Vanguard Group Inc. lessened its holdings in The Hartford Financial Services Group, Inc. (NYSE:HIG - Free Report) by 0.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 37,146,943 shares of the insurance provider's stock after selling 61,980 shares during the period. Vanguard Group Inc. owned about 12.81% of The Hartford Financial Services Group worth $4,063,876,000 at the end of the most recent quarter.
Several other large investors have also added to or reduced their stakes in the business. Thurston Springer Miller Herd & Titak Inc. raised its stake in shares of The Hartford Financial Services Group by 3,342.9% in the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 241 shares of the insurance provider's stock worth $26,000 after purchasing an additional 234 shares during the last quarter. Barrett & Company Inc. raised its position in The Hartford Financial Services Group by 46.5% in the 4th quarter. Barrett & Company Inc. now owns 293 shares of the insurance provider's stock valued at $32,000 after buying an additional 93 shares during the last quarter. BNP Paribas bought a new position in The Hartford Financial Services Group during the 3rd quarter valued at $35,000. DT Investment Partners LLC boosted its holdings in The Hartford Financial Services Group by 49.8% during the 4th quarter. DT Investment Partners LLC now owns 331 shares of the insurance provider's stock worth $36,000 after acquiring an additional 110 shares during the last quarter. Finally, Flagship Wealth Advisors LLC bought a new stake in shares of The Hartford Financial Services Group in the 4th quarter worth $36,000. Institutional investors own 93.42% of the company's stock.
Wall Street Analysts Forecast Growth
Several research analysts recently weighed in on HIG shares. Keefe, Bruyette & Woods boosted their price target on shares of The Hartford Financial Services Group from $139.00 to $140.00 and gave the stock an "outperform" rating in a report on Wednesday, February 5th. Royal Bank of Canada restated a "sector perform" rating and issued a $125.00 target price on shares of The Hartford Financial Services Group in a research note on Monday, February 3rd. Piper Sandler increased their price target on The Hartford Financial Services Group from $127.00 to $130.00 and gave the company an "overweight" rating in a research report on Monday, February 3rd. Wells Fargo & Company cut their price objective on The Hartford Financial Services Group from $130.00 to $126.00 and set an "overweight" rating on the stock in a research report on Monday, February 3rd. Finally, Barclays raised The Hartford Financial Services Group from an "equal weight" rating to an "overweight" rating and raised their target price for the company from $130.00 to $135.00 in a research report on Monday, January 6th. Ten investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $122.94.
Get Our Latest Stock Analysis on The Hartford Financial Services Group
The Hartford Financial Services Group Stock Performance
The Hartford Financial Services Group stock traded down $0.77 during mid-day trading on Friday, reaching $122.21. The company's stock had a trading volume of 1,324,792 shares, compared to its average volume of 1,576,175. The firm's fifty day moving average price is $115.52 and its two-hundred day moving average price is $115.27. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.32 and a current ratio of 0.32. The Hartford Financial Services Group, Inc. has a 12-month low of $94.47 and a 12-month high of $124.90. The company has a market capitalization of $34.88 billion, a P/E ratio of 11.81, a PEG ratio of 1.12 and a beta of 0.91.
The Hartford Financial Services Group (NYSE:HIG - Get Free Report) last announced its quarterly earnings results on Thursday, January 30th. The insurance provider reported $2.94 earnings per share for the quarter, beating the consensus estimate of $2.68 by $0.26. The Hartford Financial Services Group had a return on equity of 19.55% and a net margin of 11.72%. Sell-side analysts predict that The Hartford Financial Services Group, Inc. will post 11.11 EPS for the current fiscal year.
The Hartford Financial Services Group Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 2nd. Stockholders of record on Monday, March 3rd will be issued a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.70%. The ex-dividend date is Monday, March 3rd. The Hartford Financial Services Group's payout ratio is 20.10%.
Insider Activity
In related news, CEO Christopher Swift sold 98,061 shares of the stock in a transaction on Monday, March 17th. The stock was sold at an average price of $120.39, for a total value of $11,805,563.79. Following the sale, the chief executive officer now owns 211,082 shares in the company, valued at approximately $25,412,161.98. This trade represents a 31.72 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Robert W. Paiano sold 13,138 shares of the business's stock in a transaction dated Tuesday, March 11th. The stock was sold at an average price of $117.20, for a total value of $1,539,773.60. Following the transaction, the executive vice president now owns 31,678 shares of the company's stock, valued at approximately $3,712,661.60. The trade was a 29.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.60% of the stock is owned by company insiders.
The Hartford Financial Services Group Profile
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Free Report)
The Hartford Financial Services Group, Inc, together with its subsidiaries, provides insurance and financial services to individual and business customers in the United States, the United Kingdom, and internationally. Its Commercial Lines segment offers insurance coverages, including workers' compensation, property, automobile, general and professional liability, package business, umbrella, fidelity and surety, marine, livestock, accident, health, and reinsurance through regional offices, branches, sales and policyholder service centers, independent retail agents and brokers, wholesale agents, and reinsurance brokers.
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