The Hartford Financial Services Group, Inc. (NYSE:HIG) Shares Sold by Cullen Frost Bankers Inc.

Cullen Frost Bankers Inc. reduced its stake in shares of The Hartford Financial Services Group, Inc. (NYSE:HIG) by 1.5% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 8,194 shares of the insurance provider’s stock after selling 125 shares during the period. Cullen Frost Bankers Inc.’s holdings in The Hartford Financial Services Group were worth $659,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. McGlone Suttner Wealth Management Inc. increased its holdings in The Hartford Financial Services Group by 11.7% in the 4th quarter. McGlone Suttner Wealth Management Inc. now owns 3,165 shares of the insurance provider’s stock worth $254,000 after buying an additional 331 shares during the period. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH purchased a new stake in The Hartford Financial Services Group in the fourth quarter valued at $2,875,000. New Millennium Group LLC acquired a new stake in The Hartford Financial Services Group during the 4th quarter worth about $1,552,000. SteelPeak Wealth LLC purchased a new position in shares of The Hartford Financial Services Group during the 4th quarter valued at about $1,691,000. Finally, Cerity Partners LLC boosted its stake in shares of The Hartford Financial Services Group by 19.8% in the fourth quarter. Cerity Partners LLC now owns 49,614 shares of the insurance provider’s stock worth $4,003,000 after buying an additional 8,203 shares during the last quarter. 93.42% of the stock is owned by institutional investors and hedge funds.

The Hartford Financial Services Group Trading Up 1.7 %

HIG opened at $101.33 on Friday. The business has a fifty day moving average price of $99.04 and a 200 day moving average price of $87.82. The company has a debt-to-equity ratio of 0.29, a current ratio of 0.31 and a quick ratio of 0.31. The stock has a market capitalization of $29.97 billion, a price-to-earnings ratio of 11.51, a PEG ratio of 1.40 and a beta of 0.90. The Hartford Financial Services Group, Inc. has a 12 month low of $67.42 and a 12 month high of $103.64.

The Hartford Financial Services Group (NYSE:HIG) last issued its quarterly earnings results on Thursday, April 25th. The insurance provider reported $2.34 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.43 by ($0.09). The Hartford Financial Services Group had a return on equity of 20.64% and a net margin of 10.87%. The firm had revenue of $6.42 billion during the quarter, compared to analysts’ expectations of $6.51 billion. During the same quarter in the prior year, the firm earned $1.68 EPS. The firm’s revenue was up 8.6% compared to the same quarter last year. Sell-side analysts expect that The Hartford Financial Services Group, Inc. will post 10.01 earnings per share for the current fiscal year.

The Hartford Financial Services Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 2nd. Shareholders of record on Monday, March 4th were issued a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a yield of 1.86%. The ex-dividend date was Friday, March 1st. The Hartford Financial Services Group’s dividend payout ratio (DPR) is 21.36%.

Analyst Ratings Changes

A number of brokerages have issued reports on HIG. Roth Mkm boosted their price target on The Hartford Financial Services Group from $90.00 to $95.00 and gave the company a “neutral” rating in a report on Friday, April 26th. Raymond James reissued an “outperform” rating and set a $120.00 target price (up from $100.00) on shares of The Hartford Financial Services Group in a research note on Monday, April 1st. Keefe, Bruyette & Woods upped their price target on The Hartford Financial Services Group from $114.00 to $120.00 and gave the stock an “outperform” rating in a report on Wednesday, April 10th. Morgan Stanley dropped their price objective on The Hartford Financial Services Group from $110.00 to $109.00 and set an “equal weight” rating on the stock in a report on Friday, April 26th. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $115.00 target price on shares of The Hartford Financial Services Group in a research note on Monday, April 1st. Seven investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $105.44.

Insiders Place Their Bets

In other news, EVP Adin M. Tooker sold 8,206 shares of the firm’s stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $95.60, for a total transaction of $784,493.60. Following the sale, the executive vice president now owns 25,820 shares of the company’s stock, valued at approximately $2,468,392. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other The Hartford Financial Services Group news, EVP Michael R. Fisher sold 27,004 shares of the firm’s stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $98.90, for a total transaction of $2,670,695.60. Following the transaction, the executive vice president now owns 18,906 shares of the company’s stock, valued at $1,869,803.40. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Adin M. Tooker sold 8,206 shares of the firm’s stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $95.60, for a total value of $784,493.60. Following the transaction, the executive vice president now directly owns 25,820 shares in the company, valued at approximately $2,468,392. The disclosure for this sale can be found here. Insiders sold 90,169 shares of company stock valued at $8,676,992 in the last ninety days. Insiders own 1.60% of the company’s stock.

The Hartford Financial Services Group Profile

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.