The Hartford Financial Services Group, Inc. (NYSE:HIG) Shares Sold by Tredje AP fonden

Tredje AP fonden cut its stake in The Hartford Financial Services Group, Inc. (NYSE:HIG) by 50.0% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 23,840 shares of the insurance provider’s stock after selling 23,840 shares during the period. Tredje AP fonden’s holdings in The Hartford Financial Services Group were worth $2,608,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the stock. HighTower Advisors LLC boosted its holdings in shares of The Hartford Financial Services Group by 7.1% in the 3rd quarter. HighTower Advisors LLC now owns 111,134 shares of the insurance provider’s stock valued at $13,063,000 after purchasing an additional 7,350 shares during the last quarter. Dai ichi Life Insurance Company Ltd boosted its holdings in The Hartford Financial Services Group by 3.3% in the third quarter. Dai ichi Life Insurance Company Ltd now owns 137,506 shares of the insurance provider’s stock valued at $16,172,000 after acquiring an additional 4,449 shares during the last quarter. Horizon Advisory Services Inc. acquired a new position in The Hartford Financial Services Group in the fourth quarter valued at $277,000. Zurich Insurance Group Ltd FI purchased a new stake in The Hartford Financial Services Group during the third quarter valued at about $19,005,000. Finally, Citigroup Inc. increased its stake in The Hartford Financial Services Group by 3.5% during the third quarter. Citigroup Inc. now owns 314,849 shares of the insurance provider’s stock worth $37,029,000 after acquiring an additional 10,566 shares during the last quarter. 93.42% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, EVP Robert W. Paiano sold 13,138 shares of the stock in a transaction that occurred on Tuesday, March 11th. The stock was sold at an average price of $117.20, for a total transaction of $1,539,773.60. Following the sale, the executive vice president now directly owns 31,678 shares in the company, valued at approximately $3,712,661.60. This represents a 29.32 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.60% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

HIG has been the topic of several research analyst reports. StockNews.com raised The Hartford Financial Services Group from a “hold” rating to a “buy” rating in a research note on Monday. Piper Sandler boosted their price objective on shares of The Hartford Financial Services Group from $127.00 to $130.00 and gave the stock an “overweight” rating in a research note on Monday, February 3rd. Royal Bank of Canada reissued a “sector perform” rating and issued a $125.00 price objective on shares of The Hartford Financial Services Group in a research report on Monday, February 3rd. Keefe, Bruyette & Woods lifted their target price on shares of The Hartford Financial Services Group from $139.00 to $140.00 and gave the company an “outperform” rating in a report on Wednesday, February 5th. Finally, Wells Fargo & Company lowered their price target on The Hartford Financial Services Group from $130.00 to $126.00 and set an “overweight” rating for the company in a report on Monday, February 3rd. Nine investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $122.94.

The Hartford Financial Services Group Price Performance

Shares of HIG opened at $116.41 on Friday. The company has a current ratio of 0.32, a quick ratio of 0.32 and a debt-to-equity ratio of 0.27. The firm has a market cap of $33.22 billion, a price-to-earnings ratio of 11.25, a PEG ratio of 1.12 and a beta of 0.91. The Hartford Financial Services Group, Inc. has a 52 week low of $94.47 and a 52 week high of $124.90. The stock has a 50 day moving average of $113.06 and a 200-day moving average of $114.85.

The Hartford Financial Services Group (NYSE:HIG) last released its quarterly earnings data on Thursday, January 30th. The insurance provider reported $2.94 EPS for the quarter, topping analysts’ consensus estimates of $2.68 by $0.26. The Hartford Financial Services Group had a net margin of 11.72% and a return on equity of 19.55%. As a group, analysts forecast that The Hartford Financial Services Group, Inc. will post 11.11 EPS for the current year.

The Hartford Financial Services Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 2nd. Investors of record on Monday, March 3rd will be paid a dividend of $0.52 per share. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $2.08 annualized dividend and a yield of 1.79%. The Hartford Financial Services Group’s dividend payout ratio (DPR) is 20.10%.

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.