The Hartford Financial Services Group, Inc. (NYSE:HIG) Shares Sold by Retirement Systems of Alabama

Retirement Systems of Alabama lessened its stake in The Hartford Financial Services Group, Inc. (NYSE:HIG) by 0.7% during the fourth quarter, HoldingsChannel.com reports. The firm owned 422,086 shares of the insurance provider’s stock after selling 2,863 shares during the period. Retirement Systems of Alabama’s holdings in The Hartford Financial Services Group were worth $33,927,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of HIG. Victory Capital Management Inc. raised its stake in shares of The Hartford Financial Services Group by 26.7% in the 3rd quarter. Victory Capital Management Inc. now owns 5,142,167 shares of the insurance provider’s stock valued at $364,631,000 after purchasing an additional 1,083,420 shares in the last quarter. Qube Research & Technologies Ltd grew its position in shares of The Hartford Financial Services Group by 144.3% during the 3rd quarter. Qube Research & Technologies Ltd now owns 926,033 shares of the insurance provider’s stock valued at $65,665,000 after buying an additional 546,969 shares during the last quarter. Nordea Investment Management AB grew its position in shares of The Hartford Financial Services Group by 20.2% during the 4th quarter. Nordea Investment Management AB now owns 2,958,172 shares of the insurance provider’s stock valued at $237,600,000 after buying an additional 497,916 shares during the last quarter. Great Lakes Advisors LLC grew its position in shares of The Hartford Financial Services Group by 41.5% during the 3rd quarter. Great Lakes Advisors LLC now owns 1,592,479 shares of the insurance provider’s stock valued at $112,923,000 after buying an additional 467,030 shares during the last quarter. Finally, AQR Capital Management LLC grew its position in shares of The Hartford Financial Services Group by 23.6% during the 3rd quarter. AQR Capital Management LLC now owns 1,179,682 shares of the insurance provider’s stock valued at $83,651,000 after buying an additional 224,979 shares during the last quarter. Institutional investors and hedge funds own 93.42% of the company’s stock.

Insider Buying and Selling at The Hartford Financial Services Group

In other The Hartford Financial Services Group news, EVP Michael R. Fisher sold 27,004 shares of the company’s stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $98.90, for a total value 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, EVP Adin M. Tooker sold 8,206 shares of the firm’s stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $95.60, for a total value of $784,493.60. Following the completion of the transaction, the executive vice president now owns 25,820 shares of the company’s stock, valued at approximately $2,468,392. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Michael R. Fisher sold 27,004 shares of the firm’s stock in a transaction that occurred on 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 completion of the transaction, the executive vice president now directly owns 18,906 shares of the company’s stock, valued at approximately $1,869,803.40. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 106,501 shares of company stock valued at $10,141,126. Corporate insiders own 1.60% of the company’s stock.

The Hartford Financial Services Group Price Performance

Shares of NYSE:HIG opened at $95.30 on Monday. The Hartford Financial Services Group, Inc. has a 12 month low of $67.05 and a 12 month high of $103.64. The stock has a market cap of $28.19 billion, a price-to-earnings ratio of 10.83, a PEG ratio of 1.35 and a beta of 0.89. The stock’s 50 day moving average price is $98.50 and its 200 day moving average price is $86.45. 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 Hartford Financial Services Group (NYSE:HIG) last announced its earnings results on Thursday, April 25th. The insurance provider reported $2.34 EPS for the quarter, missing the consensus estimate 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 for the quarter, compared to the consensus estimate of $6.51 billion. During the same period in the previous year, the firm earned $1.68 EPS. The Hartford Financial Services Group’s revenue for the quarter was up 8.6% on a year-over-year basis. Equities research analysts anticipate that The Hartford Financial Services Group, Inc. will post 10.11 earnings per share for the current fiscal year.

The Hartford Financial Services Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 2nd. Shareholders of record on Monday, March 4th were issued a $0.47 dividend. The ex-dividend date was Friday, March 1st. This represents a $1.88 annualized dividend and a dividend yield of 1.97%. The Hartford Financial Services Group’s dividend payout ratio is currently 21.36%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on HIG shares. Piper Sandler reaffirmed an “overweight” rating and set a $115.00 price objective on shares of The Hartford Financial Services Group in a research report on Monday, April 1st. TD Cowen upped their target price on shares of The Hartford Financial Services Group to $144.00 and gave the stock a “buy” rating in a research report on Wednesday, April 3rd. JPMorgan Chase & Co. upped their target price on shares of The Hartford Financial Services Group from $91.00 to $104.00 and gave the stock a “neutral” rating in a research report on Monday, April 8th. Keefe, Bruyette & Woods upped their target price on shares of The Hartford Financial Services Group from $114.00 to $120.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 10th. Finally, UBS Group upped their target price on shares of The Hartford Financial Services Group from $100.00 to $107.00 and gave the stock a “buy” rating in a research report on Monday, February 5th. Seven analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $105.81.

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.