The Hartford Financial Services Group, Inc. (NYSE:HIG) Shares Sold by Prudential PLC

Prudential PLC decreased its holdings in shares of The Hartford Financial Services Group, Inc. (NYSE:HIG) by 39.8% during the 4th quarter, HoldingsChannel.com reports. The firm owned 55,120 shares of the insurance provider’s stock after selling 36,498 shares during the period. Prudential PLC’s holdings in The Hartford Financial Services Group were worth $6,030,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also modified their holdings of HIG. Geode Capital Management LLC grew its holdings in The Hartford Financial Services Group by 1.1% during the fourth quarter. Geode Capital Management LLC now owns 7,251,389 shares of the insurance provider’s stock worth $792,796,000 after acquiring an additional 81,495 shares during the period. Victory Capital Management Inc. lifted its holdings in The Hartford Financial Services Group by 4.5% in the fourth quarter. Victory Capital Management Inc. now owns 4,701,675 shares of the insurance provider’s stock valued at $514,363,000 after acquiring an additional 202,487 shares during the period. Nordea Investment Management AB boosted its position in shares of The Hartford Financial Services Group by 17.3% during the 4th quarter. Nordea Investment Management AB now owns 3,938,421 shares of the insurance provider’s stock worth $430,272,000 after purchasing an additional 581,103 shares in the last quarter. Norges Bank acquired a new position in shares of The Hartford Financial Services Group during the 4th quarter worth $416,340,000. Finally, Massachusetts Financial Services Co. MA increased its holdings in shares of The Hartford Financial Services Group by 0.7% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 3,448,982 shares of the insurance provider’s stock valued at $377,319,000 after purchasing an additional 25,053 shares in the last quarter. 93.42% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

HIG has been the topic of a number of research analyst reports. Piper Sandler boosted their price objective on shares of The Hartford Financial Services Group from $130.00 to $145.00 and gave the stock an “overweight” rating in a report on Tuesday, April 1st. Royal Bank of Canada reissued a “sector perform” rating and set a $125.00 price target on shares of The Hartford Financial Services Group in a research note on Monday, February 3rd. StockNews.com cut The Hartford Financial Services Group from a “buy” rating to a “hold” rating in a report on Tuesday, March 18th. Keefe, Bruyette & Woods lifted their price objective on 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. Finally, Barclays raised The Hartford Financial Services Group from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $130.00 to $135.00 in a report on Monday, January 6th. Ten analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, The Hartford Financial Services Group presently has an average rating of “Moderate Buy” and a consensus price target of $123.47.

The Hartford Financial Services Group Price Performance

Shares of NYSE:HIG opened at $113.56 on Friday. The company has a market cap of $32.41 billion, a P/E ratio of 10.97, a P/E/G ratio of 1.12 and a beta of 0.68. The business has a fifty day simple moving average of $116.56 and a 200-day simple moving average of $115.48. The Hartford Financial Services Group, Inc. has a 52 week low of $94.47 and a 52 week high of $125.08. The company has a quick ratio of 0.32, a current ratio of 0.32 and a debt-to-equity ratio of 0.27.

The Hartford Financial Services Group (NYSE:HIG) last posted its quarterly earnings results on Thursday, January 30th. The insurance provider reported $2.94 EPS 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%. Equities research analysts forecast that The Hartford Financial Services Group, Inc. will post 11.11 EPS for the current year.

The Hartford Financial Services Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 2nd. Shareholders of record on Monday, March 3rd were paid a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 1.83%. The ex-dividend date was Monday, March 3rd. The Hartford Financial Services Group’s dividend payout ratio is currently 20.10%.

Insider Buying and Selling at The Hartford Financial Services Group

In related news, EVP Robert W. Paiano sold 13,138 shares of The Hartford Financial Services Group stock in a transaction on 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 in the company, valued at approximately $3,712,661.60. This trade represents a 29.32 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Christopher Swift sold 98,061 shares of the business’s stock in a transaction dated Monday, March 17th. The shares were 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 directly owns 211,082 shares of the company’s stock, valued at approximately $25,412,161.98. This trade represents a 31.72 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 112,343 shares of company stock worth $13,488,337 in the last quarter. 1.60% of the stock is owned by insiders.

About The Hartford Financial Services Group

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.