Strs Ohio Cuts Stock Position in The Hartford Financial Services Group, Inc. (NYSE:HIG)

Strs Ohio trimmed its holdings in shares of The Hartford Financial Services Group, Inc. (NYSE:HIG) by 19.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 99,108 shares of the insurance provider’s stock after selling 23,804 shares during the period. Strs Ohio’s holdings in The Hartford Financial Services Group were worth $7,966,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Louisiana State Employees Retirement System acquired a new position in The Hartford Financial Services Group during the 4th quarter worth approximately $1,463,000. MV Capital Management Inc. boosted its stake in shares of The Hartford Financial Services Group by 8.9% in the fourth quarter. MV Capital Management Inc. now owns 1,416 shares of the insurance provider’s stock valued at $114,000 after purchasing an additional 116 shares during the period. Simplicity Solutions LLC grew its holdings in The Hartford Financial Services Group by 3.4% during the 4th quarter. Simplicity Solutions LLC now owns 5,164 shares of the insurance provider’s stock valued at $415,000 after purchasing an additional 168 shares in the last quarter. Graypoint LLC purchased a new stake in The Hartford Financial Services Group during the 4th quarter worth $291,000. Finally, AlphaQ Advisors LLC lifted its holdings in The Hartford Financial Services Group by 5.7% in the 4th quarter. AlphaQ Advisors LLC now owns 6,318 shares of the insurance provider’s stock worth $508,000 after buying an additional 340 shares in the last quarter. 93.42% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the company. Morgan Stanley lifted their target price on The Hartford Financial Services Group from $94.00 to $110.00 and gave the stock an “equal weight” rating in a research report on Monday. Evercore ISI upped their target price on The Hartford Financial Services Group from $96.00 to $104.00 and gave the company an “in-line” rating in a research report on Thursday, April 11th. TD Cowen increased their target price on The Hartford Financial Services Group to $144.00 and gave the company a “buy” rating in a research note on Wednesday, April 3rd. Citigroup upped their price target on shares of The Hartford Financial Services Group from $109.00 to $113.00 and gave the company a “buy” rating in a report on Tuesday. Finally, Piper Sandler reissued an “overweight” rating and set a $115.00 price objective on shares of The Hartford Financial Services Group in a report on Monday, April 1st. Seven analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, The Hartford Financial Services Group has a consensus rating of “Moderate Buy” and an average target price of $105.56.

Insider Buying and Selling

In other The Hartford Financial Services Group news, EVP Michael R. Fisher sold 27,004 shares of The Hartford Financial Services Group stock in a transaction that occurred on Wednesday, March 13th. The shares were 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 in the company, valued at $1,869,803.40. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other The Hartford Financial Services Group news, SVP Allison G. Niderno sold 1,516 shares of the firm’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $94.55, for a total value of $143,337.80. Following the completion of the transaction, the senior vice president now directly owns 630 shares in the company, valued at $59,566.50. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Michael R. Fisher sold 27,004 shares of the business’s stock in a transaction that occurred on Wednesday, March 13th. The shares were sold at an average price of $98.90, for a total transaction of $2,670,695.60. Following the sale, the executive vice president now owns 18,906 shares in the company, valued at approximately $1,869,803.40. The disclosure for this sale can be found here. Insiders have sold 249,082 shares of company stock worth $22,404,321 in the last ninety days. 1.60% of the stock is currently owned by corporate insiders.

The Hartford Financial Services Group Stock Performance

HIG opened at $95.78 on Thursday. The business has a 50 day moving average price of $97.49 and a two-hundred day moving average price of $84.97. The company has a debt-to-equity ratio of 0.29, a current ratio of 0.32 and a quick ratio of 0.32. The company has a market capitalization of $28.48 billion, a price-to-earnings ratio of 11.99, a price-to-earnings-growth ratio of 1.38 and a beta of 0.89. The Hartford Financial Services Group, Inc. has a 1-year low of $67.05 and a 1-year high of $103.64.

The Hartford Financial Services Group (NYSE:HIG) last announced its earnings results on Friday, February 2nd. The insurance provider reported $3.06 earnings per share for the quarter, beating the consensus estimate of $2.44 by $0.62. The Hartford Financial Services Group had a return on equity of 19.82% and a net margin of 10.21%. The business had revenue of $6.40 billion during the quarter, compared to analysts’ expectations of $5.84 billion. During the same quarter last year, the business posted $2.31 earnings per share. The company’s quarterly revenue was up 6.4% on a year-over-year basis. Research analysts predict that The Hartford Financial Services Group, Inc. will post 10.13 EPS for the current fiscal year.

The Hartford Financial Services Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 2nd. Investors of record on Monday, March 4th were issued a $0.47 dividend. The ex-dividend date of this dividend was Friday, March 1st. This represents a $1.88 dividend on an annualized basis and a dividend yield of 1.96%. The Hartford Financial Services Group’s payout ratio is currently 23.53%.

The Hartford Financial Services Group Company 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.