Sumitomo Mitsui Trust Holdings Inc. Has $71.31 Million Position in The Hartford Financial Services Group, Inc. (NYSE:HIG)

Sumitomo Mitsui Trust Holdings Inc. reduced its holdings in The Hartford Financial Services Group, Inc. (NYSE:HIG) by 1.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 887,198 shares of the insurance provider’s stock after selling 12,831 shares during the period. Sumitomo Mitsui Trust Holdings Inc. owned 0.29% of The Hartford Financial Services Group worth $71,313,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. BlackRock Inc. increased its stake in The Hartford Financial Services Group by 0.8% in the 1st quarter. BlackRock Inc. now owns 24,739,482 shares of the insurance provider’s stock valued at $1,724,094,000 after buying an additional 195,900 shares during the last quarter. Invesco Ltd. increased its stake in shares of The Hartford Financial Services Group by 1.3% during the 3rd quarter. Invesco Ltd. now owns 7,421,268 shares of the insurance provider’s stock worth $526,242,000 after purchasing an additional 91,911 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of The Hartford Financial Services Group by 1.2% during the 1st quarter. Geode Capital Management LLC now owns 6,532,858 shares of the insurance provider’s stock worth $454,234,000 after purchasing an additional 74,997 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of The Hartford Financial Services Group by 5.8% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 5,612,529 shares of the insurance provider’s stock worth $403,036,000 after purchasing an additional 307,231 shares during the last quarter. Finally, Victory Capital Management Inc. increased its stake in shares of The Hartford Financial Services Group by 26.7% during the 3rd quarter. Victory Capital Management Inc. now owns 5,142,167 shares of the insurance provider’s stock worth $364,631,000 after purchasing an additional 1,083,420 shares during the last quarter. 93.42% of the stock is currently owned by institutional investors and hedge funds.

The Hartford Financial Services Group Stock Performance

Shares of The Hartford Financial Services Group stock opened at $95.78 on Thursday. The company has a 50 day moving average of $97.49 and a 200-day moving average of $84.97. The Hartford Financial Services Group, Inc. has a 1-year low of $67.05 and a 1-year high of $103.64. The company has a current ratio of 0.32, a quick ratio of 0.32 and a debt-to-equity ratio of 0.29. The company has a market cap of $28.48 billion, a PE ratio of 11.99, a price-to-earnings-growth ratio of 1.38 and a beta of 0.89.

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

The Hartford Financial Services Group Announces Dividend

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

Insider Buying and Selling

In related news, SVP Allison G. Niderno sold 1,332 shares of the company’s stock in a transaction that occurred on Tuesday, February 6th. The shares were sold at an average price of $89.74, for a total transaction of $119,533.68. Following the completion of the transaction, the senior vice president now directly owns 630 shares in the company, valued at approximately $56,536.20. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other The Hartford Financial Services Group news, EVP Michael R. Fisher sold 27,004 shares of the company’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 value of $2,670,695.60. Following the completion of the transaction, the executive vice president now directly owns 18,906 shares in the company, valued at approximately $1,869,803.40. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, SVP Allison G. Niderno sold 1,332 shares of the company’s stock in a transaction that occurred on Tuesday, February 6th. The shares were sold at an average price of $89.74, for a total transaction of $119,533.68. Following the completion of the transaction, the senior vice president now owns 630 shares of the company’s stock, valued at $56,536.20. The disclosure for this sale can be found here. Insiders sold a total of 249,082 shares of company stock worth $22,404,321 in the last three months. 1.60% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

HIG has been the topic of several recent analyst reports. Morgan Stanley boosted their price objective on shares of The Hartford Financial Services Group from $94.00 to $110.00 and gave the stock an “equal weight” rating in a research note on Monday. UBS Group lifted 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 report on Monday, February 5th. Royal Bank of Canada lifted their target price on shares of The Hartford Financial Services Group from $77.00 to $95.00 and gave the stock a “sector perform” rating in a report on Monday, February 5th. Citigroup lifted their target price on shares of The Hartford Financial Services Group from $109.00 to $113.00 and gave the stock a “buy” rating in a report on Tuesday. Finally, Keefe, Bruyette & Woods lifted 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 report on Wednesday, April 10th. Seven research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $105.56.

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.