Legal & General Group Plc Has $265.56 Million Stake in The Hartford Financial Services Group, Inc. (NYSE:HIG)

Legal & General Group Plc cut its position in The Hartford Financial Services Group, Inc. (NYSE:HIG) by 16.5% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,427,412 shares of the insurance provider’s stock after selling 480,569 shares during the quarter. Legal & General Group Plc’s holdings in The Hartford Financial Services Group were worth $265,559,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Geode Capital Management LLC lifted its stake 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 purchasing an additional 81,495 shares during the last quarter. Victory Capital Management Inc. lifted its position in shares of The Hartford Financial Services Group by 4.5% during the 4th quarter. Victory Capital Management Inc. now owns 4,701,675 shares of the insurance provider’s stock worth $514,363,000 after buying an additional 202,487 shares during the last quarter. Nordea Investment Management AB boosted its stake in The Hartford Financial Services Group by 17.3% in the fourth quarter. Nordea Investment Management AB now owns 3,938,421 shares of the insurance provider’s stock valued at $430,272,000 after buying an additional 581,103 shares in the last quarter. Norges Bank acquired a new position in The Hartford Financial Services Group during the fourth quarter worth about $416,340,000. Finally, Massachusetts Financial Services Co. MA lifted its holdings in shares of The Hartford Financial Services Group by 0.7% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 3,448,982 shares of the insurance provider’s stock worth $377,319,000 after acquiring an additional 25,053 shares during the last quarter. Institutional investors own 93.42% of the company’s stock.

The Hartford Financial Services Group Stock Down 0.0 %

Shares of NYSE:HIG opened at $109.83 on Wednesday. The Hartford Financial Services Group, Inc. has a 1 year low of $94.47 and a 1 year high of $125.08. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.32 and a quick ratio of 0.32. The business’s 50-day moving average is $116.32 and its 200-day moving average is $115.34. The company has a market capitalization of $31.34 billion, a price-to-earnings ratio of 10.61, a P/E/G ratio of 1.12 and a beta of 0.68.

The Hartford Financial Services Group (NYSE:HIG) last posted its quarterly earnings results on Thursday, January 30th. The insurance provider reported $2.94 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 predict that The Hartford Financial Services Group, Inc. will post 11.11 earnings per share for the current year.

The Hartford Financial Services Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 2nd. Stockholders of record on Monday, March 3rd were given a dividend of $0.52 per share. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.89%. The Hartford Financial Services Group’s dividend payout ratio (DPR) is presently 20.10%.

Insider Activity at The Hartford Financial Services Group

In related news, CEO Christopher Swift sold 1,144 shares of The Hartford Financial Services Group stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $125.00, for a total value of $143,000.00. Following the completion of the sale, the chief executive officer now owns 211,082 shares of the company’s stock, valued at approximately $26,385,250. This trade represents a 0.54 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Robert W. Paiano sold 13,138 shares of the company’s stock in a transaction 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 transaction, the executive vice president now owns 31,678 shares in the company, valued at approximately $3,712,661.60. The trade was a 29.32 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 112,343 shares of company stock valued at $13,488,337 in the last three months. Corporate insiders own 1.60% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on HIG. Piper Sandler lifted their price target on shares of The Hartford Financial Services Group from $130.00 to $145.00 and gave the company an “overweight” rating in a report on Tuesday, April 1st. Barclays upgraded shares of The Hartford Financial Services Group from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $130.00 to $135.00 in a report on Monday, January 6th. JPMorgan Chase & Co. raised their price objective on The Hartford Financial Services Group from $125.00 to $129.00 and gave the company a “neutral” rating in a report on Tuesday. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $125.00 target price on shares of The Hartford Financial Services Group in a report on Monday, February 3rd. Finally, Keefe, Bruyette & Woods boosted their price target 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. Ten investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. 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 $123.71.

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.