The Hartford Financial Services Group, Inc. (NYSE:HIG) Shares Sold by Jacobs Levy Equity Management Inc.

Jacobs Levy Equity Management Inc. cut its position in The Hartford Financial Services Group, Inc. (NYSE:HIG) by 11.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 212,831 shares of the insurance provider’s stock after selling 28,358 shares during the quarter. Jacobs Levy Equity Management Inc. owned approximately 0.07% of The Hartford Financial Services Group worth $23,284,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the company. Gotham Asset Management LLC boosted its position in shares of The Hartford Financial Services Group by 31.8% in the 4th quarter. Gotham Asset Management LLC now owns 145,804 shares of the insurance provider’s stock valued at $15,951,000 after purchasing an additional 35,138 shares during the period. Focus Partners Wealth boosted its position in shares of The Hartford Financial Services Group by 16.9% in the 4th quarter. Focus Partners Wealth now owns 14,369 shares of the insurance provider’s stock valued at $1,572,000 after purchasing an additional 2,077 shares during the period. Ensign Peak Advisors Inc boosted its position in shares of The Hartford Financial Services Group by 5.2% in the 4th quarter. Ensign Peak Advisors Inc now owns 417,008 shares of the insurance provider’s stock valued at $45,621,000 after purchasing an additional 20,535 shares during the period. Ethic Inc. boosted its position in shares of The Hartford Financial Services Group by 9.9% in the 4th quarter. Ethic Inc. now owns 55,765 shares of the insurance provider’s stock valued at $6,101,000 after purchasing an additional 5,040 shares during the period. Finally, Fred Alger Management LLC boosted its position in shares of The Hartford Financial Services Group by 10.3% in the 4th quarter. Fred Alger Management LLC now owns 34,540 shares of the insurance provider’s stock valued at $3,795,000 after purchasing an additional 3,212 shares during the period. 93.42% of the stock is owned by institutional investors and hedge funds.

The Hartford Financial Services Group Stock Performance

Shares of HIG stock opened at $127.50 on Monday. The Hartford Financial Services Group, Inc. has a 12-month low of $98.16 and a 12-month high of $132.49. The company has a market cap of $36.22 billion, a price-to-earnings ratio of 12.32, a price-to-earnings-growth ratio of 1.12 and a beta of 0.70. The stock has a 50 day simple moving average of $119.54 and a 200-day simple moving average of $115.74. The company has a current ratio of 0.32, a quick ratio of 0.32 and a debt-to-equity ratio of 0.27.

The Hartford Financial Services Group (NYSE:HIG) last released its quarterly earnings data on Thursday, April 24th. The insurance provider reported $2.20 earnings per share for the quarter, beating the consensus estimate of $2.15 by $0.05. The Hartford Financial Services Group had a return on equity of 19.55% and a net margin of 11.72%. The firm had revenue of $6.81 billion during the quarter, compared to the consensus estimate of $6.97 billion. During the same period last year, the business posted $2.34 EPS. The Hartford Financial Services Group’s quarterly revenue was up 6.1% on a year-over-year basis. On average, equities analysts forecast that The Hartford Financial Services Group, Inc. will post 11.11 EPS for the current year.

The Hartford Financial Services Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 2nd. Investors of record on Monday, March 3rd were paid a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 1.63%. The ex-dividend date was Monday, March 3rd. The Hartford Financial Services Group’s payout ratio is currently 20.74%.

Analysts Set New Price Targets

A number of analysts have weighed in on the company. JPMorgan Chase & Co. increased their price objective on The Hartford Financial Services Group from $125.00 to $129.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 8th. Piper Sandler increased their price objective on The Hartford Financial Services Group from $130.00 to $145.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 1st. UBS Group increased their price objective on The Hartford Financial Services Group from $139.00 to $142.00 and gave the stock a “buy” rating in a research report on Monday, April 28th. Raymond James increased their price objective on The Hartford Financial Services Group from $125.00 to $135.00 and gave the stock an “outperform” rating in a research report on Monday, March 31st. Finally, Wells Fargo & Company decreased their price objective on The Hartford Financial Services Group from $126.00 to $125.00 and set an “overweight” rating for the company in a research report on Thursday, April 10th. Seven research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, The Hartford Financial Services Group currently has a consensus rating of “Moderate Buy” and an average price target of $126.87.

Insider Activity at The Hartford Financial Services Group

In other The Hartford Financial Services Group news, CEO Christopher Swift sold 98,061 shares of the firm’s stock in a transaction on Monday, March 17th. The stock was sold at an average price of $120.39, for a total transaction of $11,805,563.79. Following the completion of the transaction, the chief executive officer now 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP Allison G. Niderno sold 1,086 shares of the firm’s stock in a transaction on Monday, April 28th. The stock was sold at an average price of $119.42, for a total value of $129,690.12. Following the transaction, the senior vice president now directly owns 622 shares of the company’s stock, valued at $74,279.24. The trade was a 63.58% decrease in their position. The disclosure for this sale can be found here. Insiders sold 113,429 shares of company stock valued at $13,618,028 in the last ninety days. Corporate insiders own 1.50% of the company’s stock.

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.