Carret Asset Management LLC Sells 957 Shares of The Hartford Financial Services Group, Inc. (NYSE:HIG)

Carret Asset Management LLC reduced its holdings in shares of The Hartford Financial Services Group, Inc. (NYSE:HIG) by 1.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 62,552 shares of the insurance provider’s stock after selling 957 shares during the period. Carret Asset Management LLC’s holdings in The Hartford Financial Services Group were worth $6,843,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in the business. Victory Capital Management Inc. increased its position in 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 valued at $514,363,000 after buying an additional 202,487 shares in the last quarter. Nordea Investment Management AB increased its position in 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 valued at $430,272,000 after buying an additional 581,103 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in The Hartford Financial Services Group by 2.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,913,914 shares of the insurance provider’s stock valued at $209,382,000 after buying an additional 39,585 shares in the last quarter. Bahl & Gaynor Inc. increased its position in The Hartford Financial Services Group by 8.5% during the 4th quarter. Bahl & Gaynor Inc. now owns 1,457,147 shares of the insurance provider’s stock valued at $159,412,000 after buying an additional 114,716 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. increased its position in The Hartford Financial Services Group by 2.9% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 1,234,480 shares of the insurance provider’s stock valued at $135,052,000 after buying an additional 34,938 shares in the last quarter. 93.42% of the stock is owned by institutional investors and hedge funds.

The Hartford Financial Services Group Stock Up 0.5 %

Shares of HIG opened at $116.41 on Friday. 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, Inc. has a 12 month low of $94.47 and a 12 month high of $124.90. The stock’s 50 day moving average is $113.06 and its two-hundred day moving average is $114.85. The firm has a market cap of $33.22 billion, a P/E ratio of 11.25, a PEG ratio of 1.12 and a beta of 0.91.

The Hartford Financial Services Group (NYSE:HIG) last issued 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%. Analysts predict that The Hartford Financial Services Group, Inc. will post 11.11 earnings per share for the current fiscal year.

The Hartford Financial Services Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 2nd. Stockholders of record on Monday, March 3rd will be paid a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.79%. The ex-dividend date is Monday, March 3rd. The Hartford Financial Services Group’s dividend payout ratio is presently 20.10%.

Wall Street Analyst Weigh In

HIG has been the topic of several recent analyst reports. Piper Sandler upped their target price on The Hartford Financial Services Group from $127.00 to $130.00 and gave the company an “overweight” rating in a research report on Monday, February 3rd. BMO Capital Markets increased their price objective on The Hartford Financial Services Group from $100.00 to $141.00 and gave the company a “market perform” rating in a report on Wednesday, November 27th. Wells Fargo & Company cut their price objective on The Hartford Financial Services Group from $130.00 to $126.00 and set an “overweight” rating on the stock in a report on Monday, February 3rd. StockNews.com raised The Hartford Financial Services Group from a “hold” rating to a “buy” rating in a report on Monday. Finally, Keefe, Bruyette & Woods increased their price objective on The Hartford Financial Services Group from $139.00 to $140.00 and gave the company an “outperform” rating in a report on Wednesday, February 5th. Nine research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, The Hartford Financial Services Group currently has an average rating of “Moderate Buy” and a consensus target price of $122.94.

Insider Transactions at The Hartford Financial Services Group

In other news, EVP Robert W. Paiano sold 13,138 shares of The Hartford Financial Services Group stock in a transaction that occurred 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 sale, the executive vice president now directly owns 31,678 shares of the company’s stock, valued at $3,712,661.60. The trade was a 29.32 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 1.60% 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.