The Hartford Financial Services Group, Inc. (NYSE:HIG) Stock Position Cut by Twin Tree Management LP

Twin Tree Management LP lessened its stake in The Hartford Financial Services Group, Inc. (NYSE:HIG) by 94.8% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,924 shares of the insurance provider’s stock after selling 72,030 shares during the period. Twin Tree Management LP’s holdings in The Hartford Financial Services Group were worth $429,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of HIG. Thurston Springer Miller Herd & Titak Inc. grew its position in The Hartford Financial Services Group by 3,342.9% in the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 241 shares of the insurance provider’s stock valued at $26,000 after buying an additional 234 shares in the last quarter. Barrett & Company Inc. lifted its holdings in The Hartford Financial Services Group by 46.5% in the 4th quarter. Barrett & Company Inc. now owns 293 shares of the insurance provider’s stock valued at $32,000 after acquiring an additional 93 shares during the last quarter. BNP Paribas acquired a new stake in The Hartford Financial Services Group in the 3rd quarter valued at about $35,000. DT Investment Partners LLC lifted its holdings in The Hartford Financial Services Group by 49.8% in the 4th quarter. DT Investment Partners LLC now owns 331 shares of the insurance provider’s stock valued at $36,000 after acquiring an additional 110 shares during the last quarter. Finally, Key Financial Inc lifted its holdings in The Hartford Financial Services Group by 526.3% in the 4th quarter. Key Financial Inc now owns 357 shares of the insurance provider’s stock valued at $39,000 after acquiring an additional 300 shares during the last quarter. Institutional investors own 93.42% of the company’s stock.

Insider Buying and Selling

In related news, EVP Robert W. Paiano sold 13,138 shares of the 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 transaction, the executive vice president now owns 31,678 shares in the company, valued at approximately $3,712,661.60. This represents a 29.32 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 1.60% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on HIG. Piper Sandler upped their price target on shares of The Hartford Financial Services Group from $127.00 to $130.00 and gave the company an “overweight” rating in a report on Monday, February 3rd. StockNews.com downgraded shares of The Hartford Financial Services Group from a “buy” rating to a “hold” rating in a report on Tuesday. Keefe, Bruyette & Woods upped their price target on shares of 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. Wells Fargo & Company cut their price target on shares of The Hartford Financial Services Group from $130.00 to $126.00 and set an “overweight” rating for the company in a report on Monday, February 3rd. Finally, BMO Capital Markets upped their price objective on shares of The Hartford Financial Services Group from $100.00 to $141.00 and gave the company a “market perform” rating in a research note on Wednesday, November 27th. Ten equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, The Hartford Financial Services Group has an average rating of “Moderate Buy” and a consensus target price of $122.94.

The Hartford Financial Services Group Price Performance

NYSE HIG opened at $118.81 on Wednesday. The company has a 50 day simple moving average of $113.69 and a 200-day simple moving average of $114.96. 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 firm has a market capitalization of $33.91 billion, a price-to-earnings ratio of 11.48, a price-to-earnings-growth ratio of 1.12 and a beta of 0.91. The Hartford Financial Services Group, Inc. has a 52-week low of $94.47 and a 52-week high of $124.90.

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 net margin of 11.72% and a return on equity of 19.55%. Equities research 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 Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 2nd. Investors of record on Monday, March 3rd will be issued a $0.52 dividend. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $2.08 dividend on an annualized basis and a yield of 1.75%. The Hartford Financial Services Group’s dividend payout ratio is currently 20.10%.

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.