Northwest & Ethical Investments L.P. Decreases Position in The Hartford Financial Services Group, Inc. (NYSE:HIG)

Northwest & Ethical Investments L.P. lowered its stake in shares of The Hartford Financial Services Group, Inc. (NYSE:HIG) by 12.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 28,203 shares of the insurance provider’s stock after selling 4,175 shares during the quarter. Northwest & Ethical Investments L.P.’s holdings in The Hartford Financial Services Group were worth $3,085,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also modified their holdings of the stock. HighTower Advisors LLC increased its holdings in The Hartford Financial Services Group by 7.1% during the 3rd quarter. HighTower Advisors LLC now owns 111,134 shares of the insurance provider’s stock worth $13,063,000 after purchasing an additional 7,350 shares during the period. Dai ichi Life Insurance Company Ltd increased its stake in shares of The Hartford Financial Services Group by 3.3% during the third quarter. Dai ichi Life Insurance Company Ltd now owns 137,506 shares of the insurance provider’s stock worth $16,172,000 after buying an additional 4,449 shares during the period. Horizon Advisory Services Inc. acquired a new stake in The Hartford Financial Services Group in the fourth quarter valued at approximately $277,000. Zurich Insurance Group Ltd FI acquired a new stake in The Hartford Financial Services Group in the third quarter valued at approximately $19,005,000. Finally, Citigroup Inc. grew its holdings in The Hartford Financial Services Group by 3.5% during the 3rd quarter. Citigroup Inc. now owns 314,849 shares of the insurance provider’s stock worth $37,029,000 after acquiring an additional 10,566 shares in the last quarter. 93.42% of the stock is currently owned by institutional investors and hedge funds.

The Hartford Financial Services Group Trading Down 0.1 %

NYSE HIG opened at $119.60 on Friday. The firm’s fifty day moving average is $114.10 and its two-hundred day moving average is $115.03. The Hartford Financial Services Group, Inc. has a one year low of $94.47 and a one year high of $124.90. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.32 and a current ratio of 0.32. The firm has a market cap of $34.13 billion, a PE ratio of 11.56, a P/E/G ratio of 1.12 and a beta of 0.91.

The Hartford Financial Services Group (NYSE:HIG) last released 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 expect that The Hartford Financial Services Group, Inc. will post 11.11 earnings per share for the current year.

The Hartford Financial Services Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 2nd. Stockholders of record on Monday, March 3rd will be issued a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.74%. The ex-dividend date of this dividend is Monday, March 3rd. The Hartford Financial Services Group’s payout ratio is currently 20.10%.

Insider Transactions at The Hartford Financial Services Group

In other The Hartford Financial Services Group news, EVP Robert W. Paiano sold 13,138 shares of the business’s stock in a transaction on Tuesday, March 11th. The shares were 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 directly owns 31,678 shares of the company’s stock, valued at approximately $3,712,661.60. The trade was a 29.32 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, 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 sale, the chief executive officer now owns 211,082 shares of the company’s stock, valued at $25,412,161.98. This trade represents a 31.72 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.60% of the company’s stock.

Analyst Upgrades and Downgrades

HIG has been the topic of a number of analyst reports. Royal Bank of Canada restated a “sector perform” rating and issued a $125.00 price objective on shares of The Hartford Financial Services Group in a report on Monday, February 3rd. StockNews.com downgraded The Hartford Financial Services Group from a “buy” rating to a “hold” rating in a report on Tuesday. Barclays raised The Hartford Financial Services Group from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $130.00 to $135.00 in a research report on Monday, January 6th. Wells Fargo & Company cut their target price on The Hartford Financial Services Group from $130.00 to $126.00 and set an “overweight” rating on the stock in a research report on Monday, February 3rd. Finally, Piper Sandler upped their price target on 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. Ten investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $122.94.

The Hartford Financial Services Group Company 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.