The Hartford Financial Services Group, Inc. (NYSE:HIG) Shares Sold by Brandywine Global Investment Management LLC

Brandywine Global Investment Management LLC lowered its stake in The Hartford Financial Services Group, Inc. (NYSE:HIG) by 31.7% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 173,673 shares of the insurance provider’s stock after selling 80,536 shares during the quarter. Brandywine Global Investment Management LLC’s holdings in The Hartford Financial Services Group were worth $19,000,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Norges Bank purchased a new stake in shares of The Hartford Financial Services Group during the fourth quarter worth about $416,340,000. AustralianSuper Pty Ltd increased its position in shares of The Hartford Financial Services Group by 265.5% during the fourth quarter. AustralianSuper Pty Ltd now owns 1,213,074 shares of the insurance provider’s stock worth $132,710,000 after purchasing an additional 881,224 shares in the last quarter. Assenagon Asset Management S.A. increased its position in shares of The Hartford Financial Services Group by 437.9% during the fourth quarter. Assenagon Asset Management S.A. now owns 871,318 shares of the insurance provider’s stock worth $95,322,000 after purchasing an additional 709,324 shares in the last quarter. Proficio Capital Partners LLC grew its holdings in shares of The Hartford Financial Services Group by 11,904.7% during the fourth quarter. Proficio Capital Partners LLC now owns 631,565 shares of the insurance provider’s stock worth $632,000 after buying an additional 626,304 shares in the last quarter. Finally, Raymond James Financial Inc. purchased a new stake in The Hartford Financial Services Group during the 4th quarter valued at about $65,256,000. Hedge funds and other institutional investors own 93.42% of the company’s stock.

Insider Activity

In related news, CEO Christopher Swift sold 98,061 shares of the stock in a transaction on Monday, March 17th. The shares were 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 in the company, valued at $25,412,161.98. This represents a 31.72 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Robert W. Paiano sold 13,138 shares of The Hartford Financial Services Group stock in a transaction on Tuesday, March 11th. The shares were sold at an average price of $117.20, for a total transaction of $1,539,773.60. Following the completion of 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 disclosure for this sale can be found here. Corporate insiders own 1.60% of the company’s stock.

Wall Street Analyst Weigh In

HIG has been the topic of several recent research reports. Piper Sandler boosted their target price on The Hartford Financial Services Group from $127.00 to $130.00 and gave the stock an “overweight” rating in a report on Monday, February 3rd. StockNews.com cut The Hartford Financial Services Group from a “buy” rating to a “hold” rating in a report on Tuesday, March 18th. Barclays upgraded The Hartford Financial Services Group from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $130.00 to $135.00 in a report on Monday, January 6th. Keefe, Bruyette & Woods raised their price objective on shares of The Hartford Financial Services Group from $139.00 to $140.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 5th. Finally, Royal Bank of Canada reiterated 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. Ten investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, The Hartford Financial Services Group presently has an average rating of “Moderate Buy” and a consensus target price of $122.94.

The Hartford Financial Services Group Stock Down 0.6 %

The Hartford Financial Services Group stock opened at $122.21 on Monday. The stock has a market cap of $34.88 billion, a PE ratio of 11.81, a P/E/G ratio of 1.12 and a beta of 0.91. 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 stock’s fifty day moving average is $115.52 and its two-hundred day moving average is $115.27. The Hartford Financial Services Group, Inc. has a 1-year low of $94.47 and a 1-year high of $124.90.

The Hartford Financial Services Group (NYSE:HIG) last posted its earnings results on Thursday, January 30th. The insurance provider reported $2.94 earnings per share for the quarter, topping the consensus estimate 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%. On average, sell-side analysts expect that The Hartford Financial Services Group, Inc. will post 11.11 EPS 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. Shareholders 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 yield of 1.70%. The ex-dividend date of this dividend is Monday, March 3rd. 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.