CIBC Private Wealth Group LLC Has $789,000 Stock Holdings in The Hartford Financial Services Group, Inc. (NYSE:HIG)

CIBC Private Wealth Group LLC decreased its position in The Hartford Financial Services Group, Inc. (NYSE:HIG) by 9.3% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 7,214 shares of the insurance provider’s stock after selling 742 shares during the period. CIBC Private Wealth Group LLC’s holdings in The Hartford Financial Services Group were worth $789,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Victory Capital Management Inc. increased its holdings in shares of The Hartford Financial Services Group by 4.5% in the fourth quarter. Victory Capital Management Inc. now owns 4,701,675 shares of the insurance provider’s stock worth $514,363,000 after acquiring an additional 202,487 shares in the last quarter. Nordea Investment Management AB grew its position in shares of The Hartford Financial Services Group by 17.3% in 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 purchasing an additional 581,103 shares during the period. Norges Bank bought a new stake in The Hartford Financial Services Group during the 4th quarter worth approximately $416,340,000. Charles Schwab Investment Management Inc. raised its holdings 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 worth $209,382,000 after buying an additional 39,585 shares during the period. Finally, Bahl & Gaynor Inc. boosted its holdings in shares of The Hartford Financial Services Group by 8.5% in the fourth 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 during the period. Institutional investors own 93.42% of the company’s stock.

Insiders Place Their Bets

In related news, CEO Christopher Swift sold 1,144 shares of the stock in a transaction that occurred on Wednesday, April 2nd. The shares were sold at an average price of $125.00, for a total transaction of $143,000.00. Following the sale, the chief executive officer now owns 211,082 shares in the company, valued at approximately $26,385,250. This trade represents a 0.54 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, 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 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 directly owns 31,678 shares in the company, valued at $3,712,661.60. This trade represents a 29.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 112,343 shares of company stock worth $13,488,337 over the last ninety days. Corporate insiders own 1.60% of the company’s stock.

The Hartford Financial Services Group Stock Down 8.0 %

Shares of HIG opened at $113.56 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 stock has a market capitalization of $32.41 billion, a PE ratio of 10.97, a P/E/G ratio of 1.12 and a beta of 0.91. The firm’s 50 day moving average is $116.56 and its 200-day moving average is $115.49. The Hartford Financial Services Group, Inc. has a 12 month low of $94.47 and a 12 month high of $125.08.

The Hartford Financial Services Group (NYSE:HIG) last announced its quarterly earnings data on Thursday, January 30th. The insurance provider reported $2.94 earnings per share for the quarter, beating 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%. Equities research analysts forecast that The Hartford Financial Services Group, Inc. will post 11.11 EPS for the current year.

The Hartford Financial Services Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 2nd. Investors of record on Monday, March 3rd were given a dividend of $0.52 per share. The ex-dividend date was Monday, March 3rd. This represents a $2.08 annualized dividend and a yield of 1.83%. The Hartford Financial Services Group’s dividend payout ratio is 20.10%.

Analysts Set New Price Targets

HIG has been the subject of several research reports. Raymond James raised their price objective on shares of The Hartford Financial Services Group from $125.00 to $135.00 and gave the stock an “outperform” rating in a report on Monday, March 31st. Piper Sandler boosted their price target on The Hartford Financial Services Group from $130.00 to $145.00 and gave the company an “overweight” rating in a report on Tuesday. Wells Fargo & Company decreased their price objective on 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. Keefe, Bruyette & Woods boosted their target price on The Hartford Financial Services Group from $139.00 to $140.00 and gave the company an “outperform” rating in a research note on Wednesday, February 5th. Finally, Barclays raised shares of The Hartford Financial Services Group from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $130.00 to $135.00 in a research note on Monday, January 6th. Ten analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, The Hartford Financial Services Group presently has a consensus rating of “Moderate Buy” and a consensus target price of $123.47.

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.