Comerica Bank cut its position in The Hartford Financial Services Group, Inc. (NYSE:HIG - Free Report) by 5.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 85,287 shares of the insurance provider's stock after selling 4,774 shares during the quarter. Comerica Bank's holdings in The Hartford Financial Services Group were worth $9,330,000 at the end of the most recent quarter.
Other hedge funds have also recently added to or reduced their stakes in the company. Catalyst Financial Partners LLC grew its position in shares of The Hartford Financial Services Group by 3.0% during the fourth quarter. Catalyst Financial Partners LLC now owns 3,079 shares of the insurance provider's stock worth $337,000 after acquiring an additional 90 shares during the last quarter. Barrett & Company Inc. grew its position in The Hartford Financial Services Group by 46.5% during the 4th quarter. Barrett & Company Inc. now owns 293 shares of the insurance provider's stock worth $32,000 after purchasing an additional 93 shares during the last quarter. Wilmington Savings Fund Society FSB increased its stake in The Hartford Financial Services Group by 2.2% in the fourth quarter. Wilmington Savings Fund Society FSB now owns 4,468 shares of the insurance provider's stock valued at $489,000 after purchasing an additional 97 shares during the period. Lifestyle Asset Management Inc. increased its stake in The Hartford Financial Services Group by 0.9% in the fourth quarter. Lifestyle Asset Management Inc. now owns 11,499 shares of the insurance provider's stock valued at $1,258,000 after purchasing an additional 98 shares during the period. Finally, Smithfield Trust Co raised its holdings in shares of The Hartford Financial Services Group by 26.7% in the fourth quarter. Smithfield Trust Co now owns 475 shares of the insurance provider's stock valued at $51,000 after buying an additional 100 shares during the last quarter. Hedge funds and other institutional investors own 93.42% of the company's stock.
The Hartford Financial Services Group Trading Up 0.8 %
NYSE HIG traded up $1.03 during trading hours on Tuesday, hitting $126.74. 1,403,804 shares of the company's stock were exchanged, compared to its average volume of 1,571,645. 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 capitalization of $36.01 billion, a P/E ratio of 12.25, a price-to-earnings-growth ratio of 1.12 and a beta of 0.70. The business's 50 day moving average is $118.79 and its 200-day moving average is $115.54. The Hartford Financial Services Group, Inc. has a 12-month low of $98.16 and a 12-month high of $130.50.
The Hartford Financial Services Group (NYSE:HIG - Get Free Report) last released its earnings results on Thursday, April 24th. The insurance provider reported $2.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.15 by $0.05. The Hartford Financial Services Group had a net margin of 11.72% and a return on equity of 19.55%. The business had revenue of $6.81 billion for the quarter, compared to analysts' expectations of $6.97 billion. During the same period last year, the company earned $2.34 earnings per share. The company's quarterly revenue was up 6.1% on a year-over-year basis. As a group, analysts anticipate 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 announced a quarterly dividend, which was paid on Wednesday, April 2nd. Investors of record on Monday, March 3rd were given a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 1.64%. The ex-dividend date of this dividend was Monday, March 3rd. The Hartford Financial Services Group's dividend payout ratio (DPR) is currently 20.74%.
Insider Activity at The Hartford Financial Services Group
In related news, 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 transaction, the executive vice president now owns 31,678 shares in the company, valued at approximately $3,712,661.60. The trade was a 29.32 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Allison G. Niderno sold 1,086 shares of the firm's stock in a transaction dated Monday, April 28th. The shares were sold at an average price of $119.42, for a total value of $129,690.12. Following the completion of the transaction, the senior vice president now directly owns 622 shares in the company, valued at $74,279.24. This trade represents a 63.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 113,429 shares of company stock worth $13,618,028. 1.50% of the stock is owned by insiders.
Analyst Ratings Changes
Several equities research analysts have recently commented on HIG shares. Barclays upped their price target on The Hartford Financial Services Group from $140.00 to $145.00 and gave the stock an "overweight" rating in a research note on Friday, April 25th. Piper Sandler raised their target price on shares of The Hartford Financial Services Group from $130.00 to $145.00 and gave the stock an "overweight" rating in a research note on Tuesday, April 1st. JPMorgan Chase & Co. boosted their price target on shares of The Hartford Financial Services Group from $125.00 to $129.00 and gave the stock a "neutral" rating in a research note on Tuesday, April 8th. StockNews.com upgraded shares of The Hartford Financial Services Group from a "hold" rating to a "buy" rating in a research report on Tuesday, April 29th. Finally, Keefe, Bruyette & Woods lowered their price objective on The Hartford Financial Services Group from $140.00 to $133.00 and set an "outperform" rating on the stock in a report on Wednesday, April 9th. Seven investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $126.87.
Check Out Our Latest Analysis on The Hartford Financial Services Group
The Hartford Financial Services Group Company Profile
(
Free Report)
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.
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