City National Bank of Florida MSD Takes $304,000 Position in The Hartford Financial Services Group, Inc. (NYSE:HIG)

City National Bank of Florida MSD acquired a new position in shares of The Hartford Financial Services Group, Inc. (NYSE:HIG - Free Report) in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 2,783 shares of the insurance provider's stock, valued at approximately $304,000.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Geode Capital Management LLC lifted its position in shares of The Hartford Financial Services Group by 1.1% during the fourth quarter. Geode Capital Management LLC now owns 7,251,389 shares of the insurance provider's stock valued at $792,796,000 after buying an additional 81,495 shares during the last quarter. Victory Capital Management Inc. raised its stake in shares of The Hartford Financial Services Group by 4.5% during the 4th 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. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in The Hartford Financial Services Group by 6.5% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,830,462 shares of the insurance provider's stock valued at $419,053,000 after acquiring an additional 234,320 shares during the last quarter. Norges Bank acquired a new stake in The Hartford Financial Services Group in the fourth quarter valued at approximately $416,340,000. Finally, Northern Trust Corp grew its holdings in The Hartford Financial Services Group by 17.2% in the fourth quarter. Northern Trust Corp now owns 3,537,665 shares of the insurance provider's stock worth $387,021,000 after purchasing an additional 519,717 shares during the last quarter. Institutional investors own 93.42% of the company's stock.

Analysts Set New Price Targets

HIG has been the subject of several analyst reports. Barclays increased their price objective on The Hartford Financial Services Group from $140.00 to $145.00 and gave the company an "overweight" rating in a report on Friday, April 25th. Keefe, Bruyette & Woods lowered their price target on The Hartford Financial Services Group from $140.00 to $133.00 and set an "outperform" rating for the company in a report on Wednesday, April 9th. Raymond James upped their price objective on shares of The Hartford Financial Services Group from $125.00 to $135.00 and gave the company an "outperform" rating in a report on Monday, March 31st. StockNews.com upgraded shares of The Hartford Financial Services Group from a "hold" rating to a "buy" rating in a research note on Tuesday. Finally, Piper Sandler boosted 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 report on Tuesday, April 1st. Seven investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $129.71.

Insider Buying and Selling at The Hartford Financial Services Group

In related 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 completion of the transaction, the executive vice president now directly owns 31,678 shares in the company, valued at $3,712,661.60. The trade was a 29.32% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Allison G. Niderno sold 1,086 shares of the firm's stock in a transaction on Monday, April 28th. The shares were sold at an average price of $119.42, for a total transaction of $129,690.12. Following the sale, the senior vice president now owns 622 shares in the company, valued at approximately $74,279.24. This represents a 63.58% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 113,429 shares of company stock valued at $13,618,028. 1.60% of the stock is owned by company insiders.

The Hartford Financial Services Group Stock Down 1.2%

NYSE:HIG opened at $129.66 on Thursday. 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 company's fifty day moving average price is $121.48 and its 200-day moving average price is $116.66. The Hartford Financial Services Group, Inc. has a 1-year low of $98.16 and a 1-year high of $132.09. The firm has a market capitalization of $36.84 billion, a P/E ratio of 12.53, a PEG ratio of 1.12 and a beta of 0.70.

The Hartford Financial Services Group (NYSE:HIG - Get Free Report) last announced its quarterly earnings results on Thursday, April 24th. The insurance provider reported $2.20 earnings per share for the quarter, topping the consensus estimate of $2.15 by $0.05. The company had revenue of $6.81 billion for the quarter, compared to the consensus estimate of $6.97 billion. The Hartford Financial Services Group had a return on equity of 19.55% and a net margin of 11.72%. The firm's revenue for the quarter was up 6.1% compared to the same quarter last year. During the same period last year, the firm earned $2.34 EPS. As a group, equities research analysts anticipate that The Hartford Financial Services Group, Inc. will post 11.11 EPS for the current year.

The Hartford Financial Services Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 2nd. Shareholders of record on Monday, June 2nd will be issued a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 1.60%. The Hartford Financial Services Group's payout ratio is presently 20.74%.

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.

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