Harbor Capital Advisors Inc. Sells 6,267 Shares of The Hartford Financial Services Group, Inc. (NYSE:HIG)

Harbor Capital Advisors Inc. lessened its stake in shares of The Hartford Financial Services Group, Inc. (NYSE:HIG - Free Report) by 95.3% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 309 shares of the insurance provider's stock after selling 6,267 shares during the quarter. Harbor Capital Advisors Inc.'s holdings in The Hartford Financial Services Group were worth $38,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in the stock. Geode Capital Management LLC boosted its position in 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 worth $792,796,000 after purchasing an additional 81,495 shares during the period. Victory Capital Management Inc. boosted its holdings 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 buying an additional 202,487 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in The Hartford Financial Services Group by 6.5% in the 4th 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 buying an additional 234,320 shares during the last quarter. Norges Bank bought a new position in The Hartford Financial Services Group in the 4th quarter worth $416,340,000. Finally, Northern Trust Corp raised its holdings in The Hartford Financial Services Group by 17.2% in the 4th quarter. Northern Trust Corp now owns 3,537,665 shares of the insurance provider's stock worth $387,021,000 after acquiring an additional 519,717 shares during the period. Institutional investors and hedge funds own 93.42% of the company's stock.

The Hartford Financial Services Group Price Performance

Shares of The Hartford Financial Services Group stock opened at $125.11 on Monday. The firm has a market cap of $35.54 billion, a P/E ratio of 12.09, a price-to-earnings-growth ratio of 1.12 and a beta of 0.71. The firm's 50-day simple moving average is $124.32 and its 200-day simple moving average is $117.83. The Hartford Financial Services Group, Inc. has a twelve month low of $98.16 and a twelve month high of $132.09. 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 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 EPS for the quarter, topping analysts' consensus estimates of $2.15 by $0.05. The firm had revenue of $6.81 billion during the quarter, compared to analysts' expectations of $6.97 billion. The Hartford Financial Services Group had a net margin of 11.72% and a return on equity of 19.55%. The company's revenue for the quarter was up 6.1% compared to the same quarter last year. During the same quarter last year, the company earned $2.34 earnings per share. As a group, research analysts expect that The Hartford Financial Services Group, Inc. will post 11.11 EPS for the current fiscal year.

The Hartford Financial Services Group Dividend Announcement

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 given a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 1.66%. The ex-dividend date is Monday, June 2nd. The Hartford Financial Services Group's dividend payout ratio (DPR) is 20.74%.

Insiders Place Their Bets

In other news, SVP Allison G. Niderno sold 1,086 shares of the stock in a transaction on Monday, April 28th. The stock was 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Christopher Swift sold 1,144 shares of The Hartford Financial Services Group stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $125.00, for a total value of $143,000.00. Following the completion of the sale, the chief executive officer now directly owns 211,082 shares of the company's stock, valued at $26,385,250. This trade represents a 0.54% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.50% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the company. Piper Sandler raised their price target on The Hartford Financial Services Group from $130.00 to $145.00 and gave the company an "overweight" rating in a research report on Tuesday, April 1st. Keefe, Bruyette & Woods dropped their price target on The Hartford Financial Services Group from $140.00 to $133.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 9th. Wall Street Zen upgraded The Hartford Financial Services Group from a "hold" rating to a "buy" rating in a report on Tuesday, May 20th. Wells Fargo & Company lowered their price objective on shares of The Hartford Financial Services Group from $126.00 to $125.00 and set an "overweight" rating on the stock in a research note on Thursday, April 10th. Finally, Morgan Stanley upped their target price on shares of The Hartford Financial Services Group from $115.00 to $130.00 and gave the company an "equal weight" rating in a research note on Monday, May 19th. Seven analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, The Hartford Financial Services Group presently has an average rating of "Moderate Buy" and an average target price of $131.15.

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.

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