Mackenzie Financial Corp Decreases Stock Position in The Hartford Financial Services Group, Inc. (NYSE:HIG)

Mackenzie Financial Corp cut its holdings in shares of The Hartford Financial Services Group, Inc. (NYSE:HIG - Free Report) by 37.2% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 64,391 shares of the insurance provider's stock after selling 38,172 shares during the quarter. Mackenzie Financial Corp's holdings in The Hartford Financial Services Group were worth $7,044,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of HIG. Catalyst Financial Partners LLC increased its holdings in shares of The Hartford Financial Services Group by 3.0% during the 4th quarter. Catalyst Financial Partners LLC now owns 3,079 shares of the insurance provider's stock valued at $337,000 after purchasing an additional 90 shares in the last quarter. Barrett & Company Inc. increased its holdings in shares of 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 valued at $32,000 after purchasing an additional 93 shares in the last quarter. Wilmington Savings Fund Society FSB increased its holdings in shares of The Hartford Financial Services Group by 2.2% during the 4th 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 in the last quarter. Smithfield Trust Co increased its holdings in shares of The Hartford Financial Services Group by 26.7% during the 4th quarter. Smithfield Trust Co now owns 475 shares of the insurance provider's stock valued at $51,000 after purchasing an additional 100 shares in the last quarter. Finally, Howard Capital Management Inc. grew its stake in The Hartford Financial Services Group by 5.3% in the 4th quarter. Howard Capital Management Inc. now owns 2,164 shares of the insurance provider's stock valued at $237,000 after acquiring an additional 108 shares during the period. 93.42% of the stock is owned by hedge funds and other institutional investors.

The Hartford Financial Services Group Price Performance

The Hartford Financial Services Group stock traded down $0.24 during midday trading on Friday, reaching $130.01. 4,803,044 shares of the company were exchanged, compared to its average volume of 1,582,768. The company has a market capitalization of $36.94 billion, a price-to-earnings ratio of 12.56, a P/E/G ratio of 1.12 and a beta of 0.70. The firm's 50-day simple moving average is $122.81 and its 200-day simple moving average is $117.35. The Hartford Financial Services Group, Inc. has a 1 year low of $98.16 and a 1 year 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 posted its quarterly earnings data 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 Hartford Financial Services Group had a return on equity of 19.55% and a net margin of 11.72%. The firm had revenue of $6.81 billion during the quarter, compared to analysts' expectations of $6.97 billion. During the same quarter last year, the business posted $2.34 EPS. The firm's quarterly revenue was up 6.1% compared to the same quarter last year. On average, 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 disclosed a quarterly dividend, which will be paid on Wednesday, July 2nd. Stockholders of record on Monday, June 2nd will be paid a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.60%. The ex-dividend date of this dividend is Monday, June 2nd. The Hartford Financial Services Group's dividend payout ratio is currently 20.74%.

Insider Activity

In other news, CEO Christopher Swift sold 1,144 shares of the business's stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $125.00, for a total transaction of $143,000.00. Following the completion of the sale, the chief executive officer now owns 211,082 shares in the company, valued at approximately $26,385,250. The trade was a 0.54% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Allison G. Niderno sold 1,086 shares of the business's stock in a transaction dated Monday, April 28th. The stock was sold at an average price of $119.42, for a total value of $129,690.12. Following the sale, the senior vice president now owns 622 shares of the company's stock, valued at $74,279.24. The trade was a 63.58% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 113,429 shares of company stock valued at $13,618,028 in the last 90 days. 1.50% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

HIG has been the topic of a number of research analyst reports. UBS Group lifted their price target on shares of The Hartford Financial Services Group from $139.00 to $142.00 and gave the company a "buy" rating in a research note on Monday, April 28th. JPMorgan Chase & Co. lifted their price target on shares of The Hartford Financial Services Group from $125.00 to $129.00 and gave the company a "neutral" rating in a research note on Tuesday, April 8th. Jefferies Financial Group lowered their target price on shares of The Hartford Financial Services Group from $118.00 to $117.00 and set a "hold" rating on the stock in a research note on Friday, April 11th. Keefe, Bruyette & Woods lowered their target price on shares of The Hartford Financial Services Group from $140.00 to $133.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 9th. Finally, Piper Sandler lifted 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. Seven equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $129.71.

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.