Woodline Partners LP Has $293,000 Position in The Hartford Financial Services Group, Inc. (NYSE:HIG)

Woodline Partners LP lessened its position in The Hartford Financial Services Group, Inc. (NYSE:HIG - Free Report) by 99.4% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 2,676 shares of the insurance provider's stock after selling 430,345 shares during the quarter. Woodline Partners LP's holdings in The Hartford Financial Services Group were worth $293,000 as of its most recent filing with the SEC.

Other institutional investors have also recently made changes to their positions in the company. Norges Bank acquired a new position in shares of The Hartford Financial Services Group during the 4th quarter worth approximately $416,340,000. AustralianSuper Pty Ltd increased its position in shares of The Hartford Financial Services Group by 265.5% during the 4th quarter. AustralianSuper Pty Ltd now owns 1,213,074 shares of the insurance provider's stock worth $132,710,000 after purchasing an additional 881,224 shares during the last quarter. Ameriprise Financial Inc. increased its position in shares of The Hartford Financial Services Group by 48.1% during the 4th quarter. Ameriprise Financial Inc. now owns 2,264,397 shares of the insurance provider's stock worth $247,761,000 after purchasing an additional 735,170 shares during the last quarter. Proficio Capital Partners LLC boosted its stake in shares of The Hartford Financial Services Group by 11,904.7% during the 4th quarter. Proficio Capital Partners LLC now owns 631,565 shares of the insurance provider's stock worth $632,000 after acquiring an additional 626,304 shares during the period. Finally, Raymond James Financial Inc. bought a new position in shares of The Hartford Financial Services Group during the 4th quarter worth approximately $65,256,000. Institutional investors and hedge funds own 93.42% of the company's stock.

The Hartford Financial Services Group Price Performance

Shares of NYSE:HIG traded down $0.24 during trading on Friday, reaching $130.01. 4,803,044 shares of the company traded hands, compared to its average volume of 1,582,768. The company's 50 day moving average is $122.81 and its two-hundred day moving average is $117.35. The firm has a market capitalization of $36.94 billion, a PE ratio of 12.56, a PEG ratio of 1.12 and a beta of 0.70. The company has a quick ratio of 0.32, a current ratio of 0.32 and a debt-to-equity ratio of 0.27. The Hartford Financial Services Group, Inc. has a 52 week low of $98.16 and a 52 week high of $132.09.

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 for the quarter, beating analysts' consensus estimates of $2.15 by $0.05. The firm had revenue of $6.81 billion during 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 company's revenue was up 6.1% compared to the same quarter last year. During the same period in the prior year, the company posted $2.34 EPS. As a group, sell-side analysts predict that The Hartford Financial Services Group, Inc. will post 11.11 earnings per share for the current year.

The Hartford Financial Services Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 2nd. Stockholders of record on Monday, June 2nd will be given a dividend of $0.52 per share. The ex-dividend date is Monday, June 2nd. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.60%. The Hartford Financial Services Group's payout ratio is 20.74%.

Insider Activity

In other news, CEO Christopher Swift sold 98,061 shares of the business's stock in a transaction on Monday, March 17th. The stock was sold at an average price of $120.39, for a total transaction of $11,805,563.79. Following the completion of the transaction, the chief executive officer now owns 211,082 shares of the company's stock, valued at approximately $25,412,161.98. The trade was a 31.72% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Allison G. Niderno sold 1,086 shares of the business's stock in a transaction on Monday, April 28th. The stock was sold at an average price of $119.42, for a total value of $129,690.12. Following the transaction, the senior vice president now directly owns 622 shares of the company's stock, valued at $74,279.24. This trade represents a 63.58% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 113,429 shares of company stock worth $13,618,028. 1.50% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

HIG has been the subject of several research analyst reports. Wells Fargo & Company reduced their target price on The Hartford Financial Services Group from $126.00 to $125.00 and set an "overweight" rating for the company in a research note on Thursday, April 10th. Piper Sandler lifted their target price on 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. Barclays lifted their target price 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. Morgan Stanley lifted their target price on The Hartford Financial Services Group from $115.00 to $130.00 and gave the stock an "equal weight" rating in a research note on Monday, May 19th. Finally, Wall Street Zen upgraded The Hartford Financial Services Group from a "hold" rating to a "buy" rating in a research note on Tuesday, May 20th. Seven investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average 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.