Pinebridge Investments L.P. Sells 19,998 Shares of The Hartford Financial Services Group, Inc. (NYSE:HIG)

Pinebridge Investments L.P. lessened its position in The Hartford Financial Services Group, Inc. (NYSE:HIG - Free Report) by 6.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 315,144 shares of the insurance provider's stock after selling 19,998 shares during the period. Pinebridge Investments L.P. owned 0.11% of The Hartford Financial Services Group worth $34,477,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. World Investment Advisors LLC bought a new position in The Hartford Financial Services Group in the 3rd quarter valued at approximately $661,000. Wilmington Savings Fund Society FSB bought a new position in shares of The Hartford Financial Services Group during the third quarter valued at $514,000. Tidal Investments LLC lifted its holdings in shares of The Hartford Financial Services Group by 73.0% during the third quarter. Tidal Investments LLC now owns 17,774 shares of the insurance provider's stock worth $2,090,000 after purchasing an additional 7,500 shares during the period. Synovus Financial Corp grew its stake in shares of The Hartford Financial Services Group by 4.0% in the third quarter. Synovus Financial Corp now owns 10,029 shares of the insurance provider's stock worth $1,180,000 after purchasing an additional 384 shares during the last quarter. Finally, Peapack Gladstone Financial Corp acquired a new stake in The Hartford Financial Services Group in the third quarter valued at $420,000. 93.42% of the stock is currently owned by institutional investors.

The Hartford Financial Services Group Stock Up 0.6 %

NYSE HIG traded up $0.73 during trading hours on Monday, hitting $119.49. The company's stock had a trading volume of 379,234 shares, compared to its average volume of 1,565,052. The company has a current ratio of 0.32, a quick ratio of 0.32 and a debt-to-equity ratio of 0.27. The company's 50-day simple moving average is $117.66 and its two-hundred day simple moving average is $115.39. The company has a market capitalization of $34.41 billion, a PE ratio of 11.55, a price-to-earnings-growth ratio of 1.12 and a beta of 0.68. The Hartford Financial Services Group, Inc. has a 52 week low of $95.00 and a 52 week high of $125.08.

The Hartford Financial Services Group (NYSE:HIG - Get Free Report) last issued its quarterly earnings data on Thursday, April 24th. The insurance provider reported $2.20 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.15 by $0.05. The business 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 net margin of 11.72% and a return on equity of 19.55%. The firm's quarterly revenue was up 6.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.34 EPS. Research analysts anticipate 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 announced a quarterly dividend, which was paid on Wednesday, April 2nd. Shareholders of record on Monday, March 3rd were paid a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 1.74%. The ex-dividend date of this dividend was Monday, March 3rd. The Hartford Financial Services Group's payout ratio is 20.10%.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on HIG. Keefe, Bruyette & Woods decreased 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 research note on Wednesday, April 9th. Piper Sandler increased their price objective 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. JPMorgan Chase & Co. upped 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 report on Tuesday, April 8th. Royal Bank of Canada reissued a "sector perform" rating and issued a $125.00 price objective on shares of The Hartford Financial Services Group in a research report on Monday, February 3rd. Finally, StockNews.com upgraded The Hartford Financial Services Group from a "hold" rating to a "buy" rating in a research report on Thursday, April 17th. Seven investment 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 company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $126.40.

Insider Buying and Selling at The Hartford Financial Services Group

In other news, CEO Christopher Swift sold 98,061 shares of the 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 in the company, valued at approximately $25,412,161.98. This represents a 31.72 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Robert W. Paiano sold 13,138 shares of the business's stock in a transaction dated 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 sale, the executive vice president now owns 31,678 shares in the company, valued at $3,712,661.60. This represents a 29.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 112,343 shares of company stock valued at $13,488,337. Company insiders own 1.60% of the company's stock.

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.