State of Tennessee Department of Treasury Decreases Stake in The Hartford Financial Services Group, Inc. (NYSE:HIG)

State of Tennessee Department of Treasury trimmed its stake in shares of The Hartford Financial Services Group, Inc. (NYSE:HIG - Free Report) by 4.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 106,536 shares of the insurance provider's stock after selling 4,703 shares during the period. State of Tennessee Department of Treasury's holdings in The Hartford Financial Services Group were worth $11,655,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in HIG. Tower Research Capital LLC TRC raised its position in shares of The Hartford Financial Services Group by 217.5% in the fourth quarter. Tower Research Capital LLC TRC now owns 23,484 shares of the insurance provider's stock valued at $2,569,000 after purchasing an additional 16,087 shares during the period. MetLife Investment Management LLC lifted its stake in shares of The Hartford Financial Services Group by 0.7% in the 4th quarter. MetLife Investment Management LLC now owns 76,718 shares of the insurance provider's stock valued at $8,393,000 after acquiring an additional 538 shares during the last quarter. Natixis increased its stake in shares of The Hartford Financial Services Group by 155.8% in the fourth quarter. Natixis now owns 115,938 shares of the insurance provider's stock valued at $12,684,000 after buying an additional 70,608 shares during the period. Norinchukin Bank The boosted its position in shares of The Hartford Financial Services Group by 9.9% during the 4th quarter. Norinchukin Bank The now owns 13,515 shares of the insurance provider's stock valued at $1,479,000 after purchasing an additional 1,214 shares in the last quarter. Finally, Ossiam grew its stake in The Hartford Financial Services Group by 728.7% during the fourth quarter. Ossiam now owns 110,822 shares of the insurance provider's stock worth $12,124,000 after purchasing an additional 97,449 shares during the period. 93.42% of the stock is owned by institutional investors.

The Hartford Financial Services Group Stock Up 0.7 %

HIG traded up $0.90 during midday trading on Tuesday, reaching $121.31. The company's stock had a trading volume of 458,500 shares, compared to its average volume of 1,565,434. The firm has a market capitalization of $34.94 billion, a price-to-earnings ratio of 11.71, a PEG ratio of 1.12 and a beta of 0.68. The stock's 50-day moving average is $117.81 and its 200-day moving average is $115.42. 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 Hartford Financial Services Group, Inc. has a 1 year low of $95.00 and a 1 year high of $125.08.

The Hartford Financial Services Group (NYSE:HIG - Get Free Report) last announced its earnings results on Thursday, April 24th. The insurance provider reported $2.20 earnings per share (EPS) for the quarter, beating the consensus estimate 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 business had revenue of $6.81 billion during the quarter, compared to analyst estimates of $6.97 billion. During the same quarter in the previous year, the business earned $2.34 earnings per share. The company's revenue for the quarter was up 6.1% compared to the same quarter last year. As a group, research analysts expect that The Hartford Financial Services Group, Inc. will post 11.11 EPS for the current year.

The Hartford Financial Services Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 2nd. Stockholders of record on Monday, March 3rd were given a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.71%. The ex-dividend date was Monday, March 3rd. The Hartford Financial Services Group's payout ratio is currently 20.10%.

Insiders Place Their Bets

In related news, EVP Robert W. Paiano sold 13,138 shares of The Hartford Financial Services Group 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 sale, the executive vice president now owns 31,678 shares of the company's stock, valued at approximately $3,712,661.60. This trade represents a 29.32 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Christopher Swift sold 1,144 shares of the company's stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $125.00, for a total transaction of $143,000.00. Following the transaction, the chief executive officer now owns 211,082 shares of the company's stock, valued at $26,385,250. This represents a 0.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 112,343 shares of company stock valued at $13,488,337. 1.60% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. Raymond James boosted their target price on shares of The Hartford Financial Services Group from $125.00 to $135.00 and gave the company an "outperform" rating in a research report on Monday, March 31st. Piper Sandler boosted their price target on shares of The Hartford Financial Services Group from $130.00 to $145.00 and gave the stock an "overweight" rating in a report on Tuesday, April 1st. Barclays increased their price target on The Hartford Financial Services Group from $140.00 to $145.00 and gave the company an "overweight" rating in a research report on Friday. Jefferies Financial Group decreased their price objective on 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. Finally, 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. Seven analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, The Hartford Financial Services Group has a consensus rating of "Moderate Buy" and an average target price of $126.87.

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.