The Manufacturers Life Insurance Company Increases Stake in The Hartford Financial Services Group, Inc. (NYSE:HIG)

The Manufacturers Life Insurance Company increased its holdings in The Hartford Financial Services Group, Inc. (NYSE:HIG - Free Report) by 18.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 407,222 shares of the insurance provider's stock after buying an additional 63,313 shares during the period. The Manufacturers Life Insurance Company owned 0.14% of The Hartford Financial Services Group worth $44,550,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in HIG. Geode Capital Management LLC increased its position in shares of The Hartford Financial Services Group by 1.1% in 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. increased its holdings in The Hartford Financial Services Group by 4.5% in the 4th quarter. Victory Capital Management Inc. now owns 4,701,675 shares of the insurance provider's stock valued at $514,363,000 after buying an additional 202,487 shares during the period. Nordea Investment Management AB raised its position in shares of The Hartford Financial Services Group by 17.3% in the 4th quarter. Nordea Investment Management AB now owns 3,938,421 shares of the insurance provider's stock valued at $430,272,000 after buying an additional 581,103 shares in the last quarter. Norges Bank acquired a new stake in shares of The Hartford Financial Services Group during the 4th quarter worth approximately $416,340,000. Finally, Massachusetts Financial Services Co. MA increased its stake in The Hartford Financial Services Group by 0.7% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 3,448,982 shares of the insurance provider's stock valued at $377,319,000 after acquiring an additional 25,053 shares during the last quarter. Institutional investors and hedge funds own 93.42% of the company's stock.

The Hartford Financial Services Group Price Performance

NYSE:HIG traded up $0.81 during trading hours on Tuesday, hitting $126.52. The stock had a trading volume of 219,667 shares, compared to its average volume of 1,566,457. The company has a 50 day simple moving average of $118.79 and a two-hundred day simple moving average of $115.54. The firm has a market capitalization of $35.94 billion, a price-to-earnings ratio of 12.22, a P/E/G ratio of 1.12 and a beta of 0.70. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.32 and a quick ratio of 0.32. The Hartford Financial Services Group, Inc. has a one year low of $98.16 and a one year high of $126.68.

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 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 business had revenue of $6.81 billion for the quarter, compared to analyst estimates of $6.97 billion. During the same period in the prior year, the company earned $2.34 EPS. The company's quarterly revenue was up 6.1% compared to the same quarter last year. Research analysts forecast that The Hartford Financial Services Group, Inc. will post 11.11 earnings per share for the current fiscal year.

The Hartford Financial Services Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 2nd. Shareholders of record on Monday, March 3rd were paid a $0.52 dividend. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $2.08 dividend on an annualized basis and a yield of 1.64%. The Hartford Financial Services Group's dividend payout ratio is presently 20.74%.

Insider Transactions at The Hartford Financial Services Group

In other news, SVP Allison G. Niderno sold 1,086 shares of the business's stock in a transaction that occurred on Monday, April 28th. The shares were sold at an average price of $119.42, for a total value of $129,690.12. Following the completion of the sale, the senior vice president now directly owns 622 shares in the company, valued at approximately $74,279.24. The trade was a 63.58 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Robert W. Paiano sold 13,138 shares of the stock in a transaction on Tuesday, March 11th. The shares were sold at an average price of $117.20, for a total transaction of $1,539,773.60. Following the transaction, the executive vice president now directly owns 31,678 shares in the company, valued at approximately $3,712,661.60. This represents a 29.32 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 113,429 shares of company stock valued at $13,618,028 in the last quarter. Insiders own 1.50% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on HIG shares. StockNews.com raised The Hartford Financial Services Group from a "hold" rating to a "buy" rating in a report on Tuesday, April 29th. JPMorgan Chase & Co. raised their price objective on 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. Barclays boosted 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. Keefe, Bruyette & Woods reduced their price target 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 boosted 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 research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, The Hartford Financial Services Group has a consensus rating of "Moderate Buy" and a consensus price target of $126.87.

The Hartford Financial Services Group 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.