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

Fmr LLC decreased its position in shares of The Hartford Financial Services Group, Inc. (NYSE:HIG) by 19.5% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 11,171,508 shares of the insurance provider’s stock after selling 2,709,369 shares during the period. Fmr LLC’s holdings in The Hartford Financial Services Group were worth $1,222,163,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Catalyst Financial Partners LLC lifted its stake in shares of The Hartford Financial Services Group by 3.0% in the fourth quarter. Catalyst Financial Partners LLC now owns 3,079 shares of the insurance provider’s stock worth $337,000 after acquiring an additional 90 shares in the last quarter. Barrett & Company Inc. increased its holdings in 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 worth $32,000 after purchasing an additional 93 shares during the last quarter. Wilmington Savings Fund Society FSB raised its position in shares of The Hartford Financial Services Group by 2.2% in 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. Lifestyle Asset Management Inc. boosted its stake in shares of The Hartford Financial Services Group by 0.9% during the 4th quarter. Lifestyle Asset Management Inc. now owns 11,499 shares of the insurance provider’s stock valued at $1,258,000 after buying an additional 98 shares during the last quarter. Finally, Smithfield Trust Co grew its position in shares of The Hartford Financial Services Group by 26.7% during the fourth quarter. Smithfield Trust Co now owns 475 shares of the insurance provider’s stock worth $51,000 after buying an additional 100 shares in the last quarter. Institutional investors and hedge funds own 93.42% of the company’s stock.

The Hartford Financial Services Group Stock Performance

HIG opened at $113.56 on Monday. The business has a 50 day moving average price of $116.56 and a two-hundred day moving average price of $115.47. 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 company has a market capitalization of $32.41 billion, a price-to-earnings ratio of 10.97, a price-to-earnings-growth ratio of 1.12 and a beta of 0.68. The Hartford Financial Services Group, Inc. has a 1-year low of $94.47 and a 1-year high of $125.08.

The Hartford Financial Services Group (NYSE:HIG) last announced its earnings results on Thursday, January 30th. The insurance provider reported $2.94 earnings per share for the quarter, beating the consensus estimate of $2.68 by $0.26. The Hartford Financial Services Group had a return on equity of 19.55% and a net margin of 11.72%. Research analysts predict 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 firm also recently announced a quarterly dividend, which was paid on Wednesday, April 2nd. Investors of record on Monday, March 3rd were issued 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 dividend yield of 1.83%. The Hartford Financial Services Group’s payout ratio is currently 20.10%.

Analyst Ratings Changes

A number of research analysts have commented on the stock. StockNews.com downgraded shares of The Hartford Financial Services Group from a “buy” rating to a “hold” rating in a research note on Tuesday, March 18th. Barclays upgraded The Hartford Financial Services Group from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $130.00 to $135.00 in a research note on Monday, January 6th. Wells Fargo & Company cut their price objective on The Hartford Financial Services Group from $130.00 to $126.00 and set an “overweight” rating on the stock in a research note on Monday, February 3rd. Raymond James lifted their target price on The Hartford Financial Services Group from $125.00 to $135.00 and gave the stock an “outperform” rating in a research report on Monday, March 31st. Finally, Piper Sandler upped their price target on The Hartford Financial Services Group from $130.00 to $145.00 and gave the company an “overweight” rating in a research report on Tuesday, April 1st. Ten analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, The Hartford Financial Services Group has an average rating of “Moderate Buy” and an average target price of $123.47.

Insider Activity at The Hartford Financial Services Group

In other The Hartford Financial Services Group news, 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 value of $143,000.00. Following the transaction, the chief executive officer now owns 211,082 shares of the company’s stock, valued at approximately $26,385,250. This represents a 0.54 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible 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 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 $3,712,661.60. This trade represents a 29.32 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 112,343 shares of company stock valued at $13,488,337 over the last ninety days. Insiders own 1.60% of the company’s stock.

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.