Grantham Mayo Van Otterloo & Co. LLC Cuts Stock Position in The Hartford Financial Services Group, Inc. (NYSE:HIG)

Grantham Mayo Van Otterloo & Co. LLC trimmed its position in shares of The Hartford Financial Services Group, Inc. (NYSE:HIG) by 12.5% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 142,228 shares of the insurance provider’s stock after selling 20,292 shares during the quarter. Grantham Mayo Van Otterloo & Co. LLC’s holdings in The Hartford Financial Services Group were worth $15,560,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Catalyst Financial Partners LLC boosted its stake in 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 valued at $337,000 after acquiring an additional 90 shares in the last quarter. Barrett & Company Inc. lifted its holdings in shares of 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 valued at $32,000 after purchasing an additional 93 shares during the last quarter. Wilmington Savings Fund Society FSB boosted 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 worth $489,000 after purchasing an additional 97 shares in the last quarter. Lifestyle Asset Management Inc. grew its stake in 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 worth $1,258,000 after buying an additional 98 shares during the last quarter. Finally, Smithfield Trust Co increased its position in The Hartford Financial Services Group by 26.7% during the 4th quarter. Smithfield Trust Co now owns 475 shares of the insurance provider’s stock valued at $51,000 after buying an additional 100 shares in the last quarter. 93.42% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the company. Piper Sandler raised their price target on 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. Keefe, Bruyette & Woods boosted their target price on shares of The Hartford Financial Services Group from $139.00 to $140.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 5th. Barclays upgraded shares of The Hartford Financial Services Group from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $130.00 to $135.00 in a research note on Monday, January 6th. StockNews.com lowered shares of The Hartford Financial Services Group from a “buy” rating to a “hold” rating in a report on Tuesday, March 18th. Finally, Wells Fargo & Company reduced their target price on The Hartford Financial Services Group from $130.00 to $126.00 and set an “overweight” rating for the company in a research note on Monday, February 3rd. Ten investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, The Hartford Financial Services Group currently has a consensus rating of “Moderate Buy” and an average price target of $123.47.

The Hartford Financial Services Group Stock Down 8.0 %

Shares of HIG stock opened at $113.56 on Monday. The Hartford Financial Services Group, Inc. has a twelve month low of $94.47 and a twelve month high of $125.08. The stock has a market cap of $32.41 billion, a P/E ratio of 10.97, a P/E/G ratio of 1.12 and a beta of 0.68. The stock has a 50 day moving average of $116.56 and a 200 day moving average of $115.47. 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 (NYSE:HIG) last posted 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 net margin of 11.72% and a return on equity of 19.55%. As a group, sell-side 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 announced a quarterly dividend, which was paid on Wednesday, April 2nd. Stockholders of record on Monday, March 3rd were paid a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 1.83%. The ex-dividend date was Monday, March 3rd. The Hartford Financial Services Group’s payout ratio is currently 20.10%.

Insider Activity

In related news, CEO Christopher Swift sold 1,144 shares of the business’s stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $125.00, for a total value of $143,000.00. Following the completion of the sale, the chief executive officer now owns 211,082 shares of the company’s stock, valued at approximately $26,385,250. The trade was a 0.54 % decrease in their position. The sale 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 company’s stock in a transaction dated Tuesday, March 11th. The stock was 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 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 disclosure for this sale can be found here. Insiders have sold 112,343 shares of company stock worth $13,488,337 in the last ninety days. Company 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.