Maryland State Retirement & Pension System Decreases Position in The Hartford Financial Services Group, Inc. (NYSE:HIG)

Maryland State Retirement & Pension System cut its position in The Hartford Financial Services Group, Inc. (NYSE:HIG) by 8.9% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 15,456 shares of the insurance provider’s stock after selling 1,505 shares during the period. Maryland State Retirement & Pension System’s holdings in The Hartford Financial Services Group were worth $1,691,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Thurston Springer Miller Herd & Titak Inc. raised its holdings in The Hartford Financial Services Group by 3,342.9% in the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 241 shares of the insurance provider’s stock worth $26,000 after buying an additional 234 shares during the last quarter. Barrett & Company Inc. raised its holdings in The Hartford Financial Services Group by 46.5% in the fourth quarter. Barrett & Company Inc. now owns 293 shares of the insurance provider’s stock worth $32,000 after buying an additional 93 shares during the last quarter. BNP Paribas purchased a new position in The Hartford Financial Services Group in the third quarter worth about $35,000. DT Investment Partners LLC grew its stake in shares of The Hartford Financial Services Group by 49.8% in the fourth quarter. DT Investment Partners LLC now owns 331 shares of the insurance provider’s stock worth $36,000 after acquiring an additional 110 shares during the period. Finally, Flagship Wealth Advisors LLC bought a new stake in shares of The Hartford Financial Services Group in the fourth quarter worth approximately $36,000. 93.42% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

HIG has been the subject of a number of research analyst reports. Wells Fargo & Company reduced their price target on shares of 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. Piper Sandler lifted their price target on shares of The Hartford Financial Services Group from $127.00 to $130.00 and gave the stock an “overweight” rating in a research note on Monday, February 3rd. Barclays upgraded shares of 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. Keefe, Bruyette & Woods lifted their price target on shares of The Hartford Financial Services Group from $139.00 to $140.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 5th. Finally, StockNews.com lowered shares of The Hartford Financial Services Group from a “buy” rating to a “hold” rating in a research note on Tuesday. Ten equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $122.94.

The Hartford Financial Services Group Stock Performance

HIG opened at $119.20 on Friday. The firm has a market cap of $34.02 billion, a P/E ratio of 11.52, a PEG ratio of 1.12 and a beta of 0.91. The Hartford Financial Services Group, Inc. has a 1-year low of $94.47 and a 1-year high of $124.90. The company has a 50 day simple moving average of $114.36 and a two-hundred day simple moving average of $115.05. 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 (NYSE:HIG) last posted its quarterly earnings results on Thursday, January 30th. The insurance provider reported $2.94 earnings per share for the quarter, topping analysts’ consensus estimates 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%. Equities 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 announced a quarterly dividend, which will be paid on Wednesday, April 2nd. Stockholders of record on Monday, March 3rd will be issued a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 1.74%. The ex-dividend date of this dividend is Monday, March 3rd. The Hartford Financial Services Group’s dividend payout ratio (DPR) is presently 20.10%.

Insider Transactions at The Hartford Financial Services Group

In other news, CEO Christopher Swift sold 98,061 shares of the business’s stock in a transaction on Monday, March 17th. The shares were sold at an average price of $120.39, for a total value of $11,805,563.79. Following the transaction, the chief executive officer now owns 211,082 shares of the company’s stock, valued at approximately $25,412,161.98. The trade was a 31.72 % decrease in their ownership of the stock. The transaction was disclosed in a 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 on 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 completion of the transaction, the executive vice president now directly owns 31,678 shares in the company, 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 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.