MetLife Investment Management LLC Boosts Stock Position in The Hartford Financial Services Group, Inc. (NYSE:HIG)

MetLife Investment Management LLC raised its position in shares of The Hartford Financial Services Group, Inc. (NYSE:HIG) by 0.7% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 76,718 shares of the insurance provider’s stock after buying an additional 538 shares during the quarter. MetLife Investment Management LLC’s holdings in The Hartford Financial Services Group were worth $8,393,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Horizon Advisory Services Inc. purchased a new stake in The Hartford Financial Services Group in the fourth quarter valued at about $277,000. Assenagon Asset Management S.A. raised its position in shares of The Hartford Financial Services Group by 437.9% in the 4th quarter. Assenagon Asset Management S.A. now owns 871,318 shares of the insurance provider’s stock valued at $95,322,000 after purchasing an additional 709,324 shares during the last quarter. Victory Capital Management Inc. raised its position in shares of 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 purchasing an additional 202,487 shares during the last quarter. Suncoast Equity Management acquired a new stake in The Hartford Financial Services Group in the 4th quarter worth approximately $311,000. Finally, Empowered Funds LLC grew its position in The Hartford Financial Services Group by 62.1% during the 4th quarter. Empowered Funds LLC now owns 28,622 shares of the insurance provider’s stock worth $3,131,000 after purchasing an additional 10,964 shares during the last quarter. 93.42% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the company. Wells Fargo & Company decreased their target price on The Hartford Financial Services Group from $126.00 to $125.00 and set an “overweight” rating for the company in a report on Thursday, April 10th. Jefferies Financial Group decreased their price objective on shares of The Hartford Financial Services Group from $118.00 to $117.00 and set a “hold” rating for the company in a research note on Friday, April 11th. Raymond James increased their price objective on shares of The Hartford Financial Services Group from $125.00 to $135.00 and gave the stock an “outperform” rating in a research note on Monday, March 31st. Piper Sandler boosted their target price on shares of 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. Finally, Barclays increased their price target on The Hartford Financial Services Group from $135.00 to $140.00 and gave the stock an “overweight” rating in a research report on Friday, April 11th. Eight equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $124.13.

The Hartford Financial Services Group Trading Down 2.9 %

HIG stock opened at $114.33 on Tuesday. The Hartford Financial Services Group, Inc. has a 12-month low of $94.47 and a 12-month high of $125.08. The business’s 50-day moving average is $117.14 and its 200 day moving average is $115.30. 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 stock has a market cap of $32.93 billion, a price-to-earnings ratio of 11.05, a PEG ratio of 1.12 and a beta of 0.68.

The Hartford Financial Services Group (NYSE:HIG) last issued its quarterly earnings results on Thursday, January 30th. The insurance provider reported $2.94 EPS for the quarter, topping 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%. On average, sell-side analysts anticipate that The Hartford Financial Services Group, Inc. will post 11.11 EPS for the current fiscal year.

The Hartford Financial Services Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 2nd. Investors of record on Monday, March 3rd were given a dividend of $0.52 per share. The ex-dividend date was Monday, March 3rd. This represents a $2.08 dividend on an annualized basis and a yield of 1.82%. The Hartford Financial Services Group’s payout ratio is presently 20.10%.

Insider Activity at The Hartford Financial Services Group

In other news, CEO Christopher Swift sold 1,144 shares of the company’s stock in a transaction that occurred 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 completion of the sale, the chief executive officer now directly owns 211,082 shares in the company, valued at $26,385,250. This represents a 0.54 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Robert W. Paiano sold 13,138 shares of The Hartford Financial Services Group stock in a transaction that occurred on Tuesday, March 11th. The stock was sold at an average price of $117.20, for a total value of $1,539,773.60. Following the transaction, the executive vice president now owns 31,678 shares in the company, valued at approximately $3,712,661.60. The trade was a 29.32 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 112,343 shares of company stock valued at $13,488,337. Corporate insiders own 1.60% of the company’s stock.

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.