Allspring Global Investments Holdings LLC Has $9.33 Million Stock Holdings in The Hartford Financial Services Group, Inc. (NYSE:HIG)

Allspring Global Investments Holdings LLC lowered its position in shares of The Hartford Financial Services Group, Inc. (NYSE:HIG) by 9.1% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 116,042 shares of the insurance provider’s stock after selling 11,648 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in The Hartford Financial Services Group were worth $9,327,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the company. Eastern Bank increased its position in shares of The Hartford Financial Services Group by 0.4% during the 4th quarter. Eastern Bank now owns 260,747 shares of the insurance provider’s stock worth $20,959,000 after purchasing an additional 992 shares in the last quarter. International Assets Investment Management LLC acquired a new stake in shares of The Hartford Financial Services Group during the 4th quarter worth about $11,394,000. Bleakley Financial Group LLC increased its position in shares of The Hartford Financial Services Group by 3.4% during the 4th quarter. Bleakley Financial Group LLC now owns 5,164 shares of the insurance provider’s stock worth $415,000 after purchasing an additional 168 shares in the last quarter. Peoples Bank OH acquired a new stake in shares of The Hartford Financial Services Group during the 4th quarter worth about $212,000. Finally, Nisa Investment Advisors LLC increased its position in shares of The Hartford Financial Services Group by 3.9% during the 4th quarter. Nisa Investment Advisors LLC now owns 87,608 shares of the insurance provider’s stock worth $7,042,000 after purchasing an additional 3,300 shares in the last quarter. Institutional investors and hedge funds own 93.42% of the company’s stock.

The Hartford Financial Services Group Stock Up 0.4 %

Shares of NYSE HIG opened at $97.73 on Wednesday. The firm’s 50-day moving average is $97.37 and its 200-day moving average is $84.90. The Hartford Financial Services Group, Inc. has a 1 year low of $67.05 and a 1 year high of $103.64. The firm has a market capitalization of $29.06 billion, a PE ratio of 12.23, a price-to-earnings-growth ratio of 1.38 and a beta of 0.89. The company has a current ratio of 0.32, a quick ratio of 0.32 and a debt-to-equity ratio of 0.29.

The Hartford Financial Services Group (NYSE:HIG) last released its quarterly earnings data on Friday, February 2nd. The insurance provider reported $3.06 earnings per share for the quarter, topping the consensus estimate of $2.44 by $0.62. The Hartford Financial Services Group had a net margin of 10.21% and a return on equity of 19.82%. The business had revenue of $6.40 billion for the quarter, compared to analyst estimates of $5.84 billion. During the same quarter last year, the firm earned $2.31 EPS. The Hartford Financial Services Group’s quarterly revenue was up 6.4% compared to the same quarter last year. Equities analysts expect that The Hartford Financial Services Group, Inc. will post 10.12 EPS for the current year.

The Hartford Financial Services Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 2nd. Investors of record on Monday, March 4th were paid a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a yield of 1.92%. The ex-dividend date of this dividend was Friday, March 1st. The Hartford Financial Services Group’s payout ratio is 23.53%.

Insider Buying and Selling

In related news, SVP Allison G. Niderno sold 1,332 shares of The Hartford Financial Services Group stock in a transaction that occurred on Tuesday, February 6th. The shares were sold at an average price of $89.74, for a total transaction of $119,533.68. Following the transaction, the senior vice president now owns 630 shares of the company’s stock, valued at approximately $56,536.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other The Hartford Financial Services Group news, CEO Christopher Swift sold 46,818 shares of The Hartford Financial Services Group stock in a transaction that occurred on Friday, January 19th. The shares were sold at an average price of $84.71, for a total value of $3,965,952.78. Following the transaction, the chief executive officer now owns 170,180 shares of the company’s stock, valued at $14,415,947.80. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Allison G. Niderno sold 1,332 shares of The Hartford Financial Services Group stock in a transaction that occurred on Tuesday, February 6th. The shares were sold at an average price of $89.74, for a total transaction of $119,533.68. Following the completion of the transaction, the senior vice president now directly owns 630 shares in the company, valued at approximately $56,536.20. The disclosure for this sale can be found here. Insiders have sold 249,082 shares of company stock valued at $22,404,321 in the last 90 days. 1.60% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the stock. Royal Bank of Canada increased their target price on shares of The Hartford Financial Services Group from $77.00 to $95.00 and gave the stock a “sector perform” rating in a research report on Monday, February 5th. Citigroup raised their price objective on shares of The Hartford Financial Services Group from $109.00 to $113.00 and gave the company a “buy” rating in a research report on Tuesday. TD Cowen raised their price objective on shares of The Hartford Financial Services Group to $144.00 and gave the company a “buy” rating in a research report on Wednesday, April 3rd. Evercore ISI raised their price objective on shares of The Hartford Financial Services Group from $96.00 to $104.00 and gave the company an “in-line” rating in a research report on Thursday, April 11th. Finally, Roth Mkm raised their price objective on shares of The Hartford Financial Services Group from $80.00 to $90.00 and gave the company a “neutral” rating in a research report on Friday, February 2nd. Seven investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat.com, The Hartford Financial Services Group has an average rating of “Moderate Buy” and an average target price of $105.47.

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.