Federated Hermes Inc. Sells 166,649 Shares of The Hartford Financial Services Group, Inc. (NYSE:HIG)

Federated Hermes Inc. decreased its stake in shares of The Hartford Financial Services Group, Inc. (NYSE:HIG) by 30.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 373,483 shares of the insurance provider’s stock after selling 166,649 shares during the period. Federated Hermes Inc.’s holdings in The Hartford Financial Services Group were worth $30,021,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of HIG. GoalVest Advisory LLC grew its holdings in shares of The Hartford Financial Services Group by 464.8% during the 4th quarter. GoalVest Advisory LLC now owns 305 shares of the insurance provider’s stock worth $25,000 after acquiring an additional 251 shares during the period. Turtle Creek Wealth Advisors LLC bought a new stake in shares of The Hartford Financial Services Group during the fourth quarter valued at approximately $26,000. CVA Family Office LLC purchased a new stake in The Hartford Financial Services Group in the fourth quarter worth $27,000. Chilton Capital Management LLC bought a new position in The Hartford Financial Services Group in the fourth quarter worth $28,000. Finally, Selway Asset Management bought a new position in The Hartford Financial Services Group in the third quarter worth $29,000. Hedge funds and other institutional investors own 93.42% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Christopher Swift sold 956 shares of the company’s stock in a transaction dated Monday, January 22nd. The shares were sold at an average price of $86.00, for a total transaction of $82,216.00. Following the completion of the sale, the chief executive officer now owns 170,180 shares of the company’s stock, valued at approximately $14,635,480. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, EVP David C. Robinson sold 15,000 shares of The Hartford Financial Services Group stock in a transaction on Tuesday, February 6th. The stock was sold at an average price of $89.64, for a total transaction of $1,344,600.00. Following the transaction, the executive vice president now directly owns 8,201 shares in the company, valued at $735,137.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Christopher Swift sold 956 shares of the business’s stock in a transaction dated Monday, January 22nd. The shares were sold at an average price of $86.00, for a total value of $82,216.00. Following the sale, the chief executive officer now directly owns 170,180 shares of the company’s stock, valued at approximately $14,635,480. The disclosure for this sale can be found here. Over the last three months, insiders have sold 202,264 shares of company stock valued at $18,438,369. Insiders own 1.60% of the company’s stock.

The Hartford Financial Services Group Stock Up 2.1 %

HIG opened at $98.95 on Friday. The Hartford Financial Services Group, Inc. has a twelve month low of $67.05 and a twelve month high of $103.64. The company has a quick ratio of 0.32, a current ratio of 0.32 and a debt-to-equity ratio of 0.29. The firm has a 50 day moving average price of $97.80 and a 200-day moving average price of $85.36. The stock has a market capitalization of $29.42 billion, a price-to-earnings ratio of 12.38, a PEG ratio of 1.40 and a beta of 0.89.

The Hartford Financial Services Group (NYSE:HIG) last announced its earnings results on Friday, February 2nd. The insurance provider reported $3.06 earnings per share for the quarter, beating analysts’ consensus estimates of $2.44 by $0.62. The business had revenue of $6.40 billion during the quarter, compared to analyst estimates of $5.84 billion. The Hartford Financial Services Group had a net margin of 10.21% and a return on equity of 19.82%. The company’s quarterly revenue was up 6.4% compared to the same quarter last year. During the same period in the previous year, the business earned $2.31 EPS. Equities research analysts forecast that The Hartford Financial Services Group, Inc. will post 10.13 earnings per share for the current year.

The Hartford Financial Services Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 2nd. Shareholders of record on Monday, March 4th were issued a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a yield of 1.90%. The ex-dividend date of this dividend was Friday, March 1st. The Hartford Financial Services Group’s dividend payout ratio is 23.53%.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on HIG. Evercore ISI upped their target price on shares of The Hartford Financial Services Group from $96.00 to $104.00 and gave the stock an “in-line” rating in a research report on Thursday, April 11th. The Goldman Sachs Group upped their price objective on shares of The Hartford Financial Services Group from $92.00 to $105.00 and gave the stock a “buy” rating in a report on Friday, April 12th. Keefe, Bruyette & Woods raised their target price on shares of The Hartford Financial Services Group from $114.00 to $120.00 and gave the company an “outperform” rating in a research note on Wednesday, April 10th. Raymond James reissued an “outperform” rating and issued a $120.00 price target (up from $100.00) on shares of The Hartford Financial Services Group in a research report on Monday, April 1st. Finally, Morgan Stanley upped their price target on The Hartford Financial Services Group from $94.00 to $110.00 and gave the stock an “equal weight” rating in a research note on Monday, April 15th. Seven equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, The Hartford Financial Services Group currently has an average rating of “Moderate Buy” and an average price target of $105.56.

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.