California State Teachers Retirement System Sells 829 Shares of The Hartford Financial Services Group, Inc. (NYSE:HIG)

California State Teachers Retirement System cut its holdings in shares of The Hartford Financial Services Group, Inc. (NYSE:HIGFree Report) by 0.2% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 484,242 shares of the insurance provider’s stock after selling 829 shares during the quarter. California State Teachers Retirement System owned 0.16% of The Hartford Financial Services Group worth $38,923,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in HIG. Norges Bank acquired a new stake in shares of The Hartford Financial Services Group during the 4th quarter worth approximately $278,704,000. Qube Research & Technologies Ltd boosted its position in The Hartford Financial Services Group by 144.3% in the third quarter. Qube Research & Technologies Ltd now owns 926,033 shares of the insurance provider’s stock valued at $65,665,000 after buying an additional 546,969 shares in the last quarter. Nordea Investment Management AB boosted its position in The Hartford Financial Services Group by 20.2% in the fourth quarter. Nordea Investment Management AB now owns 2,958,172 shares of the insurance provider’s stock valued at $237,600,000 after buying an additional 497,916 shares in the last quarter. Bank of Nova Scotia boosted its position in The Hartford Financial Services Group by 793.3% in the fourth quarter. Bank of Nova Scotia now owns 325,412 shares of the insurance provider’s stock valued at $26,156,000 after buying an additional 288,984 shares in the last quarter. Finally, AQR Capital Management LLC boosted its position in The Hartford Financial Services Group by 23.6% in the third quarter. AQR Capital Management LLC now owns 1,179,682 shares of the insurance provider’s stock valued at $83,651,000 after buying an additional 224,979 shares in the last quarter. Institutional investors and hedge funds own 93.42% of the company’s stock.

Analyst Ratings Changes

HIG has been the topic of a number of recent research reports. Wells Fargo & Company cut their price target on shares of The Hartford Financial Services Group from $117.00 to $111.00 and set an “overweight” rating on the stock in a report on Monday, April 29th. The Goldman Sachs Group lifted their target price on shares of The Hartford Financial Services Group from $92.00 to $105.00 and gave the stock a “buy” rating in a research note on Friday, April 12th. TD Cowen lifted their target price on shares of The Hartford Financial Services Group to $144.00 and gave the stock a “buy” rating in a research note on Wednesday, April 3rd. Piper Sandler reissued an “overweight” rating and set a $115.00 target price on shares of The Hartford Financial Services Group in a research note on Monday, April 1st. Finally, JPMorgan Chase & Co. lifted their price target on shares of The Hartford Financial Services Group from $91.00 to $104.00 and gave the company a “neutral” rating in a research note on Monday, April 8th. Eight investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $105.88.

Get Our Latest Research Report on The Hartford Financial Services Group

Insider Activity

In related news, CFO Beth Ann Costello sold 72,076 shares of the stock in a transaction on Wednesday, May 8th. The shares were sold at an average price of $99.71, for a total transaction of $7,186,697.96. Following the transaction, the chief financial officer now owns 69,169 shares of the company’s stock, valued at approximately $6,896,840.99. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other The Hartford Financial Services Group news, EVP Jonathan R. Bennett sold 18,335 shares of the firm’s stock in a transaction on Thursday, May 9th. The shares were sold at an average price of $100.78, for a total value of $1,847,801.30. Following the sale, the executive vice president now owns 25,643 shares of the company’s stock, valued at approximately $2,584,301.54. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Beth Ann Costello sold 72,076 shares of the firm’s stock in a transaction on Wednesday, May 8th. The stock was sold at an average price of $99.71, for a total transaction of $7,186,697.96. Following the completion of the sale, the chief financial officer now directly owns 69,169 shares in the company, valued at approximately $6,896,840.99. The disclosure for this sale can be found here. In the last quarter, insiders have sold 117,415 shares of company stock worth $11,705,195. 1.60% of the stock is currently owned by corporate insiders.

The Hartford Financial Services Group Stock Down 1.0 %

HIG opened at $100.58 on Wednesday. The company has a quick ratio of 0.31, a current ratio of 0.31 and a debt-to-equity ratio of 0.29. The stock has a market cap of $29.75 billion, a price-to-earnings ratio of 11.43, a PEG ratio of 0.84 and a beta of 0.93. The Hartford Financial Services Group, Inc. has a twelve month low of $68.82 and a twelve month high of $103.64. The company’s 50-day moving average price is $100.19 and its two-hundred day moving average price is $91.68.

The Hartford Financial Services Group (NYSE:HIGGet Free Report) last posted its quarterly earnings results on Thursday, April 25th. The insurance provider reported $2.34 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.43 by ($0.09). The Hartford Financial Services Group had a net margin of 10.87% and a return on equity of 20.64%. The business had revenue of $6.42 billion during the quarter, compared to the consensus estimate of $6.51 billion. During the same period last year, the firm earned $1.68 EPS. The business’s revenue for the quarter was up 8.6% on a year-over-year basis. As a group, equities analysts expect that The Hartford Financial Services Group, Inc. will post 9.94 earnings per share for the current year.

The Hartford Financial Services Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 2nd. Shareholders of record on Monday, June 3rd will be paid a $0.47 dividend. This represents a $1.88 annualized dividend and a yield of 1.87%. The ex-dividend date is Monday, June 3rd. The Hartford Financial Services Group’s dividend payout ratio is presently 21.36%.

The Hartford Financial Services Group Profile

(Free Report)

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.

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Institutional Ownership by Quarter for The Hartford Financial Services Group (NYSE:HIG)

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