The Hartford Financial Services Group, Inc. (NYSE:HIG) Stock Holdings Increased by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company grew its position in shares of The Hartford Financial Services Group, Inc. (NYSE:HIGFree Report) by 7.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 371,016 shares of the insurance provider’s stock after buying an additional 27,023 shares during the period. The Manufacturers Life Insurance Company owned about 0.12% of The Hartford Financial Services Group worth $29,822,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Norges Bank acquired a new stake in The Hartford Financial Services Group during the fourth quarter worth about $278,704,000. Qube Research & Technologies Ltd boosted its position in The Hartford Financial Services Group by 144.3% during the 3rd quarter. Qube Research & Technologies Ltd now owns 926,033 shares of the insurance provider’s stock valued at $65,665,000 after purchasing an additional 546,969 shares during the period. Nordea Investment Management AB grew its stake in The Hartford Financial Services Group by 20.2% during the 4th quarter. Nordea Investment Management AB now owns 2,958,172 shares of the insurance provider’s stock worth $237,600,000 after buying an additional 497,916 shares during the last quarter. KBC Group NV lifted its stake in The Hartford Financial Services Group by 85.5% in the fourth quarter. KBC Group NV now owns 1,074,470 shares of the insurance provider’s stock valued at $86,366,000 after buying an additional 495,192 shares during the last quarter. Finally, Bank of Nova Scotia boosted its holdings in shares of The Hartford Financial Services Group by 793.3% during the fourth quarter. Bank of Nova Scotia now owns 325,412 shares of the insurance provider’s stock valued at $26,156,000 after acquiring an additional 288,984 shares during the period. Institutional investors and hedge funds own 93.42% of the company’s stock.

The Hartford Financial Services Group Price Performance

Shares of NYSE:HIG opened at $100.85 on Friday. The company’s fifty day moving average is $100.03 and its two-hundred day moving average is $91.97. The company has a market cap of $29.83 billion, a P/E ratio of 11.46, a price-to-earnings-growth ratio of 0.83 and a beta of 0.93. The Hartford Financial Services Group, Inc. has a 12-month low of $68.82 and a 12-month high of $103.64. 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 Hartford Financial Services Group (NYSE:HIGGet Free Report) last released its earnings results on Thursday, April 25th. The insurance provider reported $2.34 earnings per share for the quarter, missing the consensus estimate of $2.43 by ($0.09). The business had revenue of $6.42 billion for the quarter, compared to analysts’ expectations of $6.51 billion. The Hartford Financial Services Group had a net margin of 10.87% and a return on equity of 20.64%. The company’s revenue was up 8.6% compared to the same quarter last year. During the same period last year, the firm earned $1.68 EPS. Equities analysts expect that The Hartford Financial Services Group, Inc. will post 9.94 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 Tuesday, July 2nd. Shareholders of record on Monday, June 3rd will be given a $0.47 dividend. The ex-dividend date of this dividend is Monday, June 3rd. This represents a $1.88 dividend on an annualized basis and a yield of 1.86%. The Hartford Financial Services Group’s payout ratio is 21.36%.

Insider Buying and Selling at The Hartford Financial Services Group

In other The Hartford Financial Services Group news, EVP Michael R. Fisher sold 27,004 shares of the business’s stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $98.90, for a total value of $2,670,695.60. Following the transaction, the executive vice president now owns 18,906 shares in the company, valued at $1,869,803.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, EVP Jonathan R. Bennett sold 18,335 shares of the company’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 completion of the sale, the executive vice president now directly owns 25,643 shares in the company, valued at $2,584,301.54. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Michael R. Fisher sold 27,004 shares of the stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $98.90, for a total transaction of $2,670,695.60. Following the transaction, the executive vice president now directly owns 18,906 shares in the company, valued at $1,869,803.40. The disclosure for this sale can be found here. Insiders sold 117,415 shares of company stock valued at $11,705,195 in the last quarter. Company insiders own 1.60% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently weighed in on HIG shares. Morgan Stanley cut their price objective on shares of The Hartford Financial Services Group from $110.00 to $109.00 and set an “equal weight” rating on the stock in a research report on Friday, April 26th. Piper Sandler reissued an “overweight” rating and issued a $115.00 price target on shares of The Hartford Financial Services Group in a research note on Monday, April 1st. The Goldman Sachs Group lifted their price objective on shares of The Hartford Financial Services Group from $92.00 to $105.00 and gave the company a “buy” rating in a research note on Friday, April 12th. TD Cowen increased their target price 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. Finally, Citigroup boosted their price target on shares of The Hartford Financial Services Group from $113.00 to $116.00 and gave the stock a “neutral” rating in a research report on Monday, May 13th. Eight equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, The Hartford Financial Services Group currently has an average rating of “Moderate Buy” and an average price target of $105.88.

Read Our Latest Analysis on The Hartford Financial Services Group

The Hartford Financial Services Group Company 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.

Further Reading

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

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