American International Group Inc. Cuts Holdings in The Hartford Financial Services Group, Inc. (NYSE:HIG)

American International Group Inc. decreased its position in shares of The Hartford Financial Services Group, Inc. (NYSE:HIGFree Report) by 2.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 78,825 shares of the insurance provider’s stock after selling 2,085 shares during the period. American International Group Inc.’s holdings in The Hartford Financial Services Group were worth $6,336,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. GoalVest Advisory LLC lifted its holdings in shares of The Hartford Financial Services Group by 464.8% in the 4th quarter. GoalVest Advisory LLC now owns 305 shares of the insurance provider’s stock valued at $25,000 after acquiring an additional 251 shares during the last quarter. Turtle Creek Wealth Advisors LLC bought a new position in shares of The Hartford Financial Services Group in the 4th quarter valued at about $26,000. CVA Family Office LLC bought a new position in shares of The Hartford Financial Services Group in the 4th quarter valued at about $27,000. Chilton Capital Management LLC bought a new position in shares of The Hartford Financial Services Group in the 4th quarter valued at about $28,000. Finally, Cape Investment Advisory Inc. lifted its holdings in shares of The Hartford Financial Services Group by 189.9% in the 4th quarter. Cape Investment Advisory Inc. now owns 374 shares of the insurance provider’s stock valued at $30,000 after acquiring an additional 245 shares during the last quarter. Hedge funds and other institutional investors own 93.42% of the company’s stock.

Insiders Place Their Bets

In other The Hartford Financial Services Group news, EVP Jonathan R. Bennett sold 18,335 shares of The Hartford Financial Services Group 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 transaction, the executive vice president now directly owns 25,643 shares of the company’s stock, valued at $2,584,301.54. The transaction was disclosed in a filing with the Securities & Exchange Commission, 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 Hartford Financial Services Group 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 transaction, the executive vice president now directly owns 25,643 shares of the company’s stock, valued at $2,584,301.54. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Michael R. Fisher sold 27,004 shares of The Hartford Financial Services Group 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 sale, the executive vice president now owns 18,906 shares of the company’s stock, valued at $1,869,803.40. The disclosure for this sale can be found here. Over the last three months, insiders have sold 117,415 shares of company stock valued at $11,705,195. 1.60% of the stock is currently owned by insiders.

The Hartford Financial Services Group Stock Performance

Shares of HIG stock opened at $100.87 on Tuesday. The firm has a market cap of $29.83 billion, a price-to-earnings ratio of 11.46, a PEG ratio of 0.83 and a beta of 0.93. The company’s 50 day moving average is $100.00 and its 200 day moving average is $92.34. 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, Inc. has a 52-week low of $68.82 and a 52-week high of $103.64.

The Hartford Financial Services Group (NYSE:HIGGet Free Report) last issued its quarterly earnings data 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 for the quarter, compared to analysts’ expectations of $6.51 billion. During the same period in the previous year, the business earned $1.68 earnings per share. The business’s quarterly revenue was up 8.6% compared to the same quarter last year. On average, sell-side analysts anticipate that The Hartford Financial Services Group, Inc. will post 9.94 EPS for the current fiscal year.

The Hartford Financial Services Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 2nd. Shareholders of record on Monday, June 3rd will be issued a $0.47 dividend. This represents a $1.88 annualized dividend and a yield of 1.86%. The ex-dividend date of this dividend is Monday, June 3rd. The Hartford Financial Services Group’s dividend payout ratio is currently 21.36%.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the stock. TD Cowen increased their price target on shares of The Hartford Financial Services Group to $144.00 and gave the company a “buy” rating in a report on Wednesday, April 3rd. Raymond James reissued an “outperform” rating and issued a $120.00 price objective (up previously from $100.00) on shares of The Hartford Financial Services Group in a research note on Monday, April 1st. Piper Sandler reissued an “overweight” rating and issued a $115.00 price objective on shares of The Hartford Financial Services Group in a research note on Monday, April 1st. Argus raised their price objective on shares of The Hartford Financial Services Group from $104.00 to $110.00 and gave the stock a “buy” rating in a research note on Wednesday, May 15th. Finally, The Goldman Sachs Group raised 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 research note on Friday, April 12th. Eight equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, The Hartford Financial Services Group has an average rating of “Moderate Buy” and an average price target of $105.88.

Check Out Our Latest Stock Report 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.

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

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