Desjardins Global Asset Management Inc. Sells 385 Shares of The Hartford Financial Services Group, Inc. (NYSE:HIG)

Desjardins Global Asset Management Inc. lowered its position in The Hartford Financial Services Group, Inc. (NYSE:HIG) by 2.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 16,534 shares of the insurance provider’s stock after selling 385 shares during the period. Desjardins Global Asset Management Inc.’s holdings in The Hartford Financial Services Group were worth $1,329,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also added to or reduced their stakes in HIG. Norges Bank bought a new stake in The Hartford Financial Services Group in the fourth quarter worth about $277,618,000. Moneta Group Investment Advisors LLC bought a new stake in The Hartford Financial Services Group in the fourth quarter worth about $215,742,000. Victory Capital Management Inc. lifted its stake in The Hartford Financial Services Group by 26.7% in the third quarter. Victory Capital Management Inc. now owns 5,142,167 shares of the insurance provider’s stock worth $364,631,000 after purchasing an additional 1,083,420 shares during the last quarter. Schonfeld Strategic Advisors LLC lifted its stake in The Hartford Financial Services Group by 324.6% in the first quarter. Schonfeld Strategic Advisors LLC now owns 938,693 shares of the insurance provider’s stock worth $65,418,000 after purchasing an additional 717,613 shares during the last quarter. Finally, Renaissance Technologies LLC lifted its stake in The Hartford Financial Services Group by 722.9% in the first quarter. Renaissance Technologies LLC now owns 757,100 shares of the insurance provider’s stock worth $54,367,000 after purchasing an additional 665,100 shares during the last quarter. Institutional investors own 93.42% of the company’s stock.

The Hartford Financial Services Group Stock Performance

Shares of HIG stock opened at $97.73 on Wednesday. The business’s fifty day simple moving average is $97.37 and its 200-day simple moving average is $84.90. The company has a market cap of $29.06 billion, a PE ratio of 12.23, a PEG ratio of 1.37 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, Inc. has a 12-month low of $67.05 and a 12-month high of $103.64.

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

The Hartford Financial Services Group Dividend Announcement

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

Insider Transactions at The Hartford Financial Services Group

In other news, CEO Christopher Swift sold 46,818 shares of the company’s stock in a transaction on Friday, January 19th. The stock was sold at an average price of $84.71, for a total transaction of $3,965,952.78. Following the transaction, the chief executive officer now directly 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 the SEC website. In related news, EVP Robert W. Paiano sold 14,528 shares of the company’s stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $93.97, for a total value of $1,365,196.16. Following the transaction, the executive vice president now directly owns 46,792 shares of the company’s stock, valued at approximately $4,397,044.24. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Christopher Swift sold 46,818 shares of the company’s stock in a transaction 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 completion of the transaction, the chief executive officer now directly owns 170,180 shares in the company, valued at $14,415,947.80. The disclosure for this sale can be found here. Over the last three months, insiders have sold 249,082 shares of company stock valued at $22,404,321. Corporate insiders own 1.60% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. Morgan Stanley boosted their price target on The Hartford Financial Services Group from $94.00 to $110.00 and gave the company an “equal weight” rating in a report on Monday. Keefe, Bruyette & Woods boosted their price target on The Hartford Financial Services Group from $114.00 to $120.00 and gave the company an “outperform” rating in a report on Wednesday, April 10th. Royal Bank of Canada boosted their price target on The Hartford Financial Services Group from $77.00 to $95.00 and gave the company a “sector perform” rating in a report on Monday, February 5th. Wells Fargo & Company boosted their price target on The Hartford Financial Services Group from $106.00 to $117.00 and gave the company an “overweight” rating in a report on Thursday, April 11th. Finally, Piper Sandler reiterated an “overweight” rating and issued a $115.00 price target on shares of The Hartford Financial Services Group in a report on Monday, April 1st. Seven equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus 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.