Janus Henderson Group PLC Sells 41,584 Shares of The Hartford Financial Services Group, Inc. (NYSE:HIG)

Janus Henderson Group PLC lowered its stake in The Hartford Financial Services Group, Inc. (NYSE:HIG) by 7.9% during the fourth quarter, Holdings Channel reports. The firm owned 484,269 shares of the insurance provider’s stock after selling 41,584 shares during the period. Janus Henderson Group PLC’s holdings in The Hartford Financial Services Group were worth $52,980,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of HIG. Thurston Springer Miller Herd & Titak Inc. increased its position in shares of The Hartford Financial Services Group by 3,342.9% in the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 241 shares of the insurance provider’s stock worth $26,000 after purchasing an additional 234 shares during the period. Barrett & Company Inc. grew its position in The Hartford Financial Services Group by 46.5% in the fourth quarter. Barrett & Company Inc. now owns 293 shares of the insurance provider’s stock valued at $32,000 after acquiring an additional 93 shares during the last quarter. Itau Unibanco Holding S.A. bought a new position in The Hartford Financial Services Group in the fourth quarter valued at about $35,000. DT Investment Partners LLC grew its position in The Hartford Financial Services Group by 49.8% in the fourth quarter. DT Investment Partners LLC now owns 331 shares of the insurance provider’s stock valued at $36,000 after acquiring an additional 110 shares during the last quarter. Finally, Flagship Wealth Advisors LLC bought a new position in The Hartford Financial Services Group in the fourth quarter valued at about $36,000. Institutional investors own 93.42% of the company’s stock.

Insider Activity

In related news, EVP Robert W. Paiano sold 13,138 shares of the company’s stock in a transaction on Tuesday, March 11th. The stock was sold at an average price of $117.20, for a total transaction of $1,539,773.60. Following the completion of the sale, the executive vice president now owns 31,678 shares in the company, valued at approximately $3,712,661.60. This represents a 29.32% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Christopher Swift sold 98,061 shares of the company’s stock in a transaction on Monday, March 17th. The stock was sold at an average price of $120.39, for a total value of $11,805,563.79. Following the sale, the chief executive officer now owns 211,082 shares of the company’s stock, valued at $25,412,161.98. This trade represents a 31.72% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 113,429 shares of company stock worth $13,618,028 over the last quarter. 1.50% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research firms have issued reports on HIG. StockNews.com cut The Hartford Financial Services Group from a “buy” rating to a “hold” rating in a research report on Monday. Piper Sandler lifted their price target on The Hartford Financial Services Group from $130.00 to $145.00 and gave the company an “overweight” rating in a research note on Tuesday, April 1st. Raymond James lifted their price target on The Hartford Financial Services Group from $125.00 to $135.00 and gave the company an “outperform” rating in a research note on Monday, March 31st. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $125.00 price objective on shares of The Hartford Financial Services Group in a research note on Monday, February 3rd. Finally, Jefferies Financial Group cut their price objective on The Hartford Financial Services Group from $118.00 to $117.00 and set a “hold” rating on the stock in a research note on Friday, April 11th. Eight analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $126.87.

The Hartford Financial Services Group Price Performance

Shares of HIG opened at $127.95 on Wednesday. The Hartford Financial Services Group, Inc. has a 52-week low of $98.16 and a 52-week high of $129.75. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.32 and a current ratio of 0.32. The business’s 50 day moving average price is $119.98 and its two-hundred day moving average price is $115.94. The firm has a market cap of $36.35 billion, a PE ratio of 12.36, a price-to-earnings-growth ratio of 1.12 and a beta of 0.70.

The Hartford Financial Services Group (NYSE:HIG) last released its quarterly earnings data on Thursday, April 24th. The insurance provider reported $2.20 EPS for the quarter, beating the consensus estimate of $2.15 by $0.05. The firm had revenue of $6.81 billion during the quarter, compared to the consensus estimate of $6.97 billion. The Hartford Financial Services Group had a return on equity of 19.55% and a net margin of 11.72%. The company’s quarterly revenue was up 6.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.34 earnings per share. On average, equities analysts anticipate that The Hartford Financial Services Group, Inc. will post 11.11 EPS for the current year.

The Hartford Financial Services Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 2nd. Stockholders of record on Monday, March 3rd were issued a dividend of $0.52 per share. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $2.08 annualized dividend and a dividend yield of 1.63%. The Hartford Financial Services Group’s dividend payout ratio is 20.74%.

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.