Benson Investment Management Company Inc. Trims Stock Position in The Hartford Financial Services Group, Inc. (NYSE:HIG)

Benson Investment Management Company Inc. trimmed its position in The Hartford Financial Services Group, Inc. (NYSE:HIG) by 1.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 45,464 shares of the insurance provider’s stock after selling 860 shares during the quarter. The Hartford Financial Services Group comprises 2.5% of Benson Investment Management Company Inc.’s investment portfolio, making the stock its 12th biggest position. Benson Investment Management Company Inc.’s holdings in The Hartford Financial Services Group were worth $5,638,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Barrett & Company Inc. increased its position in shares of The Hartford Financial Services Group by 46.5% during the 4th quarter. Barrett & Company Inc. now owns 293 shares of the insurance provider’s stock worth $32,000 after purchasing an additional 93 shares during the last quarter. Spurstone Advisory Services LLC acquired a new position in The Hartford Financial Services Group in the fourth quarter valued at about $33,000. Itau Unibanco Holding S.A. purchased a new position in The Hartford Financial Services Group during the fourth quarter worth about $35,000. DT Investment Partners LLC increased its position in shares of The Hartford Financial Services Group by 49.8% during 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 purchased a new stake in shares of The Hartford Financial Services Group in the 4th quarter valued at approximately $36,000. Hedge funds and other institutional investors own 93.42% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. Wells Fargo & Company lowered their price objective on shares of The Hartford Financial Services Group from $126.00 to $125.00 and set an “overweight” rating for the company in a research report on Thursday, April 10th. Barclays raised their price target on The Hartford Financial Services Group from $140.00 to $145.00 and gave the stock an “overweight” rating in a research report on Friday, April 25th. 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 report on Friday, April 11th. JPMorgan Chase & Co. increased their target price on The Hartford Financial Services Group from $125.00 to $129.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 8th. Finally, Piper Sandler lifted their target price on The Hartford Financial Services Group from $130.00 to $145.00 and gave the company an “overweight” rating in a research report on Tuesday, April 1st. Seven investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $129.71.

Insider Activity at The Hartford Financial Services Group

In related news, SVP Allison G. Niderno sold 1,086 shares of the company’s stock in a transaction dated Monday, April 28th. The stock was sold at an average price of $119.42, for a total value of $129,690.12. Following the completion of the sale, the senior vice president now directly owns 622 shares of the company’s stock, valued at $74,279.24. This represents a 63.58% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Christopher Swift sold 1,144 shares of the firm’s stock in a transaction that occurred on Wednesday, April 2nd. The stock was sold at an average price of $125.00, for a total value of $143,000.00. Following the transaction, the chief executive officer now owns 211,082 shares in the company, valued at $26,385,250. This represents a 0.54% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 113,429 shares of company stock valued at $13,618,028 in the last ninety days. Insiders own 1.50% of the company’s stock.

The Hartford Financial Services Group Trading Up 0.2%

NYSE:HIG opened at $130.12 on Wednesday. The Hartford Financial Services Group, Inc. has a 1 year low of $98.16 and a 1 year high of $132.09. The stock has a market cap of $36.97 billion, a P/E ratio of 12.57, a P/E/G ratio of 1.12 and a beta of 0.70. 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 stock has a 50-day simple moving average of $123.10 and a 200-day simple moving average of $117.52.

The Hartford Financial Services Group (NYSE:HIG) last announced its quarterly earnings results on Thursday, April 24th. The insurance provider reported $2.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 firm’s quarterly revenue was up 6.1% compared to the same quarter last year. During the same period in the prior year, the company posted $2.34 earnings per share. As a group, analysts anticipate that The Hartford Financial Services Group, Inc. will post 11.11 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 Wednesday, July 2nd. Stockholders of record on Monday, June 2nd will be issued a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 1.60%. The ex-dividend date of this dividend is Monday, June 2nd. The Hartford Financial Services Group’s payout ratio is 20.74%.

The Hartford Financial Services Group 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.