Carret Asset Management LLC Decreases Stake in The Hartford Financial Services Group, Inc. (NYSE:HIG)

Carret Asset Management LLC reduced its stake in The Hartford Financial Services Group, Inc. (NYSE:HIG) by 0.7% during the fourth quarter, Holdings Channel.com reports. The firm owned 66,624 shares of the insurance provider’s stock after selling 485 shares during the period. Carret Asset Management LLC’s holdings in The Hartford Financial Services Group were worth $5,355,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of the stock. GAMMA Investing LLC purchased a new position in The Hartford Financial Services Group in the 4th quarter worth approximately $477,000. Illinois Municipal Retirement Fund increased its stake in The Hartford Financial Services Group by 12.8% in the 4th quarter. Illinois Municipal Retirement Fund now owns 180,374 shares of the insurance provider’s stock worth $14,498,000 after purchasing an additional 20,462 shares during the period. Foster & Motley Inc. grew its position in shares of The Hartford Financial Services Group by 6.6% in the 4th quarter. Foster & Motley Inc. now owns 104,690 shares of the insurance provider’s stock worth $8,415,000 after buying an additional 6,476 shares during the last quarter. MCF Advisors LLC grew its position in shares of The Hartford Financial Services Group by 20.6% in the 4th quarter. MCF Advisors LLC now owns 3,280 shares of the insurance provider’s stock worth $265,000 after buying an additional 561 shares during the last quarter. Finally, Commerzbank Aktiengesellschaft FI bought a new stake in shares of The Hartford Financial Services Group in the 4th quarter worth approximately $227,000. 93.42% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at The Hartford Financial Services Group

In related news, EVP David C. Robinson sold 15,000 shares of the stock in a transaction that occurred on Tuesday, February 6th. The stock was sold at an average price of $89.64, for a total transaction of $1,344,600.00. Following the completion of the transaction, the executive vice president now directly owns 8,201 shares of the company’s stock, valued at $735,137.64. The sale was disclosed in a filing with the SEC, which is available through this link. In related news, EVP David C. Robinson sold 15,000 shares of the stock in a transaction that occurred on Tuesday, February 6th. The stock was sold at an average price of $89.64, for a total transaction of $1,344,600.00. Following the completion of the transaction, the executive vice president now directly owns 8,201 shares of the company’s stock, valued at $735,137.64. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP Michael R. Fisher sold 27,004 shares of the company’s stock in a transaction that occurred on Wednesday, March 13th. The shares were sold at an average price of $98.90, for a total value of $2,670,695.60. Following the sale, the executive vice president now owns 18,906 shares in the company, valued at $1,869,803.40. The disclosure for this sale can be found here. Over the last three months, insiders sold 106,501 shares of company stock valued at $10,141,126. Insiders own 1.60% of the company’s stock.

The Hartford Financial Services Group Price Performance

Shares of NYSE HIG traded down $0.17 during mid-day trading on Wednesday, reaching $99.86. The company’s stock had a trading volume of 1,871,304 shares, compared to its average volume of 1,797,402. The firm has a market capitalization of $29.69 billion, a PE ratio of 12.50, a P/E/G ratio of 1.41 and a beta of 0.89. The company has a debt-to-equity ratio of 0.29, a current ratio of 0.32 and a quick ratio of 0.32. The stock has a fifty day moving average of $98.16 and a two-hundred day moving average of $85.88. The Hartford Financial Services Group, Inc. has a 52 week low of $67.05 and a 52 week high of $103.64.

The Hartford Financial Services Group (NYSE:HIG) last released its quarterly earnings data on Friday, February 2nd. The insurance provider reported $3.06 earnings per share for the quarter, topping analysts’ consensus estimates of $2.44 by $0.62. The firm had revenue of $6.40 billion during the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.31 earnings per share. As a group, sell-side analysts anticipate that The Hartford Financial Services Group, Inc. will post 10.13 EPS for the current fiscal year.

The Hartford Financial Services Group Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. TD Cowen lifted their price objective on The Hartford Financial Services Group to $144.00 and gave the stock a “buy” rating in a research report on Wednesday, April 3rd. The Goldman Sachs Group lifted their price objective on The Hartford Financial Services Group from $92.00 to $105.00 and gave the stock a “buy” rating in a research report on Friday, April 12th. Raymond James reiterated an “outperform” rating and issued a $120.00 price objective (up from $100.00) on shares of The Hartford Financial Services Group in a research report on Monday, April 1st. Piper Sandler restated an “overweight” rating and set a $115.00 price target on shares of The Hartford Financial Services Group in a research report on Monday, April 1st. Finally, Roth Mkm lifted their price target on The Hartford Financial Services Group from $80.00 to $90.00 and gave the company a “neutral” rating in a research report on Friday, February 2nd. Seven analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $105.56.

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.