Cohen Klingenstein LLC Has $13.38 Million Stock Position in The Hartford Financial Services Group, Inc. (NYSE:HIG)

Cohen Klingenstein LLC reduced its position in shares of The Hartford Financial Services Group, Inc. (NYSE:HIG) by 0.6% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 108,133 shares of the insurance provider’s stock after selling 650 shares during the period. The Hartford Financial Services Group comprises about 0.5% of Cohen Klingenstein LLC’s investment portfolio, making the stock its 29th biggest position. Cohen Klingenstein LLC’s holdings in The Hartford Financial Services Group were worth $13,379,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Geode Capital Management LLC raised its stake in shares of The Hartford Financial Services Group by 1.1% in the 4th quarter. Geode Capital Management LLC now owns 7,251,389 shares of the insurance provider’s stock valued at $792,796,000 after purchasing an additional 81,495 shares during the period. Victory Capital Management Inc. boosted its position in The Hartford Financial Services Group by 4.5% during the fourth quarter. Victory Capital Management Inc. now owns 4,701,675 shares of the insurance provider’s stock worth $514,363,000 after purchasing an additional 202,487 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of The Hartford Financial Services Group by 6.5% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,830,462 shares of the insurance provider’s stock valued at $419,053,000 after purchasing an additional 234,320 shares during the last quarter. Norges Bank acquired a new stake in shares of The Hartford Financial Services Group during the fourth quarter worth $416,340,000. Finally, Northern Trust Corp increased its holdings in shares of The Hartford Financial Services Group by 17.2% during the fourth quarter. Northern Trust Corp now owns 3,537,665 shares of the insurance provider’s stock worth $387,021,000 after purchasing an additional 519,717 shares during the period. 93.42% of the stock is currently owned by institutional investors.

The Hartford Financial Services Group Trading Down 1.6%

Shares of The Hartford Financial Services Group stock opened at $124.82 on Wednesday. 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 company has a fifty day moving average of $123.47 and a 200 day moving average of $117.82. The company has a market capitalization of $35.46 billion, a P/E ratio of 12.06, a P/E/G ratio of 1.12 and a beta of 0.71. The Hartford Financial Services Group, Inc. has a fifty-two week low of $98.16 and a fifty-two week high of $132.09.

The Hartford Financial Services Group (NYSE:HIG) last posted its quarterly earnings results on Thursday, April 24th. The insurance provider reported $2.20 EPS for the quarter, topping analysts’ consensus estimates of $2.15 by $0.05. The company had revenue of $6.81 billion for the quarter, compared to analysts’ expectations 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 revenue was up 6.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.34 EPS. On average, sell-side 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 company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 2nd. Stockholders of record on Monday, June 2nd will be issued a dividend of $0.52 per share. The ex-dividend date is Monday, June 2nd. This represents a $2.08 annualized dividend and a dividend yield of 1.67%. The Hartford Financial Services Group’s dividend payout ratio (DPR) is 20.74%.

Analyst Ratings Changes

Several equities research analysts recently weighed in on HIG shares. Piper Sandler raised their price objective on The Hartford Financial Services Group from $130.00 to $145.00 and gave the company an “overweight” rating in a report on Tuesday, April 1st. Keefe, Bruyette & Woods dropped their price objective on shares of The Hartford Financial Services Group from $140.00 to $133.00 and set an “outperform” rating on the stock in a report on Wednesday, April 9th. 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 on the stock in a report on Thursday, April 10th. Wall Street Zen raised The Hartford Financial Services Group from a “hold” rating to a “buy” rating in a research report on Tuesday, May 20th. Finally, JPMorgan Chase & Co. increased their price objective on shares of The Hartford Financial Services Group from $125.00 to $129.00 and gave the company a “neutral” rating in a research note on Tuesday, April 8th. Seven research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $129.71.

Insider Activity

In other news, 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 completion of the sale, the chief executive officer now directly owns 211,082 shares of the company’s stock, valued at $26,385,250. This trade represents a 0.54% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Allison G. Niderno sold 1,086 shares of the stock in a transaction on Monday, April 28th. The shares were sold at an average price of $119.42, for a total value of $129,690.12. Following the sale, the senior vice president now owns 622 shares in the company, valued at $74,279.24. The trade was a 63.58% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 100,291 shares of company stock worth $12,078,254. 1.50% of the stock is currently owned by insiders.

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.