Russell Investments Group Ltd. Sells 40,771 Shares of The Hartford Financial Services Group, Inc. (NYSE:HIG)

Russell Investments Group Ltd. lessened its stake in shares of The Hartford Financial Services Group, Inc. (NYSE:HIG) by 7.5% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 499,521 shares of the insurance provider’s stock after selling 40,771 shares during the period. Russell Investments Group Ltd. owned about 0.16% of The Hartford Financial Services Group worth $35,951,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also bought and sold shares of HIG. Raleigh Capital Management Inc. raised its stake in The Hartford Financial Services Group by 72.4% in the first quarter. Raleigh Capital Management Inc. now owns 362 shares of the insurance provider’s stock valued at $25,000 after buying an additional 152 shares during the period. Jones Financial Companies Lllp raised its stake in The Hartford Financial Services Group by 120.6% in the first quarter. Jones Financial Companies Lllp now owns 375 shares of the insurance provider’s stock valued at $26,000 after buying an additional 205 shares during the period. Quarry LP bought a new stake in The Hartford Financial Services Group in the first quarter valued at approximately $31,000. Massmutual Trust Co. FSB ADV raised its stake in The Hartford Financial Services Group by 63.6% in the second quarter. Massmutual Trust Co. FSB ADV now owns 525 shares of the insurance provider’s stock valued at $38,000 after buying an additional 204 shares during the period. Finally, TCI Wealth Advisors Inc. raised its stake in The Hartford Financial Services Group by 41.3% in the first quarter. TCI Wealth Advisors Inc. now owns 616 shares of the insurance provider’s stock valued at $43,000 after buying an additional 180 shares during the period. Institutional investors own 90.81% of the company’s stock.

The Hartford Financial Services Group Stock Up 0.2 %

Shares of HIG opened at $76.54 on Friday. The Hartford Financial Services Group, Inc. has a 52 week low of $64.25 and a 52 week high of $79.44. The stock has a market capitalization of $23.02 billion, a price-to-earnings ratio of 10.50, a PEG ratio of 1.32 and a beta of 0.82. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.31 and a current ratio of 0.31. The stock has a fifty day moving average of $72.46 and a 200-day moving average of $71.86.

The Hartford Financial Services Group (NYSE:HIG) last announced its earnings results on Thursday, October 26th. The insurance provider reported $2.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.95 by $0.34. The business had revenue of $6.17 billion during the quarter, compared to analyst estimates of $6.17 billion. The Hartford Financial Services Group had a return on equity of 19.05% and a net margin of 9.62%. The Hartford Financial Services Group’s revenue for the quarter was up 10.5% compared to the same quarter last year. During the same period last year, the company earned $1.44 EPS. As a group, sell-side analysts anticipate that The Hartford Financial Services Group, Inc. will post 8.16 earnings per share for the current fiscal year.

The Hartford Financial Services Group Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 3rd. Investors of record on Friday, December 1st will be given a dividend of $0.47 per share. This is a positive change from The Hartford Financial Services Group’s previous quarterly dividend of $0.43. This represents a $1.88 annualized dividend and a yield of 2.46%. The ex-dividend date of this dividend is Thursday, November 30th. The Hartford Financial Services Group’s dividend payout ratio (DPR) is currently 23.32%.

Insider Buying and Selling

In related news, EVP Stephanie C. Bush sold 5,000 shares of the firm’s stock in a transaction on Tuesday, October 31st. The stock was sold at an average price of $72.74, for a total transaction of $363,700.00. Following the completion of the transaction, the executive vice president now directly owns 10,063 shares of the company’s stock, valued at approximately $731,982.62. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders sold a total of 6,003 shares of company stock valued at $436,159 in the last three months. Insiders own 1.80% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on HIG shares. Citigroup dropped their price objective on The Hartford Financial Services Group from $87.00 to $85.00 and set a “buy” rating on the stock in a research note on Wednesday, August 9th. Barclays decreased their target price on The Hartford Financial Services Group from $87.00 to $83.00 in a research report on Friday, July 28th. Oppenheimer started coverage on The Hartford Financial Services Group in a research report on Thursday. They issued a “market perform” rating on the stock. Wells Fargo & Company decreased their target price on The Hartford Financial Services Group from $89.00 to $85.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 17th. Finally, Piper Sandler upped their target price on The Hartford Financial Services Group from $93.00 to $97.00 and gave the company an “overweight” rating in a research report on Monday, October 30th. Seven equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $85.43.

The Hartford Financial Services Group Profile

The Hartford Financial Services Group, Inc 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, and reinsurance through regional offices, branches, sales and policyholder service centers, independent retail agents and brokers, wholesale agents, and reinsurance brokers.