Allspring Global Investments Holdings LLC Cuts Stock Position in The Hartford Financial Services Group, Inc. (NYSE:HIG)

Allspring Global Investments Holdings LLC lessened its holdings in The Hartford Financial Services Group, Inc. (NYSE:HIG) by 9.1% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 116,042 shares of the insurance provider’s stock after selling 11,648 shares during the period. Allspring Global Investments Holdings LLC’s holdings in The Hartford Financial Services Group were worth $9,327,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. McGlone Suttner Wealth Management Inc. raised its stake in shares of The Hartford Financial Services Group by 11.7% in the 4th quarter. McGlone Suttner Wealth Management Inc. now owns 3,165 shares of the insurance provider’s stock valued at $254,000 after acquiring an additional 331 shares during the period. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH acquired a new stake in The Hartford Financial Services Group during the 4th quarter valued at $2,875,000. New Millennium Group LLC acquired a new stake in The Hartford Financial Services Group during the 4th quarter valued at $1,552,000. SteelPeak Wealth LLC acquired a new stake in The Hartford Financial Services Group during the 4th quarter valued at $1,691,000. Finally, Teza Capital Management LLC acquired a new stake in The Hartford Financial Services Group during the 3rd quarter valued at $2,087,000. Hedge funds and other institutional investors own 93.42% of the company’s stock.

Analyst Ratings Changes

HIG has been the subject of a number of recent analyst reports. The Goldman Sachs Group raised their price target on shares of The Hartford Financial Services Group from $92.00 to $105.00 and gave the company a “buy” rating in a report on Friday, April 12th. Morgan Stanley raised their price target on shares of The Hartford Financial Services Group from $94.00 to $110.00 and gave the company an “equal weight” rating in a report on Monday. TD Cowen raised their price target on shares of The Hartford Financial Services Group to $144.00 and gave the company a “buy” rating in a report on Wednesday, April 3rd. Raymond James reissued an “outperform” rating and set a $120.00 price objective (up from $100.00) on shares of The Hartford Financial Services Group in a report on Monday, April 1st. Finally, UBS Group raised their price objective on shares of The Hartford Financial Services Group from $100.00 to $107.00 and gave the stock a “buy” rating in a report on Monday, February 5th. Seven equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, The Hartford Financial Services Group has a consensus rating of “Moderate Buy” and a consensus target price of $105.47.

Insider Activity at The Hartford Financial Services Group

In related news, CEO Christopher Swift sold 956 shares of The Hartford Financial Services Group stock in a transaction dated Monday, January 22nd. The shares were sold at an average price of $86.00, for a total value of $82,216.00. Following the sale, the chief executive officer now directly owns 170,180 shares in the company, valued at approximately $14,635,480. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, CFO Beth Ann Costello sold 38,915 shares of The Hartford Financial Services Group stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $95.42, for a total value of $3,713,269.30. Following the sale, the chief financial officer now directly owns 69,169 shares in the company, valued at approximately $6,600,105.98. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Christopher Swift sold 956 shares of The Hartford Financial Services Group stock in a transaction dated Monday, January 22nd. The shares were sold at an average price of $86.00, for a total transaction of $82,216.00. Following the completion of the sale, the chief executive officer now owns 170,180 shares in the company, valued at $14,635,480. The disclosure for this sale can be found here. Insiders have sold a total of 249,082 shares of company stock worth $22,404,321 in the last ninety days. 1.60% of the stock is owned by insiders.

The Hartford Financial Services Group Trading Up 0.4 %

NYSE HIG opened at $97.73 on Wednesday. The Hartford Financial Services Group, Inc. has a one year low of $67.05 and a one year high of $103.64. The company has a 50-day simple moving average of $97.37 and a 200-day simple moving average of $84.90. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.32 and a current ratio of 0.32. The firm has a market capitalization of $29.06 billion, a PE ratio of 12.23, a price-to-earnings-growth ratio of 1.38 and a beta of 0.89.

The Hartford Financial Services Group (NYSE:HIG) last posted its quarterly earnings results on Friday, February 2nd. The insurance provider reported $3.06 EPS for the quarter, beating the consensus estimate of $2.44 by $0.62. The Hartford Financial Services Group had a net margin of 10.21% and a return on equity of 19.82%. The business had revenue of $6.40 billion during the quarter, compared to analyst estimates of $5.84 billion. During the same period in the previous year, the business posted $2.31 EPS. The company’s quarterly revenue was up 6.4% on a year-over-year basis. On average, equities analysts forecast that The Hartford Financial Services Group, Inc. will post 10.12 earnings per share for the current year.

The Hartford Financial Services Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 2nd. Stockholders of record on Monday, March 4th were issued a $0.47 dividend. This represents a $1.88 annualized dividend and a dividend yield of 1.92%. The ex-dividend date of this dividend was Friday, March 1st. The Hartford Financial Services Group’s dividend payout ratio (DPR) is presently 23.53%.

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.