Federated Hermes Inc. Sells 166,649 Shares of The Hartford Financial Services Group, Inc. (NYSE:HIG)

Federated Hermes Inc. lowered its position in shares of The Hartford Financial Services Group, Inc. (NYSE:HIG) by 30.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 373,483 shares of the insurance provider’s stock after selling 166,649 shares during the quarter. Federated Hermes Inc. owned about 0.12% of The Hartford Financial Services Group worth $30,021,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Cambridge Investment Research Advisors Inc. grew its stake in The Hartford Financial Services Group by 7.2% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 17,704 shares of the insurance provider’s stock worth $1,271,000 after purchasing an additional 1,185 shares during the period. D.A. Davidson & CO. grew its position in shares of The Hartford Financial Services Group by 9.1% during the 1st quarter. D.A. Davidson & CO. now owns 3,952 shares of the insurance provider’s stock worth $284,000 after buying an additional 330 shares during the period. Prudential PLC bought a new stake in shares of The Hartford Financial Services Group in the 1st quarter valued at $674,000. Cetera Investment Advisers lifted its position in shares of The Hartford Financial Services Group by 88.6% during the 1st quarter. Cetera Investment Advisers now owns 11,238 shares of the insurance provider’s stock valued at $807,000 after acquiring an additional 5,278 shares during the period. Finally, Zions Bancorporation N.A. boosted its stake in The Hartford Financial Services Group by 235.4% during the first quarter. Zions Bancorporation N.A. now owns 1,070 shares of the insurance provider’s stock worth $77,000 after acquiring an additional 751 shares in the last quarter. 93.42% of the stock is owned by institutional investors.

The Hartford Financial Services Group Price Performance

Shares of NYSE HIG opened at $98.95 on Friday. The company has a quick ratio of 0.32, a current ratio of 0.32 and a debt-to-equity ratio of 0.29. The company has a market capitalization of $29.42 billion, a PE ratio of 12.38, a PEG ratio of 1.40 and a beta of 0.89. The stock’s 50 day moving average price is $97.80 and its 200-day moving average price is $85.36. The Hartford Financial Services Group, Inc. has a twelve month low of $67.05 and a twelve month high of $103.64.

The Hartford Financial Services Group (NYSE:HIG) last announced its quarterly earnings data on Friday, February 2nd. The insurance provider reported $3.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.44 by $0.62. The firm had revenue of $6.40 billion during the quarter, compared to the consensus estimate 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 revenue for the quarter was up 6.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.31 EPS. On average, equities analysts anticipate that The Hartford Financial Services Group, Inc. will post 10.13 EPS for the current year.

The Hartford Financial Services Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 2nd. Investors of record on Monday, March 4th were issued a dividend of $0.47 per share. The ex-dividend date of this dividend was Friday, March 1st. This represents a $1.88 dividend on an annualized basis and a yield of 1.90%. The Hartford Financial Services Group’s dividend payout ratio (DPR) is presently 23.53%.

Analyst Upgrades and Downgrades

HIG has been the subject of several research analyst reports. Morgan Stanley lifted 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 research note on Monday, April 15th. Piper Sandler reaffirmed an “overweight” rating and set a $115.00 price target on shares of The Hartford Financial Services Group in a research note on Monday, April 1st. Evercore ISI raised their price objective on The Hartford Financial Services Group from $96.00 to $104.00 and gave the company an “in-line” rating in a research note on Thursday, April 11th. TD Cowen upped their target price on The Hartford Financial Services Group to $144.00 and gave the stock a “buy” rating in a research report on Wednesday, April 3rd. Finally, The Goldman Sachs Group lifted 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 research report on Friday, April 12th. Seven research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $105.56.

Insiders Place Their Bets

In other news, CEO Christopher Swift sold 956 shares of the stock in a transaction that occurred on 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 transaction, the chief executive officer now directly owns 170,180 shares of the company’s stock, valued at approximately $14,635,480. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CEO Christopher Swift sold 956 shares of the company’s stock in a transaction that occurred on Monday, January 22nd. The stock was sold at an average price of $86.00, for a total value of $82,216.00. Following the transaction, the chief executive officer now owns 170,180 shares in the company, valued at $14,635,480. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP David C. Robinson sold 15,000 shares of the firm’s stock in a transaction on Tuesday, February 6th. The stock was sold at an average price of $89.64, for a total value of $1,344,600.00. Following the completion of the sale, the executive vice president now directly owns 8,201 shares of the company’s stock, valued at $735,137.64. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 202,264 shares of company stock valued at $18,438,369. Company insiders own 1.60% of the company’s stock.

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.