New York State Common Retirement Fund Has $24.27 Million Stake in The Hartford Financial Services Group, Inc. (NYSE:HIG)

New York State Common Retirement Fund trimmed its holdings in The Hartford Financial Services Group, Inc. (NYSE:HIG) by 15.0% in the fourth quarter, Holdings Channel reports. The fund owned 301,969 shares of the insurance provider’s stock after selling 53,345 shares during the period. New York State Common Retirement Fund’s holdings in The Hartford Financial Services Group were worth $24,272,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. McGlone Suttner Wealth Management Inc. grew its stake in The Hartford Financial Services Group by 11.7% in the fourth 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 position in shares of The Hartford Financial Services Group during the fourth quarter worth about $2,875,000. New Millennium Group LLC acquired a new position in shares of The Hartford Financial Services Group during the fourth quarter worth about $1,552,000. SteelPeak Wealth LLC acquired a new position in shares of The Hartford Financial Services Group during the fourth quarter worth about $1,691,000. Finally, Cerity Partners LLC boosted its position in shares of The Hartford Financial Services Group by 19.8% during the fourth quarter. Cerity Partners LLC now owns 49,614 shares of the insurance provider’s stock worth $4,003,000 after buying an additional 8,203 shares during the period. 93.42% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on HIG shares. Evercore ISI upped their price objective on The Hartford Financial Services Group from $96.00 to $104.00 and gave the stock an “in-line” rating in a research report on Thursday, April 11th. Piper Sandler reaffirmed an “overweight” rating and set a $115.00 price objective on shares of The Hartford Financial Services Group in a research report on Monday, April 1st. JPMorgan Chase & Co. upped their target price on The Hartford Financial Services Group from $91.00 to $104.00 and gave the stock a “neutral” rating in a report on Monday, April 8th. Keefe, Bruyette & Woods upped their target price on The Hartford Financial Services Group from $114.00 to $120.00 and gave the stock an “outperform” rating in a report on Wednesday, April 10th. Finally, Roth Mkm upped their target price on The Hartford Financial Services Group from $90.00 to $95.00 and gave the stock a “neutral” rating in a report on Friday. Seven equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, The Hartford Financial Services Group presently has an average rating of “Moderate Buy” and an average target price of $105.81.

Insider Transactions at The Hartford Financial Services Group

In other 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 transaction, the executive vice president now owns 8,201 shares in the company, valued at $735,137.64. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other 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 transaction, the executive vice president now owns 8,201 shares in the company, valued at $735,137.64. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Beth Ann Costello sold 38,915 shares of the stock in a transaction that occurred on Tuesday, February 27th. The stock was sold at an average price of $95.42, for a total value of $3,713,269.30. Following the transaction, the chief financial officer now owns 69,169 shares in the company, valued at approximately $6,600,105.98. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 106,501 shares of company stock worth $10,141,126. Company insiders own 1.60% of the company’s stock.

The Hartford Financial Services Group Price Performance

NYSE:HIG opened at $95.30 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 stock’s 50 day moving average price is $98.50 and its two-hundred day moving average price is $86.23. The firm has a market capitalization of $28.33 billion, a price-to-earnings ratio of 10.83, a P/E/G ratio of 1.40 and a beta of 0.89. The Hartford Financial Services Group, Inc. has a 12-month low of $67.05 and a 12-month high of $103.64.

The Hartford Financial Services Group (NYSE:HIG) last announced its earnings results on Thursday, April 25th. The insurance provider reported $2.34 earnings per share for the quarter, missing analysts’ consensus estimates of $2.43 by ($0.09). The firm had revenue of $6.42 billion for the quarter, compared to the consensus estimate of $6.51 billion. The Hartford Financial Services Group had a return on equity of 21.04% and a net margin of 10.87%. The Hartford Financial Services Group’s revenue for the quarter was up 8.6% on a year-over-year basis. During the same quarter last year, the business posted $1.68 EPS. On average, analysts anticipate that The Hartford Financial Services Group, Inc. will post 10.13 earnings per share for the current year.

The Hartford Financial Services Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 2nd. Stockholders of record on Monday, March 4th were paid a dividend of $0.47 per share. The ex-dividend date was Friday, March 1st. This represents a $1.88 dividend on an annualized basis and a dividend yield of 1.97%. The Hartford Financial Services Group’s dividend payout ratio (DPR) is currently 21.36%.

The Hartford Financial Services Group Profile

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.