Retirement Systems of Alabama Reduces Stock Position in The Hartford Financial Services Group, Inc. (NYSE:HIG)

Retirement Systems of Alabama cut its stake in The Hartford Financial Services Group, Inc. (NYSE:HIG) by 0.7% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 422,086 shares of the insurance provider’s stock after selling 2,863 shares during the period. Retirement Systems of Alabama owned approximately 0.14% of The Hartford Financial Services Group worth $33,927,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also made changes to their positions in the company. McGlone Suttner Wealth Management Inc. grew its position in shares of 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 purchasing an additional 331 shares in the last quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH purchased a new stake in shares of The Hartford Financial Services Group in the fourth quarter valued at approximately $2,875,000. New Millennium Group LLC purchased a new stake in shares of The Hartford Financial Services Group in the fourth quarter valued at approximately $1,552,000. SteelPeak Wealth LLC purchased a new stake in shares of The Hartford Financial Services Group in the fourth quarter valued at approximately $1,691,000. Finally, Cerity Partners LLC grew its position in shares of The Hartford Financial Services Group by 19.8% in the fourth quarter. Cerity Partners LLC now owns 49,614 shares of the insurance provider’s stock valued at $4,003,000 after purchasing an additional 8,203 shares in the last quarter. 93.42% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts recently weighed in on HIG shares. Keefe, Bruyette & Woods increased their price objective on The Hartford Financial Services Group from $114.00 to $120.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 10th. Piper Sandler reiterated an “overweight” rating and issued a $115.00 price objective on shares of The Hartford Financial Services Group in a research report on Monday, April 1st. Evercore ISI increased 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. TD Cowen increased their price objective 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, Citigroup increased their price objective on The Hartford Financial Services Group from $109.00 to $113.00 and gave the stock a “buy” rating in a research report on Tuesday, April 16th. Seven analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $105.81.

Insider Buying and Selling at The Hartford Financial Services Group

In other The Hartford Financial Services Group news, EVP Robert W. Paiano sold 14,528 shares of the firm’s stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $93.97, for a total value of $1,365,196.16. Following the sale, the executive vice president now directly owns 46,792 shares in the company, valued at $4,397,044.24. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other The Hartford Financial Services Group news, EVP Robert W. Paiano sold 14,528 shares of the firm’s stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $93.97, for a total value of $1,365,196.16. Following the sale, the executive vice president now directly owns 46,792 shares in the company, valued at $4,397,044.24. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Allison G. Niderno sold 1,332 shares of the firm’s stock in a transaction on Tuesday, February 6th. The shares were sold at an average price of $89.74, for a total value of $119,533.68. Following the completion of the sale, the senior vice president now owns 630 shares in the company, valued at $56,536.20. The disclosure for this sale can be found here. Insiders have sold a total of 106,501 shares of company stock worth $10,141,126 over the last ninety days. Corporate insiders own 1.60% of the company’s stock.

The Hartford Financial Services Group Stock Down 3.8 %

NYSE:HIG opened at $95.30 on Monday. The company has a quick ratio of 0.31, a current ratio of 0.31 and a debt-to-equity ratio of 0.29. The stock’s fifty day moving average is $98.50 and its two-hundred day moving average is $86.45. The Hartford Financial Services Group, Inc. has a 52 week low of $67.05 and a 52 week high of $103.64. The stock has a market capitalization of $28.19 billion, a price-to-earnings ratio of 10.83, a price-to-earnings-growth ratio of 1.35 and a beta of 0.89.

The Hartford Financial Services Group (NYSE:HIG) last announced its quarterly earnings data on Thursday, April 25th. The insurance provider reported $2.34 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.43 by ($0.09). The company had revenue of $6.42 billion during the quarter, compared to analyst estimates of $6.51 billion. The Hartford Financial Services Group had a net margin of 10.87% and a return on equity of 20.64%. The firm’s revenue was up 8.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.68 earnings per share. Research analysts anticipate that The Hartford Financial Services Group, Inc. will post 10.11 EPS for the current year.

The Hartford Financial Services Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 2nd. Shareholders of record on Monday, March 4th were paid a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a yield of 1.97%. The ex-dividend date was Friday, March 1st. The Hartford Financial Services Group’s dividend payout ratio is presently 21.36%.

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.