PGGM Investments Raises Stock Position in The Hartford Financial Services Group, Inc. (NYSE:HIG)

PGGM Investments boosted its holdings in The Hartford Financial Services Group, Inc. (NYSE:HIG) by 9.9% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 85,681 shares of the insurance provider’s stock after buying an additional 7,716 shares during the period. PGGM Investments’ holdings in The Hartford Financial Services Group were worth $6,887,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of the business. Intact Investment Management Inc. increased its stake in The Hartford Financial Services Group by 16.7% in the 4th quarter. Intact Investment Management Inc. now owns 8,400 shares of the insurance provider’s stock worth $675,000 after buying an additional 1,200 shares in the last quarter. Russell Investments Group Ltd. increased its stake in The Hartford Financial Services Group by 26.8% in the 4th quarter. Russell Investments Group Ltd. now owns 695,033 shares of the insurance provider’s stock worth $55,870,000 after buying an additional 146,868 shares in the last quarter. Headlands Technologies LLC increased its stake in The Hartford Financial Services Group by 6,198.4% in the 4th quarter. Headlands Technologies LLC now owns 7,684 shares of the insurance provider’s stock worth $618,000 after buying an additional 7,562 shares in the last quarter. Citizens Financial Group Inc. RI increased its stake in The Hartford Financial Services Group by 43.7% in the 4th quarter. Citizens Financial Group Inc. RI now owns 4,868 shares of the insurance provider’s stock worth $391,000 after buying an additional 1,481 shares in the last quarter. Finally, Truist Financial Corp increased its stake in The Hartford Financial Services Group by 1.9% in the 4th quarter. Truist Financial Corp now owns 130,785 shares of the insurance provider’s stock worth $10,512,000 after buying an additional 2,432 shares in the last quarter. Hedge funds and other institutional investors own 93.42% of the company’s stock.

The Hartford Financial Services Group Trading Down 3.8 %

Shares of NYSE:HIG traded down $3.79 during trading on Friday, reaching $95.30. The company’s stock had a trading volume of 2,889,683 shares, compared to its average volume of 1,622,156. The company has a current ratio of 0.32, a quick ratio of 0.32 and a debt-to-equity ratio of 0.29. The stock has a market capitalization of $28.33 billion, a PE ratio of 10.83, a price-to-earnings-growth ratio of 1.34 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 firm’s 50 day simple moving average is $98.50 and its two-hundred day simple moving average is $86.34.

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 firm had revenue of $6.42 billion during 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 firm’s revenue for the quarter was up 8.6% on a year-over-year basis. During the same period in the previous year, the business earned $1.68 EPS. On average, research analysts predict that The Hartford Financial Services Group, Inc. will post 10.11 EPS for the current fiscal year.

The Hartford Financial Services Group Dividend Announcement

The company also recently disclosed 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 annualized dividend and a yield of 1.97%. The ex-dividend date was Friday, March 1st. The Hartford Financial Services Group’s payout ratio is currently 21.36%.

Insiders Place Their Bets

In other The Hartford Financial Services Group news, SVP Allison G. Niderno sold 1,332 shares of the firm’s stock in a transaction dated 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 of the company’s stock, valued at $56,536.20. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other The Hartford Financial Services Group news, SVP Allison G. Niderno sold 1,332 shares of the firm’s stock in a transaction dated 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 of the company’s stock, valued at $56,536.20. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP David C. Robinson sold 15,000 shares of the firm’s stock in a transaction dated 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 completion of the sale, the executive vice president now directly owns 8,201 shares of the company’s stock, valued at approximately $735,137.64. The disclosure for this sale can be found here. Insiders sold a total of 106,501 shares of company stock valued at $10,141,126 over the last 90 days. Insiders own 1.60% of the company’s stock.

Wall Street Analyst Weigh In

HIG has been the subject of a number of analyst reports. Citigroup increased their price target on The Hartford Financial Services Group from $109.00 to $113.00 and gave the stock a “buy” rating in a research note on Tuesday, April 16th. 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 report on Thursday, April 11th. JPMorgan Chase & Co. raised their price objective on The Hartford Financial Services Group from $91.00 to $104.00 and gave the company a “neutral” rating in a research report on Monday, April 8th. Wells Fargo & Company raised their price objective on The Hartford Financial Services Group from $106.00 to $117.00 and gave the company an “overweight” rating in a research report on Thursday, April 11th. Finally, Royal Bank of Canada raised their price objective on The Hartford Financial Services Group from $77.00 to $95.00 and gave the company a “sector perform” rating in a research report on Monday, February 5th. Seven research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $105.81.

The Hartford Financial Services Group Company 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.