HighTower Advisors LLC Lowers Position in The Hartford Financial Services Group, Inc. (NYSE:HIG)

HighTower Advisors LLC cut its stake in shares of The Hartford Financial Services Group, Inc. (NYSE:HIG) by 9.2% during the 4th quarter, Holdings Channel.com reports. The firm owned 100,880 shares of the insurance provider’s stock after selling 10,254 shares during the quarter. HighTower Advisors LLC’s holdings in The Hartford Financial Services Group were worth $11,036,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Citizens Financial Group Inc. RI raised its holdings in The Hartford Financial Services Group by 9.1% during the fourth quarter. Citizens Financial Group Inc. RI now owns 7,905 shares of the insurance provider’s stock valued at $865,000 after acquiring an additional 662 shares during the period. Riverbend Wealth Management LLC bought a new stake in The Hartford Financial Services Group during the fourth quarter valued at about $222,000. Independent Advisor Alliance raised its holdings in The Hartford Financial Services Group by 87.7% during the fourth quarter. Independent Advisor Alliance now owns 10,968 shares of the insurance provider’s stock valued at $1,200,000 after acquiring an additional 5,126 shares during the period. Johnson Investment Counsel Inc. raised its holdings in The Hartford Financial Services Group by 4.2% during the fourth quarter. Johnson Investment Counsel Inc. now owns 6,356 shares of the insurance provider’s stock valued at $695,000 after acquiring an additional 257 shares during the period. Finally, Daiwa Securities Group Inc. raised its holdings in The Hartford Financial Services Group by 24.6% during the fourth quarter. Daiwa Securities Group Inc. now owns 45,793 shares of the insurance provider’s stock valued at $5,010,000 after acquiring an additional 9,040 shares during the period. 93.42% of the stock is currently owned by hedge funds and other institutional investors.

The Hartford Financial Services Group Stock Up 2.2 %

Shares of NYSE:HIG opened at $119.06 on Monday. The Hartford Financial Services Group, Inc. has a 1 year low of $94.47 and a 1 year high of $124.90. The business has a 50 day simple moving average of $113.25 and a two-hundred day simple moving average of $114.91. The firm has a market capitalization of $33.98 billion, a PE ratio of 11.50, a price-to-earnings-growth ratio of 1.12 and a beta of 0.91. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.32 and a quick ratio of 0.32.

The Hartford Financial Services Group (NYSE:HIG) last announced its earnings results on Thursday, January 30th. The insurance provider reported $2.94 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.68 by $0.26. The Hartford Financial Services Group had a return on equity of 19.55% and a net margin of 11.72%. On average, equities analysts predict that The Hartford Financial Services Group, Inc. will post 11.11 EPS for the current year.

The Hartford Financial Services Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 2nd. Investors of record on Monday, March 3rd will be issued a $0.52 dividend. The ex-dividend date is Monday, March 3rd. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.75%. The Hartford Financial Services Group’s payout ratio is 20.10%.

Analysts Set New Price Targets

HIG has been the topic of a number of recent analyst reports. Royal Bank of Canada reissued a “sector perform” rating and set a $125.00 price target on shares of The Hartford Financial Services Group in a report on Monday, February 3rd. StockNews.com raised The Hartford Financial Services Group from a “hold” rating to a “buy” rating in a report on Monday, March 10th. Keefe, Bruyette & Woods lifted their target price on The Hartford Financial Services Group from $139.00 to $140.00 and gave the stock an “outperform” rating in a report on Wednesday, February 5th. Barclays raised The Hartford Financial Services Group from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $130.00 to $135.00 in a report on Monday, January 6th. Finally, Piper Sandler lifted their target price on The Hartford Financial Services Group from $127.00 to $130.00 and gave the stock an “overweight” rating in a report on Monday, February 3rd. Nine analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $122.94.

Insider Activity at The Hartford Financial Services Group

In related news, EVP Robert W. Paiano sold 13,138 shares of the business’s stock in a transaction that occurred on Tuesday, March 11th. The stock was sold at an average price of $117.20, for a total value of $1,539,773.60. Following the completion of the sale, the executive vice president now owns 31,678 shares in the company, valued at approximately $3,712,661.60. The trade was a 29.32 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 1.60% of the stock is owned by company insiders.

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.