iA Global Asset Management Inc. Sells 117 Shares of The Hartford Financial Services Group, Inc. (NYSE:HIG)

iA Global Asset Management Inc. trimmed its stake in The Hartford Financial Services Group, Inc. (NYSE:HIG) by 0.5% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 22,738 shares of the insurance provider’s stock after selling 117 shares during the period. iA Global Asset Management Inc.’s holdings in The Hartford Financial Services Group were worth $2,488,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of HIG. AustralianSuper Pty Ltd lifted its stake in shares of The Hartford Financial Services Group by 265.5% in the 4th quarter. AustralianSuper Pty Ltd now owns 1,213,074 shares of the insurance provider’s stock valued at $132,710,000 after purchasing an additional 881,224 shares during the last quarter. Assenagon Asset Management S.A. raised its holdings in shares of The Hartford Financial Services Group by 437.9% in the fourth quarter. Assenagon Asset Management S.A. now owns 871,318 shares of the insurance provider’s stock worth $95,322,000 after buying an additional 709,324 shares during the period. Proficio Capital Partners LLC raised its holdings in shares of The Hartford Financial Services Group by 11,904.7% in the fourth quarter. Proficio Capital Partners LLC now owns 631,565 shares of the insurance provider’s stock worth $632,000 after buying an additional 626,304 shares during the period. Raymond James Financial Inc. purchased a new stake in shares of The Hartford Financial Services Group in the fourth quarter worth approximately $65,256,000. Finally, Nordea Investment Management AB raised its holdings in shares of The Hartford Financial Services Group by 17.3% in the fourth quarter. Nordea Investment Management AB now owns 3,938,421 shares of the insurance provider’s stock worth $430,272,000 after buying an additional 581,103 shares during the period. 93.42% of the stock is owned by institutional investors.

Insider Transactions at The Hartford Financial Services Group

In other news, CEO Christopher Swift sold 98,061 shares of the firm’s stock in a transaction on Monday, March 17th. The stock was sold at an average price of $120.39, for a total value of $11,805,563.79. Following the completion of the sale, the chief executive officer now owns 211,082 shares of the company’s stock, valued at $25,412,161.98. This trade represents a 31.72 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Robert W. Paiano sold 13,138 shares of the firm’s stock in a transaction 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 directly owns 31,678 shares of the company’s stock, valued at $3,712,661.60. The trade was a 29.32 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.60% of the company’s stock.

The Hartford Financial Services Group Trading Down 0.4 %

Shares of NYSE:HIG opened at $119.20 on Friday. The Hartford Financial Services Group, Inc. has a 12-month low of $94.47 and a 12-month high of $124.90. The business’s fifty day simple moving average is $114.36 and its 200-day simple moving average is $115.05. The company has a market capitalization of $34.02 billion, a PE ratio of 11.52, a P/E/G ratio of 1.12 and a beta of 0.91. The company has a current ratio of 0.32, a quick ratio of 0.32 and a debt-to-equity ratio of 0.27.

The Hartford Financial Services Group (NYSE:HIG) last announced its quarterly earnings results on Thursday, January 30th. The insurance provider reported $2.94 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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%. As a group, equities research analysts predict that The Hartford Financial Services Group, Inc. will post 11.11 earnings per share for the current fiscal year.

The Hartford Financial Services Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 2nd. Stockholders of record on Monday, March 3rd will be given 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 1.74%. The Hartford Financial Services Group’s payout ratio is 20.10%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. StockNews.com downgraded The Hartford Financial Services Group from a “buy” rating to a “hold” rating in a report on Tuesday. Keefe, Bruyette & Woods increased their price target 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. BMO Capital Markets increased their price target on The Hartford Financial Services Group from $100.00 to $141.00 and gave the stock a “market perform” rating in a report on Wednesday, November 27th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $125.00 price target on shares of The Hartford Financial Services Group in a report on Monday, February 3rd. Finally, Piper Sandler raised their price objective 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. Ten investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $122.94.

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.