Massachusetts Financial Services Co. MA Has $377.32 Million Holdings in The Hartford Financial Services Group, Inc. (NYSE:HIG)

Massachusetts Financial Services Co. MA lifted its stake in shares of The Hartford Financial Services Group, Inc. (NYSE:HIG) by 0.7% in the 4th quarter, HoldingsChannel.com reports. The fund owned 3,448,982 shares of the insurance provider’s stock after acquiring an additional 25,053 shares during the period. Massachusetts Financial Services Co. MA’s holdings in The Hartford Financial Services Group were worth $377,319,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Norges Bank bought a new stake in The Hartford Financial Services Group during the fourth quarter worth approximately $416,340,000. AustralianSuper Pty Ltd lifted its position in The Hartford Financial Services Group by 265.5% during the 4th quarter. AustralianSuper Pty Ltd now owns 1,213,074 shares of the insurance provider’s stock worth $132,710,000 after acquiring an additional 881,224 shares during the last quarter. Assenagon Asset Management S.A. boosted its holdings in The Hartford Financial Services Group by 437.9% during the fourth quarter. Assenagon Asset Management S.A. now owns 871,318 shares of the insurance provider’s stock valued at $95,322,000 after acquiring an additional 709,324 shares during the period. Proficio Capital Partners LLC lifted its position in shares of The Hartford Financial Services Group by 11,904.7% during the 4th quarter. Proficio Capital Partners LLC now owns 631,565 shares of the insurance provider’s stock worth $632,000 after purchasing an additional 626,304 shares during the last quarter. Finally, Raymond James Financial Inc. acquired a new position in shares of The Hartford Financial Services Group during the 4th quarter worth about $65,256,000. Institutional investors and hedge funds own 93.42% of the company’s stock.

The Hartford Financial Services Group Trading Up 0.5 %

NYSE:HIG opened at $124.98 on Thursday. The business’s 50-day simple moving average is $116.27 and its 200-day simple moving average is $115.46. The Hartford Financial Services Group, Inc. has a fifty-two week low of $94.47 and a fifty-two week high of $125.08. 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 stock has a market capitalization of $35.67 billion, a PE ratio of 12.08, a price-to-earnings-growth ratio of 1.12 and a beta of 0.91.

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

The Hartford Financial Services Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, April 2nd. Shareholders of record on Monday, March 3rd were paid a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 1.66%. The ex-dividend date was Monday, March 3rd. The Hartford Financial Services Group’s dividend payout ratio is 20.10%.

Insider Activity

In related news, CEO Christopher Swift sold 98,061 shares of The Hartford Financial Services Group stock in a transaction that occurred 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 sale, the chief executive officer now owns 211,082 shares of the company’s stock, valued at approximately $25,412,161.98. This trade represents a 31.72 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Robert W. Paiano sold 13,138 shares of the company’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 transaction, the executive vice president now directly owns 31,678 shares of the company’s stock, valued at approximately $3,712,661.60. This trade represents a 29.32 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.60% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently issued reports on HIG. Keefe, Bruyette & Woods boosted their price objective on shares of 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. Royal Bank of Canada restated a “sector perform” rating and set a $125.00 price target on shares of The Hartford Financial Services Group in a research note on Monday, February 3rd. Barclays upgraded shares of The Hartford Financial Services Group from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $130.00 to $135.00 in a research note on Monday, January 6th. Piper Sandler raised their target price on The Hartford Financial Services Group from $130.00 to $145.00 and gave the stock an “overweight” rating in a research report on Tuesday. Finally, StockNews.com cut shares of The Hartford Financial Services Group from a “buy” rating to a “hold” rating in a research note on Tuesday, March 18th. Ten equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, The Hartford Financial Services Group presently has an average rating of “Moderate Buy” and an average target price of $124.61.

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.