Twin Capital Management Inc. Cuts Position in The Hartford Financial Services Group, Inc. (NYSE:HIG)

Twin Capital Management Inc. lowered its position in The Hartford Financial Services Group, Inc. (NYSE:HIG) by 2.1% in the fourth quarter, Holdings Channel reports. The fund owned 24,192 shares of the insurance provider’s stock after selling 527 shares during the period. Twin Capital Management Inc.’s holdings in The Hartford Financial Services Group were worth $2,647,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. HighTower Advisors LLC lifted its position in shares of The Hartford Financial Services Group by 7.1% during the 3rd quarter. HighTower Advisors LLC now owns 111,134 shares of the insurance provider’s stock worth $13,063,000 after purchasing an additional 7,350 shares during the last quarter. Horizon Advisory Services Inc. purchased a new position in The Hartford Financial Services Group during the 4th quarter worth approximately $277,000. Zurich Insurance Group Ltd FI purchased a new stake in The Hartford Financial Services Group in the third quarter valued at approximately $19,005,000. Assenagon Asset Management S.A. boosted 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 valued at $95,322,000 after acquiring an additional 709,324 shares during the period. Finally, Victory Capital Management Inc. grew its position in The Hartford Financial Services Group by 4.5% during the 4th quarter. Victory Capital Management Inc. now owns 4,701,675 shares of the insurance provider’s stock worth $514,363,000 after purchasing an additional 202,487 shares during the last quarter. Institutional investors and hedge funds own 93.42% of the company’s stock.

The Hartford Financial Services Group Price Performance

HIG stock opened at $113.56 on Monday. The company has a market cap of $32.41 billion, a PE ratio of 10.97, a price-to-earnings-growth ratio of 1.12 and a beta of 0.68. 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 stock has a 50-day moving average price of $116.56 and a two-hundred day moving average price of $115.47. The Hartford Financial Services Group, Inc. has a 12-month low of $94.47 and a 12-month high of $125.08.

The Hartford Financial Services Group (NYSE:HIG) last issued its earnings results on Thursday, January 30th. The insurance provider reported $2.94 earnings per share (EPS) for the quarter, topping 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, research 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 firm also recently announced a quarterly dividend, which was paid on Wednesday, April 2nd. Investors of record on Monday, March 3rd were issued a dividend of $0.52 per share. The ex-dividend date was Monday, March 3rd. This represents a $2.08 annualized dividend and a dividend yield of 1.83%. The Hartford Financial Services Group’s payout ratio is 20.10%.

Analyst Ratings Changes

HIG has been the topic of a number of recent research reports. Wells Fargo & Company dropped their target price on The Hartford Financial Services Group from $130.00 to $126.00 and set an “overweight” rating on the stock in a report on Monday, February 3rd. StockNews.com downgraded shares of The Hartford Financial Services Group from a “buy” rating to a “hold” rating in a research report on Tuesday, March 18th. Raymond James increased their target price on The Hartford Financial Services Group from $125.00 to $135.00 and gave the stock an “outperform” rating in a research note on Monday, March 31st. Keefe, Bruyette & Woods raised their price target on The Hartford Financial Services Group from $139.00 to $140.00 and gave the company an “outperform” rating in a report on Wednesday, February 5th. Finally, Piper Sandler upped their price objective on The Hartford Financial Services Group from $130.00 to $145.00 and gave the stock an “overweight” rating in a report on Tuesday, April 1st. Ten research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $123.47.

Insider Buying and Selling

In other news, CEO Christopher Swift sold 98,061 shares of the stock in a transaction dated 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 in the company, valued at approximately $25,412,161.98. This trade represents a 31.72 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, 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 transaction, the executive vice president now directly owns 31,678 shares in the company, valued at $3,712,661.60. This trade represents a 29.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 112,343 shares of company stock valued at $13,488,337. Company insiders own 1.60% of the company’s stock.

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.