Corebridge Financial Inc. Sells 1,457 Shares of The Hartford Financial Services Group, Inc. (NYSE:HIG)

Corebridge Financial Inc. lessened its holdings in The Hartford Financial Services Group, Inc. (NYSE:HIG) by 2.0% in the fourth quarter, Holdings Channel reports. The firm owned 71,292 shares of the insurance provider’s stock after selling 1,457 shares during the period. Corebridge Financial Inc.’s holdings in The Hartford Financial Services Group were worth $7,799,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently made changes to their positions in the company. Great Valley Advisor Group Inc. grew its position in The Hartford Financial Services Group by 7.7% during the third quarter. Great Valley Advisor Group Inc. now owns 2,557 shares of the insurance provider’s stock valued at $300,000 after buying an additional 182 shares during the period. Cerity Partners LLC boosted its stake in The Hartford Financial Services Group by 9.9% in the third quarter. Cerity Partners LLC now owns 67,445 shares of the insurance provider’s stock valued at $7,932,000 after acquiring an additional 6,094 shares during the last quarter. Fisher Asset Management LLC bought a new position in shares of The Hartford Financial Services Group during the 3rd quarter valued at approximately $340,000. Bank of Montreal Can increased its stake in shares of The Hartford Financial Services Group by 4.9% during the 3rd quarter. Bank of Montreal Can now owns 435,627 shares of the insurance provider’s stock worth $50,873,000 after purchasing an additional 20,385 shares during the last quarter. Finally, D.A. Davidson & CO. raised its holdings in shares of The Hartford Financial Services Group by 1.0% in the 3rd quarter. D.A. Davidson & CO. now owns 19,247 shares of the insurance provider’s stock worth $2,264,000 after purchasing an additional 199 shares during the period. 93.42% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts have weighed in on HIG shares. Wells Fargo & Company reduced their price objective on The Hartford Financial Services Group from $130.00 to $126.00 and set an “overweight” rating for the company in a report on Monday, February 3rd. StockNews.com downgraded The Hartford Financial Services Group from a “buy” rating to a “hold” rating in a research note on Tuesday, March 18th. Keefe, Bruyette & Woods boosted their price objective on The Hartford Financial Services Group from $139.00 to $140.00 and gave the company an “outperform” rating in a research note on Wednesday, February 5th. Barclays upgraded shares of The Hartford Financial Services Group from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $130.00 to $135.00 in a research report on Monday, January 6th. Finally, Royal Bank of Canada reissued a “sector perform” rating and issued a $125.00 price target on shares of The Hartford Financial Services Group in a research report on Monday, February 3rd. Ten analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $122.94.

Insiders Place Their Bets

In related news, CEO Christopher Swift sold 98,061 shares of the firm’s stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $120.39, for a total transaction of $11,805,563.79. Following the transaction, the chief executive officer now directly 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 SEC, which is accessible through this link. 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 completion of the sale, the executive vice president now directly owns 31,678 shares of the company’s stock, valued at approximately $3,712,661.60. This 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.

The Hartford Financial Services Group Stock Up 0.4 %

Shares of NYSE HIG opened at $123.11 on Friday. 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 business has a 50-day moving average of $115.31 and a 200-day moving average of $115.23. The firm has a market capitalization of $35.13 billion, a price-to-earnings ratio of 11.89, a PEG ratio of 1.12 and a beta of 0.91. The Hartford Financial Services Group, Inc. has a 12 month low of $94.47 and a 12 month high of $124.90.

The Hartford Financial Services Group (NYSE:HIG) last released its quarterly earnings results on Thursday, January 30th. The insurance provider reported $2.94 EPS for the quarter, topping analysts’ consensus estimates 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 will be paid on Wednesday, April 2nd. Shareholders of record on Monday, March 3rd will be given a dividend of $0.52 per share. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $2.08 dividend on an annualized basis and a yield of 1.69%. The Hartford Financial Services Group’s payout ratio is 20.10%.

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.