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% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 71,292 shares of the insurance provider’s stock after selling 1,457 shares during the quarter. Corebridge Financial Inc.’s holdings in The Hartford Financial Services Group were worth $7,799,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Congress Wealth Management LLC DE bought a new stake in The Hartford Financial Services Group during the 4th quarter worth $263,000. Stevens Capital Management LP boosted its position in The Hartford Financial Services Group by 147.1% during the 4th quarter. Stevens Capital Management LP now owns 4,621 shares of the insurance provider’s stock worth $506,000 after buying an additional 2,751 shares during the period. Fox Run Management L.L.C. bought a new stake in The Hartford Financial Services Group during the 4th quarter worth approximately $221,000. KLP Kapitalforvaltning AS acquired a new position in The Hartford Financial Services Group in the 4th quarter valued at approximately $29,162,000. Finally, Knights of Columbus Asset Advisors LLC increased its position in The Hartford Financial Services Group by 0.8% in the 4th quarter. Knights of Columbus Asset Advisors LLC now owns 66,127 shares of the insurance provider’s stock valued at $7,234,000 after acquiring an additional 509 shares during the period. Institutional investors own 93.42% of the company’s stock.

Insiders Place Their Bets

In other The Hartford Financial Services Group news, CEO Christopher Swift sold 98,061 shares of The Hartford Financial Services Group stock in a transaction on Monday, March 17th. The shares were 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 $25,412,161.98. The trade was a 31.72 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Robert W. Paiano sold 13,138 shares of the stock in a transaction dated Tuesday, March 11th. The shares were sold at an average price of $117.20, for a total transaction of $1,539,773.60. Following the completion of the sale, the executive vice president now 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 Price Performance

Shares of NYSE:HIG opened at $123.11 on Friday. The stock’s 50 day moving average is $115.31 and its 200-day moving average is $115.23. The Hartford Financial Services Group, Inc. has a twelve month low of $94.47 and a twelve month high of $124.90. The company has a quick ratio of 0.32, a current ratio of 0.32 and a debt-to-equity ratio of 0.27. 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 (NYSE:HIG) last released its quarterly earnings data on Thursday, January 30th. The insurance provider reported $2.94 earnings per share for the quarter, beating 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 forecast that The Hartford Financial Services Group, Inc. will post 11.11 EPS for the current fiscal year.

The Hartford Financial Services Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 2nd. Shareholders of record on Monday, March 3rd will be paid a dividend of $0.52 per share. The ex-dividend date 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 dividend payout ratio (DPR) is currently 20.10%.

Analyst Ratings Changes

HIG has been the topic of several analyst reports. 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. Wells Fargo & Company decreased their price target on The Hartford Financial Services Group from $130.00 to $126.00 and set an “overweight” rating for the company in a research note on Monday, February 3rd. Barclays raised The Hartford Financial Services Group from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $130.00 to $135.00 in a research note on Monday, January 6th. Keefe, Bruyette & Woods increased their target price on shares of The Hartford Financial Services Group from $139.00 to $140.00 and gave the company an “outperform” rating in a research report on Wednesday, February 5th. Finally, Royal Bank of Canada restated 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 investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $122.94.

About The Hartford Financial Services Group

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.