Retirement Systems of Alabama Lowers Holdings in The Hartford Financial Services Group, Inc. (NYSE:HIG)

Retirement Systems of Alabama cut its position in The Hartford Financial Services Group, Inc. (NYSE:HIG) by 0.4% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 300,992 shares of the insurance provider’s stock after selling 1,343 shares during the quarter. Retirement Systems of Alabama’s holdings in The Hartford Financial Services Group were worth $32,929,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of HIG. Czech National Bank lifted its stake in The Hartford Financial Services Group by 5.9% in the 3rd quarter. Czech National Bank now owns 59,690 shares of the insurance provider’s stock worth $7,020,000 after purchasing an additional 3,331 shares in the last quarter. Clean Yield Group purchased a new stake in shares of The Hartford Financial Services Group during the 3rd quarter valued at $33,000. Atomi Financial Group Inc. raised its position in shares of The Hartford Financial Services Group by 14.8% during the 3rd quarter. Atomi Financial Group Inc. now owns 4,809 shares of the insurance provider’s stock valued at $566,000 after buying an additional 619 shares in the last quarter. CWM LLC raised its position in shares of The Hartford Financial Services Group by 7.9% during the 3rd quarter. CWM LLC now owns 15,048 shares of the insurance provider’s stock valued at $1,770,000 after buying an additional 1,106 shares in the last quarter. Finally, Marcum Wealth LLC purchased a new stake in shares of The Hartford Financial Services Group during the 3rd quarter valued at $209,000. 93.42% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at The Hartford Financial Services Group

In other news, EVP Adin M. Tooker sold 6,865 shares of the firm’s stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $117.04, for a total value of $803,479.60. Following the completion of the sale, the executive vice president now directly owns 25,820 shares of the company’s stock, valued at approximately $3,021,972.80. This trade represents a 21.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 1.60% of the company’s stock.

The Hartford Financial Services Group Price Performance

Shares of The Hartford Financial Services Group stock opened at $113.54 on Thursday. The firm has a market cap of $32.92 billion, a PE ratio of 10.97, a price-to-earnings-growth ratio of 0.81 and a beta of 0.97. The Hartford Financial Services Group, Inc. has a 12-month low of $89.04 and a 12-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 company’s fifty day simple moving average is $112.51 and its two-hundred day simple moving average is $113.68.

The Hartford Financial Services Group (NYSE:HIG) last posted its earnings results on Thursday, January 30th. The insurance provider reported $2.94 EPS for the quarter, topping 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%. As a group, equities analysts expect that The Hartford Financial Services Group, Inc. will post 11.46 EPS for the current year.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on HIG. Piper Sandler raised their price objective on shares of The Hartford Financial Services Group from $127.00 to $130.00 and gave the company an “overweight” rating in a research report on Monday. Barclays upgraded shares of The Hartford Financial Services Group from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $130.00 to $135.00 in a research report on Monday, January 6th. Wells Fargo & Company lowered their price objective on shares of The Hartford Financial Services Group from $130.00 to $126.00 and set an “overweight” rating on the stock in a research report on Monday. StockNews.com raised shares of The Hartford Financial Services Group from a “hold” rating to a “buy” rating in a report on Friday, November 15th. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and set a $125.00 target price on shares of The Hartford Financial Services Group in a report on Monday. Nine research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, The Hartford Financial Services Group 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.