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

Twin Capital Management Inc. reduced its stake in shares of The Hartford Financial Services Group, Inc. (NYSE:HIG) by 2.1% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 24,192 shares of the insurance provider’s stock after selling 527 shares during the quarter. Twin Capital Management Inc.’s holdings in The Hartford Financial Services Group were worth $2,647,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. HighTower Advisors LLC boosted its holdings in shares of The Hartford Financial Services Group by 7.1% in the 3rd quarter. HighTower Advisors LLC now owns 111,134 shares of the insurance provider’s stock valued at $13,063,000 after buying an additional 7,350 shares in the last quarter. Integrated Wealth Concepts LLC boosted its stake in The Hartford Financial Services Group by 3.2% in the third quarter. Integrated Wealth Concepts LLC now owns 6,930 shares of the insurance provider’s stock valued at $815,000 after acquiring an additional 213 shares in the last quarter. Quantinno Capital Management LP grew its holdings in The Hartford Financial Services Group by 21.6% in the third quarter. Quantinno Capital Management LP now owns 18,744 shares of the insurance provider’s stock worth $2,205,000 after purchasing an additional 3,334 shares during the last quarter. Kovitz Investment Group Partners LLC boosted its position in shares of The Hartford Financial Services Group by 353.8% in the 3rd quarter. Kovitz Investment Group Partners LLC now owns 11,971 shares of the insurance provider’s stock worth $1,408,000 after purchasing an additional 9,333 shares in the last quarter. Finally, EP Wealth Advisors LLC grew its stake in The Hartford Financial Services Group by 588.5% during the 3rd quarter. EP Wealth Advisors LLC now owns 17,344 shares of the insurance provider’s stock worth $2,040,000 after buying an additional 14,825 shares during the last quarter. Institutional investors own 93.42% of the company’s stock.

The Hartford Financial Services Group Stock Down 8.0 %

Shares of NYSE HIG opened at $113.56 on Monday. The Hartford Financial Services Group, Inc. has a 1 year low of $94.47 and a 1 year high of $125.08. The company has a market capitalization of $32.41 billion, a P/E ratio of 10.97, a P/E/G ratio of 1.12 and a beta of 0.68. The company has a 50 day simple moving average of $116.56 and a 200-day simple moving average of $115.47. 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 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, beating 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%. On average, equities research analysts predict that The Hartford Financial Services Group, Inc. will post 11.11 earnings per share for the current year.

The Hartford Financial Services Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 2nd. Stockholders of record on Monday, March 3rd were paid a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.83%. The ex-dividend date was Monday, March 3rd. The Hartford Financial Services Group’s dividend payout ratio (DPR) is 20.10%.

Insider Transactions at The Hartford Financial Services Group

In other The Hartford Financial Services Group news, CEO Christopher Swift sold 98,061 shares of the business’s 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 $25,412,161.98. The trade was a 31.72 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Robert W. Paiano sold 13,138 shares of The Hartford Financial Services Group stock in a transaction on Tuesday, March 11th. The shares were 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 $3,712,661.60. The trade was 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 have sold 112,343 shares of company stock worth $13,488,337. 1.60% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on HIG. Wells Fargo & Company lowered 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 report on Monday, February 3rd. Keefe, Bruyette & Woods upped their price target on shares of 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. Piper Sandler boosted their price objective on shares of The Hartford Financial Services Group from $130.00 to $145.00 and gave the company an “overweight” rating in a report on Tuesday, April 1st. Barclays upgraded The Hartford Financial Services Group from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $130.00 to $135.00 in a research note on Monday, January 6th. Finally, Raymond James boosted their price target on The Hartford Financial Services Group from $125.00 to $135.00 and gave the company an “outperform” rating in a research note on Monday, March 31st. Ten 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’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $123.47.

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.