Clearbridge Investments LLC Has $62.24 Million Stake in The Hartford Financial Services Group, Inc. (NYSE:HIG)

Clearbridge Investments LLC reduced its position in shares of The Hartford Financial Services Group, Inc. (NYSE:HIG) by 36.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 568,959 shares of the insurance provider’s stock after selling 330,583 shares during the period. Clearbridge Investments LLC owned approximately 0.20% of The Hartford Financial Services Group worth $62,244,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in HIG. Victory Capital Management Inc. boosted its position in shares of The Hartford Financial Services Group by 4.5% in the fourth quarter. Victory Capital Management Inc. now owns 4,701,675 shares of the insurance provider’s stock valued at $514,363,000 after acquiring an additional 202,487 shares during the period. Nordea Investment Management AB boosted its holdings in The Hartford Financial Services Group by 17.3% in the 4th quarter. Nordea Investment Management AB now owns 3,938,421 shares of the insurance provider’s stock valued at $430,272,000 after purchasing an additional 581,103 shares during the period. Norges Bank acquired a new position in shares of The Hartford Financial Services Group during the 4th quarter worth approximately $416,340,000. Charles Schwab Investment Management Inc. increased its holdings in shares of The Hartford Financial Services Group by 2.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,913,914 shares of the insurance provider’s stock worth $209,382,000 after purchasing an additional 39,585 shares during the period. Finally, Bahl & Gaynor Inc. boosted its stake in shares of The Hartford Financial Services Group by 8.5% in the fourth quarter. Bahl & Gaynor Inc. now owns 1,457,147 shares of the insurance provider’s stock valued at $159,412,000 after buying an additional 114,716 shares during the period. 93.42% of the stock is currently owned by institutional investors.

The Hartford Financial Services Group Stock Performance

The Hartford Financial Services Group stock opened at $123.73 on Tuesday. The business has a 50 day moving average of $115.75 and a 200-day moving average of $115.33. 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, Inc. has a 1 year low of $94.47 and a 1 year high of $124.90. The company has a market capitalization of $35.31 billion, a P/E ratio of 11.95, a P/E/G ratio of 1.12 and a beta of 0.91.

The Hartford Financial Services Group (NYSE:HIG) last released its quarterly earnings results on Thursday, January 30th. The insurance provider reported $2.94 earnings per share (EPS) for the quarter, beating 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%. 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 Announces Dividend

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 given a $0.52 dividend. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.68%. The Hartford Financial Services Group’s dividend payout ratio (DPR) is presently 20.10%.

Analyst Ratings Changes

HIG has been the topic of a number of recent research reports. StockNews.com lowered The Hartford Financial Services Group from a “buy” rating to a “hold” rating in a research note on Tuesday, March 18th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $125.00 price target on shares of The Hartford Financial Services Group in a research note on Monday, February 3rd. Piper Sandler increased their price objective on shares of The Hartford Financial Services Group from $127.00 to $130.00 and gave the stock an “overweight” rating in a research note on Monday, February 3rd. Barclays raised shares of The Hartford Financial Services Group from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $130.00 to $135.00 in a report on Monday, January 6th. Finally, Raymond James upped their price target on shares of The Hartford Financial Services Group from $125.00 to $135.00 and gave the stock an “outperform” rating in a report on Monday. Ten 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. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $123.78.

Insider Activity

In related news, CEO Christopher Swift sold 98,061 shares of the company’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 directly owns 211,082 shares in the company, valued at $25,412,161.98. This represents a 31.72 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Robert W. Paiano sold 13,138 shares of the firm’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 transaction of $1,539,773.60. Following the transaction, the executive vice president now owns 31,678 shares of the company’s stock, valued at approximately $3,712,661.60. The trade was a 29.32 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.60% of the company’s stock.

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.