Franklin Resources Inc. Has $234.30 Million Stock Holdings in The Hartford Financial Services Group, Inc. (NYSE:HIG)

Franklin Resources Inc. trimmed its holdings in The Hartford Financial Services Group, Inc. (NYSE:HIG) by 2.0% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,141,700 shares of the insurance provider’s stock after selling 42,947 shares during the quarter. Franklin Resources Inc.’s holdings in The Hartford Financial Services Group were worth $234,302,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Catalyst Financial Partners LLC lifted its position in shares of The Hartford Financial Services Group by 3.0% during the fourth quarter. Catalyst Financial Partners LLC now owns 3,079 shares of the insurance provider’s stock worth $337,000 after purchasing an additional 90 shares in the last quarter. Barrett & Company Inc. boosted its position in The Hartford Financial Services Group by 46.5% in the 4th quarter. Barrett & Company Inc. now owns 293 shares of the insurance provider’s stock valued at $32,000 after buying an additional 93 shares during the last quarter. Wilmington Savings Fund Society FSB raised its position in shares of The Hartford Financial Services Group by 2.2% during the fourth quarter. Wilmington Savings Fund Society FSB now owns 4,468 shares of the insurance provider’s stock worth $489,000 after acquiring an additional 97 shares during the last quarter. Lifestyle Asset Management Inc. lifted its stake in shares of The Hartford Financial Services Group by 0.9% during the fourth quarter. Lifestyle Asset Management Inc. now owns 11,499 shares of the insurance provider’s stock valued at $1,258,000 after acquiring an additional 98 shares during the period. Finally, Smithfield Trust Co boosted its holdings in The Hartford Financial Services Group by 26.7% in the fourth quarter. Smithfield Trust Co now owns 475 shares of the insurance provider’s stock valued at $51,000 after acquiring an additional 100 shares during the last quarter. Institutional investors own 93.42% of the company’s stock.

Insider Buying and Selling at The Hartford Financial Services Group

In related news, CEO Christopher Swift sold 98,061 shares of The Hartford Financial Services Group stock in a transaction dated 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 completion of the sale, the chief executive officer now owns 211,082 shares of the company’s stock, valued at approximately $25,412,161.98. The trade was a 31.72 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible 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 transaction, the executive vice president now directly owns 31,678 shares in the company, valued at approximately $3,712,661.60. This represents a 29.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.60% of the company’s stock.

The Hartford Financial Services Group Trading Up 0.5 %

NYSE:HIG opened at $124.34 on Wednesday. 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 business’s 50-day simple moving average is $116.00 and its 200-day simple moving average is $115.39. The Hartford Financial Services Group, Inc. has a fifty-two week low of $94.47 and a fifty-two week high of $124.90. The stock has a market capitalization of $35.48 billion, a PE ratio of 12.01, a price-to-earnings-growth ratio of 1.12 and a beta of 0.91.

The Hartford Financial Services Group (NYSE:HIG) last announced its quarterly earnings results 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 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 announced a quarterly dividend, which will be paid on Wednesday, April 2nd. Shareholders of record on Monday, March 3rd will be issued a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 1.67%. The ex-dividend date of this dividend is Monday, March 3rd. The Hartford Financial Services Group’s dividend payout ratio (DPR) is presently 20.10%.

Analysts Set New Price Targets

Several analysts have weighed in on the company. Wells Fargo & Company dropped 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. Piper Sandler lifted their price target on shares of The Hartford Financial Services Group from $130.00 to $145.00 and gave the stock an “overweight” rating in a research report on Tuesday. Royal Bank of Canada restated a “sector perform” rating and issued a $125.00 price objective on shares of The Hartford Financial Services Group in a report on Monday, February 3rd. Barclays raised shares of The Hartford Financial Services Group from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $130.00 to $135.00 in a report on Monday, January 6th. Finally, Keefe, Bruyette & Woods increased their price target 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. Ten investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, The Hartford Financial Services Group has an average rating of “Moderate Buy” and an average target price of $124.61.

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.