Hsbc Holdings PLC Lowers Stock Position in The Hartford Financial Services Group, Inc. (NYSE:HIG)

Hsbc Holdings PLC trimmed its position in The Hartford Financial Services Group, Inc. (NYSE:HIG) by 2.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,047,708 shares of the insurance provider’s stock after selling 29,850 shares during the quarter. Hsbc Holdings PLC’s holdings in The Hartford Financial Services Group were worth $114,577,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Thurston Springer Miller Herd & Titak Inc. grew its position in shares of The Hartford Financial Services Group by 3,342.9% during the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 241 shares of the insurance provider’s stock worth $26,000 after purchasing an additional 234 shares in the last quarter. Barrett & Company Inc. boosted its stake 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 worth $32,000 after purchasing an additional 93 shares during the period. DT Investment Partners LLC boosted its stake in The Hartford Financial Services Group by 49.8% in the 4th quarter. DT Investment Partners LLC now owns 331 shares of the insurance provider’s stock worth $36,000 after purchasing an additional 110 shares during the period. Flagship Wealth Advisors LLC purchased a new stake in The Hartford Financial Services Group during the 4th quarter valued at approximately $36,000. Finally, Key Financial Inc raised its position in shares of The Hartford Financial Services Group by 526.3% during the fourth quarter. Key Financial Inc now owns 357 shares of the insurance provider’s stock valued at $39,000 after buying an additional 300 shares during the last quarter. Institutional investors own 93.42% of the company’s stock.

Insider Activity at The Hartford Financial Services Group

In other The Hartford Financial Services Group news, EVP Robert W. Paiano sold 13,138 shares of the company’s stock in a transaction on Tuesday, March 11th. The stock was 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 in the company, valued at approximately $3,712,661.60. This represents a 29.32 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Christopher Swift sold 1,144 shares of the company’s stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $125.00, for a total transaction of $143,000.00. Following the completion of the sale, the chief executive officer now directly owns 211,082 shares of the company’s stock, valued at approximately $26,385,250. This trade represents a 0.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 112,343 shares of company stock worth $13,488,337 in the last 90 days. 1.60% of the stock is owned by corporate insiders.

The Hartford Financial Services Group Stock Up 0.3 %

Shares of NYSE:HIG opened at $119.05 on Thursday. 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 has a 50 day simple moving average of $117.40 and a two-hundred day simple moving average of $115.35. The Hartford Financial Services Group, Inc. has a 1 year low of $94.47 and a 1 year high of $125.08. The firm has a market capitalization of $34.29 billion, a PE ratio of 11.50, a price-to-earnings-growth ratio of 1.12 and a beta of 0.68.

The Hartford Financial Services Group (NYSE:HIG) last announced its quarterly earnings data on Thursday, January 30th. The insurance provider reported $2.94 EPS for the quarter, beating the consensus estimate 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 analysts predict that The Hartford Financial Services Group, Inc. will post 11.11 EPS 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. Investors of record on Monday, March 3rd were paid a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 1.75%. The ex-dividend date was Monday, March 3rd. The Hartford Financial Services Group’s dividend payout ratio is presently 20.10%.

Analyst Ratings Changes

A number of brokerages recently weighed in on HIG. Piper Sandler upped their target price 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, April 1st. Barclays raised their price objective on The Hartford Financial Services Group from $135.00 to $140.00 and gave the company an “overweight” rating in a research report on Friday, April 11th. Raymond James lifted their target price on The Hartford Financial Services Group from $125.00 to $135.00 and gave the stock an “outperform” rating in a report on Monday, March 31st. Wells Fargo & Company dropped their price target on The Hartford Financial Services Group from $126.00 to $125.00 and set an “overweight” rating for the company in a research note on Thursday, April 10th. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $125.00 price objective on shares of The Hartford Financial Services Group in a research note on Monday, February 3rd. Eight research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, The Hartford Financial Services Group presently has an average rating of “Moderate Buy” and a consensus price target of $124.13.

The Hartford Financial Services Group 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.