Arrowstreet Capital Limited Partnership Sells 379,355 Shares of The Hartford Financial Services Group, Inc. (NYSE:HIG)

Arrowstreet Capital Limited Partnership lessened its stake in The Hartford Financial Services Group, Inc. (NYSE:HIG) by 15.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,071,547 shares of the insurance provider’s stock after selling 379,355 shares during the quarter. Arrowstreet Capital Limited Partnership owned approximately 0.71% of The Hartford Financial Services Group worth $226,627,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Fisher Asset Management LLC bought a new position in The Hartford Financial Services Group in the 3rd quarter worth approximately $340,000. Townsquare Capital LLC increased its holdings in shares of The Hartford Financial Services Group by 33.3% in the third quarter. Townsquare Capital LLC now owns 7,860 shares of the insurance provider’s stock worth $924,000 after purchasing an additional 1,962 shares during the period. Public Sector Pension Investment Board raised its holdings in shares of The Hartford Financial Services Group by 2.0% in the 3rd quarter. Public Sector Pension Investment Board now owns 51,173 shares of the insurance provider’s stock valued at $6,018,000 after acquiring an additional 1,000 shares in the last quarter. Rockefeller Capital Management L.P. lifted its position in The Hartford Financial Services Group by 1.4% during the third quarter. Rockefeller Capital Management L.P. now owns 41,624 shares of the insurance provider’s stock valued at $4,892,000 after purchasing an additional 580 shares during the last quarter. Finally, Captrust Financial Advisors grew its position in The Hartford Financial Services Group by 6.4% in the third quarter. Captrust Financial Advisors now owns 20,131 shares of the insurance provider’s stock worth $2,368,000 after acquiring an additional 1,214 shares in the last quarter. 93.42% of the stock is currently owned by hedge funds and other institutional investors.

The Hartford Financial Services Group Stock Down 0.6 %

Shares of HIG stock opened at $122.21 on Monday. 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 company’s fifty day moving average price is $115.52 and its 200-day moving average price is $115.27. The company has a market capitalization of $34.88 billion, a price-to-earnings ratio of 11.81, a PEG ratio of 1.12 and a beta of 0.91. The Hartford Financial Services Group, Inc. has a one year low of $94.47 and a one year high of $124.90.

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 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%. Sell-side analysts expect that The Hartford Financial Services Group, Inc. will post 11.11 EPS for the current fiscal year.

The Hartford Financial Services Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 2nd. Stockholders of record on Monday, March 3rd will be given a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.70%. 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%.

Wall Street Analyst Weigh In

Several research analysts recently commented on HIG shares. Keefe, Bruyette & Woods lifted their target price on shares of The Hartford Financial Services Group from $139.00 to $140.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 5th. Barclays upgraded shares of The Hartford Financial Services Group from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $130.00 to $135.00 in a report on Monday, January 6th. Piper Sandler upped 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 report on Monday, February 3rd. StockNews.com cut shares of The Hartford Financial Services Group from a “buy” rating to a “hold” rating in a research report on Tuesday, March 18th. Finally, 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. Ten equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, The Hartford Financial Services Group currently has a consensus rating of “Moderate Buy” and a consensus price target of $122.94.

Insider Activity

In other The Hartford Financial Services Group news, CEO Christopher Swift sold 98,061 shares of the 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 transaction, 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Robert W. Paiano sold 13,138 shares of the 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 sale, the executive vice president now directly owns 31,678 shares in the company, valued at $3,712,661.60. This trade represents 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.