The Hartford Financial Services Group, Inc. (NYSE:HIG) Shares Acquired by abrdn plc

abrdn plc increased its holdings in shares of The Hartford Financial Services Group, Inc. (NYSE:HIG) by 89.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 159,116 shares of the insurance provider’s stock after purchasing an additional 75,054 shares during the period. abrdn plc owned 0.05% of The Hartford Financial Services Group worth $12,790,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. GoalVest Advisory LLC increased its holdings in shares of The Hartford Financial Services Group by 464.8% in the 4th quarter. GoalVest Advisory LLC now owns 305 shares of the insurance provider’s stock valued at $25,000 after purchasing an additional 251 shares in the last quarter. Turtle Creek Wealth Advisors LLC purchased a new stake in shares of The Hartford Financial Services Group during the fourth quarter valued at approximately $26,000. CVA Family Office LLC purchased a new stake in shares of The Hartford Financial Services Group during the fourth quarter valued at approximately $27,000. Chilton Capital Management LLC bought a new stake in shares of The Hartford Financial Services Group in the fourth quarter worth $28,000. Finally, Selway Asset Management bought a new stake in shares of The Hartford Financial Services Group in the third quarter worth $29,000. Institutional investors and hedge funds own 93.42% of the company’s stock.

The Hartford Financial Services Group Price Performance

The Hartford Financial Services Group stock opened at $99.09 on Friday. The company has a quick ratio of 0.32, a current ratio of 0.32 and a debt-to-equity ratio of 0.29. The Hartford Financial Services Group, Inc. has a 12-month low of $67.05 and a 12-month high of $103.64. The stock has a market cap of $29.46 billion, a price-to-earnings ratio of 12.40, a P/E/G ratio of 1.41 and a beta of 0.89. The business’s 50-day simple moving average is $98.45 and its 200 day simple moving average is $86.07.

The Hartford Financial Services Group (NYSE:HIG) last issued its earnings results on Thursday, April 25th. The insurance provider reported $2.34 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.38 by ($0.04). The Hartford Financial Services Group had a return on equity of 19.82% and a net margin of 10.21%. The company had revenue of $6.42 billion for the quarter, compared to the consensus estimate of $6.51 billion. During the same quarter last year, the business posted $1.68 EPS. The Hartford Financial Services Group’s quarterly revenue was up 8.6% on a year-over-year basis. As a group, research analysts anticipate that The Hartford Financial Services Group, Inc. will post 10.13 earnings per share for the current year.

The Hartford Financial Services Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 2nd. Investors of record on Monday, March 4th were given a $0.47 dividend. The ex-dividend date was Friday, March 1st. This represents a $1.88 annualized dividend and a dividend yield of 1.90%. The Hartford Financial Services Group’s dividend payout ratio is presently 23.53%.

Insider Activity at The Hartford Financial Services Group

In other The Hartford Financial Services Group news, CFO Beth Ann Costello sold 38,915 shares of the business’s stock in a transaction that occurred on Tuesday, February 27th. The stock was sold at an average price of $95.42, for a total value of $3,713,269.30. Following the sale, the chief financial officer now owns 69,169 shares in the company, valued at approximately $6,600,105.98. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, EVP Adin M. Tooker sold 8,206 shares of the company’s stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $95.60, for a total transaction of $784,493.60. Following the sale, the executive vice president now owns 25,820 shares in the company, valued at approximately $2,468,392. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Beth Ann Costello sold 38,915 shares of the company’s stock in a transaction that occurred on Tuesday, February 27th. The stock was sold at an average price of $95.42, for a total value of $3,713,269.30. Following the sale, the chief financial officer now owns 69,169 shares in the company, valued at approximately $6,600,105.98. The disclosure for this sale can be found here. In the last three months, insiders sold 106,501 shares of company stock worth $10,141,126. 1.60% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several research firms have weighed in on HIG. Piper Sandler reiterated an “overweight” rating and set a $115.00 target price on shares of The Hartford Financial Services Group in a research note on Monday, April 1st. Roth Mkm boosted their target price on shares of The Hartford Financial Services Group from $80.00 to $90.00 and gave the company a “neutral” rating in a research note on Friday, February 2nd. Citigroup boosted their target price on shares of The Hartford Financial Services Group from $109.00 to $113.00 and gave the company a “buy” rating in a research note on Tuesday, April 16th. Wells Fargo & Company boosted their target price on shares of The Hartford Financial Services Group from $106.00 to $117.00 and gave the company an “overweight” rating in a research note on Thursday, April 11th. Finally, JPMorgan Chase & Co. boosted their price target on shares of The Hartford Financial Services Group from $91.00 to $104.00 and gave the company a “neutral” rating in a report on Monday, April 8th. Seven analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $105.56.

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.