Cognios Beta Neutral Large Cap Fund LP Trims Stake in The Hartford Financial Services Group, Inc. (NYSE:HIG)

Cognios Beta Neutral Large Cap Fund LP lowered its stake in The Hartford Financial Services Group, Inc. (NYSE:HIG) by 10.7% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 5,724 shares of the insurance provider’s stock after selling 688 shares during the period. Cognios Beta Neutral Large Cap Fund LP’s holdings in The Hartford Financial Services Group were worth $460,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in HIG. GoalVest Advisory LLC grew its stake 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 worth $25,000 after buying an additional 251 shares during the last quarter. Turtle Creek Wealth Advisors LLC bought a new position in The Hartford Financial Services Group in the 4th quarter valued at approximately $26,000. CVA Family Office LLC bought a new position in The Hartford Financial Services Group in the 4th quarter valued at approximately $27,000. Chilton Capital Management LLC bought a new position in The Hartford Financial Services Group in the 4th quarter valued at approximately $28,000. Finally, Selway Asset Management bought a new position in The Hartford Financial Services Group in the 3rd quarter valued at approximately $29,000. Hedge funds and other institutional investors own 93.42% of the company’s stock.

Insider Activity

In related news, SVP Allison G. Niderno sold 1,332 shares of the business’s stock in a transaction on Tuesday, February 6th. The shares were sold at an average price of $89.74, for a total transaction of $119,533.68. Following the completion of the transaction, the senior vice president now directly owns 630 shares in the company, valued at $56,536.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CFO Beth Ann Costello sold 38,915 shares of the company’s stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $95.42, for a total transaction of $3,713,269.30. Following the completion of the transaction, 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 legal filing with the SEC, which can be accessed through the SEC website. Also, SVP Allison G. Niderno sold 1,332 shares of the company’s stock in a transaction dated Tuesday, February 6th. The stock was sold at an average price of $89.74, for a total transaction of $119,533.68. Following the transaction, the senior vice president now owns 630 shares of the company’s stock, valued at approximately $56,536.20. The disclosure for this sale can be found here. Insiders have sold 106,501 shares of company stock valued at $10,141,126 over the last ninety days. 1.60% of the stock is currently owned by insiders.

The Hartford Financial Services Group Trading Down 0.2 %

Shares of The Hartford Financial Services Group stock traded down $0.17 on Wednesday, hitting $99.86. 1,871,304 shares of the company traded hands, compared to its average volume of 1,797,402. The stock’s 50 day moving average price is $98.16 and its 200-day moving average price is $85.88. The company has a current ratio of 0.32, a quick ratio of 0.32 and a debt-to-equity ratio of 0.29. The Hartford Financial Services Group, Inc. has a 52 week low of $67.05 and a 52 week high of $103.64. The company has a market cap of $29.69 billion, a PE ratio of 12.50, a PEG ratio of 1.41 and a beta of 0.89.

The Hartford Financial Services Group (NYSE:HIG) last issued its quarterly earnings data on Friday, February 2nd. The insurance provider reported $3.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.44 by $0.62. The Hartford Financial Services Group had a net margin of 10.21% and a return on equity of 19.82%. The company had revenue of $6.40 billion for the quarter, compared to analyst estimates of $5.84 billion. During the same period last year, the company posted $2.31 earnings per share. The Hartford Financial Services Group’s revenue was up 6.4% compared to the same quarter last year. Equities research analysts predict that The Hartford Financial Services Group, Inc. will post 10.13 EPS for the current year.

The Hartford Financial Services Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 2nd. Stockholders of record on Monday, March 4th were issued a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a dividend yield of 1.88%. The ex-dividend date was Friday, March 1st. The Hartford Financial Services Group’s dividend payout ratio (DPR) is presently 23.53%.

Analyst Upgrades and Downgrades

HIG has been the topic of several analyst reports. Keefe, Bruyette & Woods upped their price objective on The Hartford Financial Services Group from $114.00 to $120.00 and gave the company an “outperform” rating in a research report on Wednesday, April 10th. UBS Group increased their price target on The Hartford Financial Services Group from $100.00 to $107.00 and gave the company a “buy” rating in a report on Monday, February 5th. JPMorgan Chase & Co. increased their price target on 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. Royal Bank of Canada increased their price target on The Hartford Financial Services Group from $77.00 to $95.00 and gave the company a “sector perform” rating in a report on Monday, February 5th. Finally, Piper Sandler reissued an “overweight” rating and set a $115.00 price target on shares of The Hartford Financial Services Group in a report on Monday, April 1st. Seven equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $105.56.

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.