Carret Asset Management LLC Has $5.36 Million Holdings in The Hartford Financial Services Group, Inc. (NYSE:HIG)

Carret Asset Management LLC lessened its stake in The Hartford Financial Services Group, Inc. (NYSE:HIG) by 0.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 66,624 shares of the insurance provider’s stock after selling 485 shares during the quarter. Carret Asset Management LLC’s holdings in The Hartford Financial Services Group were worth $5,355,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of the business. GAMMA Investing LLC acquired a new position in The Hartford Financial Services Group during the fourth quarter worth about $477,000. Illinois Municipal Retirement Fund raised its stake in The Hartford Financial Services Group by 12.8% during the fourth quarter. Illinois Municipal Retirement Fund now owns 180,374 shares of the insurance provider’s stock worth $14,498,000 after acquiring an additional 20,462 shares in the last quarter. Foster & Motley Inc. raised its stake in The Hartford Financial Services Group by 6.6% during the fourth quarter. Foster & Motley Inc. now owns 104,690 shares of the insurance provider’s stock worth $8,415,000 after acquiring an additional 6,476 shares in the last quarter. MCF Advisors LLC raised its stake in The Hartford Financial Services Group by 20.6% during the fourth quarter. MCF Advisors LLC now owns 3,280 shares of the insurance provider’s stock worth $265,000 after acquiring an additional 561 shares in the last quarter. Finally, Commerzbank Aktiengesellschaft FI acquired a new position in The Hartford Financial Services Group during the fourth quarter worth about $227,000. Institutional investors and hedge funds own 93.42% of the company’s stock.

Analyst Ratings Changes

Several research analysts have commented on the company. Evercore ISI boosted their target price on The Hartford Financial Services Group from $96.00 to $104.00 and gave the stock an “in-line” rating in a research note on Thursday, April 11th. The Goldman Sachs Group boosted their price target on The Hartford Financial Services Group from $92.00 to $105.00 and gave the stock a “buy” rating in a report on Friday, April 12th. Wells Fargo & Company boosted their price target on The Hartford Financial Services Group from $106.00 to $117.00 and gave the stock an “overweight” rating in a report on Thursday, April 11th. Piper Sandler restated 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. Finally, JPMorgan Chase & Co. boosted their price target on The Hartford Financial Services Group from $91.00 to $104.00 and gave the stock a “neutral” rating in a report on Monday, April 8th. Seven research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $105.56.

Insiders Place Their Bets

In other news, EVP Michael R. Fisher sold 27,004 shares of the company’s stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $98.90, for a total transaction of $2,670,695.60. Following the transaction, the executive vice president now directly owns 18,906 shares of the company’s stock, valued at $1,869,803.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, EVP Robert W. Paiano sold 14,528 shares of the company’s stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $93.97, for a total transaction of $1,365,196.16. Following the transaction, the executive vice president now directly owns 46,792 shares of the company’s stock, valued at $4,397,044.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Michael R. Fisher sold 27,004 shares of the company’s stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $98.90, for a total value of $2,670,695.60. Following the transaction, the executive vice president now directly owns 18,906 shares in the company, valued at $1,869,803.40. The disclosure for this sale can be found here. In the last three months, insiders have sold 106,501 shares of company stock worth $10,141,126. Corporate insiders own 1.60% of the company’s stock.

The Hartford Financial Services Group Trading Down 0.2 %

Shares of The Hartford Financial Services Group stock traded down $0.17 on Wednesday, reaching $99.86. 1,871,304 shares of the company’s stock were exchanged, compared to its average volume of 1,797,402. The company has a market capitalization of $29.69 billion, a P/E ratio of 12.50, a price-to-earnings-growth ratio of 1.41 and a beta of 0.89. The Hartford Financial Services Group, Inc. has a 52 week low of $67.05 and a 52 week high of $103.64. The firm’s 50-day moving average is $98.16 and its two-hundred day moving average is $85.88. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.32 and a current ratio of 0.32.

The Hartford Financial Services Group (NYSE:HIG) last posted its quarterly earnings results on Friday, February 2nd. The insurance provider reported $3.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.44 by $0.62. The firm had revenue of $6.40 billion for the quarter, compared to analysts’ expectations of $5.84 billion. The Hartford Financial Services Group had a return on equity of 19.82% and a net margin of 10.21%. The company’s revenue for the quarter was up 6.4% compared to the same quarter last year. During the same period in the prior year, the business earned $2.31 EPS. Sell-side analysts predict that The Hartford Financial Services Group, Inc. will post 10.13 EPS for the current fiscal year.

The Hartford Financial Services Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 2nd. Shareholders 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 of this dividend was Friday, March 1st. The Hartford Financial Services Group’s payout ratio is 23.53%.

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.