The Hartford Financial Services Group, Inc. (NYSE:HIG) Shares Sold by Gofen & Glossberg LLC IL

Posted by on Mar 24th, 2023

Gofen & Glossberg LLC IL decreased its holdings in shares of The Hartford Financial Services Group, Inc. (NYSE:HIG – Get Rating) by 21.0% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,528 shares of the insurance provider’s stock after selling 939 shares during the quarter. Gofen & Glossberg LLC IL’s holdings in The Hartford Financial Services Group were worth $268,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in HIG. Price T Rowe Associates Inc. MD boosted its holdings in shares of The Hartford Financial Services Group by 7.8% during the third quarter. Price T Rowe Associates Inc. MD now owns 19,134,713 shares of the insurance provider’s stock worth $1,185,280,000 after purchasing an additional 1,383,232 shares during the last quarter. Nordea Investment Management AB boosted its holdings in shares of The Hartford Financial Services Group by 259.6% during the third quarter. Nordea Investment Management AB now owns 1,020,124 shares of the insurance provider’s stock worth $64,033,000 after purchasing an additional 736,462 shares during the last quarter. Renaissance Technologies LLC boosted its holdings in shares of The Hartford Financial Services Group by 722.9% during the first quarter. Renaissance Technologies LLC now owns 757,100 shares of the insurance provider’s stock worth $54,367,000 after purchasing an additional 665,100 shares during the last quarter. Assenagon Asset Management S.A. boosted its holdings in shares of The Hartford Financial Services Group by 278.1% during the third quarter. Assenagon Asset Management S.A. now owns 815,805 shares of the insurance provider’s stock worth $50,531,000 after purchasing an additional 600,034 shares during the last quarter. Finally, Wedge Capital Management L L P NC acquired a new stake in shares of The Hartford Financial Services Group during the third quarter worth $27,257,000. Institutional investors and hedge funds own 89.93% of the company’s stock.

Insider Transactions at The Hartford Financial Services Group

In other news, EVP Robert W. Paiano sold 14,542 shares of The Hartford Financial Services Group stock in a transaction dated Tuesday, February 21st. The stock was sold at an average price of $77.38, for a total transaction of $1,125,259.96. Following the sale, the executive vice president now directly owns 46,629 shares of the company’s stock, valued at $3,608,152.02. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, EVP Michael R. Fisher sold 4,916 shares of The Hartford Financial Services Group stock in a transaction dated Tuesday, January 3rd. The stock was sold at an average price of $75.69, for a total transaction of $372,092.04. Following the sale, the executive vice president now directly owns 5,287 shares of the company’s stock, valued at $400,173.03. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Robert W. Paiano sold 14,542 shares of The Hartford Financial Services Group stock in a transaction dated Tuesday, February 21st. The stock was sold at an average price of $77.38, for a total value of $1,125,259.96. Following the sale, the executive vice president now directly owns 46,629 shares in the company, valued at $3,608,152.02. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 101,167 shares of company stock valued at $7,872,898. 1.80% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on HIG shares. Royal Bank of Canada raised their price objective on The Hartford Financial Services Group from $75.00 to $77.00 and gave the stock a “sector perform” rating in a report on Monday, February 6th. Citigroup increased their target price on The Hartford Financial Services Group from $90.00 to $92.00 and gave the stock a “buy” rating in a research report on Wednesday, February 8th. Wells Fargo & Company increased their target price on The Hartford Financial Services Group from $85.00 to $88.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 18th. Piper Sandler increased their target price on The Hartford Financial Services Group from $83.00 to $96.00 and gave the stock an “overweight” rating in a research report on Monday, February 6th. Finally, The Goldman Sachs Group lowered The Hartford Financial Services Group from a “buy” rating to a “neutral” rating and set a $84.00 target price on the stock. in a research report on Monday, January 9th. Six research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $86.00.

The Hartford Financial Services Group Trading Down 2.0 %

NYSE:HIG opened at $65.79 on Friday. The business’s 50-day moving average is $74.76 and its two-hundred day moving average is $72.24. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.32 and a quick ratio of 0.32. The Hartford Financial Services Group, Inc. has a 12 month low of $60.17 and a 12 month high of $79.44. The firm has a market capitalization of $20.60 billion, a PE ratio of 12.07, a price-to-earnings-growth ratio of 1.15 and a beta of 0.87.

The Hartford Financial Services Group (NYSE:HIG – Get Rating) last released its quarterly earnings data on Friday, February 3rd. The insurance provider reported $2.31 EPS for the quarter, beating the consensus estimate of $1.86 by $0.45. The Hartford Financial Services Group had a return on equity of 18.15% and a net margin of 8.12%. The company had revenue of $6.02 billion for the quarter, compared to analyst estimates of $5.74 billion. During the same period last year, the company posted $2.02 earnings per share. The firm’s revenue was up 3.4% compared to the same quarter last year. Research analysts predict that The Hartford Financial Services Group, Inc. will post 8.35 earnings per share for the current fiscal year.

The Hartford Financial Services Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 4th. Stockholders of record on Monday, March 6th will be given a dividend of $0.425 per share. This represents a $1.70 dividend on an annualized basis and a dividend yield of 2.58%. The ex-dividend date of this dividend is Friday, March 3rd. The Hartford Financial Services Group’s payout ratio is 31.19%.

About The Hartford Financial Services Group

(Get Rating)

The Hartford Financial Services Group, Inc is an insurance and financial services company. It operates through the following segments: Commercial Lines, Personal Lines, Property & Casualty Other Operations, Group Benefits, Hartford Funds, and Corporate. The Commercial Lines segment provides workers’ compensation, property, automobile, liability and umbrella coverage under several different products.

Read More

Institutional Ownership by Quarter for The Hartford Financial Services Group (NYSE:HIG)

Receive News & Ratings for The Hartford Financial Services Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for The Hartford Financial Services Group and related companies with MarketBeat.com's FREE daily email newsletter.