Franklin Resources Inc. Has $234.30 Million Stock Holdings in The Hartford Financial Services Group, Inc. (NYSE:HIG)

Franklin Resources Inc. decreased its position in shares of The Hartford Financial Services Group, Inc. (NYSE:HIG) by 2.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,141,700 shares of the insurance provider’s stock after selling 42,947 shares during the period. Franklin Resources Inc. owned 0.74% of The Hartford Financial Services Group worth $234,302,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Summit Financial LLC lifted its holdings in shares of The Hartford Financial Services Group by 17.8% during the 4th quarter. Summit Financial LLC now owns 6,839 shares of the insurance provider’s stock valued at $751,000 after buying an additional 1,033 shares during the last quarter. RWA Wealth Partners LLC acquired a new stake in The Hartford Financial Services Group in the fourth quarter valued at approximately $202,000. Schroder Investment Management Group grew its position in The Hartford Financial Services Group by 45.4% in the fourth quarter. Schroder Investment Management Group now owns 888,632 shares of the insurance provider’s stock worth $97,101,000 after acquiring an additional 277,379 shares in the last quarter. Intrust Bank NA increased its stake in shares of The Hartford Financial Services Group by 2.9% during the 4th quarter. Intrust Bank NA now owns 21,518 shares of the insurance provider’s stock worth $2,354,000 after purchasing an additional 604 shares during the last quarter. Finally, Allstate Corp bought a new position in shares of The Hartford Financial Services Group during the 4th quarter valued at $952,000. Hedge funds and other institutional investors own 93.42% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the stock. Wells Fargo & Company decreased their price objective on shares of The Hartford Financial Services Group from $130.00 to $126.00 and set an “overweight” rating for the company in a report on Monday, February 3rd. Piper Sandler increased their price objective on The Hartford Financial Services Group from $130.00 to $145.00 and gave the company an “overweight” rating in a report on Tuesday. Raymond James boosted their target price on The Hartford Financial Services Group from $125.00 to $135.00 and gave the stock an “outperform” rating in a report on Monday. Royal Bank of Canada reiterated a “sector perform” rating and set a $125.00 price target on shares of The Hartford Financial Services Group in a report on Monday, February 3rd. Finally, StockNews.com cut shares of The Hartford Financial Services Group from a “buy” rating to a “hold” rating in a research note on Tuesday, March 18th. Ten research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, The Hartford Financial Services Group currently has an average rating of “Moderate Buy” and an average price target of $124.61.

The Hartford Financial Services Group Stock Performance

Shares of NYSE HIG opened at $124.34 on Wednesday. The Hartford Financial Services Group, Inc. has a one year low of $94.47 and a one year high of $124.90. The company has a current ratio of 0.32, a quick ratio of 0.32 and a debt-to-equity ratio of 0.27. The business has a fifty day simple moving average of $116.00 and a 200 day simple moving average of $115.39. The firm has a market capitalization of $35.48 billion, a price-to-earnings ratio of 12.01, a PEG ratio of 1.12 and a beta of 0.91.

The Hartford Financial Services Group (NYSE:HIG) last released its quarterly earnings data 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 net margin of 11.72% and a return on equity of 19.55%. Sell-side analysts expect that The Hartford Financial Services Group, Inc. will post 11.11 EPS for the current year.

The Hartford Financial Services Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 2nd. Stockholders of record on Monday, March 3rd will be paid a $0.52 dividend. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $2.08 annualized dividend and a dividend yield of 1.67%. The Hartford Financial Services Group’s dividend payout ratio is currently 20.10%.

Insider Transactions at The Hartford Financial Services Group

In other news, CEO Christopher Swift sold 98,061 shares of the company’s stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $120.39, for a total value of $11,805,563.79. Following the sale, the chief executive officer now owns 211,082 shares of the company’s stock, valued at approximately $25,412,161.98. This represents a 31.72 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Robert W. Paiano sold 13,138 shares of The Hartford Financial Services Group stock in a transaction dated Tuesday, March 11th. The shares were sold at an average price of $117.20, for a total transaction of $1,539,773.60. Following the transaction, the executive vice president now directly owns 31,678 shares of the company’s stock, valued at $3,712,661.60. This represents a 29.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.60% of the stock is currently owned by insiders.

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.