Vestcor Inc Has $527,000 Holdings in The Hartford Financial Services Group, Inc. (NYSE:HIG)

Vestcor Inc cut its holdings in shares of The Hartford Financial Services Group, Inc. (NYSE:HIG) by 21.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,817 shares of the insurance provider’s stock after selling 1,339 shares during the quarter. Vestcor Inc’s holdings in The Hartford Financial Services Group were worth $527,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of HIG. Thurston Springer Miller Herd & Titak Inc. lifted its holdings in shares of The Hartford Financial Services Group by 3,342.9% during the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 241 shares of the insurance provider’s stock worth $26,000 after buying an additional 234 shares during the last quarter. Barrett & Company Inc. increased its position in shares of The Hartford Financial Services Group by 46.5% during the fourth quarter. Barrett & Company Inc. now owns 293 shares of the insurance provider’s stock valued at $32,000 after purchasing an additional 93 shares during the period. BNP Paribas bought a new stake in shares of The Hartford Financial Services Group during the third quarter valued at approximately $35,000. DT Investment Partners LLC increased its position in shares of The Hartford Financial Services Group by 49.8% during the fourth quarter. DT Investment Partners LLC now owns 331 shares of the insurance provider’s stock valued at $36,000 after purchasing an additional 110 shares during the period. Finally, Key Financial Inc increased its position in shares of The Hartford Financial Services Group by 526.3% during the fourth quarter. Key Financial Inc now owns 357 shares of the insurance provider’s stock valued at $39,000 after purchasing an additional 300 shares during the period. 93.42% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, EVP Robert W. Paiano sold 13,138 shares of the company’s stock in a transaction on Tuesday, March 11th. The stock was 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 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 sale was disclosed in a legal filing with the SEC, which is available through this link. 1.60% of the stock is currently owned by insiders.

The Hartford Financial Services Group Price Performance

Shares of HIG stock opened at $119.06 on Monday. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.32 and a current ratio of 0.32. The Hartford Financial Services Group, Inc. has a 52 week low of $94.47 and a 52 week high of $124.90. The stock has a market capitalization of $33.98 billion, a PE ratio of 11.50, a PEG ratio of 1.12 and a beta of 0.91. The stock’s fifty day moving average is $113.25 and its 200-day moving average is $114.91.

The Hartford Financial Services Group (NYSE:HIG) last issued its quarterly earnings results on Thursday, January 30th. The insurance provider reported $2.94 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.68 by $0.26. The Hartford Financial Services Group had a return on equity of 19.55% and a net margin of 11.72%. Equities research analysts expect that The Hartford Financial Services Group, Inc. will post 11.11 EPS for the current fiscal year.

The Hartford Financial Services Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 2nd. Stockholders of record on Monday, March 3rd will be paid a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 1.75%. The ex-dividend date is Monday, March 3rd. The Hartford Financial Services Group’s dividend payout ratio (DPR) is presently 20.10%.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on HIG shares. Royal Bank of Canada restated a “sector perform” rating and set a $125.00 price objective on shares of The Hartford Financial Services Group in a research report on Monday, February 3rd. Piper Sandler boosted their price objective on The Hartford Financial Services Group from $127.00 to $130.00 and gave the company an “overweight” rating in a research report on Monday, February 3rd. Wells Fargo & Company lowered their price objective on The Hartford Financial Services Group from $130.00 to $126.00 and set an “overweight” rating on the stock in a research report on Monday, February 3rd. BMO Capital Markets upped their price target on The Hartford Financial Services Group from $100.00 to $141.00 and gave the company a “market perform” rating in a research report on Wednesday, November 27th. Finally, Keefe, Bruyette & Woods upped their price target on The Hartford Financial Services Group from $139.00 to $140.00 and gave the company an “outperform” rating in a research report on Wednesday, February 5th. Nine investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, The Hartford Financial Services Group currently has a consensus rating of “Moderate Buy” and a consensus price target of $122.94.

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.