Charles Schwab Investment Management Inc. Reduces Stock Holdings in The Hartford Financial Services Group, Inc. (NYSE:HIG)

Charles Schwab Investment Management Inc. lessened its holdings in shares of The Hartford Financial Services Group, Inc. (NYSE:HIG) by 0.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,874,329 shares of the insurance provider’s stock after selling 11,019 shares during the period. Charles Schwab Investment Management Inc. owned approximately 0.65% of The Hartford Financial Services Group worth $220,440,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in the business. CreativeOne Wealth LLC acquired a new stake in The Hartford Financial Services Group during the 1st quarter worth about $278,000. Canada Pension Plan Investment Board boosted its stake in shares of The Hartford Financial Services Group by 94.4% in the first quarter. Canada Pension Plan Investment Board now owns 195,017 shares of the insurance provider’s stock worth $20,097,000 after buying an additional 94,717 shares during the last quarter. LRI Investments LLC acquired a new stake in The Hartford Financial Services Group during the first quarter worth about $56,000. SVB Wealth LLC raised its position in The Hartford Financial Services Group by 4.1% during the first quarter. SVB Wealth LLC now owns 9,774 shares of the insurance provider’s stock valued at $1,007,000 after acquiring an additional 386 shares in the last quarter. Finally, Dynasty Wealth Management LLC purchased a new position in The Hartford Financial Services Group during the first quarter valued at approximately $643,000. Hedge funds and other institutional investors own 93.42% of the company’s stock.

The Hartford Financial Services Group Stock Performance

HIG opened at $120.72 on Friday. The firm has a market capitalization of $35.00 billion, a PE ratio of 12.10, a PEG ratio of 0.98 and a beta of 0.94. The company has a current ratio of 0.32, a quick ratio of 0.32 and a debt-to-equity ratio of 0.26. The Hartford Financial Services Group, Inc. has a twelve month low of $76.65 and a twelve month high of $123.23. The firm’s 50-day moving average price is $116.81 and its 200 day moving average price is $109.39.

The Hartford Financial Services Group Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 3rd. Investors of record on Monday, December 2nd will be issued a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 1.72%. The ex-dividend date of this dividend is Monday, December 2nd. This is a boost from The Hartford Financial Services Group’s previous quarterly dividend of $0.47. The Hartford Financial Services Group’s dividend payout ratio (DPR) is currently 18.84%.

Insider Buying and Selling

In other The Hartford Financial Services Group news, EVP Adin M. Tooker sold 6,865 shares of the company’s stock in a transaction on Friday, November 15th. The stock was sold at an average price of $117.04, for a total value of $803,479.60. Following the completion of the sale, the executive vice president now directly owns 25,820 shares in the company, valued at $3,021,972.80. This represents a 21.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 1.60% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

HIG has been the topic of a number of analyst reports. Piper Sandler raised their price objective on shares of The Hartford Financial Services Group from $112.00 to $125.00 and gave the stock an “overweight” rating in a research note on Monday, July 29th. Argus raised shares of The Hartford Financial Services Group to a “strong-buy” rating in a report on Friday, August 2nd. UBS Group increased their target price on shares of The Hartford Financial Services Group from $134.00 to $135.00 and gave the stock a “buy” rating in a research note on Tuesday, October 15th. Bank of America lifted their price target on The Hartford Financial Services Group from $121.00 to $124.00 and gave the company a “neutral” rating in a research note on Thursday, October 10th. Finally, Keefe, Bruyette & Woods increased their price target on The Hartford Financial Services Group from $133.00 to $135.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 29th. Nine research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, The Hartford Financial Services Group has an average rating of “Moderate Buy” and a consensus target price of $120.88.

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.