Freestone Grove Partners LP Acquires Shares of 422,954 The Hartford Financial Services Group, Inc. (NYSE:HIG)

Freestone Grove Partners LP acquired a new position in shares of The Hartford Financial Services Group, Inc. (NYSE:HIG - Free Report) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 422,954 shares of the insurance provider's stock, valued at approximately $46,271,000. Freestone Grove Partners LP owned approximately 0.15% of The Hartford Financial Services Group at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Thurston Springer Miller Herd & Titak Inc. lifted its holdings in The Hartford Financial Services Group by 3,342.9% during the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 241 shares of the insurance provider's stock valued at $26,000 after purchasing an additional 234 shares during the last quarter. Barrett & Company Inc. raised its stake in shares of The Hartford Financial Services Group by 46.5% in the fourth quarter. Barrett & Company Inc. now owns 293 shares of the insurance provider's stock valued at $32,000 after acquiring an additional 93 shares during the last quarter. DT Investment Partners LLC boosted its holdings in shares of The Hartford Financial Services Group by 49.8% in the 4th quarter. DT Investment Partners LLC now owns 331 shares of the insurance provider's stock worth $36,000 after acquiring an additional 110 shares in the last quarter. Flagship Wealth Advisors LLC bought a new stake in The Hartford Financial Services Group during the 4th quarter worth approximately $36,000. Finally, Key Financial Inc increased its holdings in The Hartford Financial Services Group by 526.3% during the 4th quarter. Key Financial Inc now owns 357 shares of the insurance provider's stock valued at $39,000 after purchasing an additional 300 shares in the last quarter. 93.42% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have recently commented on HIG. UBS Group increased their target price on The Hartford Financial Services Group from $139.00 to $142.00 and gave the stock a "buy" rating in a report on Monday, April 28th. StockNews.com upgraded shares of The Hartford Financial Services Group from a "hold" rating to a "buy" rating in a research report on Tuesday, April 29th. Royal Bank of Canada reiterated a "sector perform" rating and set a $125.00 target price on shares of The Hartford Financial Services Group in a research report on Monday, February 3rd. Piper Sandler raised their price target on shares of The Hartford Financial Services Group from $130.00 to $145.00 and gave the company an "overweight" rating in a report on Tuesday, April 1st. Finally, Raymond James upped their price objective on The Hartford Financial Services Group from $125.00 to $135.00 and gave the stock an "outperform" rating in a report on Monday, March 31st. Seven investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $126.87.

Insider Transactions at The Hartford Financial Services Group

In related news, CEO Christopher Swift sold 1,144 shares of the stock in a transaction that occurred on Wednesday, April 2nd. The stock was sold at an average price of $125.00, for a total transaction of $143,000.00. Following the completion of the transaction, the chief executive officer now directly owns 211,082 shares of the company's stock, valued at approximately $26,385,250. This represents a 0.54 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Allison G. Niderno sold 1,086 shares of the business's stock in a transaction that occurred on Monday, April 28th. The stock was sold at an average price of $119.42, for a total value of $129,690.12. Following the transaction, the senior vice president now directly owns 622 shares in the company, valued at $74,279.24. This trade represents a 63.58 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 113,429 shares of company stock valued at $13,618,028 over the last 90 days. 1.50% of the stock is owned by corporate insiders.

The Hartford Financial Services Group Stock Up 0.6 %

Shares of NYSE HIG traded up $0.72 during mid-day trading on Tuesday, reaching $126.43. 298,368 shares of the company's stock were exchanged, compared to its average volume of 1,566,770. 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 $118.79 and a 200 day simple moving average of $115.54. The Hartford Financial Services Group, Inc. has a twelve month low of $98.16 and a twelve month high of $126.77. The firm has a market capitalization of $35.92 billion, a price-to-earnings ratio of 12.22, a PEG ratio of 1.12 and a beta of 0.70.

The Hartford Financial Services Group (NYSE:HIG - Get Free Report) last issued its quarterly earnings data on Thursday, April 24th. The insurance provider reported $2.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.15 by $0.05. The company had revenue of $6.81 billion during the quarter, compared to the consensus estimate of $6.97 billion. The Hartford Financial Services Group had a net margin of 11.72% and a return on equity of 19.55%. The firm's revenue was up 6.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.34 earnings per share. As a group, equities analysts expect that The Hartford Financial Services Group, Inc. will post 11.11 EPS for the current fiscal year.

The Hartford Financial Services Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, April 2nd. Stockholders of record on Monday, March 3rd were issued a $0.52 dividend. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.65%. The Hartford Financial Services Group's dividend payout ratio (DPR) is presently 20.74%.

The Hartford Financial Services Group Company 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.