AlTi Global Inc. Invests $245,000 in The Hartford Financial Services Group, Inc. (NYSE:HIG)

AlTi Global Inc. purchased a new stake in shares of The Hartford Financial Services Group, Inc. (NYSE:HIG - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 2,230 shares of the insurance provider's stock, valued at approximately $245,000.

Several other institutional investors also recently bought and sold shares of HIG. Itau Unibanco Holding S.A. purchased a new position in The Hartford Financial Services Group in the 4th quarter worth approximately $35,000. Caisse DE Depot ET Placement DU Quebec boosted its stake in shares of The Hartford Financial Services Group by 19.7% in the fourth quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,119,320 shares of the insurance provider's stock valued at $122,454,000 after purchasing an additional 184,022 shares during the period. Freestone Grove Partners LP acquired a new stake in The Hartford Financial Services Group during the 4th quarter valued at $46,271,000. Guardian Capital LP increased its stake in The Hartford Financial Services Group by 1.2% during the 4th quarter. Guardian Capital LP now owns 146,584 shares of the insurance provider's stock worth $16,036,000 after buying an additional 1,740 shares during the period. Finally, Rehmann Capital Advisory Group lifted its holdings in The Hartford Financial Services Group by 2.6% in the 4th quarter. Rehmann Capital Advisory Group now owns 11,641 shares of the insurance provider's stock worth $1,274,000 after buying an additional 297 shares in the last quarter. 93.42% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other The Hartford Financial Services Group news, EVP Robert W. Paiano sold 13,138 shares of The Hartford Financial Services Group 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 sale, the executive vice president now owns 31,678 shares of the company's stock, valued at $3,712,661.60. The trade was a 29.32 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Christopher Swift sold 98,061 shares of the stock in a transaction on Monday, March 17th. The stock was sold at an average price of $120.39, for a total value of $11,805,563.79. Following the completion of the transaction, the chief executive officer now directly owns 211,082 shares of the company's stock, valued at approximately $25,412,161.98. The trade was a 31.72 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 113,429 shares of company stock valued at $13,618,028. Insiders own 1.50% of the company's stock.

Analyst Ratings Changes

HIG has been the topic of a number of analyst reports. UBS Group lifted their target price on The Hartford Financial Services Group from $139.00 to $142.00 and gave the stock a "buy" rating in a research report on Monday, April 28th. Piper Sandler upped their target price on The Hartford Financial Services Group from $130.00 to $145.00 and gave the company an "overweight" rating in a research report on Tuesday, April 1st. Barclays raised their price target on shares of The Hartford Financial Services Group from $140.00 to $145.00 and gave the stock an "overweight" rating in a research report on Friday, April 25th. Wells Fargo & Company cut their price target on shares of The Hartford Financial Services Group from $126.00 to $125.00 and set an "overweight" rating on the stock in a report on Thursday, April 10th. Finally, StockNews.com raised shares of The Hartford Financial Services Group from a "hold" rating to a "buy" rating in a report on Tuesday, April 29th. Seven research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, The Hartford Financial Services Group has an average rating of "Moderate Buy" and an average target price of $126.87.

The Hartford Financial Services Group Stock Performance

NYSE:HIG traded down $0.71 during midday trading on Friday, reaching $127.50. 1,350,259 shares of the company traded hands, compared to its average volume of 1,573,679. The Hartford Financial Services Group, Inc. has a twelve month low of $98.16 and a twelve month high of $129.55. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.32 and a quick ratio of 0.32. The company has a fifty day moving average price of $119.54 and a 200 day moving average price of $115.77. The firm has a market capitalization of $36.22 billion, a price-to-earnings ratio of 12.32, a price-to-earnings-growth ratio of 1.12 and a beta of 0.70.

The Hartford Financial Services Group (NYSE:HIG - Get Free Report) last announced its quarterly earnings results on Thursday, April 24th. The insurance provider reported $2.20 earnings per share (EPS) for the quarter, beating 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 company's revenue for the quarter was up 6.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.34 earnings per share. On average, 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 company also recently declared a quarterly dividend, which was paid on Wednesday, April 2nd. Shareholders of record on Monday, March 3rd were paid a $0.52 dividend. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $2.08 annualized dividend and a dividend yield of 1.63%. The Hartford Financial Services Group's payout ratio is currently 20.74%.

About The Hartford Financial Services Group

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.