AlTi Global Inc. acquired a new stake in shares of The Hartford Financial Services Group, Inc. (NYSE:HIG - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor acquired 2,230 shares of the insurance provider's stock, valued at approximately $245,000.
A number of other hedge funds also recently bought and sold shares of HIG. Thurston Springer Miller Herd & Titak Inc. boosted its holdings in The Hartford Financial Services Group by 3,342.9% in 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 position in shares of The Hartford Financial Services Group by 46.5% during the 4th quarter. Barrett & Company Inc. now owns 293 shares of the insurance provider's stock valued at $32,000 after buying an additional 93 shares during the period. Itau Unibanco Holding S.A. acquired a new position in The Hartford Financial Services Group in the fourth quarter valued at approximately $35,000. DT Investment Partners LLC grew its position in The Hartford Financial Services Group by 49.8% in the fourth quarter. DT Investment Partners LLC now owns 331 shares of the insurance provider's stock worth $36,000 after acquiring an additional 110 shares during the period. Finally, Flagship Wealth Advisors LLC purchased a new stake in The Hartford Financial Services Group in the fourth quarter valued at $36,000. Institutional investors and hedge funds own 93.42% of the company's stock.
Insider Activity at The Hartford Financial Services Group
In related news, SVP Allison G. Niderno sold 1,086 shares of the company's stock in a transaction that occurred on Monday, April 28th. The shares were sold at an average price of $119.42, for a total transaction of $129,690.12. Following the transaction, the senior vice president now owns 622 shares of the company's stock, valued at approximately $74,279.24. This represents a 63.58 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Christopher Swift sold 98,061 shares of the firm's stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $120.39, for a total transaction of $11,805,563.79. Following the sale, the chief executive officer now owns 211,082 shares in the company, valued at approximately $25,412,161.98. This trade represents a 31.72 % 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 quarter. Insiders own 1.50% of the company's stock.
The Hartford Financial Services Group Price Performance
Shares of NYSE:HIG traded down $0.71 during midday trading on Friday, hitting $127.50. 1,334,148 shares of the stock were exchanged, compared to its average volume of 1,572,676. The stock has a market cap of $36.22 billion, a P/E ratio of 12.32, a PEG ratio of 1.12 and a beta of 0.70. 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 50 day moving average price of $119.33 and a 200-day moving average price of $115.75. 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 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 Hartford Financial Services Group had a net margin of 11.72% and a return on equity of 19.55%. The company had revenue of $6.81 billion for the quarter, compared to the consensus estimate of $6.97 billion. During the same quarter in the prior year, the firm earned $2.34 earnings per share. The company's revenue for the quarter was up 6.1% compared to the same quarter last year. On average, research analysts forecast that The Hartford Financial Services Group, Inc. will post 11.11 earnings per share for the current year.
The Hartford Financial Services Group Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 2nd. Stockholders of record on Monday, March 3rd were given 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 dividend payout ratio is currently 20.74%.
Analyst Ratings Changes
A number of equities analysts have recently commented on HIG shares. JPMorgan Chase & Co. lifted their target price on shares of The Hartford Financial Services Group from $125.00 to $129.00 and gave the company a "neutral" rating in a report on Tuesday, April 8th. Keefe, Bruyette & Woods cut their price target on The Hartford Financial Services Group from $140.00 to $133.00 and set an "outperform" rating for the company in a research note on Wednesday, April 9th. Jefferies Financial Group dropped their price objective on shares of The Hartford Financial Services Group from $118.00 to $117.00 and set a "hold" rating on the stock in a research note on Friday, April 11th. UBS Group raised their target price on shares of The Hartford Financial Services Group from $139.00 to $142.00 and gave the stock a "buy" rating in a research note on Monday, April 28th. Finally, Raymond James boosted their price target on shares of The Hartford Financial Services Group from $125.00 to $135.00 and gave the stock an "outperform" rating in a research note on Monday, March 31st. Seven equities 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 stock. According to MarketBeat.com, The Hartford Financial Services Group presently has a consensus rating of "Moderate Buy" and an average price target of $126.87.
Get Our Latest Research Report on HIG
About The Hartford Financial Services Group
(
Free Report)
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.
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