Challenger Wealth Management Purchases New Position in The Hartford Financial Services Group, Inc. (NYSE:HIG)

Challenger Wealth Management bought a new stake in The Hartford Financial Services Group, Inc. (NYSE:HIG - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 6,547 shares of the insurance provider's stock, valued at approximately $716,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Barrett & Company Inc. grew its holdings 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 worth $32,000 after purchasing an additional 93 shares during the last quarter. Spurstone Advisory Services LLC bought a new stake in The Hartford Financial Services Group in the fourth quarter valued at approximately $33,000. Itau Unibanco Holding S.A. bought a new stake in The Hartford Financial Services Group in the fourth quarter valued at approximately $35,000. DT Investment Partners LLC boosted its holdings 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 valued at $36,000 after acquiring an additional 110 shares during the last quarter. Finally, Flagship Wealth Advisors LLC bought a new stake in The Hartford Financial Services Group in the fourth quarter valued at approximately $36,000. Institutional investors own 93.42% of the company's stock.

Insiders Place Their Bets

In related news, CEO Christopher Swift sold 1,144 shares of The Hartford Financial Services Group 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 sale, the chief executive officer now directly owns 211,082 shares in the company, valued at $26,385,250. The trade was a 0.54% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Robert W. Paiano sold 13,138 shares of The Hartford Financial Services Group stock in a transaction that occurred on Tuesday, March 11th. The shares were sold at an average price of $117.20, for a total value of $1,539,773.60. Following the sale, the executive vice president now owns 31,678 shares in the company, valued at $3,712,661.60. This represents a 29.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 113,429 shares of company stock valued at $13,618,028 in the last ninety days. Company insiders own 1.50% of the company's stock.

The Hartford Financial Services Group Price Performance

NYSE HIG traded up $0.93 during trading hours on Thursday, hitting $130.15. The company had a trading volume of 1,288,258 shares, compared to its average volume of 1,572,186. The Hartford Financial Services Group, Inc. has a 52 week low of $98.16 and a 52 week high of $132.09. The firm has a 50 day simple moving average of $122.46 and a 200 day simple moving average of $117.17. 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 firm has a market capitalization of $36.98 billion, a price-to-earnings ratio of 12.57, a PEG ratio of 1.12 and a beta of 0.70.

The Hartford Financial Services Group (NYSE:HIG - Get Free Report) last released its quarterly earnings results on Thursday, April 24th. The insurance provider reported $2.20 earnings per share for the quarter, beating the consensus estimate of $2.15 by $0.05. The Hartford Financial Services Group had a return on equity of 19.55% and a net margin of 11.72%. The firm had revenue of $6.81 billion for the quarter, compared to analysts' expectations of $6.97 billion. During the same quarter last year, the firm posted $2.34 EPS. The company's revenue was up 6.1% compared to the same quarter last year. Equities research analysts expect 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 declared a quarterly dividend, which will be paid on Wednesday, July 2nd. Shareholders of record on Monday, June 2nd will be paid a $0.52 dividend. The ex-dividend date is Monday, June 2nd. This represents a $2.08 dividend on an annualized basis and a yield of 1.60%. The Hartford Financial Services Group's dividend payout ratio (DPR) is currently 20.74%.

Analyst Upgrades and Downgrades

Several brokerages recently commented on HIG. Morgan Stanley upped their target price on The Hartford Financial Services Group from $115.00 to $130.00 and gave the company an "equal weight" rating in a report on Monday, May 19th. Keefe, Bruyette & Woods dropped their price target on The Hartford Financial Services Group from $140.00 to $133.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 9th. Barclays boosted their price target on The Hartford Financial Services Group from $140.00 to $145.00 and gave the company an "overweight" rating in a research note on Friday, April 25th. Piper Sandler boosted their price target on The Hartford Financial Services Group from $130.00 to $145.00 and gave the company an "overweight" rating in a research note on Tuesday, April 1st. Finally, Royal Bank of Canada reissued a "sector perform" rating and issued a $125.00 price target on shares of The Hartford Financial Services Group in a research note on Monday, February 3rd. Seven equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $129.71.

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.