City Center Advisors LLC Buys New Stake in The Hartford Financial Services Group, Inc. (NYSE:HIG)

City Center Advisors LLC bought a new stake in The Hartford Financial Services Group, Inc. (NYSE:HIG - Free Report) during the first quarter, according to its most recent disclosure with the SEC. The firm bought 2,100 shares of the insurance provider's stock, valued at approximately $260,000.

Other hedge funds have also recently modified their holdings of the company. Spurstone Advisory Services LLC purchased a new position in shares of The Hartford Financial Services Group in the 4th quarter valued at $33,000. Itau Unibanco Holding S.A. purchased a new position in shares of The Hartford Financial Services Group in the 4th quarter valued at $35,000. DT Investment Partners LLC grew its position 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 valued at $36,000 after buying an additional 110 shares during the last quarter. Flagship Wealth Advisors LLC purchased a new position in shares of The Hartford Financial Services Group in the 4th quarter valued at $36,000. Finally, Key Financial Inc grew its position in shares of The Hartford Financial Services Group by 526.3% in the 4th quarter. Key Financial Inc now owns 357 shares of the insurance provider's stock valued at $39,000 after buying an additional 300 shares during the last quarter. 93.42% of the stock is owned by hedge funds and other institutional investors.

The Hartford Financial Services Group Stock Up 1.1%

Shares of NYSE:HIG opened at $129.39 on Friday. The company has a market cap of $36.76 billion, a price-to-earnings ratio of 12.50, a PEG ratio of 1.12 and a beta of 0.71. The firm's 50-day simple moving average is $123.40 and its 200-day simple moving average is $117.74. The company has a quick ratio of 0.32, a current ratio of 0.32 and a debt-to-equity ratio of 0.27. The Hartford Financial Services Group, Inc. has a fifty-two week low of $98.16 and a fifty-two week high of $132.09.

The Hartford Financial Services Group (NYSE:HIG - Get Free Report) last issued its 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 business had revenue of $6.81 billion for 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 business's quarterly revenue was up 6.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.34 earnings per share. As a group, equities research analysts predict that The Hartford Financial Services Group, Inc. will post 11.11 earnings per share for the current year.

The Hartford Financial Services Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 2nd. Stockholders of record on Monday, June 2nd will be issued a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 1.61%. The ex-dividend date of this dividend is Monday, June 2nd. The Hartford Financial Services Group's payout ratio is 20.74%.

Insider Activity

In related news, SVP Allison G. Niderno sold 1,086 shares of the firm's stock in a transaction dated Monday, April 28th. The shares were sold at an average price of $119.42, for a total value of $129,690.12. Following the completion of the sale, the senior vice president now owns 622 shares in the company, valued at $74,279.24. This trade represents a 63.58% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Robert W. Paiano sold 13,138 shares of the firm's stock in a transaction dated Tuesday, March 11th. The shares were sold at an average price of $117.20, for a total transaction of $1,539,773.60. Following the completion of the sale, the executive vice president now owns 31,678 shares of the company's stock, valued at $3,712,661.60. This trade represents a 29.32% 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. Corporate insiders own 1.50% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the stock. Wall Street Zen raised shares of The Hartford Financial Services Group from a "hold" rating to a "buy" rating in a research report on Tuesday, May 20th. UBS Group raised their price objective on shares of 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. Wells Fargo & Company lowered their price objective on shares of The Hartford Financial Services Group from $126.00 to $125.00 and set an "overweight" rating on the stock in a research report on Thursday, April 10th. Piper Sandler raised their price objective on shares of The Hartford Financial Services Group from $130.00 to $145.00 and gave the stock an "overweight" rating in a research report on Tuesday, April 1st. Finally, Jefferies Financial Group lowered 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 report on Friday, April 11th. Seven analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, The Hartford Financial Services Group 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.

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