ProShare Advisors LLC Raises Stock Holdings in The Hartford Financial Services Group, Inc. (NYSE:HIG)

ProShare Advisors LLC raised its stake in shares of The Hartford Financial Services Group, Inc. (NYSE:HIG - Free Report) by 5.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 77,511 shares of the insurance provider's stock after buying an additional 4,325 shares during the period. ProShare Advisors LLC's holdings in The Hartford Financial Services Group were worth $8,480,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of HIG. Thurston Springer Miller Herd & Titak Inc. lifted its holdings in The Hartford Financial Services Group by 3,342.9% in the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 241 shares of the insurance provider's stock valued at $26,000 after acquiring an additional 234 shares during the period. Barrett & Company Inc. increased 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 purchasing an additional 93 shares during the last quarter. Itau Unibanco Holding S.A. purchased a new stake in shares of The Hartford Financial Services Group during the 4th quarter valued at about $35,000. DT Investment Partners LLC lifted its stake 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 purchasing an additional 110 shares during the period. Finally, Flagship Wealth Advisors LLC purchased a new position in shares of The Hartford Financial Services Group in the fourth quarter worth approximately $36,000. 93.42% of the stock is currently owned by hedge funds and other institutional investors.

The Hartford Financial Services Group Price Performance

HIG traded down $1.55 during trading on Wednesday, reaching $129.66. 1,681,114 shares of the company traded hands, compared to its average volume of 1,569,253. The company has a market cap of $36.84 billion, a P/E ratio of 12.53, a PEG ratio of 1.12 and a beta of 0.70. 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 Hartford Financial Services Group, Inc. has a 12-month low of $98.16 and a 12-month high of $132.09. The firm has a fifty day simple moving average of $121.27 and a 200 day simple moving average of $116.57.

The Hartford Financial Services Group (NYSE:HIG - Get Free Report) last posted 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 company had revenue of $6.81 billion during the quarter, compared to analysts' expectations 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 Hartford Financial Services Group's quarterly revenue was up 6.1% on a year-over-year basis. During the same period last year, the company posted $2.34 earnings per share. On average, equities analysts forecast that The Hartford Financial Services Group, Inc. will post 11.11 EPS for the current year.

The Hartford Financial Services Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 2nd. Investors of record on Monday, June 2nd will be paid a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 1.60%. The Hartford Financial Services Group's payout ratio is presently 20.74%.

Insider Buying and Selling at The Hartford Financial Services Group

In related news, SVP Allison G. Niderno sold 1,086 shares of the stock in a transaction on Monday, April 28th. The stock was sold at an average price of $119.42, for a total transaction of $129,690.12. Following the sale, the senior vice president now owns 622 shares in the company, valued at approximately $74,279.24. This represents a 63.58% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Christopher Swift sold 98,061 shares of The Hartford Financial Services Group stock in a transaction 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 transaction, the chief executive officer now directly owns 211,082 shares of the company's stock, valued at $25,412,161.98. The trade was a 31.72% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 113,429 shares of company stock worth $13,618,028 in the last quarter. 1.60% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. Royal Bank of Canada reaffirmed a "sector perform" rating and set a $125.00 target price on shares of The Hartford Financial Services Group in a report on Monday, February 3rd. StockNews.com upgraded The Hartford Financial Services Group from a "hold" rating to a "buy" rating in a research note on Tuesday. Piper Sandler lifted 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. JPMorgan Chase & Co. boosted their price target on 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. Finally, Wells Fargo & Company decreased their price objective on The Hartford Financial Services Group from $126.00 to $125.00 and set an "overweight" rating on the stock in a research note on Thursday, April 10th. Seven investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, The Hartford Financial Services Group currently has a consensus rating of "Moderate Buy" and a consensus price target of $129.71.

The Hartford Financial Services Group 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.