Rhumbline Advisers Grows Stock Position in The Hartford Financial Services Group, Inc. (NYSE:HIG)

Rhumbline Advisers lifted its stake in shares of The Hartford Financial Services Group, Inc. (NYSE:HIG - Free Report) by 6.9% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 602,698 shares of the insurance provider's stock after purchasing an additional 38,942 shares during the quarter. Rhumbline Advisers owned about 0.21% of The Hartford Financial Services Group worth $74,572,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of HIG. Perigon Wealth Management LLC raised its stake in shares of The Hartford Financial Services Group by 6.1% during the fourth quarter. Perigon Wealth Management LLC now owns 2,829 shares of the insurance provider's stock worth $318,000 after purchasing an additional 163 shares during the last quarter. Mediolanum International Funds Ltd purchased a new stake in shares of The Hartford Financial Services Group during the fourth quarter worth approximately $825,000. Tokio Marine Asset Management Co. Ltd. raised its stake in shares of The Hartford Financial Services Group by 4.2% during the fourth quarter. Tokio Marine Asset Management Co. Ltd. now owns 8,532 shares of the insurance provider's stock worth $933,000 after purchasing an additional 342 shares during the last quarter. Financial Life Planners acquired a new position in The Hartford Financial Services Group during the fourth quarter worth $53,000. Finally, Longboard Asset Management LP acquired a new position in The Hartford Financial Services Group during the fourth quarter worth $227,000. Hedge funds and other institutional investors own 93.42% of the company's stock.

The Hartford Financial Services Group Price Performance

The Hartford Financial Services Group stock traded up $1.35 during trading hours on Friday, hitting $129.39. The stock had a trading volume of 1,115,140 shares, compared to its average volume of 1,582,793. 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 stock has a market capitalization 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 Hartford Financial Services Group, Inc. has a 1-year low of $98.16 and a 1-year high of $132.09. The stock's fifty day moving average is $123.40 and its two-hundred day moving average is $117.75.

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 for the quarter, compared to analyst estimates of $6.97 billion. The Hartford Financial Services Group had a return on equity of 19.55% and a net margin of 11.72%. The Hartford Financial Services Group's revenue was up 6.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.34 earnings per share. As a group, analysts predict that The Hartford Financial Services Group, Inc. will post 11.11 earnings per share for the current fiscal year.

The Hartford Financial Services Group Dividend Announcement

The business also recently disclosed 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 dividend yield of 1.61%. The ex-dividend date is Monday, June 2nd. The Hartford Financial Services Group's payout ratio is currently 20.74%.

Analysts Set New Price Targets

HIG has been the topic of a number of recent analyst reports. UBS Group upped their price objective on The Hartford Financial Services Group from $139.00 to $142.00 and gave the stock a "buy" rating in a report on Monday, April 28th. JPMorgan Chase & Co. upped their price objective on The Hartford Financial Services Group from $125.00 to $129.00 and gave the stock a "neutral" rating in a report on Tuesday, April 8th. Piper Sandler upped their price objective on The Hartford Financial Services Group from $130.00 to $145.00 and gave the stock an "overweight" rating in a report on Tuesday, April 1st. Wells Fargo & Company dropped 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 report on Thursday, April 10th. Finally, Morgan Stanley upped their price objective on The Hartford Financial Services Group from $115.00 to $130.00 and gave the stock an "equal weight" rating in a report on Monday, May 19th. Seven equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, The Hartford Financial Services Group presently has an average rating of "Moderate Buy" and an average target price of $129.71.

Insider Activity at The Hartford Financial Services Group

In related news, 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 transaction of $11,805,563.79. Following the sale, the chief executive officer now owns 211,082 shares of the company's stock, valued at $25,412,161.98. This trade represents a 31.72% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Allison G. Niderno sold 1,086 shares of the stock in a transaction on Monday, April 28th. The shares were sold at an average price of $119.42, for a total value of $129,690.12. Following the sale, the senior vice president now directly owns 622 shares in the company, valued at approximately $74,279.24. The trade was a 63.58% 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 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.