Rhumbline Advisers increased its position in The Hartford Financial Services Group, Inc. (NYSE:HIG - Free Report) by 6.9% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 602,698 shares of the insurance provider's stock after purchasing an additional 38,942 shares during the quarter. Rhumbline Advisers owned 0.21% of The Hartford Financial Services Group worth $74,572,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors and hedge funds have also made changes to their positions in the company. Catalyst Financial Partners LLC grew its position in shares of The Hartford Financial Services Group by 3.0% during the fourth quarter. Catalyst Financial Partners LLC now owns 3,079 shares of the insurance provider's stock worth $337,000 after buying an additional 90 shares in the last quarter. Barrett & Company Inc. grew its holdings in 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 worth $32,000 after acquiring an additional 93 shares in the last quarter. Wilmington Savings Fund Society FSB increased its position in shares of The Hartford Financial Services Group by 2.2% in the 4th quarter. Wilmington Savings Fund Society FSB now owns 4,468 shares of the insurance provider's stock worth $489,000 after purchasing an additional 97 shares during the last quarter. Smithfield Trust Co increased its position in shares of The Hartford Financial Services Group by 26.7% in the 4th quarter. Smithfield Trust Co now owns 475 shares of the insurance provider's stock worth $51,000 after purchasing an additional 100 shares during the last quarter. Finally, NorthCrest Asset Manangement LLC raised its stake in shares of The Hartford Financial Services Group by 0.8% in the 4th quarter. NorthCrest Asset Manangement LLC now owns 13,286 shares of the insurance provider's stock valued at $1,453,000 after purchasing an additional 105 shares in the last quarter. 93.42% of the stock is currently owned by hedge funds and other institutional investors.
The Hartford Financial Services Group Stock Performance
The Hartford Financial Services Group stock traded up $0.00 during midday trading on Thursday, reaching $127.94. 1,047,236 shares of the stock traded hands, compared to its average volume of 1,580,054. 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 company has a current ratio of 0.32, a quick ratio of 0.32 and a debt-to-equity ratio of 0.27. The firm has a market cap of $36.35 billion, a price-to-earnings ratio of 12.36, a PEG ratio of 1.12 and a beta of 0.70. The firm has a fifty day moving average price of $123.21 and a two-hundred day moving average price of $117.59.
The Hartford Financial Services Group (NYSE:HIG - Get Free Report) last issued its quarterly earnings data on Thursday, April 24th. The insurance provider reported $2.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.15 by $0.05. The business had revenue of $6.81 billion during the quarter, compared to the consensus estimate 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 business's revenue was up 6.1% on a year-over-year basis. During the same period in the previous year, the firm posted $2.34 earnings per share. On average, equities 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 Announces Dividend
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 1.63%. The ex-dividend date is Monday, June 2nd. The Hartford Financial Services Group's dividend payout ratio is currently 20.74%.
Insider Buying and Selling
In related news, EVP Robert W. Paiano sold 13,138 shares of the firm's stock in a transaction dated Tuesday, March 11th. The stock was sold at an average price of $117.20, for a total transaction of $1,539,773.60. Following the completion of the transaction, 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Christopher Swift sold 98,061 shares of the business's stock in a transaction dated 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 completion of 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 ownership of the stock. The disclosure for this sale can be found here. Insiders sold 113,429 shares of company stock valued at $13,618,028 over the last 90 days. 1.50% of the stock is currently owned by company insiders.
Analyst Upgrades and Downgrades
HIG has been the subject of a number of research reports. Wall Street Zen upgraded The Hartford Financial Services Group from a "hold" rating to a "buy" rating in a research note on Tuesday, May 20th. Raymond James boosted their price target on The Hartford Financial Services Group from $125.00 to $135.00 and gave the company an "outperform" rating in a report on Monday, March 31st. Morgan Stanley raised 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 research note on Monday, May 19th. Keefe, Bruyette & Woods lowered their target price on shares of 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. Finally, Piper Sandler raised their price target 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. Seven investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $129.71.
Get Our Latest Research Report on The Hartford Financial Services Group
About The Hartford Financial Services Group
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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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