Wealth Enhancement Advisory Services LLC raised its stake in shares of The Hartford Financial Services Group, Inc. (NYSE:HIG - Free Report) by 37.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 101,634 shares of the insurance provider's stock after purchasing an additional 27,464 shares during the quarter. Wealth Enhancement Advisory Services LLC's holdings in The Hartford Financial Services Group were worth $11,119,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds and other institutional investors have also bought and sold shares of HIG. PFG Investments LLC boosted its stake in shares of The Hartford Financial Services Group by 8.6% in the 4th quarter. PFG Investments LLC now owns 2,858 shares of the insurance provider's stock valued at $313,000 after purchasing an additional 227 shares in the last quarter. Perigon Wealth Management LLC boosted its holdings in The Hartford Financial Services Group by 6.1% during the 4th quarter. Perigon Wealth Management LLC now owns 2,829 shares of the insurance provider's stock valued at $318,000 after acquiring an additional 163 shares during the period. OLD National Bancorp IN grew its position in The Hartford Financial Services Group by 6.7% during the 4th quarter. OLD National Bancorp IN now owns 3,657 shares of the insurance provider's stock worth $400,000 after acquiring an additional 229 shares during the last quarter. Mediolanum International Funds Ltd purchased a new position in The Hartford Financial Services Group in the 4th quarter worth approximately $825,000. Finally, Caprock Group LLC bought a new stake in The Hartford Financial Services Group in the fourth quarter valued at approximately $4,341,000. Hedge funds and other institutional investors own 93.42% of the company's stock.
Wall Street Analyst Weigh In
Several brokerages have weighed in on HIG. Royal Bank of Canada reissued a "sector perform" rating and set a $125.00 price target on shares of The Hartford Financial Services Group in a research report on Monday, February 3rd. UBS Group increased 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. Keefe, Bruyette & Woods dropped their price target on 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. Piper Sandler boosted their price objective on shares of 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. Finally, JPMorgan Chase & Co. raised their target price on shares of The Hartford Financial Services Group from $125.00 to $129.00 and gave the stock a "neutral" rating in a research report on Tuesday, April 8th. 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 data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $129.71.
Get Our Latest Report on The Hartford Financial Services Group
Insider Activity at The Hartford Financial Services Group
In other news, SVP Allison G. Niderno sold 1,086 shares of The Hartford Financial Services Group stock in a transaction that occurred 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 completion of the sale, the senior vice president now directly owns 622 shares in the company, valued at $74,279.24. The trade was a 63.58% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Christopher Swift sold 1,144 shares of the business's stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $125.00, for a total transaction of $143,000.00. Following the sale, the chief executive officer now owns 211,082 shares of the company's stock, valued at approximately $26,385,250. This represents a 0.54% 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. Corporate insiders own 1.50% of the company's stock.
The Hartford Financial Services Group Stock Down 0.0%
HIG stock traded down $0.01 on Monday, reaching $129.83. 1,265,433 shares of the company traded hands, compared to its average volume of 1,581,470. The firm has a fifty day simple moving average of $122.81 and a 200-day simple moving average of $117.35. The company has a market cap of $36.88 billion, a P/E ratio of 12.54, a price-to-earnings-growth ratio of 1.12 and a beta of 0.70. The Hartford Financial Services Group, Inc. has a one year low of $98.16 and a one year high of $132.09. 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 Hartford Financial Services Group (NYSE:HIG - Get Free Report) last issued 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 firm 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 company's revenue was up 6.1% on a year-over-year basis. During the same period last year, the company earned $2.34 earnings per share. Research analysts anticipate 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 paid a $0.52 dividend. The ex-dividend date is Monday, June 2nd. This represents a $2.08 annualized dividend and a dividend yield of 1.60%. The Hartford Financial Services Group's dividend payout ratio is presently 20.74%.
About The Hartford Financial Services Group
(
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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