Ameriprise Financial Inc. lifted its holdings in shares of The Hartford Financial Services Group, Inc. (NYSE:HIG - Free Report) by 48.1% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,264,397 shares of the insurance provider's stock after purchasing an additional 735,170 shares during the quarter. Ameriprise Financial Inc. owned about 0.78% of The Hartford Financial Services Group worth $247,761,000 as of its most recent filing with the SEC.
Several other large investors have also recently added to or reduced their stakes in the business. Thurston Springer Miller Herd & Titak Inc. boosted 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 purchasing an additional 234 shares in the last quarter. Barrett & Company Inc. increased its holdings in The Hartford Financial Services Group by 46.5% in the fourth quarter. Barrett & Company Inc. now owns 293 shares of the insurance provider's stock valued at $32,000 after buying an additional 93 shares in the last quarter. Itau Unibanco Holding S.A. acquired a new position in shares of The Hartford Financial Services Group during the 4th quarter worth $35,000. DT Investment Partners LLC boosted 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 worth $36,000 after buying an additional 110 shares in the last quarter. Finally, Flagship Wealth Advisors LLC acquired a new stake in The Hartford Financial Services Group in the 4th quarter valued at about $36,000. 93.42% of the stock is owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
Several research firms have recently issued reports on HIG. Keefe, Bruyette & Woods decreased their price objective on The Hartford Financial Services Group from $140.00 to $133.00 and set an "outperform" rating on the stock in a report on Wednesday, April 9th. Piper Sandler raised their target price on shares of The Hartford Financial Services Group from $130.00 to $145.00 and gave the company an "overweight" rating in a research note on Tuesday, April 1st. JPMorgan Chase & Co. upped their price target 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. Royal Bank of Canada reiterated a "sector perform" rating and issued a $125.00 target price on shares of The Hartford Financial Services Group in a research note on Monday, February 3rd. Finally, Raymond James boosted their price target on The Hartford Financial Services Group from $125.00 to $135.00 and gave the stock an "outperform" rating in a research report on Monday, March 31st. Seven 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 stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $126.87.
Get Our Latest Report on The Hartford Financial Services Group
Insiders Place Their Bets
In related news, EVP Robert W. Paiano sold 13,138 shares of the stock in a transaction that occurred on 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 sale, the executive vice president now owns 31,678 shares in the company, valued at $3,712,661.60. This represents a 29.32 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Allison G. Niderno sold 1,086 shares of the firm's 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. This trade represents a 63.58 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 113,429 shares of company stock worth $13,618,028. 1.50% of the stock is owned by insiders.
The Hartford Financial Services Group Price Performance
NYSE HIG opened at $125.83 on Tuesday. 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 company has a 50-day moving average price of $118.79 and a two-hundred day moving average price of $115.54. The stock has a market cap of $35.75 billion, a price-to-earnings ratio of 12.16, a price-to-earnings-growth ratio of 1.12 and a beta of 0.70. The Hartford Financial Services Group, Inc. has a 52 week low of $98.16 and a 52 week high of $126.52.
The Hartford Financial Services Group (NYSE:HIG - Get Free Report) last announced its earnings results on Thursday, April 24th. The insurance provider reported $2.20 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.15 by $0.05. The Hartford Financial Services Group had a net margin of 11.72% and a return on equity of 19.55%. The firm had revenue of $6.81 billion during the quarter, compared to analyst estimates of $6.97 billion. During the same quarter in the prior year, the firm posted $2.34 EPS. The Hartford Financial Services Group's revenue was up 6.1% compared to the same quarter last year. Analysts forecast that The Hartford Financial Services Group, Inc. will post 11.11 EPS for the current year.
The Hartford Financial Services Group Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 2nd. Shareholders of record on Monday, March 3rd were given a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 1.65%. The ex-dividend date was Monday, March 3rd. The Hartford Financial Services Group's dividend payout ratio (DPR) is presently 20.74%.
The Hartford Financial Services Group Company Profile
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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.
Further Reading
Want to see what other hedge funds are holding HIG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for The Hartford Financial Services Group, Inc. (NYSE:HIG - Free Report).
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