Quantbot Technologies LP purchased a new position in shares of The Hartford Financial Services Group, Inc. (NYSE:HIG - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 15,888 shares of the insurance provider's stock, valued at approximately $1,738,000.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Victory Capital Management Inc. grew its holdings in The Hartford Financial Services Group by 4.5% in the 4th quarter. Victory Capital Management Inc. now owns 4,701,675 shares of the insurance provider's stock valued at $514,363,000 after buying an additional 202,487 shares during the period. Nordea Investment Management AB raised its holdings in shares of The Hartford Financial Services Group by 17.3% in the 4th quarter. Nordea Investment Management AB now owns 3,938,421 shares of the insurance provider's stock worth $430,272,000 after purchasing an additional 581,103 shares during the period. Charles Schwab Investment Management Inc. lifted its position in The Hartford Financial Services Group by 2.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,913,914 shares of the insurance provider's stock valued at $209,382,000 after buying an additional 39,585 shares in the last quarter. Bahl & Gaynor Inc. increased its holdings in The Hartford Financial Services Group by 8.5% in the 4th quarter. Bahl & Gaynor Inc. now owns 1,457,147 shares of the insurance provider's stock valued at $159,412,000 after purchasing an additional 114,716 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. increased its position in shares of The Hartford Financial Services Group by 2.9% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 1,234,480 shares of the insurance provider's stock worth $135,052,000 after acquiring an additional 34,938 shares during the last quarter. Hedge funds and other institutional investors own 93.42% of the company's stock.
Analyst Ratings Changes
A number of brokerages have issued reports on HIG. Piper Sandler upped their target price on The Hartford Financial Services Group from $127.00 to $130.00 and gave the company an "overweight" rating in a research report on Monday, February 3rd. Keefe, Bruyette & Woods upped their price target on shares of The Hartford Financial Services Group from $139.00 to $140.00 and gave the company an "outperform" rating in a report on Wednesday, February 5th. Wells Fargo & Company lowered their price objective on The Hartford Financial Services Group from $130.00 to $126.00 and set an "overweight" rating for the company in a report on Monday, February 3rd. StockNews.com downgraded The Hartford Financial Services Group from a "buy" rating to a "hold" rating in a report on Tuesday, March 18th. Finally, Barclays upgraded shares of The Hartford Financial Services Group from an "equal weight" rating to an "overweight" rating and raised their price target for the stock from $130.00 to $135.00 in a research report on Monday, January 6th. Ten equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $122.94.
Get Our Latest Stock Report on HIG
Insider Activity at The Hartford Financial Services Group
In other The Hartford Financial Services Group news, EVP Robert W. Paiano sold 13,138 shares of the firm's stock in a transaction that occurred on Tuesday, March 11th. The stock was sold at an average price of $117.20, for a total value of $1,539,773.60. Following the sale, 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 position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Christopher Swift sold 98,061 shares of the company's stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $120.39, for a total value of $11,805,563.79. Following the transaction, the chief executive officer now owns 211,082 shares of the company's stock, 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. 1.60% of the stock is owned by company insiders.
The Hartford Financial Services Group Price Performance
Shares of NYSE HIG traded down $0.77 during trading on Friday, hitting $122.21. The company had a trading volume of 1,324,792 shares, compared to its average volume of 1,576,175. The Hartford Financial Services Group, Inc. has a 52 week low of $94.47 and a 52 week high of $124.90. The business's 50-day moving average is $115.31 and its 200 day moving average is $115.23. The company has a market cap of $34.88 billion, a P/E ratio of 11.81, a PEG ratio of 1.12 and a beta of 0.91. 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 (NYSE:HIG - Get Free Report) last released its earnings results on Thursday, January 30th. The insurance provider reported $2.94 earnings per share for the quarter, topping the consensus estimate of $2.68 by $0.26. The Hartford Financial Services Group had a net margin of 11.72% and a return on equity of 19.55%. Equities research 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 Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 2nd. Investors of record on Monday, March 3rd will be given a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 1.70%. The ex-dividend date of this dividend is Monday, March 3rd. The Hartford Financial Services Group's payout ratio is presently 20.10%.
The Hartford Financial Services Group 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.
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