Virtu Financial LLC bought a new position in The Hartford Financial Services Group, Inc. (NYSE:HIG - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 5,678 shares of the insurance provider's stock, valued at approximately $621,000.
A number of other institutional investors have also modified their holdings of the stock. Catalyst Financial Partners LLC lifted its holdings in The Hartford Financial Services Group by 3.0% in the fourth quarter. Catalyst Financial Partners LLC now owns 3,079 shares of the insurance provider's stock worth $337,000 after acquiring an additional 90 shares during the last quarter. Barrett & Company Inc. raised its stake in shares of The Hartford Financial Services Group by 46.5% during the fourth quarter. Barrett & Company Inc. now owns 293 shares of the insurance provider's stock valued at $32,000 after purchasing an additional 93 shares in the last quarter. Brooklyn Investment Group grew its position in The Hartford Financial Services Group by 4.0% in the 3rd quarter. Brooklyn Investment Group now owns 2,444 shares of the insurance provider's stock valued at $287,000 after buying an additional 94 shares in the last quarter. Wilmington Savings Fund Society FSB increased its stake in The Hartford Financial Services Group by 2.2% during the 4th quarter. Wilmington Savings Fund Society FSB now owns 4,468 shares of the insurance provider's stock valued at $489,000 after buying an additional 97 shares during the period. Finally, Lifestyle Asset Management Inc. raised its position in shares of The Hartford Financial Services Group by 0.9% during the 4th quarter. Lifestyle Asset Management Inc. now owns 11,499 shares of the insurance provider's stock worth $1,258,000 after buying an additional 98 shares in the last quarter. Institutional investors and hedge funds own 93.42% of the company's stock.
Wall Street Analyst Weigh In
Several equities research analysts recently commented on the company. Royal Bank of Canada reissued a "sector perform" rating and set a $125.00 target price on shares of The Hartford Financial Services Group in a report on Monday, February 3rd. Barclays upgraded shares of The Hartford Financial Services Group from an "equal weight" rating to an "overweight" rating and raised their price objective for the company from $130.00 to $135.00 in a research report on Monday, January 6th. Wells Fargo & Company dropped their target price on shares of The Hartford Financial Services Group from $130.00 to $126.00 and set an "overweight" rating on the stock in a report on Monday, February 3rd. Piper Sandler upped their price target on The Hartford Financial Services Group from $127.00 to $130.00 and gave the company an "overweight" rating in a report on Monday, February 3rd. Finally, StockNews.com lowered The Hartford Financial Services Group from a "buy" rating to a "hold" rating in a research note on Tuesday, March 18th. Ten 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. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $122.94.
Read Our Latest Stock Analysis on The Hartford Financial Services Group
Insider Activity at The Hartford Financial Services Group
In related news, EVP Robert W. Paiano sold 13,138 shares of the firm's stock in a transaction 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 completion of the transaction, the executive vice president now directly 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 document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Christopher Swift sold 98,061 shares of the business's stock in a transaction on Monday, March 17th. The shares were 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 directly owns 211,082 shares in the company, valued at $25,412,161.98. This trade represents a 31.72 % decrease in their position. The disclosure for this sale can be found here. 1.60% of the stock is owned by corporate insiders.
The Hartford Financial Services Group Stock Performance
NYSE:HIG traded down $0.77 during mid-day trading on Friday, hitting $122.21. 1,324,792 shares of the company's stock traded hands, compared to its average volume of 1,576,175. 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 50 day moving average of $115.52 and a two-hundred day moving average of $115.26. The firm has a market capitalization of $34.88 billion, a price-to-earnings ratio of 11.81, a price-to-earnings-growth ratio of 1.12 and a beta of 0.91. The Hartford Financial Services Group, Inc. has a 12 month low of $94.47 and a 12 month high of $124.90.
The Hartford Financial Services Group (NYSE:HIG - Get Free Report) last announced its quarterly earnings data on Thursday, January 30th. The insurance provider reported $2.94 earnings per share (EPS) 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%. On average, equities analysts forecast 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, April 2nd. Stockholders of record on Monday, March 3rd will be given a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.70%. The ex-dividend date is Monday, March 3rd. The Hartford Financial Services Group's dividend payout ratio is currently 20.10%.
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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