Congress Wealth Management LLC DE Makes New Investment in The Hartford Financial Services Group, Inc. (NYSE:HIG)

Congress Wealth Management LLC DE purchased a new position in shares of The Hartford Financial Services Group, Inc. (NYSE:HIG - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 2,408 shares of the insurance provider's stock, valued at approximately $263,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Fisher Asset Management LLC purchased a new position in The Hartford Financial Services Group during the third quarter worth approximately $340,000. D.A. Davidson & CO. lifted its stake in shares of The Hartford Financial Services Group by 1.0% in the 3rd quarter. D.A. Davidson & CO. now owns 19,247 shares of the insurance provider's stock valued at $2,264,000 after purchasing an additional 199 shares during the last quarter. Townsquare Capital LLC grew its holdings in shares of The Hartford Financial Services Group by 33.3% during the 3rd quarter. Townsquare Capital LLC now owns 7,860 shares of the insurance provider's stock worth $924,000 after purchasing an additional 1,962 shares during the period. CreativeOne Wealth LLC increased its position in shares of The Hartford Financial Services Group by 328.8% during the 3rd quarter. CreativeOne Wealth LLC now owns 11,343 shares of the insurance provider's stock worth $1,334,000 after purchasing an additional 8,698 shares during the last quarter. Finally, Public Sector Pension Investment Board raised its holdings in The Hartford Financial Services Group by 2.0% in the 3rd quarter. Public Sector Pension Investment Board now owns 51,173 shares of the insurance provider's stock valued at $6,018,000 after buying an additional 1,000 shares during the period. 93.42% of the stock is currently owned by institutional investors and hedge funds.

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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 that occurred on Tuesday, March 11th. The shares were sold at an average price of $117.20, for a total value of $1,539,773.60. Following the transaction, the executive vice president now owns 31,678 shares in the company, valued at approximately $3,712,661.60. This trade represents a 29.32 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Christopher Swift sold 98,061 shares of the stock in a transaction on Monday, March 17th. The shares were sold at an average price of $120.39, for a total value of $11,805,563.79. Following the completion of the sale, the chief executive officer now owns 211,082 shares of the company's stock, valued at approximately $25,412,161.98. This represents a 31.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.60% of the company's stock.

The Hartford Financial Services Group Stock Performance

Shares of HIG stock traded up $1.51 during mid-day trading on Monday, hitting $123.73. The stock had a trading volume of 2,137,172 shares, compared to its average volume of 1,578,410. The firm has a market cap of $35.31 billion, a PE ratio of 11.95, a PEG ratio of 1.12 and a beta of 0.91. The Hartford Financial Services Group, Inc. has a fifty-two week low of $94.47 and a fifty-two week high of $124.90. The company's 50-day simple moving average is $115.52 and its 200-day simple moving average is $115.27. 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 released its quarterly earnings data on Thursday, January 30th. The insurance provider reported $2.94 EPS for the quarter, topping analysts' consensus estimates 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%. Sell-side 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 Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 2nd. Investors of record on Monday, March 3rd will be paid a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 1.68%. The ex-dividend date is Monday, March 3rd. The Hartford Financial Services Group's payout ratio is 20.10%.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on HIG shares. Barclays upgraded The Hartford Financial Services Group from an "equal weight" rating to an "overweight" rating and upped their price target for the stock from $130.00 to $135.00 in a research note on Monday, January 6th. Royal Bank of Canada restated a "sector perform" rating and set a $125.00 target price on shares of The Hartford Financial Services Group in a research note on Monday, February 3rd. StockNews.com cut shares of The Hartford Financial Services Group from a "buy" rating to a "hold" rating in a research report on Tuesday, March 18th. Wells Fargo & Company dropped their target price on 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. Finally, Keefe, Bruyette & Woods lifted their price target on The Hartford Financial Services Group from $139.00 to $140.00 and gave the stock an "outperform" rating in a report on Wednesday, February 5th. Ten analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $123.78.

The Hartford Financial Services Group Company Profile

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.