Federated Hermes Inc. Raises Holdings in The Hartford Financial Services Group, Inc. (NYSE:HIG)

Federated Hermes Inc. boosted its position in shares of The Hartford Financial Services Group, Inc. (NYSE:HIG - Free Report) by 9.4% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 266,622 shares of the insurance provider's stock after buying an additional 22,983 shares during the quarter. Federated Hermes Inc. owned approximately 0.09% of The Hartford Financial Services Group worth $29,168,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Horizon Advisory Services Inc. purchased a new position in The Hartford Financial Services Group during the fourth quarter worth approximately $277,000. Assenagon Asset Management S.A. lifted its position in shares of The Hartford Financial Services Group by 437.9% during the 4th quarter. Assenagon Asset Management S.A. now owns 871,318 shares of the insurance provider's stock valued at $95,322,000 after buying an additional 709,324 shares in the last quarter. Victory Capital Management Inc. grew its stake 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 acquiring an additional 202,487 shares during the period. Suncoast Equity Management acquired a new position in shares of The Hartford Financial Services Group during the 4th quarter worth about $311,000. Finally, Empowered Funds LLC lifted its position in shares of The Hartford Financial Services Group by 62.1% in the fourth quarter. Empowered Funds LLC now owns 28,622 shares of the insurance provider's stock valued at $3,131,000 after acquiring an additional 10,964 shares in the last quarter. Hedge funds and other institutional investors own 93.42% of the company's stock.

Analyst Ratings Changes

Several analysts recently issued reports on the stock. Raymond James upped their price objective on shares of The Hartford Financial Services Group from $125.00 to $135.00 and gave the company an "outperform" rating in a research note on Monday, March 31st. Barclays lifted their target price on shares of The Hartford Financial Services Group from $135.00 to $140.00 and gave the stock an "overweight" rating in a research note on Friday. JPMorgan Chase & Co. increased their price target on shares of The Hartford Financial Services Group from $125.00 to $129.00 and gave the company a "neutral" rating in a research note on Tuesday, April 8th. Royal Bank of Canada reaffirmed 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. Finally, Piper Sandler upped their price objective on The Hartford Financial Services Group from $130.00 to $145.00 and gave the company an "overweight" rating in a report on Tuesday, April 1st. Nine analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $124.13.

The Hartford Financial Services Group Stock Up 2.3 %

NYSE:HIG traded up $2.65 during mid-day trading on Monday, hitting $118.70. The stock had a trading volume of 148,328 shares, compared to its average volume of 1,582,149. The Hartford Financial Services Group, Inc. has a twelve month low of $94.47 and a twelve month high of $125.08. The stock has a 50-day simple moving average of $116.60 and a two-hundred day simple moving average of $115.32. The company has a market capitalization of $33.88 billion, a PE ratio of 11.47, a PEG ratio of 1.12 and a beta of 0.68. 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 Hartford Financial Services Group (NYSE:HIG - Get Free Report) last posted 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 return on equity of 19.55% and a net margin of 11.72%. On average, equities research analysts anticipate that The Hartford Financial Services Group, Inc. will post 11.11 EPS for the current year.

The Hartford Financial Services Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 2nd. Shareholders of record on Monday, March 3rd were paid a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 1.75%. The ex-dividend date of this dividend was Monday, March 3rd. The Hartford Financial Services Group's dividend payout ratio is currently 20.10%.

Insider Activity at The Hartford Financial Services Group

In other news, EVP Robert W. Paiano sold 13,138 shares of the stock in a transaction dated Tuesday, March 11th. The shares were 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 approximately $3,712,661.60. This represents a 29.32 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Christopher Swift sold 98,061 shares of the business's stock in a transaction dated 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 transaction, the chief executive officer now 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. Insiders sold a total of 112,343 shares of company stock worth $13,488,337 in the last 90 days. 1.60% of the stock is owned by insiders.

The Hartford Financial Services Group 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.