Pictet Asset Management Holding SA Grows Stock Position in The Hartford Financial Services Group, Inc. (NYSE:HIG)

Pictet Asset Management Holding SA increased its holdings in The Hartford Financial Services Group, Inc. (NYSE:HIG - Free Report) by 4.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 383,830 shares of the insurance provider's stock after acquiring an additional 15,287 shares during the quarter. Pictet Asset Management Holding SA owned about 0.13% of The Hartford Financial Services Group worth $41,991,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in the stock. Nomura Asset Management Co. Ltd. raised its stake in The Hartford Financial Services Group by 39.7% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 123,041 shares of the insurance provider's stock worth $13,461,000 after buying an additional 34,957 shares in the last quarter. New Age Alpha Advisors LLC boosted its stake in The Hartford Financial Services Group by 3,110.5% during the fourth quarter. New Age Alpha Advisors LLC now owns 4,880 shares of the insurance provider's stock worth $534,000 after acquiring an additional 4,728 shares in the last quarter. Norges Bank purchased a new stake in The Hartford Financial Services Group in the fourth quarter worth about $416,340,000. NEOS Investment Management LLC lifted its holdings in shares of The Hartford Financial Services Group by 30.0% during the fourth quarter. NEOS Investment Management LLC now owns 16,169 shares of the insurance provider's stock valued at $1,769,000 after purchasing an additional 3,729 shares during the last quarter. Finally, Elo Mutual Pension Insurance Co boosted its holdings in The Hartford Financial Services Group by 14.7% in the fourth quarter. Elo Mutual Pension Insurance Co now owns 29,991 shares of the insurance provider's stock worth $3,281,000 after acquiring an additional 3,854 shares in the last quarter. 93.42% of the stock is owned by hedge funds and other institutional investors.

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Wall Street Analyst Weigh In

A number of research firms have commented on HIG. Raymond James lifted their target price on shares of The Hartford Financial Services Group from $125.00 to $135.00 and gave the stock an "outperform" rating in a research report on Monday. Wells Fargo & Company reduced their price target on shares of The Hartford Financial Services Group from $130.00 to $126.00 and set an "overweight" rating for the company in a research report on Monday, February 3rd. Piper Sandler boosted their price objective on shares of The Hartford Financial Services Group from $130.00 to $145.00 and gave the company an "overweight" rating in a research report on Tuesday. StockNews.com downgraded The Hartford Financial Services Group from a "buy" rating to a "hold" rating in a research note on Tuesday, March 18th. Finally, Royal Bank of Canada reaffirmed a "sector perform" rating and set a $125.00 price objective on shares of The Hartford Financial Services Group in a research report on Monday, February 3rd. Ten investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $123.47.

Insider Activity at The Hartford Financial Services Group

In other news, CEO Christopher Swift sold 98,061 shares of The Hartford Financial Services Group stock in a transaction 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 directly owns 211,082 shares in the company, valued at approximately $25,412,161.98. This trade represents a 31.72 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Robert W. Paiano sold 13,138 shares of the company'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 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 ownership of the stock. The disclosure for this sale can be found here. 1.60% of the stock is currently owned by corporate insiders.

The Hartford Financial Services Group Trading Down 4.2 %

Shares of NYSE:HIG traded down $5.22 on Friday, hitting $118.23. 516,463 shares of the company's stock were exchanged, compared to its average volume of 1,723,482. The stock has a market capitalization of $33.74 billion, a price-to-earnings ratio of 11.42, 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 $125.08. 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 business's 50 day simple moving average is $116.52 and its two-hundred day simple moving average is $115.51.

The Hartford Financial Services Group (NYSE:HIG - Get Free Report) last issued its earnings results on Thursday, January 30th. The insurance provider reported $2.94 earnings per share for the quarter, beating analysts' consensus estimates 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%. Analysts anticipate that The Hartford Financial Services Group, Inc. will post 11.11 EPS for the current fiscal year.

The Hartford Financial Services Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, April 2nd. Stockholders of record on Monday, March 3rd were paid a dividend of $0.52 per share. The ex-dividend date was Monday, March 3rd. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.76%. The Hartford Financial Services Group's dividend payout ratio is presently 20.10%.

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.