RiverFront Investment Group LLC Grows Stake in The Hartford Financial Services Group, Inc. (NYSE:HIG)

RiverFront Investment Group LLC lifted its holdings in The Hartford Financial Services Group, Inc. (NYSE:HIG - Free Report) by 5.9% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 243,796 shares of the insurance provider's stock after acquiring an additional 13,553 shares during the period. RiverFront Investment Group LLC owned approximately 0.08% of The Hartford Financial Services Group worth $26,671,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Thurston Springer Miller Herd & Titak Inc. grew its holdings in The Hartford Financial Services Group by 3,342.9% in the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 241 shares of the insurance provider's stock worth $26,000 after purchasing an additional 234 shares during the period. Barrett & Company Inc. grew its stake in shares of The Hartford Financial Services Group by 46.5% in the 4th quarter. Barrett & Company Inc. now owns 293 shares of the insurance provider's stock valued at $32,000 after buying an additional 93 shares during the period. BNP Paribas bought a new stake in The Hartford Financial Services Group in the 3rd quarter valued at about $35,000. DT Investment Partners LLC raised its stake in The Hartford Financial Services Group by 49.8% during the 4th quarter. DT Investment Partners LLC now owns 331 shares of the insurance provider's stock worth $36,000 after buying an additional 110 shares during the period. Finally, Flagship Wealth Advisors LLC bought a new position in The Hartford Financial Services Group in the fourth quarter worth approximately $36,000. 93.42% of the stock is owned by institutional investors and hedge funds.

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The Hartford Financial Services Group Stock Performance

Shares of HIG traded up $1.51 during trading hours on Monday, hitting $123.73. The company's stock had a trading volume of 2,137,172 shares, compared to its average volume of 1,578,410. The business has a 50 day simple moving average of $115.52 and a two-hundred day simple moving average of $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, Inc. has a 52-week low of $94.47 and a 52-week high of $124.90. The company has a market cap of $35.31 billion, a price-to-earnings ratio of 11.95, a PEG ratio of 1.12 and a beta of 0.91.

The Hartford Financial Services Group (NYSE:HIG - Get Free Report) last announced its quarterly earnings results on Thursday, January 30th. The insurance provider reported $2.94 earnings per share for the quarter, beating 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 analysts expect 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 company also recently declared a quarterly dividend, which will be paid on Wednesday, April 2nd. Shareholders of record on Monday, March 3rd will be issued a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 1.68%. The ex-dividend date is Monday, March 3rd. The Hartford Financial Services Group's payout ratio is 20.10%.

Insiders Place Their Bets

In other news, CEO Christopher Swift sold 98,061 shares of the firm's stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $120.39, for a total transaction of $11,805,563.79. Following the transaction, the chief executive officer now directly 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 sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Robert W. Paiano sold 13,138 shares of the business's stock in a transaction dated 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 completion of the sale, the executive vice president now directly owns 31,678 shares of the company's stock, valued at approximately $3,712,661.60. This trade represents a 29.32 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.60% of the company's stock.

Analyst Ratings Changes

A number of brokerages have recently weighed in on HIG. Keefe, Bruyette & Woods upped their target price on The Hartford Financial Services Group from $139.00 to $140.00 and gave the stock an "outperform" rating in a research report on Wednesday, February 5th. StockNews.com lowered shares of The Hartford Financial Services Group from a "buy" rating to a "hold" rating in a research note on Tuesday, March 18th. Wells Fargo & Company decreased their target price 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. Royal Bank of Canada reaffirmed a "sector perform" rating and issued a $125.00 price target on shares of The Hartford Financial Services Group in a research report on Monday, February 3rd. Finally, Piper Sandler boosted their price objective on The Hartford Financial Services Group from $127.00 to $130.00 and gave the stock an "overweight" rating in a report on Monday, February 3rd. Ten research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently 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.