Stevens Capital Management LP Boosts Stake in The Hartford Financial Services Group, Inc. (NYSE:HIG)

Stevens Capital Management LP lifted its holdings in shares of The Hartford Financial Services Group, Inc. (NYSE:HIG - Free Report) by 147.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,621 shares of the insurance provider's stock after acquiring an additional 2,751 shares during the quarter. Stevens Capital Management LP's holdings in The Hartford Financial Services Group were worth $506,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. AustralianSuper Pty Ltd grew its stake in The Hartford Financial Services Group by 265.5% in the fourth quarter. AustralianSuper Pty Ltd now owns 1,213,074 shares of the insurance provider's stock worth $132,710,000 after purchasing an additional 881,224 shares during the period. Assenagon Asset Management S.A. increased its stake in shares of The Hartford Financial Services Group by 437.9% during the fourth quarter. Assenagon Asset Management S.A. now owns 871,318 shares of the insurance provider's stock valued at $95,322,000 after purchasing an additional 709,324 shares in the last quarter. Proficio Capital Partners LLC lifted its holdings in shares of The Hartford Financial Services Group by 11,904.7% during the fourth quarter. Proficio Capital Partners LLC now owns 631,565 shares of the insurance provider's stock valued at $632,000 after purchasing an additional 626,304 shares during the last quarter. Raymond James Financial Inc. bought a new stake in shares of The Hartford Financial Services Group in the 4th quarter worth approximately $65,256,000. Finally, Nordea Investment Management AB grew its stake in shares of The Hartford Financial Services Group by 17.3% in the 4th quarter. Nordea Investment Management AB now owns 3,938,421 shares of the insurance provider's stock worth $430,272,000 after buying an additional 581,103 shares during the last quarter. Hedge funds and other institutional investors own 93.42% of the company's stock.

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The Hartford Financial Services Group Price Performance

The Hartford Financial Services Group stock traded down $0.77 during mid-day trading on Friday, hitting $122.21. The stock had a trading volume of 1,324,792 shares, 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's 50 day moving average is $115.52 and its 200 day moving average is $115.27. The firm has a market capitalization of $34.88 billion, a P/E ratio of 11.81, a P/E/G ratio of 1.12 and a beta of 0.91. The Hartford Financial Services Group, Inc. has a one year low of $94.47 and a one year high of $124.90.

The Hartford Financial Services Group (NYSE:HIG - Get Free Report) last released its earnings results 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 return on equity of 19.55% and a net margin of 11.72%. On average, sell-side 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 Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 2nd. Stockholders of record on Monday, March 3rd will be issued a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 1.70%. The ex-dividend date of this dividend is Monday, March 3rd. The Hartford Financial Services Group's dividend payout ratio (DPR) is presently 20.10%.

Insider Buying and Selling

In related news, CEO Christopher Swift sold 98,061 shares of the business's stock in a transaction dated 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 sale, the chief executive officer now directly owns 211,082 shares in the company, valued at approximately $25,412,161.98. The trade was a 31.72 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Robert W. Paiano sold 13,138 shares of the business'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 directly owns 31,678 shares in the company, valued at approximately $3,712,661.60. This represents a 29.32 % decrease in their position. The disclosure for this sale can be found here. 1.60% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on HIG shares. Piper Sandler lifted their price objective on The Hartford Financial Services Group from $127.00 to $130.00 and gave the company an "overweight" rating in a research note on Monday, February 3rd. StockNews.com downgraded shares of The Hartford Financial Services Group from a "buy" rating to a "hold" rating in a research report on Tuesday, March 18th. Royal Bank of Canada reaffirmed a "sector perform" rating and issued a $125.00 price objective on shares of The Hartford Financial Services Group in a research report on Monday, February 3rd. Keefe, Bruyette & Woods increased their target price on The Hartford Financial Services Group from $139.00 to $140.00 and gave the company an "outperform" rating in a research note on Wednesday, February 5th. Finally, Wells Fargo & Company decreased their price target on The Hartford Financial Services Group from $130.00 to $126.00 and set an "overweight" rating for the company in a research note on Monday, February 3rd. Ten equities research 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 company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $122.94.

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.