Zions Bancorporation N.A. Has $1.63 Million Position in The Hartford Financial Services Group, Inc. (NYSE:HIG)

Zions Bancorporation N.A. grew its stake in shares of The Hartford Financial Services Group, Inc. (NYSE:HIG - Free Report) by 52.1% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 14,880 shares of the insurance provider's stock after buying an additional 5,098 shares during the period. Zions Bancorporation N.A.'s holdings in The Hartford Financial Services Group were worth $1,628,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the stock. HighTower Advisors LLC lifted its stake in shares of The Hartford Financial Services Group by 7.1% during the third quarter. HighTower Advisors LLC now owns 111,134 shares of the insurance provider's stock valued at $13,063,000 after buying an additional 7,350 shares during the period. Dai ichi Life Insurance Company Ltd lifted its stake in shares of The Hartford Financial Services Group by 3.3% during the 3rd quarter. Dai ichi Life Insurance Company Ltd now owns 137,506 shares of the insurance provider's stock worth $16,172,000 after purchasing an additional 4,449 shares during the period. Horizon Advisory Services Inc. acquired a new stake in shares of The Hartford Financial Services Group during the fourth quarter worth $277,000. Zurich Insurance Group Ltd FI acquired a new position in The Hartford Financial Services Group in the third quarter valued at $19,005,000. Finally, Assenagon Asset Management S.A. boosted its stake in The Hartford Financial Services Group by 437.9% in the 4th quarter. Assenagon Asset Management S.A. now owns 871,318 shares of the insurance provider's stock worth $95,322,000 after buying an additional 709,324 shares during the last quarter. Hedge funds and other institutional investors own 93.42% of the company's stock.

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Insider Buying and Selling at The Hartford Financial Services Group

In related news, EVP Robert W. Paiano sold 13,138 shares of the company's stock in a transaction 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 completion of the sale, 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, 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 stock was 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 directly owns 211,082 shares of the company's stock, valued at $25,412,161.98. This represents a 31.72 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.60% of the company's stock.

The Hartford Financial Services Group Price Performance

NYSE:HIG traded down $0.77 during midday trading on Friday, hitting $122.21. 1,324,792 shares of the stock were exchanged, compared to its average volume of 1,576,175. The company has a market capitalization of $34.88 billion, a price-to-earnings ratio of 11.81, a P/E/G ratio of 1.12 and a beta of 0.91. 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, Inc. has a one year low of $94.47 and a one year high of $124.90. The business has a 50-day moving average price of $115.52 and a two-hundred day moving average price of $115.26.

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, 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 predict that The Hartford Financial Services Group, Inc. will post 11.11 EPS for the current year.

The Hartford Financial Services Group Announces Dividend

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

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on HIG. Royal Bank of Canada reaffirmed a "sector perform" rating and issued a $125.00 target price on shares of The Hartford Financial Services Group in a research report on Monday, February 3rd. StockNews.com lowered The Hartford Financial Services Group from a "buy" rating to a "hold" rating in a research report on Tuesday, March 18th. Wells Fargo & Company lowered their target price 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. Barclays raised shares of The Hartford Financial Services Group from an "equal weight" rating to an "overweight" rating and upped their price target for the company from $130.00 to $135.00 in a report on Monday, January 6th. Finally, Piper Sandler increased their target price 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 issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $122.94.

About The Hartford Financial Services Group

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.