Tower Research Capital LLC TRC lifted its stake in shares of The Hartford Financial Services Group, Inc. (NYSE:HIG - Free Report) by 217.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 23,484 shares of the insurance provider's stock after acquiring an additional 16,087 shares during the quarter. Tower Research Capital LLC TRC's holdings in The Hartford Financial Services Group were worth $2,569,000 at the end of the most recent reporting period.
A number of other hedge funds have also modified their holdings of the stock. Thurston Springer Miller Herd & Titak Inc. increased its stake in The Hartford Financial Services Group by 3,342.9% in the 4th 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 in the last quarter. Barrett & Company Inc. boosted its holdings in shares of The Hartford Financial Services Group by 46.5% in the fourth quarter. Barrett & Company Inc. now owns 293 shares of the insurance provider's stock worth $32,000 after buying an additional 93 shares during the period. DT Investment Partners LLC increased its position in shares of The Hartford Financial Services Group by 49.8% in the fourth quarter. DT Investment Partners LLC now owns 331 shares of the insurance provider's stock worth $36,000 after acquiring an additional 110 shares in the last quarter. Flagship Wealth Advisors LLC acquired a new stake in shares of The Hartford Financial Services Group during the fourth quarter valued at approximately $36,000. Finally, Key Financial Inc lifted its position in shares of The Hartford Financial Services Group by 526.3% in the 4th quarter. Key Financial Inc now owns 357 shares of the insurance provider's stock valued at $39,000 after acquiring an additional 300 shares in the last quarter. 93.42% of the stock is currently owned by institutional investors and hedge funds.
Insider Activity at The Hartford Financial Services Group
In related news, CEO Christopher Swift sold 1,144 shares of the stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $125.00, for a total value of $143,000.00. Following the completion of the transaction, the chief executive officer now owns 211,082 shares of the company's stock, valued at $26,385,250. This represents a 0.54 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Robert W. Paiano sold 13,138 shares of The Hartford Financial Services Group 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 sale, the executive vice president now directly owns 31,678 shares in the company, valued at $3,712,661.60. The trade was a 29.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 112,343 shares of company stock worth $13,488,337. 1.60% of the stock is owned by corporate insiders.
The Hartford Financial Services Group Stock Performance
The Hartford Financial Services Group stock traded down $0.16 during mid-day trading on Thursday, reaching $118.89. The company had a trading volume of 1,699,356 shares, compared to its average volume of 1,575,769. The company has a 50 day moving average of $117.54 and a 200-day moving average of $115.39. The Hartford Financial Services Group, Inc. has a 52 week low of $94.47 and a 52 week high of $125.08. The company has a quick ratio of 0.32, a current ratio of 0.32 and a debt-to-equity ratio of 0.27. The firm has a market cap of $34.24 billion, a price-to-earnings ratio of 11.49, a PEG ratio of 1.12 and a beta of 0.68.
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 for the quarter, topping 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%. On average, sell-side analysts expect that The Hartford Financial Services Group, Inc. will post 11.11 EPS for the current fiscal year.
The Hartford Financial Services Group Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 2nd. Stockholders of record on Monday, March 3rd were given a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend 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 presently 20.10%.
Wall Street Analysts Forecast Growth
Several analysts have issued reports on the stock. Keefe, Bruyette & Woods cut their target price on shares of The Hartford Financial Services Group from $140.00 to $133.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 9th. Wells Fargo & Company dropped their price target on The Hartford Financial Services Group from $126.00 to $125.00 and set an "overweight" rating on the stock in a research report on Thursday, April 10th. StockNews.com raised shares of The Hartford Financial Services Group from a "hold" rating to a "buy" rating in a research note on Thursday, April 17th. Piper Sandler boosted their price target on The Hartford Financial Services Group from $130.00 to $145.00 and gave the company an "overweight" rating in a research note on Tuesday, April 1st. Finally, JPMorgan Chase & Co. upped their price objective on shares of The Hartford Financial Services Group from $125.00 to $129.00 and gave the stock a "neutral" rating in a report on Tuesday, April 8th. Eight 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. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $124.13.
Read Our Latest Stock Analysis on The Hartford Financial Services Group
About The Hartford Financial Services Group
(
Free Report)
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.
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