Trek Financial LLC Purchases New Holdings in The Hartford Financial Services Group, Inc. (NYSE:HIG)

Trek Financial LLC bought a new stake in The Hartford Financial Services Group, Inc. (NYSE:HIG - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 2,680 shares of the insurance provider's stock, valued at approximately $293,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Federated Hermes Inc. raised its holdings in shares of The Hartford Financial Services Group by 9.4% in the fourth quarter. Federated Hermes Inc. now owns 266,622 shares of the insurance provider's stock valued at $29,168,000 after buying an additional 22,983 shares during the last quarter. Aster Capital Management DIFC Ltd purchased a new stake in The Hartford Financial Services Group during the 4th quarter valued at approximately $831,000. Quadrant Capital Group LLC lifted its position in The Hartford Financial Services Group by 3.0% during the 4th quarter. Quadrant Capital Group LLC now owns 4,003 shares of the insurance provider's stock worth $438,000 after acquiring an additional 117 shares during the period. Wedbush Securities Inc. grew its stake in shares of The Hartford Financial Services Group by 27.4% in the 4th quarter. Wedbush Securities Inc. now owns 7,732 shares of the insurance provider's stock valued at $846,000 after purchasing an additional 1,664 shares during the last quarter. Finally, Dynamic Technology Lab Private Ltd acquired a new position in shares of The Hartford Financial Services Group in the fourth quarter valued at approximately $2,040,000. Hedge funds and other institutional investors own 93.42% of the company's stock.

Analyst Ratings Changes

HIG has been the topic of a number of analyst reports. Keefe, Bruyette & Woods lowered their price objective 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 report on Wednesday. Jefferies Financial Group lowered their target price on shares of The Hartford Financial Services Group from $118.00 to $117.00 and set a "hold" rating on the stock in a report on Friday. Royal Bank of Canada reissued a "sector perform" rating and set a $125.00 price target on shares of The Hartford Financial Services Group in a report on Monday, February 3rd. Barclays lifted their price objective on The Hartford Financial Services Group from $135.00 to $140.00 and gave the company an "overweight" rating in a report on Friday. Finally, Wells Fargo & Company cut their target price on The Hartford Financial Services Group from $126.00 to $125.00 and set an "overweight" rating for the company in a research note on Thursday. Nine equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $124.13.

Insider Buying and Selling

In related news, EVP Robert W. Paiano sold 13,138 shares of the firm's stock in a transaction dated Tuesday, March 11th. The stock was sold at an average price of $117.20, for a total transaction of $1,539,773.60. Following the sale, the executive vice president now directly owns 31,678 shares in the company, valued at approximately $3,712,661.60. This trade represents a 29.32 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Christopher Swift sold 98,061 shares of the stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $120.39, for a total transaction 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 trade represents a 31.72 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, 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 Price Performance

HIG traded up $1.26 during midday trading on Friday, reaching $116.05. 1,351,158 shares of the company's stock were exchanged, compared to its average volume of 1,587,820. The business's 50-day moving average price is $116.60 and its 200 day moving average price is $115.32. The stock has a market capitalization of $33.12 billion, a PE ratio of 11.21, a P/E/G ratio of 1.12 and a beta of 0.68. The Hartford Financial Services Group, Inc. has a 1-year low of $94.47 and a 1-year 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 Hartford Financial Services Group (NYSE:HIG - Get Free Report) last issued its quarterly earnings data 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%. As a group, equities analysts anticipate 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 business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 2nd. Investors of record on Monday, March 3rd were paid a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.79%. The ex-dividend date of this dividend was Monday, March 3rd. The Hartford Financial Services Group's payout ratio is currently 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.