NEOS Investment Management LLC Increases Stake in The Hartford Financial Services Group, Inc. (NYSE:HIG)

NEOS Investment Management LLC increased its holdings in The Hartford Financial Services Group, Inc. (NYSE:HIG) by 30.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 16,169 shares of the insurance provider’s stock after purchasing an additional 3,729 shares during the quarter. NEOS Investment Management LLC’s holdings in The Hartford Financial Services Group were worth $1,769,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the business. Fisher Asset Management LLC purchased a new position in shares of The Hartford Financial Services Group in the third quarter worth about $340,000. D.A. Davidson & CO. increased its stake in The Hartford Financial Services Group by 1.0% in the 3rd quarter. D.A. Davidson & CO. now owns 19,247 shares of the insurance provider’s stock worth $2,264,000 after purchasing an additional 199 shares during the period. Townsquare Capital LLC lifted its position in The Hartford Financial Services Group by 33.3% in the third quarter. Townsquare Capital LLC now owns 7,860 shares of the insurance provider’s stock valued at $924,000 after purchasing an additional 1,962 shares during the last quarter. BNP Paribas purchased a new stake in shares of The Hartford Financial Services Group during the third quarter valued at approximately $35,000. Finally, CreativeOne Wealth LLC grew its holdings in shares of The Hartford Financial Services Group by 328.8% in the third quarter. CreativeOne Wealth LLC now owns 11,343 shares of the insurance provider’s stock worth $1,334,000 after purchasing an additional 8,698 shares during the last quarter. 93.42% of the stock is owned by institutional investors.

The Hartford Financial Services Group Price Performance

Shares of HIG opened at $122.21 on Friday. The Hartford Financial Services Group, Inc. has a fifty-two week low of $94.47 and a fifty-two week high of $124.90. The firm’s 50-day simple moving average is $115.52 and its two-hundred day simple moving average is $115.27. The stock has a market cap of $34.88 billion, a PE ratio of 11.81, a price-to-earnings-growth ratio of 1.12 and a beta of 0.91. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.32 and a current ratio of 0.32.

The Hartford Financial Services Group (NYSE:HIG) last announced its quarterly earnings data on Thursday, January 30th. The insurance provider reported $2.94 earnings per share (EPS) for the quarter, beating 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%. Analysts anticipate that The Hartford Financial Services Group, Inc. will post 11.11 earnings per share for the current fiscal year.

The Hartford Financial Services Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 2nd. Shareholders of record on Monday, March 3rd will be paid a dividend of $0.52 per share. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $2.08 dividend on an annualized basis and a yield of 1.70%. The Hartford Financial Services Group’s dividend payout ratio is currently 20.10%.

Analyst Upgrades and Downgrades

A number of research firms recently commented on HIG. Royal Bank of Canada reiterated 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. Piper Sandler upped their price objective on shares of 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. Keefe, Bruyette & Woods raised 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 note on Wednesday, February 5th. StockNews.com downgraded The Hartford Financial Services Group from a “buy” rating to a “hold” rating in a report on Tuesday, March 18th. Finally, Wells Fargo & Company dropped their price objective on The Hartford Financial Services Group from $130.00 to $126.00 and set an “overweight” rating for the company 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 issued a strong buy rating to the company. According to MarketBeat, The Hartford Financial Services Group has an average rating of “Moderate Buy” and a consensus price target of $122.94.

Insiders Place Their Bets

In other news, CEO Christopher Swift sold 98,061 shares of the business’s stock in a transaction on 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 transaction, the chief executive officer now owns 211,082 shares in the company, valued at $25,412,161.98. The trade was a 31.72 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Robert W. Paiano sold 13,138 shares of the 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 sale, the executive vice president now directly owns 31,678 shares in the company, valued at $3,712,661.60. This trade represents a 29.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.60% of the company’s stock.

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.