F M Investments LLC Raises Stake in The Hartford Financial Services Group, Inc. (NYSE:HIG)

F M Investments LLC raised its position in The Hartford Financial Services Group, Inc. (NYSE:HIG) by 10.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 91,764 shares of the insurance provider’s stock after purchasing an additional 8,886 shares during the period. F M Investments LLC’s holdings in The Hartford Financial Services Group were worth $10,039,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. DRW Securities LLC purchased a new stake in The Hartford Financial Services Group during the 4th quarter worth about $229,000. Martingale Asset Management L P lifted its stake in The Hartford Financial Services Group by 4.0% during the fourth quarter. Martingale Asset Management L P now owns 181,134 shares of the insurance provider’s stock worth $19,816,000 after purchasing an additional 6,910 shares during the last quarter. Bank of Nova Scotia boosted its holdings in The Hartford Financial Services Group by 2.5% in the fourth quarter. Bank of Nova Scotia now owns 43,344 shares of the insurance provider’s stock valued at $4,742,000 after purchasing an additional 1,073 shares in the last quarter. FIL Ltd raised its holdings in The Hartford Financial Services Group by 150.9% during the fourth quarter. FIL Ltd now owns 57,308 shares of the insurance provider’s stock worth $6,269,000 after purchasing an additional 34,471 shares in the last quarter. Finally, Cerity Partners LLC lifted its position in shares of The Hartford Financial Services Group by 4.9% during the 4th quarter. Cerity Partners LLC now owns 70,747 shares of the insurance provider’s stock worth $7,829,000 after buying an additional 3,302 shares during the last quarter. 93.42% of the stock is currently owned by institutional investors and hedge funds.

The Hartford Financial Services Group Stock Up 5.8 %

Shares of NYSE HIG opened at $116.54 on Thursday. The Hartford Financial Services Group, Inc. has a 1 year low of $94.47 and a 1 year high of $125.08. The stock’s 50-day simple moving average is $116.47 and its 200-day simple moving average is $115.35. 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 firm has a market cap of $33.26 billion, a price-to-earnings ratio of 11.26, a PEG ratio of 1.12 and a beta of 0.68.

The Hartford Financial Services Group (NYSE:HIG) last posted its quarterly earnings results on Thursday, January 30th. The insurance provider reported $2.94 earnings per share (EPS) for the quarter, beating 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 earnings per share for the current fiscal year.

The Hartford Financial Services Group Announces Dividend

The firm 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. The ex-dividend date was Monday, March 3rd. This represents a $2.08 annualized dividend and a dividend yield of 1.78%. The Hartford Financial Services Group’s dividend payout ratio is presently 20.10%.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. Barclays raised shares of The Hartford Financial Services Group from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $130.00 to $135.00 in a research report on Monday, January 6th. JPMorgan Chase & Co. raised their price target on The Hartford Financial Services Group from $125.00 to $129.00 and gave the stock a “neutral” rating in a report on Tuesday. Piper Sandler upped their price objective 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. Royal Bank of Canada reiterated a “sector perform” rating and issued a $125.00 target price on shares of The Hartford Financial Services Group in a research note on Monday, February 3rd. Finally, Wells Fargo & Company dropped their target price on The Hartford Financial Services Group from $130.00 to $126.00 and set an “overweight” rating on the stock in a report on Monday, February 3rd. Ten analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, The Hartford Financial Services Group presently has an average rating of “Moderate Buy” and an average target price of $123.29.

Insider Activity at The Hartford Financial Services Group

In other news, CEO Christopher Swift sold 1,144 shares of the stock in a transaction on Wednesday, April 2nd. The stock was 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 approximately $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 can be accessed through this link. Also, EVP Robert W. Paiano sold 13,138 shares of The Hartford Financial Services Group stock in a transaction dated Tuesday, March 11th. The shares were 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 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 disclosure for this sale can be found here. Insiders have sold a total of 112,343 shares of company stock worth $13,488,337 in the last three months. 1.60% of the stock is owned by company insiders.

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.