Bridgewater Associates LP Grows Stake in The Hartford Financial Services Group, Inc. (NYSE:HIG)

Bridgewater Associates LP increased its holdings in The Hartford Financial Services Group, Inc. (NYSE:HIG) by 28.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 346,555 shares of the insurance provider’s stock after purchasing an additional 77,608 shares during the period. Bridgewater Associates LP owned 0.12% of The Hartford Financial Services Group worth $37,913,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Catalyst Financial Partners LLC increased its position in shares of The Hartford Financial Services Group by 3.0% during the fourth quarter. Catalyst Financial Partners LLC now owns 3,079 shares of the insurance provider’s stock worth $337,000 after acquiring an additional 90 shares during the period. Barrett & Company Inc. increased its holdings in The Hartford Financial Services Group by 46.5% during the 4th quarter. Barrett & Company Inc. now owns 293 shares of the insurance provider’s stock worth $32,000 after purchasing an additional 93 shares during the period. Wilmington Savings Fund Society FSB raised its position in The Hartford Financial Services Group by 2.2% during the 4th quarter. Wilmington Savings Fund Society FSB now owns 4,468 shares of the insurance provider’s stock valued at $489,000 after purchasing an additional 97 shares in the last quarter. Lifestyle Asset Management Inc. raised its position in The Hartford Financial Services Group by 0.9% during the 4th quarter. Lifestyle Asset Management Inc. now owns 11,499 shares of the insurance provider’s stock valued at $1,258,000 after purchasing an additional 98 shares in the last quarter. Finally, Smithfield Trust Co lifted its holdings in shares of The Hartford Financial Services Group by 26.7% in the 4th quarter. Smithfield Trust Co now owns 475 shares of the insurance provider’s stock worth $51,000 after buying an additional 100 shares during the period. 93.42% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. 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. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $125.00 price target on shares of The Hartford Financial Services Group in a research report on Monday, February 3rd. Raymond James lifted their price objective on shares of The Hartford Financial Services Group from $125.00 to $135.00 and gave the company an “outperform” rating in a report on Monday, March 31st. Piper Sandler increased their target price on The Hartford Financial Services Group from $130.00 to $145.00 and gave the company an “overweight” rating in a research report on Tuesday, April 1st. Finally, StockNews.com cut The Hartford Financial Services Group from a “buy” rating to a “hold” rating in a research note on Tuesday, March 18th. Nine analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $124.13.

The Hartford Financial Services Group Trading Up 1.5 %

Shares of The Hartford Financial Services Group stock opened at $117.77 on Tuesday. The firm’s 50 day simple moving average is $116.68 and its two-hundred day simple moving average is $115.33. The firm has a market capitalization of $33.61 billion, a price-to-earnings ratio of 11.38, a PEG ratio of 1.12 and a beta of 0.68. The Hartford Financial Services Group, Inc. has a 12-month low of $94.47 and a 12-month high of $125.08. 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 (NYSE:HIG) last released its 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%. 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 company also recently announced a quarterly dividend, which was paid on Wednesday, April 2nd. Investors of record on Monday, March 3rd were issued a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.77%. The ex-dividend date of this dividend was Monday, March 3rd. The Hartford Financial Services Group’s dividend payout ratio (DPR) is 20.10%.

Insider Buying and Selling

In related news, EVP Robert W. Paiano sold 13,138 shares of the firm’s stock in a transaction on 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 completion of the transaction, the executive vice president now owns 31,678 shares of the company’s stock, valued at $3,712,661.60. This trade represents a 29.32 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Christopher Swift sold 1,144 shares of the company’s stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $125.00, for a total transaction of $143,000.00. Following the completion of the sale, the chief executive officer now directly owns 211,082 shares in the company, valued at approximately $26,385,250. The trade was a 0.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 112,343 shares of company stock valued at $13,488,337 over the last quarter. 1.60% of the stock is currently 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.