The Hartford Financial Services Group, Inc. (NYSE:HIG) Shares Acquired by NewEdge Advisors LLC

NewEdge Advisors LLC raised its stake in shares of The Hartford Financial Services Group, Inc. (NYSE:HIG) by 7.4% during the 4th quarter, Holdings Channel reports. The institutional investor owned 49,283 shares of the insurance provider’s stock after buying an additional 3,380 shares during the period. NewEdge Advisors LLC’s holdings in The Hartford Financial Services Group were worth $5,392,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in HIG. Ceredex Value Advisors LLC raised its holdings in The Hartford Financial Services Group by 79.0% during the fourth quarter. Ceredex Value Advisors LLC now owns 266,050 shares of the insurance provider’s stock worth $29,106,000 after purchasing an additional 117,450 shares in the last quarter. United Capital Financial Advisors LLC lifted its holdings in shares of The Hartford Financial Services Group by 1.3% in the fourth quarter. United Capital Financial Advisors LLC now owns 12,134 shares of the insurance provider’s stock valued at $1,327,000 after buying an additional 161 shares during the period. Bridgewater Associates LP lifted its holdings in shares of The Hartford Financial Services Group by 28.9% in the fourth quarter. Bridgewater Associates LP now owns 346,555 shares of the insurance provider’s stock valued at $37,913,000 after buying an additional 77,608 shares during the period. Ontario Teachers Pension Plan Board boosted its stake in The Hartford Financial Services Group by 1.8% during the fourth quarter. Ontario Teachers Pension Plan Board now owns 10,496 shares of the insurance provider’s stock valued at $1,148,000 after buying an additional 189 shares in the last quarter. Finally, Aware Super Pty Ltd as trustee of Aware Super acquired a new position in The Hartford Financial Services Group during the fourth quarter worth about $33,373,000. 93.42% of the stock is currently owned by institutional investors.

Insider Activity

In related news, EVP Robert W. Paiano sold 13,138 shares of The Hartford Financial Services Group 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 transaction, the executive vice president now owns 31,678 shares in the company, valued at $3,712,661.60. This trade represents a 29.32 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Christopher Swift sold 98,061 shares of the company’s stock in a transaction dated 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 sale, the chief executive officer now owns 211,082 shares of the company’s stock, valued at $25,412,161.98. This trade represents a 31.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 112,343 shares of company stock valued at $13,488,337. Insiders own 1.60% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently weighed in on HIG. Piper Sandler raised their price objective on shares of 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. Keefe, Bruyette & Woods cut their price objective on The Hartford Financial Services Group from $140.00 to $133.00 and set an “outperform” rating for the company in a research report on Wednesday, April 9th. StockNews.com upgraded The Hartford Financial Services Group from a “hold” rating to a “buy” rating in a report on Thursday. JPMorgan Chase & Co. increased their price target on The Hartford Financial Services Group from $125.00 to $129.00 and gave the company a “neutral” rating in a research report on Tuesday, April 8th. Finally, Barclays raised their target price on shares of The Hartford Financial Services Group from $135.00 to $140.00 and gave the stock an “overweight” rating in a report on Friday, April 11th. Eight equities 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’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $124.13.

The Hartford Financial Services Group Trading Up 0.6 %

Shares of NYSE HIG opened at $117.84 on Friday. The business has a 50 day simple moving average of $117.07 and a 200 day simple moving average of $115.34. The Hartford Financial Services Group, Inc. has a 52 week low of $94.47 and a 52 week high of $125.08. The stock has a market cap of $33.94 billion, a price-to-earnings ratio of 11.39, a PEG ratio of 1.12 and a beta of 0.68. 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 results on Thursday, January 30th. The insurance provider reported $2.94 EPS for the quarter, topping the consensus estimate of $2.68 by $0.26. The Hartford Financial Services Group had a net margin of 11.72% and a return on equity of 19.55%. On average, research analysts predict 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 business also recently declared a quarterly dividend, which was paid on Wednesday, April 2nd. Stockholders of record on Monday, March 3rd were paid a dividend of $0.52 per share. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $2.08 annualized dividend and a dividend yield of 1.77%. The Hartford Financial Services Group’s dividend payout ratio (DPR) is presently 20.10%.

About The Hartford Financial Services Group

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.