MGO One Seven LLC Raises Stake in The Hartford Financial Services Group, Inc. (NYSE:HIG)

MGO One Seven LLC grew its holdings in The Hartford Financial Services Group, Inc. (NYSE:HIG) by 9.1% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 5,117 shares of the insurance provider’s stock after acquiring an additional 428 shares during the quarter. MGO One Seven LLC’s holdings in The Hartford Financial Services Group were worth $560,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in HIG. Geode Capital Management LLC raised its stake in The Hartford Financial Services Group by 1.1% during the 4th quarter. Geode Capital Management LLC now owns 7,251,389 shares of the insurance provider’s stock valued at $792,796,000 after acquiring an additional 81,495 shares during the last quarter. Victory Capital Management Inc. raised its stake in shares of The Hartford Financial Services Group by 4.5% during the fourth quarter. Victory Capital Management Inc. now owns 4,701,675 shares of the insurance provider’s stock worth $514,363,000 after purchasing an additional 202,487 shares during the last quarter. Nordea Investment Management AB raised its stake in shares of The Hartford Financial Services Group by 17.3% during the fourth quarter. Nordea Investment Management AB now owns 3,938,421 shares of the insurance provider’s stock worth $430,272,000 after purchasing an additional 581,103 shares during the last quarter. Norges Bank acquired a new stake in shares of The Hartford Financial Services Group during the fourth quarter worth $416,340,000. Finally, Massachusetts Financial Services Co. MA grew its position in The Hartford Financial Services Group by 0.7% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 3,448,982 shares of the insurance provider’s stock valued at $377,319,000 after buying an additional 25,053 shares during the last quarter. Institutional investors and hedge funds own 93.42% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently commented on HIG. Piper Sandler raised their target price on shares of The Hartford Financial Services Group from $130.00 to $145.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 1st. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $125.00 price objective on shares of The Hartford Financial Services Group in a report on Monday, February 3rd. Jefferies Financial Group dropped their target price on The Hartford Financial Services Group from $118.00 to $117.00 and set a “hold” rating on the stock in a research report on Friday, April 11th. Keefe, Bruyette & Woods reduced their price target on The Hartford Financial Services Group from $140.00 to $133.00 and set an “outperform” rating for the company in a report on Wednesday, April 9th. Finally, JPMorgan Chase & Co. upped their price objective on The Hartford Financial Services Group from $125.00 to $129.00 and gave the stock a “neutral” rating in a report on Tuesday, April 8th. Seven equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, The Hartford Financial Services Group presently has an average rating of “Moderate Buy” and an average price target of $126.40.

Insider Activity at The Hartford Financial Services Group

In other The Hartford Financial Services Group news, CEO Christopher Swift sold 1,144 shares of The Hartford Financial Services Group stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $125.00, for a total value of $143,000.00. Following the transaction, the chief executive officer now owns 211,082 shares in the company, valued at $26,385,250. This trade represents a 0.54 % decrease in their position. The sale 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 business’s stock in a transaction dated 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 of the company’s stock, valued at approximately $3,712,661.60. This trade represents a 29.32 % 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 valued at $13,488,337. 1.60% of the stock is owned by insiders.

The Hartford Financial Services Group Price Performance

The Hartford Financial Services Group stock opened at $118.79 on Monday. The company has a quick ratio of 0.32, a current ratio of 0.32 and a debt-to-equity ratio of 0.27. The firm’s 50-day simple moving average is $117.66 and its 200 day simple moving average is $115.39. The Hartford Financial Services Group, Inc. has a 52 week low of $95.00 and a 52 week high of $125.08. The firm has a market capitalization of $34.21 billion, a PE ratio of 11.48, a P/E/G ratio of 1.12 and a beta of 0.68.

The Hartford Financial Services Group (NYSE:HIG) last announced its quarterly earnings results on Thursday, April 24th. The insurance provider reported $2.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.15 by $0.05. The Hartford Financial Services Group had a net margin of 11.72% and a return on equity of 19.55%. The company had revenue of $6.81 billion for the quarter, compared to the consensus estimate of $6.97 billion. During the same quarter in the prior year, the firm earned $2.34 earnings per share. On average, equities research analysts predict that The Hartford Financial Services Group, Inc. will post 11.11 EPS for the current fiscal year.

The Hartford Financial Services Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 2nd. Shareholders of record on Monday, March 3rd were given a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 1.75%. The ex-dividend date was Monday, March 3rd. The Hartford Financial Services Group’s payout ratio is 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.