National Bank of Canada FI Buys 203,447 Shares of The Hartford Financial Services Group, Inc. (NYSE:HIG)

National Bank of Canada FI increased its stake in The Hartford Financial Services Group, Inc. (NYSE:HIG) by 119.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 373,919 shares of the insurance provider’s stock after acquiring an additional 203,447 shares during the period. National Bank of Canada FI owned about 0.13% of The Hartford Financial Services Group worth $40,909,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Thurston Springer Miller Herd & Titak Inc. boosted its stake in shares of The Hartford Financial Services Group by 3,342.9% during the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 241 shares of the insurance provider’s stock valued at $26,000 after purchasing an additional 234 shares during the period. Barrett & Company Inc. increased its stake in shares of The Hartford Financial Services Group by 46.5% in the fourth quarter. Barrett & Company Inc. now owns 293 shares of the insurance provider’s stock worth $32,000 after buying an additional 93 shares during the period. DT Investment Partners LLC raised its holdings in The Hartford Financial Services Group by 49.8% during the 4th quarter. DT Investment Partners LLC now owns 331 shares of the insurance provider’s stock valued at $36,000 after buying an additional 110 shares during the last quarter. Flagship Wealth Advisors LLC purchased a new stake in The Hartford Financial Services Group during the 4th quarter valued at $36,000. Finally, Key Financial Inc grew its holdings in The Hartford Financial Services Group by 526.3% in the 4th quarter. Key Financial Inc now owns 357 shares of the insurance provider’s stock worth $39,000 after acquiring an additional 300 shares during the last quarter. 93.42% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at The Hartford Financial Services Group

In related news, EVP Robert W. Paiano sold 13,138 shares of the company’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 sale, the executive vice president now owns 31,678 shares of the company’s stock, valued at $3,712,661.60. This represents a 29.32 % 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, CEO Christopher Swift sold 98,061 shares of The Hartford Financial Services Group stock in a transaction on Monday, March 17th. The stock was sold at an average price of $120.39, for a total transaction of $11,805,563.79. Following the completion of the transaction, the chief executive officer now directly owns 211,082 shares of the company’s stock, valued at $25,412,161.98. The trade was a 31.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.60% of the company’s stock.

The Hartford Financial Services Group Price Performance

Shares of NYSE:HIG opened at $124.98 on Thursday. The firm has a market cap of $35.67 billion, a price-to-earnings ratio of 12.08, a P/E/G ratio of 1.12 and a beta of 0.91. The firm has a fifty day moving average price of $116.27 and a 200 day moving average price of $115.46. The Hartford Financial Services Group, Inc. has a fifty-two week low of $94.47 and a fifty-two week high of $125.08. 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 issued its quarterly earnings data on Thursday, January 30th. The insurance provider reported $2.94 earnings per share 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%. As a group, sell-side analysts expect 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 was paid on Wednesday, April 2nd. Shareholders of record on Monday, March 3rd were paid a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 1.66%. The ex-dividend date of this dividend was Monday, March 3rd. The Hartford Financial Services Group’s payout ratio is 20.10%.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on HIG. Barclays raised The Hartford Financial Services Group from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $130.00 to $135.00 in a research note on Monday, January 6th. Keefe, Bruyette & Woods upped their target price on The Hartford Financial Services Group from $139.00 to $140.00 and gave the company an “outperform” rating in a report on Wednesday, February 5th. StockNews.com cut shares of The Hartford Financial Services Group from a “buy” rating to a “hold” rating in a report on Tuesday, March 18th. 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 report on Tuesday. Finally, 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 research report on Monday, February 3rd. Ten research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $124.61.

The Hartford Financial Services Group Company 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.