The Hartford Financial Services Group, Inc. (NYSE:HIG) Holdings Lifted by Ritholtz Wealth Management

Ritholtz Wealth Management increased its holdings in shares of The Hartford Financial Services Group, Inc. (NYSE:HIG) by 2.7% during the first quarter, HoldingsChannel.com reports. The institutional investor owned 67,631 shares of the insurance provider’s stock after purchasing an additional 1,785 shares during the quarter. Ritholtz Wealth Management’s holdings in The Hartford Financial Services Group were worth $8,368,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of HIG. Spurstone Advisory Services LLC purchased a new position in shares of The Hartford Financial Services Group during the fourth quarter valued at $33,000. Itau Unibanco Holding S.A. purchased a new position in shares of The Hartford Financial Services Group during the fourth quarter valued at $35,000. DT Investment Partners LLC grew its holdings in shares of The Hartford Financial Services Group by 49.8% during the fourth 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 in the last quarter. Flagship Wealth Advisors LLC purchased a new position in shares of The Hartford Financial Services Group during the fourth quarter valued at $36,000. Finally, Key Financial Inc grew its holdings in shares of The Hartford Financial Services Group by 526.3% during the fourth quarter. Key Financial Inc now owns 357 shares of the insurance provider’s stock valued at $39,000 after buying an additional 300 shares in the last quarter. Hedge funds and other institutional investors own 93.42% of the company’s stock.

Insiders Place Their Bets

In related news, CEO Christopher Swift sold 98,061 shares of the business’s stock in a transaction dated 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 owns 211,082 shares of the company’s stock, valued at approximately $25,412,161.98. The trade was a 31.72% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Allison G. Niderno sold 1,086 shares of the business’s stock in a transaction dated Monday, April 28th. The stock was sold at an average price of $119.42, for a total value of $129,690.12. Following the transaction, the senior vice president now directly owns 622 shares of the company’s stock, valued at $74,279.24. This represents a 63.58% decrease in their position. The disclosure for this sale can be found here. Insiders sold 100,291 shares of company stock valued at $12,078,254 over the last quarter. Insiders own 1.50% of the company’s stock.

The Hartford Financial Services Group Price Performance

Shares of NYSE:HIG opened at $125.11 on Friday. The Hartford Financial Services Group, Inc. has a fifty-two week low of $98.16 and a fifty-two week high of $132.09. The business has a 50-day moving average of $124.32 and a two-hundred day moving average of $117.88. The stock has a market capitalization of $35.54 billion, a P/E ratio of 12.09, a P/E/G ratio of 1.12 and a beta of 0.71. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.32 and a quick ratio of 0.32.

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 for the quarter, topping analysts’ consensus estimates of $2.15 by $0.05. The Hartford Financial Services Group had a return on equity of 19.55% and a net margin of 11.72%. The company had revenue of $6.81 billion during the quarter, compared to analysts’ expectations of $6.97 billion. During the same quarter in the previous year, the firm earned $2.34 earnings per share. The business’s quarterly revenue was up 6.1% compared to the same quarter last year. 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 Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 2nd. Shareholders of record on Monday, June 2nd will be given a $0.52 dividend. The ex-dividend date is Monday, June 2nd. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.66%. The Hartford Financial Services Group’s dividend payout ratio is currently 20.74%.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on HIG shares. JPMorgan Chase & Co. lifted their price target on The Hartford Financial Services Group from $125.00 to $129.00 and gave the company a “neutral” rating in a report on Tuesday, April 8th. Jefferies Financial Group lowered 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 note on Friday, April 11th. Morgan Stanley boosted their target price on The Hartford Financial Services Group from $115.00 to $130.00 and gave the company an “equal weight” rating in a research note on Monday, May 19th. Piper Sandler boosted 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 note on Tuesday, April 1st. Finally, Wells Fargo & Company cut their price objective on shares of The Hartford Financial Services Group from $126.00 to $125.00 and set an “overweight” rating on the stock in a research report on Thursday, April 10th. Seven research 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. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $131.15.

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.