Gitterman Wealth Management LLC Grows Holdings in The Hartford Financial Services Group, Inc. (NYSE:HIG)

Gitterman Wealth Management LLC increased its holdings in shares of The Hartford Financial Services Group, Inc. (NYSE:HIG) by 6.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,875 shares of the insurance provider’s stock after buying an additional 180 shares during the period. Gitterman Wealth Management LLC’s holdings in The Hartford Financial Services Group were worth $315,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in HIG. Frank Rimerman Advisors LLC boosted its holdings in shares of The Hartford Financial Services Group by 18.4% in the 4th quarter. Frank Rimerman Advisors LLC now owns 2,936 shares of the insurance provider’s stock valued at $321,000 after buying an additional 457 shares in the last quarter. Aviso Financial Inc. lifted its stake in shares of The Hartford Financial Services Group by 3.6% in the 4th quarter. Aviso Financial Inc. now owns 19,791 shares of the insurance provider’s stock worth $2,165,000 after acquiring an additional 681 shares during the period. Commonwealth Equity Services LLC lifted its stake in shares of The Hartford Financial Services Group by 14.1% in the 4th quarter. Commonwealth Equity Services LLC now owns 120,680 shares of the insurance provider’s stock worth $13,202,000 after acquiring an additional 14,950 shares during the period. PGGM Investments increased its holdings in shares of The Hartford Financial Services Group by 2.2% in the 4th quarter. PGGM Investments now owns 93,731 shares of the insurance provider’s stock valued at $10,254,000 after purchasing an additional 2,057 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of The Hartford Financial Services Group in the 4th quarter valued at about $5,975,000. 93.42% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, EVP Robert W. Paiano sold 13,138 shares of the stock in a transaction that occurred 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 completion of the sale, the executive vice president now directly 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 can be accessed through this link. Insiders own 1.60% of the company’s stock.

The Hartford Financial Services Group Stock Up 2.2 %

Shares of NYSE:HIG opened at $119.06 on Friday. The stock has a market capitalization of $33.98 billion, a price-to-earnings ratio of 11.50, a price-to-earnings-growth ratio of 1.12 and a beta of 0.91. The Hartford Financial Services Group, Inc. has a 1-year low of $94.47 and a 1-year high of $124.90. The company’s fifty day moving average is $113.25 and its two-hundred day moving average is $114.91. 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 released 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%. Equities analysts anticipate that The Hartford Financial Services Group, Inc. will post 11.11 EPS for the current year.

The Hartford Financial Services Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 2nd. Stockholders of record on Monday, March 3rd will be given a dividend of $0.52 per share. The ex-dividend date is Monday, March 3rd. This represents a $2.08 annualized dividend and a dividend yield of 1.75%. The Hartford Financial Services Group’s dividend payout ratio (DPR) is 20.10%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on HIG shares. Piper Sandler increased their price target on shares of The Hartford Financial Services Group from $127.00 to $130.00 and gave the company an “overweight” rating in a report on Monday, February 3rd. Barclays raised shares of The Hartford Financial Services Group from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $130.00 to $135.00 in a research report on Monday, January 6th. BMO Capital Markets boosted their target price on shares of The Hartford Financial Services Group from $100.00 to $141.00 and gave the company a “market perform” rating in a report on Wednesday, November 27th. Royal Bank of Canada restated a “sector perform” rating and issued a $125.00 target price on shares of The Hartford Financial Services Group in a report on Monday, February 3rd. Finally, Wells Fargo & Company decreased their price objective on shares of The Hartford Financial Services Group from $130.00 to $126.00 and set an “overweight” rating for the company in a research note on Monday, February 3rd. Nine investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $122.94.

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.