The Hartford Financial Services Group, Inc. (NYSE:HIG) Shares Acquired by Grantham Mayo Van Otterloo & Co. LLC

Grantham Mayo Van Otterloo & Co. LLC increased its stake in shares of The Hartford Financial Services Group, Inc. (NYSE:HIG) by 23.0% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 60,416 shares of the insurance provider’s stock after purchasing an additional 11,300 shares during the period. Grantham Mayo Van Otterloo & Co. LLC’s holdings in The Hartford Financial Services Group were worth $4,210,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Jones Financial Companies Lllp raised its holdings in shares of The Hartford Financial Services Group by 120.6% in the first quarter. Jones Financial Companies Lllp now owns 375 shares of the insurance provider’s stock worth $26,000 after acquiring an additional 205 shares during the last quarter. Arlington Partners LLC purchased a new stake in The Hartford Financial Services Group during the 1st quarter worth about $27,000. Dark Forest Capital Management LP purchased a new stake in The Hartford Financial Services Group during the 4th quarter worth about $29,000. MV Capital Management Inc. raised its stake in The Hartford Financial Services Group by 372.7% in the 1st quarter. MV Capital Management Inc. now owns 416 shares of the insurance provider’s stock valued at $29,000 after purchasing an additional 328 shares during the last quarter. Finally, TCI Wealth Advisors Inc. lifted its holdings in The Hartford Financial Services Group by 41.3% in the 1st quarter. TCI Wealth Advisors Inc. now owns 616 shares of the insurance provider’s stock valued at $43,000 after purchasing an additional 180 shares in the last quarter. Hedge funds and other institutional investors own 90.81% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently commented on HIG shares. JPMorgan Chase & Co. lifted their price target on shares of The Hartford Financial Services Group from $86.00 to $94.00 in a report on Thursday, July 6th. Morgan Stanley began coverage on shares of The Hartford Financial Services Group in a research note on Tuesday, June 20th. They issued an “equal weight” rating and a $71.00 target price for the company. Citigroup reduced their price target on The Hartford Financial Services Group from $87.00 to $85.00 and set a “buy” rating on the stock in a research note on Wednesday, August 9th. Barclays lowered their price objective on The Hartford Financial Services Group from $87.00 to $83.00 in a research report on Friday, July 28th. Finally, Piper Sandler reduced their target price on The Hartford Financial Services Group from $94.00 to $93.00 and set an “overweight” rating on the stock in a research report on Monday, July 31st. Five equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $85.46.

The Hartford Financial Services Group Stock Performance

NYSE HIG opened at $72.43 on Monday. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.31 and a quick ratio of 0.31. The Hartford Financial Services Group, Inc. has a 1-year low of $60.17 and a 1-year high of $79.44. The firm has a market capitalization of $22.15 billion, a P/E ratio of 11.64, a P/E/G ratio of 1.33 and a beta of 0.86. The business’s 50-day simple moving average is $72.48 and its 200-day simple moving average is $71.46.

The Hartford Financial Services Group (NYSE:HIG) last announced its quarterly earnings results on Thursday, July 27th. The insurance provider reported $1.88 earnings per share for the quarter, beating analysts’ consensus estimates of $1.85 by $0.03. The Hartford Financial Services Group had a net margin of 8.53% and a return on equity of 17.54%. The firm had revenue of $4.08 billion for the quarter, compared to analysts’ expectations of $4.09 billion. Equities analysts predict that The Hartford Financial Services Group, Inc. will post 7.8 EPS for the current year.

The Hartford Financial Services Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 3rd. Investors of record on Friday, September 1st will be given a dividend of $0.425 per share. The ex-dividend date of this dividend is Thursday, August 31st. This represents a $1.70 dividend on an annualized basis and a yield of 2.35%. The Hartford Financial Services Group’s dividend payout ratio (DPR) is 27.33%.

Insider Activity at The Hartford Financial Services Group

In other The Hartford Financial Services Group news, EVP Stephanie C. Bush sold 3,500 shares of the business’s stock in a transaction dated Wednesday, August 2nd. The stock was sold at an average price of $72.40, for a total transaction of $253,400.00. Following the transaction, the executive vice president now owns 15,063 shares in the company, valued at $1,090,561.20. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In the last three months, insiders sold 4,172 shares of company stock worth $302,012. Corporate insiders own 2.00% of the company’s stock.

The Hartford Financial Services Group Company Profile

The Hartford Financial Services Group, Inc 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, and reinsurance through regional offices, branches, sales and policyholder service centers, independent retail agents and brokers, wholesale agents, and reinsurance brokers.