Dimensional Fund Advisors LP Has $411.90 Million Position in The Hartford Financial Services Group, Inc. (NYSE:HIG)

Dimensional Fund Advisors LP reduced its stake in shares of The Hartford Financial Services Group, Inc. (NYSE:HIG) by 0.1% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 5,719,442 shares of the insurance provider’s stock after selling 4,049 shares during the period. Dimensional Fund Advisors LP owned 1.87% of The Hartford Financial Services Group worth $411,900,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Raleigh Capital Management Inc. grew its stake in The Hartford Financial Services Group by 72.4% in the first quarter. Raleigh Capital Management Inc. now owns 362 shares of the insurance provider’s stock valued at $25,000 after purchasing an additional 152 shares in the last quarter. Jones Financial Companies Lllp grew its stake in shares of The Hartford Financial Services Group by 120.6% in the 1st quarter. Jones Financial Companies Lllp now owns 375 shares of the insurance provider’s stock valued at $26,000 after buying an additional 205 shares in the last quarter. Quarry LP bought a new position in The Hartford Financial Services Group during the first quarter valued at approximately $31,000. Massmutual Trust Co. FSB ADV lifted its stake in The Hartford Financial Services Group by 63.6% in the second quarter. Massmutual Trust Co. FSB ADV now owns 525 shares of the insurance provider’s stock valued at $38,000 after acquiring an additional 204 shares during the last quarter. Finally, TCI Wealth Advisors Inc. grew its position in The Hartford Financial Services Group by 41.3% in the first quarter. TCI Wealth Advisors Inc. now owns 616 shares of the insurance provider’s stock worth $43,000 after acquiring an additional 180 shares in the last quarter. 90.81% of the stock is owned by institutional investors and hedge funds.

The Hartford Financial Services Group Trading Up 0.8 %

Shares of The Hartford Financial Services Group stock opened at $74.87 on Wednesday. The Hartford Financial Services Group, Inc. has a 1 year low of $64.25 and a 1 year high of $79.44. The company’s fifty day simple moving average is $72.20 and its 200-day simple moving average is $71.76. The company has a market cap of $22.52 billion, a price-to-earnings ratio of 10.27, a PEG ratio of 1.30 and a beta of 0.82. The company has a current ratio of 0.31, a quick ratio of 0.31 and a debt-to-equity ratio of 0.33.

The Hartford Financial Services Group (NYSE:HIG) last issued its quarterly earnings results on Thursday, October 26th. The insurance provider reported $2.29 earnings per share for the quarter, beating analysts’ consensus estimates of $1.95 by $0.34. The Hartford Financial Services Group had a net margin of 9.62% and a return on equity of 19.05%. The firm had revenue of $6.17 billion during the quarter, compared to the consensus estimate of $6.17 billion. During the same period in the prior year, the firm earned $1.44 EPS. The business’s revenue was up 10.5% on a year-over-year basis. As a group, sell-side analysts expect that The Hartford Financial Services Group, Inc. will post 8.16 EPS for the current year.

The Hartford Financial Services Group Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 3rd. Investors of record on Friday, December 1st will be given a dividend of $0.47 per share. The ex-dividend date is Thursday, November 30th. This is an increase from The Hartford Financial Services Group’s previous quarterly dividend of $0.43. This represents a $1.88 dividend on an annualized basis and a yield of 2.51%. The Hartford Financial Services Group’s dividend payout ratio (DPR) is 23.32%.

Insider Activity at The Hartford Financial Services Group

In other news, EVP Stephanie C. Bush sold 5,000 shares of The Hartford Financial Services Group stock in a transaction that occurred on Tuesday, October 31st. The stock was sold at an average price of $72.74, for a total transaction of $363,700.00. Following the sale, the executive vice president now owns 10,063 shares of the company’s stock, valued at approximately $731,982.62. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders have sold 6,003 shares of company stock worth $436,159 over the last three months. Company insiders own 2.00% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the stock. Raymond James raised their price target on shares of The Hartford Financial Services Group from $85.00 to $90.00 and gave the company an “outperform” rating in a report on Tuesday, October 31st. Citigroup reduced their price target on The Hartford Financial Services Group from $87.00 to $85.00 and set a “buy” rating for the company in a research report on Wednesday, August 9th. Piper Sandler increased their price objective on The Hartford Financial Services Group from $93.00 to $97.00 and gave the company an “overweight” rating in a report on Monday, October 30th. StockNews.com began coverage on The Hartford Financial Services Group in a report on Thursday, October 5th. They issued a “buy” rating for the company. Finally, Morgan Stanley upped their target price on The Hartford Financial Services Group from $76.00 to $78.00 and gave the stock an “equal weight” rating in a research report on Friday, October 27th. Six research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $85.43.

The Hartford Financial Services Group 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.