Graypoint LLC Buys Shares of 3,616 The Hartford Financial Services Group, Inc. (NYSE:HIG)

Graypoint LLC bought a new stake in shares of The Hartford Financial Services Group, Inc. (NYSE:HIG) in the fourth quarter, Holdings Channel reports. The fund bought 3,616 shares of the insurance provider’s stock, valued at approximately $291,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. McGlone Suttner Wealth Management Inc. increased its stake in shares of The Hartford Financial Services Group by 11.7% during the fourth quarter. McGlone Suttner Wealth Management Inc. now owns 3,165 shares of the insurance provider’s stock valued at $254,000 after purchasing an additional 331 shares in the last quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH bought a new position in shares of The Hartford Financial Services Group during the fourth quarter valued at approximately $2,875,000. SteelPeak Wealth LLC bought a new position in shares of The Hartford Financial Services Group during the fourth quarter valued at approximately $1,691,000. New Millennium Group LLC bought a new position in shares of The Hartford Financial Services Group during the fourth quarter valued at approximately $1,552,000. Finally, Moody Aldrich Partners LLC purchased a new stake in shares of The Hartford Financial Services Group during the fourth quarter valued at approximately $1,801,000. Institutional investors own 93.42% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently commented on HIG. Raymond James reiterated an “outperform” rating and set a $120.00 price target (up previously from $100.00) on shares of The Hartford Financial Services Group in a report on Monday, April 1st. Roth Mkm increased their price target on shares of The Hartford Financial Services Group from $80.00 to $90.00 and gave the company a “neutral” rating in a report on Friday, February 2nd. Keefe, Bruyette & Woods increased their price target on shares of The Hartford Financial Services Group from $114.00 to $120.00 and gave the company an “outperform” rating in a report on Wednesday, April 10th. Morgan Stanley raised their target price on shares of The Hartford Financial Services Group from $94.00 to $110.00 and gave the stock an “equal weight” rating in a report on Monday. Finally, UBS Group raised their target price on shares of The Hartford Financial Services Group from $100.00 to $107.00 and gave the stock a “buy” rating in a report on Monday, February 5th. Seven investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $103.82.

The Hartford Financial Services Group Stock Down 0.5 %

Shares of HIG stock opened at $97.31 on Tuesday. The company has a debt-to-equity ratio of 0.29, a current ratio of 0.32 and a quick ratio of 0.32. The company has a market capitalization of $28.93 billion, a price-to-earnings ratio of 12.18, a PEG ratio of 1.38 and a beta of 0.89. The company’s fifty day moving average price is $97.21 and its 200-day moving average price is $84.71. The Hartford Financial Services Group, Inc. has a one year low of $67.05 and a one year high of $103.64.

The Hartford Financial Services Group (NYSE:HIG) last announced its quarterly earnings results on Friday, February 2nd. The insurance provider reported $3.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.44 by $0.62. The Hartford Financial Services Group had a net margin of 10.21% and a return on equity of 19.82%. The company had revenue of $6.40 billion for the quarter, compared to the consensus estimate of $5.84 billion. During the same period in the previous year, the firm posted $2.31 EPS. The Hartford Financial Services Group’s revenue for the quarter was up 6.4% compared to the same quarter last year. Sell-side analysts expect that The Hartford Financial Services Group, Inc. will post 10.12 EPS for the current fiscal year.

The Hartford Financial Services Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 2nd. Shareholders of record on Monday, March 4th were paid a $0.47 dividend. The ex-dividend date of this dividend was Friday, March 1st. This represents a $1.88 dividend on an annualized basis and a dividend yield of 1.93%. The Hartford Financial Services Group’s payout ratio is currently 23.53%.

Insider Buying and Selling

In related news, EVP Michael R. Fisher sold 27,004 shares of The Hartford Financial Services Group stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $98.90, for a total transaction of $2,670,695.60. Following the completion of the transaction, the executive vice president now directly owns 18,906 shares of the company’s stock, valued at approximately $1,869,803.40. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other The Hartford Financial Services Group news, EVP Michael R. Fisher sold 27,004 shares of the business’s stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $98.90, for a total value of $2,670,695.60. Following the completion of the sale, the executive vice president now directly owns 18,906 shares of the company’s stock, valued at approximately $1,869,803.40. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, SVP Allison G. Niderno sold 1,516 shares of the business’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $94.55, for a total transaction of $143,337.80. Following the completion of the sale, the senior vice president now directly owns 630 shares of the company’s stock, valued at $59,566.50. The disclosure for this sale can be found here. In the last ninety days, insiders sold 253,715 shares of company stock valued at $22,789,138. Company insiders own 1.60% of the company’s stock.

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.