16,672 Shares in The Hartford Financial Services Group, Inc. (NYSE:HIG) Bought by ING Groep NV

ING Groep NV acquired a new stake in The Hartford Financial Services Group, Inc. (NYSE:HIG) during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 16,672 shares of the insurance provider’s stock, valued at approximately $1,340,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Daiwa Securities Group Inc. boosted its position in shares of The Hartford Financial Services Group by 10.0% in the third quarter. Daiwa Securities Group Inc. now owns 26,734 shares of the insurance provider’s stock valued at $1,896,000 after acquiring an additional 2,441 shares during the period. California Public Employees Retirement System increased its stake in shares of The Hartford Financial Services Group by 1.6% in the third quarter. California Public Employees Retirement System now owns 601,589 shares of the insurance provider’s stock valued at $42,659,000 after buying an additional 9,614 shares during the period. Tokio Marine Asset Management Co. Ltd. increased its stake in shares of The Hartford Financial Services Group by 6.0% in the third quarter. Tokio Marine Asset Management Co. Ltd. now owns 5,550 shares of the insurance provider’s stock valued at $394,000 after buying an additional 315 shares during the period. Private Advisor Group LLC increased its stake in shares of The Hartford Financial Services Group by 4.4% in the third quarter. Private Advisor Group LLC now owns 14,893 shares of the insurance provider’s stock valued at $1,056,000 after buying an additional 621 shares during the period. Finally, Nomura Asset Management Co. Ltd. increased its stake in shares of The Hartford Financial Services Group by 0.7% in the third quarter. Nomura Asset Management Co. Ltd. now owns 84,221 shares of the insurance provider’s stock valued at $5,972,000 after buying an additional 581 shares during the period. 93.42% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, CFO Beth Ann Costello sold 38,915 shares of the firm’s stock in a transaction on Tuesday, February 27th. The stock was sold at an average price of $95.42, for a total transaction of $3,713,269.30. Following the completion of the sale, the chief financial officer now directly owns 69,169 shares of the company’s stock, valued at approximately $6,600,105.98. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, EVP Adin M. Tooker sold 8,206 shares of The Hartford Financial Services Group stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $95.60, for a total value of $784,493.60. Following the completion of the sale, the executive vice president now owns 25,820 shares of the company’s stock, valued at approximately $2,468,392. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Beth Ann Costello sold 38,915 shares of The Hartford Financial Services Group stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $95.42, for a total value of $3,713,269.30. Following the completion of the sale, the chief financial officer now directly owns 69,169 shares of the company’s stock, valued at approximately $6,600,105.98. The disclosure for this sale can be found here. Insiders sold a total of 166,052 shares of company stock valued at $16,346,296 in the last ninety days. 1.60% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of analysts have weighed in on HIG shares. TD Cowen increased their target price on shares of The Hartford Financial Services Group to $144.00 and gave the company a “buy” rating in a research report on Wednesday, April 3rd. Keefe, Bruyette & Woods increased their target price on shares of The Hartford Financial Services Group from $114.00 to $120.00 and gave the company an “outperform” rating in a research report on Wednesday, April 10th. Evercore ISI increased their target price on shares of The Hartford Financial Services Group from $96.00 to $104.00 and gave the company an “in-line” rating in a research report on Thursday, April 11th. Citigroup increased their target price on shares of The Hartford Financial Services Group from $113.00 to $116.00 and gave the company a “neutral” rating in a research report on Monday, May 13th. Finally, Piper Sandler reissued an “overweight” rating and set a $115.00 target price on shares of The Hartford Financial Services Group in a research report on Monday, April 1st. Eight investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $105.88.

The Hartford Financial Services Group Price Performance

Shares of HIG opened at $102.12 on Wednesday. The Hartford Financial Services Group, Inc. has a 12-month low of $67.42 and a 12-month high of $103.64. The business’s fifty day moving average is $99.96 and its 200 day moving average is $89.80. The company has a quick ratio of 0.31, a current ratio of 0.31 and a debt-to-equity ratio of 0.29. The stock has a market cap of $30.20 billion, a P/E ratio of 11.60, a P/E/G ratio of 1.47 and a beta of 0.90.

The Hartford Financial Services Group (NYSE:HIG) last issued its quarterly earnings data on Thursday, April 25th. The insurance provider reported $2.34 earnings per share for the quarter, missing the consensus estimate of $2.43 by ($0.09). The Hartford Financial Services Group had a net margin of 10.87% and a return on equity of 20.64%. The company had revenue of $6.42 billion for the quarter, compared to the consensus estimate of $6.51 billion. During the same quarter last year, the business posted $1.68 earnings per share. The Hartford Financial Services Group’s revenue was up 8.6% on a year-over-year basis. Sell-side analysts anticipate that The Hartford Financial Services Group, Inc. will post 9.94 earnings per share for the current fiscal year.

The Hartford Financial Services Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 2nd. Stockholders of record on Monday, June 3rd will be given a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a dividend yield of 1.84%. The ex-dividend date of this dividend is Friday, May 31st. The Hartford Financial Services Group’s dividend payout ratio is presently 21.36%.

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.