State of Tennessee Treasury Department Increases Stake in The Hartford Financial Services Group, Inc. (NYSE:HIG)

State of Tennessee Treasury Department raised its holdings in shares of The Hartford Financial Services Group, Inc. (NYSE:HIGFree Report) by 50.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 230,729 shares of the insurance provider’s stock after buying an additional 77,500 shares during the period. State of Tennessee Treasury Department owned about 0.08% of The Hartford Financial Services Group worth $18,546,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in HIG. McGlone Suttner Wealth Management Inc. increased its stake in shares of The Hartford Financial Services Group by 11.7% in the fourth quarter. McGlone Suttner Wealth Management Inc. now owns 3,165 shares of the insurance provider’s stock worth $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 worth $2,875,000. Stifel Financial Corp boosted its position in shares of The Hartford Financial Services Group by 14.2% during the fourth quarter. Stifel Financial Corp now owns 261,995 shares of the insurance provider’s stock worth $21,059,000 after acquiring an additional 32,534 shares during the last quarter. New Millennium Group LLC bought a new position in shares of The Hartford Financial Services Group during the fourth quarter worth $1,552,000. Finally, SteelPeak Wealth LLC bought a new position in The Hartford Financial Services Group during the fourth quarter valued at $1,691,000. 93.42% of the stock is owned by hedge funds and other institutional investors.

The Hartford Financial Services Group Stock Up 0.0 %

HIG stock opened at $100.87 on Tuesday. The firm has a 50 day moving average of $100.00 and a 200 day moving average of $92.34. The stock has a market capitalization of $29.83 billion, a PE ratio of 11.46, a price-to-earnings-growth ratio of 0.83 and a beta of 0.93. 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 Hartford Financial Services Group, Inc. has a 52 week low of $68.82 and a 52 week high of $103.64.

The Hartford Financial Services Group (NYSE:HIGGet Free Report) last released its earnings results on Thursday, April 25th. The insurance provider reported $2.34 EPS for the quarter, missing analysts’ consensus estimates of $2.43 by ($0.09). The company had revenue of $6.42 billion during the quarter, compared to analyst estimates of $6.51 billion. The Hartford Financial Services Group had a return on equity of 20.64% and a net margin of 10.87%. The firm’s revenue for the quarter was up 8.6% on a year-over-year basis. During the same quarter last year, the business earned $1.68 earnings per share. Sell-side analysts forecast that The Hartford Financial Services Group, Inc. will post 9.94 earnings per share for the current year.

The Hartford Financial Services Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 2nd. Shareholders of record on Monday, June 3rd will be paid a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a yield of 1.86%. The ex-dividend date is Monday, June 3rd. The Hartford Financial Services Group’s payout ratio is 21.36%.

Analyst Ratings Changes

Several research firms have commented on HIG. Piper Sandler reiterated an “overweight” rating and set a $115.00 price objective on shares of The Hartford Financial Services Group in a research report on Monday, April 1st. 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 note on Wednesday, April 3rd. Raymond James reissued an “outperform” rating and issued a $120.00 target price (up previously from $100.00) on shares of The Hartford Financial Services Group in a research note on Monday, April 1st. 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 note on Wednesday, April 10th. Finally, 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 note on Thursday, April 11th. Eight research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, The Hartford Financial Services Group has a consensus rating of “Moderate Buy” and an average price target of $105.88.

Read Our Latest Stock Report on The Hartford Financial Services Group

Insider Buying and Selling at The Hartford Financial Services Group

In other The Hartford Financial Services Group news, EVP Jonathan R. Bennett sold 18,335 shares of The Hartford Financial Services Group stock in a transaction that occurred on Thursday, May 9th. The shares were sold at an average price of $100.78, for a total transaction of $1,847,801.30. Following the completion of the sale, the executive vice president now directly owns 25,643 shares in the company, valued at approximately $2,584,301.54. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other The Hartford Financial Services Group news, EVP Jonathan R. Bennett sold 18,335 shares of The Hartford Financial Services Group stock in a transaction that occurred on Thursday, May 9th. The shares were sold at an average price of $100.78, for a total transaction of $1,847,801.30. Following the completion of the sale, the executive vice president now directly owns 25,643 shares in the company, valued at approximately $2,584,301.54. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Michael R. Fisher sold 27,004 shares of The Hartford Financial Services Group stock in a transaction that occurred on 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 transaction, the executive vice president now directly owns 18,906 shares of the company’s stock, valued at $1,869,803.40. The disclosure for this sale can be found here. In the last ninety days, insiders sold 117,415 shares of company stock worth $11,705,195. Company insiders own 1.60% of the company’s stock.

The Hartford Financial Services Group Company Profile

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for The Hartford Financial Services Group (NYSE:HIG)

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