Dynamic Technology Lab Private Ltd Purchases New Holdings in The Hartford Financial Services Group, Inc. (NYSE:HIG)

Dynamic Technology Lab Private Ltd acquired a new position in The Hartford Financial Services Group, Inc. (NYSE:HIG) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm acquired 18,650 shares of the insurance provider’s stock, valued at approximately $2,040,000.

Several other institutional investors also recently modified their holdings of HIG. Resona Asset Management Co. Ltd. bought a new position in The Hartford Financial Services Group in the fourth quarter worth $9,549,000. Integrated Quantitative Investments LLC bought a new position in shares of The Hartford Financial Services Group during the 4th quarter worth about $418,000. ExodusPoint Capital Management LP acquired a new stake in shares of The Hartford Financial Services Group during the 4th quarter valued at about $6,257,000. Westpac Banking Corp increased its stake in The Hartford Financial Services Group by 42.5% in the fourth quarter. Westpac Banking Corp now owns 39,678 shares of the insurance provider’s stock valued at $4,341,000 after acquiring an additional 11,836 shares during the period. Finally, Huntington National Bank raised its position in The Hartford Financial Services Group by 1.7% in the fourth quarter. Huntington National Bank now owns 10,621 shares of the insurance provider’s stock worth $1,162,000 after purchasing an additional 180 shares in the last quarter. Institutional investors and hedge funds own 93.42% of the company’s stock.

Insider Activity

In related news, CEO Christopher Swift sold 1,144 shares of the company’s stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $125.00, for a total value of $143,000.00. Following the completion of the sale, the chief executive officer now owns 211,082 shares in the company, valued at approximately $26,385,250. This represents a 0.54 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Robert W. Paiano sold 13,138 shares of the firm’s stock in a transaction dated Tuesday, March 11th. The stock was sold at an average price of $117.20, for a total value of $1,539,773.60. Following the transaction, the executive vice president now owns 31,678 shares in the company, valued at approximately $3,712,661.60. This trade represents a 29.32 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 112,343 shares of company stock valued at $13,488,337 in the last 90 days. 1.60% of the stock is owned by company insiders.

The Hartford Financial Services Group Trading Down 8.0 %

Shares of HIG opened at $113.56 on Friday. The stock’s fifty day simple moving average is $116.56 and its 200-day simple moving average is $115.49. The firm has a market capitalization of $32.41 billion, a PE ratio of 10.97, a price-to-earnings-growth ratio of 1.12 and a beta of 0.91. The Hartford Financial Services Group, Inc. has a 12-month low of $94.47 and a 12-month high of $125.08. The company has a quick ratio of 0.32, a current ratio of 0.32 and a debt-to-equity ratio of 0.27.

The Hartford Financial Services Group (NYSE:HIG) last released its earnings results on Thursday, January 30th. The insurance provider reported $2.94 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.68 by $0.26. The Hartford Financial Services Group had a net margin of 11.72% and a return on equity of 19.55%. As a group, research analysts predict that The Hartford Financial Services Group, Inc. will post 11.11 earnings per share for the current year.

The Hartford Financial Services Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 2nd. Shareholders of record on Monday, March 3rd were given a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 1.83%. The ex-dividend date of this dividend was Monday, March 3rd. The Hartford Financial Services Group’s payout ratio is 20.10%.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on HIG. StockNews.com downgraded The Hartford Financial Services Group from a “buy” rating to a “hold” rating in a report on Tuesday, March 18th. Barclays upgraded The Hartford Financial Services Group from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $130.00 to $135.00 in a research report on Monday, January 6th. Keefe, Bruyette & Woods lifted their price objective on The Hartford Financial Services Group from $139.00 to $140.00 and gave the company an “outperform” rating in a report on Wednesday, February 5th. Piper Sandler upped their target price on shares of The Hartford Financial Services Group from $130.00 to $145.00 and gave the stock an “overweight” rating in a report on Tuesday. Finally, Wells Fargo & Company cut their price target on shares of The Hartford Financial Services Group from $130.00 to $126.00 and set an “overweight” rating for the company in a report on Monday, February 3rd. Ten research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $123.47.

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.