NewEdge Advisors LLC Boosts Stake in The Hartford Financial Services Group, Inc. (NYSE:HIG)

NewEdge Advisors LLC grew its stake in shares of The Hartford Financial Services Group, Inc. (NYSE:HIG) by 7.4% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 49,283 shares of the insurance provider’s stock after buying an additional 3,380 shares during the period. NewEdge Advisors LLC’s holdings in The Hartford Financial Services Group were worth $5,392,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in HIG. Horizon Advisory Services Inc. acquired a new stake in The Hartford Financial Services Group during the fourth quarter worth approximately $277,000. Assenagon Asset Management S.A. boosted its holdings in shares of The Hartford Financial Services Group by 437.9% during the fourth quarter. Assenagon Asset Management S.A. now owns 871,318 shares of the insurance provider’s stock worth $95,322,000 after purchasing an additional 709,324 shares during the last quarter. Victory Capital Management Inc. grew its position in shares of The Hartford Financial Services Group by 4.5% in the fourth quarter. Victory Capital Management Inc. now owns 4,701,675 shares of the insurance provider’s stock valued at $514,363,000 after purchasing an additional 202,487 shares during the period. Suncoast Equity Management acquired a new position in The Hartford Financial Services Group in the fourth quarter valued at $311,000. Finally, Empowered Funds LLC lifted its position in The Hartford Financial Services Group by 62.1% during the fourth quarter. Empowered Funds LLC now owns 28,622 shares of the insurance provider’s stock worth $3,131,000 after buying an additional 10,964 shares during the period. 93.42% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have recently weighed in on HIG shares. Jefferies Financial Group cut their price objective on shares of The Hartford Financial Services Group from $118.00 to $117.00 and set a “hold” rating on the stock in a report on Friday, April 11th. Royal Bank of Canada restated a “sector perform” rating and set a $125.00 price objective on shares of The Hartford Financial Services Group in a report on Monday, February 3rd. Raymond James lifted their target price on The Hartford Financial Services Group from $125.00 to $135.00 and gave the company an “outperform” rating in a report on Monday, March 31st. Keefe, Bruyette & Woods dropped their price target on The Hartford Financial Services Group from $140.00 to $133.00 and set an “outperform” rating for the company in a research note on Wednesday, April 9th. Finally, JPMorgan Chase & Co. lifted their price objective on The Hartford Financial Services Group from $125.00 to $129.00 and gave the company a “neutral” rating in a research note on Tuesday, April 8th. Eight equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, The Hartford Financial Services Group presently has a consensus rating of “Moderate Buy” and a consensus price target of $124.13.

Insiders Place Their Bets

In related news, EVP Robert W. Paiano sold 13,138 shares of the firm’s stock in a transaction on Tuesday, March 11th. The stock was sold at an average price of $117.20, for a total transaction of $1,539,773.60. Following the transaction, the executive vice president now directly owns 31,678 shares in the company, valued at $3,712,661.60. This trade represents a 29.32 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Christopher Swift sold 98,061 shares of the firm’s stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $120.39, for a total transaction of $11,805,563.79. Following the completion of the transaction, the chief executive officer now owns 211,082 shares in the company, valued at approximately $25,412,161.98. The trade was a 31.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 112,343 shares of company stock valued at $13,488,337 in the last ninety days. Corporate insiders own 1.60% of the company’s stock.

The Hartford Financial Services Group Stock Performance

The Hartford Financial Services Group stock opened at $117.84 on Friday. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.32 and a quick ratio of 0.32. The firm’s fifty day moving average price is $117.07 and its 200 day moving average price is $115.34. The company has a market capitalization of $33.94 billion, a price-to-earnings ratio of 11.39, a price-to-earnings-growth ratio of 1.12 and a beta of 0.68. The Hartford Financial Services Group, Inc. has a 12-month low of $94.47 and a 12-month high of $125.08.

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

The Hartford Financial Services Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 2nd. Shareholders of record on Monday, March 3rd were paid a dividend of $0.52 per share. The ex-dividend date was Monday, March 3rd. This represents a $2.08 dividend on an annualized basis and a yield of 1.77%. The Hartford Financial Services Group’s dividend payout ratio (DPR) is 20.10%.

About The Hartford Financial Services Group

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.