Perigon Wealth Management LLC Increases Stock Holdings in The Hartford Financial Services Group, Inc. (NYSE:HIG)

Perigon Wealth Management LLC grew its position in The Hartford Financial Services Group, Inc. (NYSE:HIG) by 4.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,204 shares of the insurance provider’s stock after buying an additional 143 shares during the quarter. Perigon Wealth Management LLC’s holdings in The Hartford Financial Services Group were worth $258,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Cambridge Investment Research Advisors Inc. raised its stake in The Hartford Financial Services Group by 7.2% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 17,704 shares of the insurance provider’s stock valued at $1,271,000 after purchasing an additional 1,185 shares during the last quarter. D.A. Davidson & CO. increased its stake in shares of The Hartford Financial Services Group by 9.1% during the 1st quarter. D.A. Davidson & CO. now owns 3,952 shares of the insurance provider’s stock valued at $284,000 after acquiring an additional 330 shares during the last quarter. Prudential PLC acquired a new position in shares of The Hartford Financial Services Group during the 1st quarter valued at about $674,000. Cetera Investment Advisers increased its stake in shares of The Hartford Financial Services Group by 88.6% during the 1st quarter. Cetera Investment Advisers now owns 11,238 shares of the insurance provider’s stock valued at $807,000 after acquiring an additional 5,278 shares during the last quarter. Finally, Zions Bancorporation N.A. increased its stake in shares of The Hartford Financial Services Group by 235.4% during the 1st quarter. Zions Bancorporation N.A. now owns 1,070 shares of the insurance provider’s stock valued at $77,000 after acquiring an additional 751 shares during the last quarter. Hedge funds and other institutional investors own 93.42% of the company’s stock.

The Hartford Financial Services Group Stock Down 2.0 %

NYSE HIG opened at $95.78 on Thursday. The stock has a market cap of $28.48 billion, a PE ratio of 11.99, a P/E/G ratio of 1.37 and a beta of 0.89. The Hartford Financial Services Group, Inc. has a fifty-two week low of $67.05 and a fifty-two week high of $103.64. The business has a 50 day moving average price of $97.49 and a two-hundred day moving average price of $84.97. The company has a quick ratio of 0.32, a current ratio of 0.32 and a debt-to-equity ratio of 0.29.

The Hartford Financial Services Group (NYSE:HIG) last released its quarterly earnings results on Friday, February 2nd. The insurance provider reported $3.06 earnings per share for the quarter, topping analysts’ consensus estimates of $2.44 by $0.62. The firm had revenue of $6.40 billion during the quarter, compared to analysts’ expectations of $5.84 billion. The Hartford Financial Services Group had a return on equity of 19.82% and a net margin of 10.21%. The Hartford Financial Services Group’s quarterly revenue was up 6.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.31 EPS. As a group, sell-side analysts predict 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 announced a quarterly dividend, which was paid on Tuesday, April 2nd. Stockholders of record on Monday, March 4th were paid a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a dividend yield of 1.96%. The ex-dividend date was Friday, March 1st. The Hartford Financial Services Group’s dividend payout ratio (DPR) is currently 23.53%.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the stock. Keefe, Bruyette & Woods upped their price objective 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. Evercore ISI boosted their target price on The Hartford Financial Services Group from $96.00 to $104.00 and gave the stock an “in-line” rating in a report on Thursday, April 11th. JPMorgan Chase & Co. boosted their target price on The Hartford Financial Services Group from $91.00 to $104.00 and gave the stock a “neutral” rating in a report on Monday, April 8th. UBS Group boosted their target price on 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. Finally, Piper Sandler reiterated an “overweight” rating and set a $115.00 target price on shares of The Hartford Financial Services Group in a report on Monday, April 1st. Seven research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $105.56.

Insider Activity

In other news, EVP Michael R. Fisher sold 27,004 shares of the stock in a transaction that occurred on Wednesday, March 13th. The stock was 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 in the company, valued at approximately $1,869,803.40. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other news, EVP Michael R. Fisher sold 27,004 shares of the stock in a transaction that occurred on Wednesday, March 13th. The stock was 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 in the company, valued at approximately $1,869,803.40. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Christopher Swift sold 956 shares of the stock in a transaction that occurred on Monday, January 22nd. The shares were sold at an average price of $86.00, for a total value of $82,216.00. Following the transaction, the chief executive officer now owns 170,180 shares of the company’s stock, valued at $14,635,480. The disclosure for this sale can be found here. In the last three months, insiders sold 249,082 shares of company stock worth $22,404,321. 1.60% of the stock is currently owned by insiders.

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.