1620 Investment Advisors Inc. Raises Position in The Hartford Financial Services Group, Inc. (NYSE:HIG)

1620 Investment Advisors Inc. raised its stake in The Hartford Financial Services Group, Inc. (NYSE:HIG) by 20.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 759 shares of the insurance provider’s stock after purchasing an additional 129 shares during the quarter. 1620 Investment Advisors Inc.’s holdings in The Hartford Financial Services Group were worth $83,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Victory Capital Management Inc. raised its stake 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 worth $514,363,000 after purchasing an additional 202,487 shares during the last quarter. Nordea Investment Management AB raised its stake in shares of The Hartford Financial Services Group by 17.3% in the fourth quarter. Nordea Investment Management AB now owns 3,938,421 shares of the insurance provider’s stock worth $430,272,000 after purchasing an additional 581,103 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of The Hartford Financial Services Group by 2.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,913,914 shares of the insurance provider’s stock worth $209,382,000 after purchasing an additional 39,585 shares during the last quarter. Bahl & Gaynor Inc. raised its stake in shares of The Hartford Financial Services Group by 8.5% in the fourth quarter. Bahl & Gaynor Inc. now owns 1,457,147 shares of the insurance provider’s stock worth $159,412,000 after purchasing an additional 114,716 shares during the last quarter. Finally, Robeco Institutional Asset Management B.V. grew its holdings in shares of The Hartford Financial Services Group by 2.9% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 1,234,480 shares of the insurance provider’s stock valued at $135,052,000 after acquiring an additional 34,938 shares in the last quarter. 93.42% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, EVP Robert W. Paiano sold 13,138 shares of the stock in a transaction on 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 sale, 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Christopher Swift sold 98,061 shares of the stock in a transaction on Monday, March 17th. The stock was sold at an average price of $120.39, for a total value of $11,805,563.79. Following the completion of the sale, the chief executive officer now owns 211,082 shares in the company, valued at $25,412,161.98. This trade represents a 31.72 % decrease in their position. The disclosure for this sale can be found here. 1.60% of the stock is currently owned by company insiders.

The Hartford Financial Services Group Price Performance

The Hartford Financial Services Group stock opened at $119.20 on Friday. The Hartford Financial Services Group, Inc. has a one year low of $94.47 and a one year high of $124.90. The business has a fifty day moving average price of $114.36 and a 200-day moving average price of $115.05. 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 has a market capitalization of $34.02 billion, a P/E ratio of 11.52, a PEG ratio of 1.12 and a beta of 0.91.

The Hartford Financial Services Group (NYSE:HIG) last posted its quarterly earnings results on Thursday, January 30th. The insurance provider reported $2.94 EPS for the quarter, topping 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%. As a group, equities research analysts forecast that The Hartford Financial Services Group, Inc. will post 11.11 EPS for the current year.

The Hartford Financial Services Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 2nd. Investors of record on Monday, March 3rd will be given a $0.52 dividend. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.74%. The Hartford Financial Services Group’s dividend payout ratio (DPR) is presently 20.10%.

Wall Street Analysts Forecast Growth

HIG has been the subject of several recent analyst reports. Barclays raised The Hartford Financial Services Group from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $130.00 to $135.00 in a report on Monday, January 6th. Piper Sandler upped their target price on The Hartford Financial Services Group from $127.00 to $130.00 and gave the company an “overweight” rating in a report on Monday, February 3rd. Keefe, Bruyette & Woods upped their target price 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. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $125.00 target price on shares of The Hartford Financial Services Group in a report on Monday, February 3rd. Finally, BMO Capital Markets upped their target price on The Hartford Financial Services Group from $100.00 to $141.00 and gave the company a “market perform” rating in a report on Wednesday, November 27th. Ten equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, The Hartford Financial Services Group has a consensus rating of “Moderate Buy” and a consensus price target of $122.94.

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.