Callan Family Office LLC Takes $447,000 Position in The Hartford Financial Services Group, Inc. (NYSE:HIG)

Callan Family Office LLC purchased a new position in The Hartford Financial Services Group, Inc. (NYSE:HIG) in the 4th quarter, HoldingsChannel reports. The institutional investor purchased 4,087 shares of the insurance provider’s stock, valued at approximately $447,000.

Other hedge funds have also recently made changes to their positions in the company. Inceptionr LLC lifted its position in shares of The Hartford Financial Services Group by 180.2% during the fourth quarter. Inceptionr LLC now owns 9,483 shares of the insurance provider’s stock valued at $1,037,000 after buying an additional 6,099 shares during the last quarter. Raymond James Financial Inc. bought a new position in shares of The Hartford Financial Services Group during the 4th quarter worth approximately $65,256,000. Arizona State Retirement System raised its stake in shares of The Hartford Financial Services Group by 0.3% during the 4th quarter. Arizona State Retirement System now owns 85,108 shares of the insurance provider’s stock worth $9,311,000 after acquiring an additional 277 shares in the last quarter. Proficio Capital Partners LLC lifted its position in The Hartford Financial Services Group by 9.7% during the fourth quarter. Proficio Capital Partners LLC now owns 5,773 shares of the insurance provider’s stock valued at $632,000 after acquiring an additional 512 shares during the last quarter. Finally, M&T Bank Corp boosted its stake in The Hartford Financial Services Group by 13.9% in the fourth quarter. M&T Bank Corp now owns 46,868 shares of the insurance provider’s stock valued at $5,127,000 after acquiring an additional 5,702 shares in the last quarter. 93.42% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have recently issued reports on HIG. Piper Sandler upped their price target on The Hartford Financial Services Group from $127.00 to $130.00 and gave the stock an “overweight” rating in a research report on Monday, February 3rd. 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 research report on Monday, January 6th. Keefe, Bruyette & Woods raised their price target on The Hartford Financial Services Group from $139.00 to $140.00 and gave the stock an “outperform” rating in a report on Wednesday, February 5th. Wells Fargo & Company dropped their price target on The Hartford Financial Services Group from $130.00 to $126.00 and set an “overweight” rating on the stock in a research note on Monday, February 3rd. Finally, BMO Capital Markets increased their price objective on shares of The Hartford Financial Services Group from $100.00 to $141.00 and gave the company a “market perform” rating in a research report on Wednesday, November 27th. Ten investment 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. Based on data from MarketBeat, The Hartford Financial Services Group currently has a consensus rating of “Moderate Buy” and an average target price of $122.94.

The Hartford Financial Services Group Stock Performance

Shares of HIG opened at $117.92 on Monday. The stock has a market capitalization of $33.65 billion, a P/E ratio of 11.39, a P/E/G ratio of 1.12 and a beta of 0.91. The Hartford Financial Services Group, Inc. has a 1 year low of $94.47 and a 1 year high of $124.90. The company’s fifty day moving average is $112.46 and its two-hundred day moving average is $114.76. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.32 and a current ratio of 0.32.

The Hartford Financial Services Group (NYSE:HIG) last announced its quarterly earnings results on Thursday, January 30th. The insurance provider reported $2.94 EPS for the quarter, topping the consensus estimate 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, sell-side 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 Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 2nd. Shareholders of record on Monday, March 3rd will be paid a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.76%. The ex-dividend date is Monday, March 3rd. The Hartford Financial Services Group’s dividend payout ratio is presently 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.