Intech Investment Management LLC Boosts Holdings in The Hartford Financial Services Group, Inc. (NYSE:HIG)

Intech Investment Management LLC boosted its holdings in shares of The Hartford Financial Services Group, Inc. (NYSE:HIG) by 8.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 119,071 shares of the insurance provider’s stock after acquiring an additional 8,801 shares during the period. Intech Investment Management LLC’s holdings in The Hartford Financial Services Group were worth $13,026,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of HIG. Generali Asset Management SPA SGR bought a new stake in shares of The Hartford Financial Services Group in the fourth quarter worth approximately $5,937,000. Mystic Asset Management Inc. bought a new position in shares of The Hartford Financial Services Group in the fourth quarter worth approximately $1,417,000. Flagship Wealth Advisors LLC bought a new position in shares of The Hartford Financial Services Group in the fourth quarter worth approximately $36,000. TCTC Holdings LLC boosted its position in shares of The Hartford Financial Services Group by 49.5% in the fourth quarter. TCTC Holdings LLC now owns 719 shares of the insurance provider’s stock worth $79,000 after purchasing an additional 238 shares during the period. Finally, Parallel Advisors LLC lifted its holdings in shares of The Hartford Financial Services Group by 1.0% in the fourth quarter. Parallel Advisors LLC now owns 17,239 shares of the insurance provider’s stock worth $1,886,000 after buying an additional 164 shares in the last quarter. 93.42% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. Keefe, Bruyette & Woods increased their price objective on shares of The Hartford Financial Services Group from $139.00 to $140.00 and gave the company an “outperform” rating in a research report on Wednesday, February 5th. StockNews.com downgraded shares of The Hartford Financial Services Group from a “buy” rating to a “hold” rating in a research report on Tuesday. BMO Capital Markets raised their price target on shares of 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. Wells Fargo & Company decreased their price objective on shares of The Hartford Financial Services Group from $130.00 to $126.00 and set an “overweight” rating for the company in a research note on Monday, February 3rd. Finally, Piper Sandler lifted their target price on shares of 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. Ten investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, The Hartford Financial Services Group has a consensus rating of “Moderate Buy” and an average target price of $122.94.

Insider Buying and Selling at The Hartford Financial Services Group

In other news, EVP Robert W. Paiano sold 13,138 shares of the business’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 completion of the sale, the executive vice president now owns 31,678 shares in the company, valued at $3,712,661.60. The trade was a 29.32 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 1.60% of the company’s stock.

The Hartford Financial Services Group Stock Performance

Shares of HIG stock opened at $120.48 on Tuesday. 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 Hartford Financial Services Group, Inc. has a fifty-two week low of $94.47 and a fifty-two week high of $124.90. The stock’s 50-day moving average is $113.49 and its two-hundred day moving average is $114.94. The firm has a market cap of $34.38 billion, a P/E ratio of 11.64, a PEG ratio of 1.12 and a beta of 0.91.

The Hartford Financial Services Group (NYSE:HIG) last announced its quarterly earnings data on Thursday, January 30th. The insurance provider reported $2.94 earnings per share 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%. Analysts predict that The Hartford Financial Services Group, Inc. will post 11.11 earnings per share for the current fiscal year.

The Hartford Financial Services Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 2nd. Shareholders 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 annualized dividend and a yield of 1.73%. The Hartford Financial Services Group’s payout ratio 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.