Stevens Capital Management LP Purchases 2,751 Shares of The Hartford Financial Services Group, Inc. (NYSE:HIG)

Stevens Capital Management LP raised its position in The Hartford Financial Services Group, Inc. (NYSE:HIG) by 147.1% during the fourth quarter, Holdings Channel reports. The fund owned 4,621 shares of the insurance provider’s stock after acquiring an additional 2,751 shares during the period. Stevens Capital Management LP’s holdings in The Hartford Financial Services Group were worth $506,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of HIG. AustralianSuper Pty Ltd raised its stake in shares of The Hartford Financial Services Group by 265.5% in the fourth quarter. AustralianSuper Pty Ltd now owns 1,213,074 shares of the insurance provider’s stock worth $132,710,000 after buying an additional 881,224 shares during the period. Assenagon Asset Management S.A. raised its stake in shares of The Hartford Financial Services Group by 437.9% in the fourth quarter. Assenagon Asset Management S.A. now owns 871,318 shares of the insurance provider’s stock worth $95,322,000 after buying an additional 709,324 shares during the period. Proficio Capital Partners LLC raised its stake in shares of The Hartford Financial Services Group by 11,904.7% in the fourth quarter. Proficio Capital Partners LLC now owns 631,565 shares of the insurance provider’s stock worth $632,000 after buying an additional 626,304 shares during the period. Raymond James Financial Inc. bought a new position in shares of The Hartford Financial Services Group in the fourth quarter worth about $65,256,000. Finally, 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 buying an additional 581,103 shares during the period. Institutional investors own 93.42% of the company’s stock.

The Hartford Financial Services Group Price Performance

Shares of The Hartford Financial Services Group stock opened at $119.20 on Monday. The stock has a market cap of $34.02 billion, a price-to-earnings ratio of 11.52, a price-to-earnings-growth ratio of 1.12 and a beta of 0.91. 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 stock has a 50 day moving average price of $114.36 and a 200-day moving average price of $115.03. The Hartford Financial Services Group, Inc. has a one year low of $94.47 and a one year high of $124.90.

The Hartford Financial Services Group (NYSE:HIG) last announced its 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%. Equities analysts expect that The Hartford Financial Services Group, Inc. will post 11.11 EPS for the current year.

The Hartford Financial Services Group Dividend Announcement

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 issued a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 1.74%. The ex-dividend date is Monday, March 3rd. The Hartford Financial Services Group’s payout ratio is currently 20.10%.

Analyst Ratings Changes

Several research firms have recently commented on HIG. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $125.00 price objective on shares of The Hartford Financial Services Group in a research note on Monday, February 3rd. BMO Capital Markets lifted 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 research note on Wednesday, November 27th. StockNews.com downgraded The Hartford Financial Services Group from a “buy” rating to a “hold” rating in a research note on Tuesday, March 18th. Keefe, Bruyette & Woods lifted their target price on The Hartford Financial Services Group from $139.00 to $140.00 and gave the company an “outperform” rating in a research note on Wednesday, February 5th. Finally, Piper Sandler lifted their target price on The Hartford Financial Services Group from $127.00 to $130.00 and gave the company an “overweight” rating in a research note on Monday, February 3rd. Ten investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $122.94.

Insider Activity at The Hartford Financial Services Group

In related 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 transaction, 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Christopher Swift sold 98,061 shares of the business’s stock in a transaction on Monday, March 17th. The shares were sold at an average price of $120.39, for a total value of $11,805,563.79. Following the transaction, the chief executive officer now owns 211,082 shares of the company’s stock, valued at approximately $25,412,161.98. The trade was a 31.72 % decrease in their position. The disclosure for this sale can be found here. 1.60% of the stock is owned by company insiders.

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.