Congress Wealth Management LLC DE Makes New $263,000 Investment in The Hartford Financial Services Group, Inc. (NYSE:HIG)

Congress Wealth Management LLC DE bought a new stake in The Hartford Financial Services Group, Inc. (NYSE:HIG) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 2,408 shares of the insurance provider’s stock, valued at approximately $263,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. HighTower Advisors LLC boosted its stake in shares of The Hartford Financial Services Group by 7.1% in the 3rd quarter. HighTower Advisors LLC now owns 111,134 shares of the insurance provider’s stock valued at $13,063,000 after buying an additional 7,350 shares during the period. Horizon Advisory Services Inc. acquired a new position in The Hartford Financial Services Group during the 4th quarter worth approximately $277,000. Zurich Insurance Group Ltd FI purchased a new stake in shares of The Hartford Financial Services Group in the 3rd quarter valued at approximately $19,005,000. Assenagon Asset Management S.A. raised its holdings in shares of The Hartford Financial Services Group by 437.9% in the 4th quarter. Assenagon Asset Management S.A. now owns 871,318 shares of the insurance provider’s stock valued at $95,322,000 after purchasing an additional 709,324 shares in the last quarter. Finally, Victory Capital Management Inc. lifted its position in shares of The Hartford Financial Services Group by 4.5% during the 4th 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. 93.42% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, EVP Robert W. Paiano sold 13,138 shares of the company’s stock in a transaction on Tuesday, March 11th. The shares were sold at an average price of $117.20, for a total transaction of $1,539,773.60. Following the transaction, the executive vice president now directly owns 31,678 shares of the company’s stock, valued at $3,712,661.60. This represents a 29.32 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Christopher Swift sold 98,061 shares of the stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $120.39, for a total transaction of $11,805,563.79. Following the completion of the transaction, the chief executive officer now owns 211,082 shares of the company’s stock, valued at $25,412,161.98. This 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 insiders.

The Hartford Financial Services Group Trading Down 0.6 %

NYSE:HIG opened at $122.21 on Friday. The Hartford Financial Services Group, Inc. has a 12-month low of $94.47 and a 12-month high of $124.90. The company has a current ratio of 0.32, a quick ratio of 0.32 and a debt-to-equity ratio of 0.27. The stock’s 50 day simple moving average is $115.52 and its 200-day simple moving average is $115.26. The firm has a market cap of $34.88 billion, a P/E ratio of 11.81, 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 (EPS) for the quarter, beating the consensus estimate of $2.68 by $0.26. The Hartford Financial Services Group had a net margin of 11.72% and a return on equity of 19.55%. Equities analysts anticipate 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. Shareholders of record on Monday, March 3rd will be issued a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 1.70%. The ex-dividend date of this dividend is Monday, March 3rd. The Hartford Financial Services Group’s dividend payout ratio is presently 20.10%.

Analyst Ratings Changes

Several research firms recently commented on HIG. StockNews.com lowered The Hartford Financial Services Group from a “buy” rating to a “hold” rating in a report on Tuesday, March 18th. Keefe, Bruyette & Woods raised their target price on The Hartford Financial Services Group from $139.00 to $140.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 5th. Piper Sandler upped their price target 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. Wells Fargo & Company cut their price objective on shares of The Hartford Financial Services Group from $130.00 to $126.00 and set an “overweight” rating on the stock in a report on Monday, February 3rd. Finally, Barclays upgraded shares of 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. Ten research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $122.94.

The Hartford Financial Services Group Company 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.