Pictet Asset Management Holding SA Has $41.99 Million Stock Holdings in The Hartford Financial Services Group, Inc. (NYSE:HIG)

Pictet Asset Management Holding SA raised its stake in The Hartford Financial Services Group, Inc. (NYSE:HIG) by 4.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 383,830 shares of the insurance provider’s stock after buying an additional 15,287 shares during the period. Pictet Asset Management Holding SA’s holdings in The Hartford Financial Services Group were worth $41,991,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of HIG. Catalyst Financial Partners LLC lifted its position in shares of The Hartford Financial Services Group by 3.0% during the 4th quarter. Catalyst Financial Partners LLC now owns 3,079 shares of the insurance provider’s stock valued at $337,000 after acquiring an additional 90 shares during the period. Barrett & Company Inc. raised its holdings in shares of The Hartford Financial Services Group by 46.5% during the fourth quarter. Barrett & Company Inc. now owns 293 shares of the insurance provider’s stock valued at $32,000 after purchasing an additional 93 shares during the period. Wilmington Savings Fund Society FSB boosted its position in shares of The Hartford Financial Services Group by 2.2% during the 4th quarter. Wilmington Savings Fund Society FSB now owns 4,468 shares of the insurance provider’s stock worth $489,000 after purchasing an additional 97 shares in the last quarter. Lifestyle Asset Management Inc. grew its stake in shares of The Hartford Financial Services Group by 0.9% in the 4th quarter. Lifestyle Asset Management Inc. now owns 11,499 shares of the insurance provider’s stock valued at $1,258,000 after buying an additional 98 shares during the period. Finally, Smithfield Trust Co increased its position in The Hartford Financial Services Group by 26.7% in the 4th quarter. Smithfield Trust Co now owns 475 shares of the insurance provider’s stock valued at $51,000 after buying an additional 100 shares in the last quarter. Institutional investors own 93.42% of the company’s stock.

Analyst Ratings Changes

Several research analysts have issued reports on HIG shares. Piper Sandler increased their price target on The Hartford Financial Services Group from $127.00 to $130.00 and gave the stock an “overweight” rating in a report on Monday, February 3rd. Wells Fargo & Company reduced their price target 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 report on Monday, February 3rd. Barclays upgraded shares of The Hartford Financial Services Group from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $130.00 to $135.00 in a research note on Monday, January 6th. 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. Finally, Keefe, Bruyette & Woods boosted their target price on shares of 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. 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 data from MarketBeat.com, The Hartford Financial Services Group presently has a consensus rating of “Moderate Buy” and an average target price of $122.94.

Insiders Place Their Bets

In other news, EVP Robert W. Paiano sold 13,138 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the executive vice president now owns 31,678 shares in the company, valued at $3,712,661.60. This trade represents a 29.32 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Christopher Swift sold 98,061 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the chief executive officer now owns 211,082 shares in the company, 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. Insiders own 1.60% of the company’s stock.

The Hartford Financial Services Group Stock Performance

HIG stock opened at $122.21 on Monday. The company has a quick ratio of 0.32, a current ratio of 0.32 and a debt-to-equity ratio of 0.27. The firm has a market cap of $34.88 billion, a PE ratio of 11.81, a P/E/G ratio of 1.12 and a beta of 0.91. The business has a 50 day moving average of $115.52 and a 200-day moving average of $115.27. The Hartford Financial Services Group, Inc. has a 12-month low of $94.47 and a 12-month high of $124.90.

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 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, sell-side analysts expect that The Hartford Financial Services Group, Inc. will post 11.11 earnings per share for the current year.

The Hartford Financial Services Group Announces Dividend

The business 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. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $2.08 dividend on an annualized basis and a yield of 1.70%. The Hartford Financial Services Group’s dividend payout ratio (DPR) is presently 20.10%.

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.