ExodusPoint Capital Management LP Acquires Shares of 57,195 The Hartford Financial Services Group, Inc. (NYSE:HIG)

ExodusPoint Capital Management LP purchased a new position in The Hartford Financial Services Group, Inc. (NYSE:HIG) during the 4th quarter, Holdings Channel.com reports. The institutional investor purchased 57,195 shares of the insurance provider’s stock, valued at approximately $6,257,000.

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

Insider Activity

In other The Hartford Financial Services Group news, EVP Robert W. Paiano sold 13,138 shares of the stock in a transaction dated 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 sale, the executive vice president now directly owns 31,678 shares in the company, valued at $3,712,661.60. This represents a 29.32 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Christopher Swift sold 1,144 shares of the company’s stock in a transaction that occurred on Wednesday, April 2nd. The stock was sold at an average price of $125.00, for a total transaction of $143,000.00. Following the sale, the chief executive officer now directly owns 211,082 shares of the company’s stock, valued at approximately $26,385,250. This trade represents a 0.54 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 112,343 shares of company stock valued at $13,488,337. 1.60% of the stock is owned by insiders.

The Hartford Financial Services Group Stock Performance

NYSE HIG opened at $113.56 on Friday. The firm has a market capitalization of $32.41 billion, a P/E ratio of 10.97, a price-to-earnings-growth ratio of 1.12 and a beta of 0.68. 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 firm’s fifty day moving average price is $116.56 and its two-hundred day moving average price is $115.48. The Hartford Financial Services Group, Inc. has a 1 year low of $94.47 and a 1 year high of $125.08.

The Hartford Financial Services Group (NYSE:HIG) last issued its earnings results 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 net margin of 11.72% and a return on equity of 19.55%. As a group, research 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 company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 2nd. Stockholders of record on Monday, March 3rd were issued a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.83%. The ex-dividend date of this dividend was Monday, March 3rd. The Hartford Financial Services Group’s dividend payout ratio is presently 20.10%.

Wall Street Analysts Forecast Growth

HIG has been the topic of several research analyst reports. Piper Sandler raised their price objective on The Hartford Financial Services Group from $130.00 to $145.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 1st. Barclays upgraded The Hartford Financial Services Group from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $130.00 to $135.00 in a research report on Monday, January 6th. Keefe, Bruyette & Woods upped their price target on shares of The Hartford Financial Services Group from $139.00 to $140.00 and gave the company an “outperform” rating in a report on Wednesday, February 5th. StockNews.com cut shares of The Hartford Financial Services Group from a “buy” rating to a “hold” rating in a research report on Tuesday, March 18th. Finally, 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. Ten equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, The Hartford Financial Services Group has an average rating of “Moderate Buy” and a consensus target price of $123.47.

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.