National Bank of Canada FI Acquires 203,447 Shares of The Hartford Financial Services Group, Inc. (NYSE:HIG)

National Bank of Canada FI raised its holdings in The Hartford Financial Services Group, Inc. (NYSE:HIG) by 119.3% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 373,919 shares of the insurance provider’s stock after acquiring an additional 203,447 shares during the quarter. National Bank of Canada FI’s holdings in The Hartford Financial Services Group were worth $40,909,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. HighTower Advisors LLC grew its holdings in shares of The Hartford Financial Services Group by 7.1% in the third quarter. HighTower Advisors LLC now owns 111,134 shares of the insurance provider’s stock worth $13,063,000 after purchasing an additional 7,350 shares during the last quarter. Horizon Advisory Services Inc. purchased a new stake in The Hartford Financial Services Group in the 4th quarter valued at about $277,000. Zurich Insurance Group Ltd FI bought a new position in The Hartford Financial Services Group in the 3rd quarter worth about $19,005,000. Assenagon Asset Management S.A. increased its position in shares of The Hartford Financial Services Group by 437.9% during the fourth quarter. Assenagon Asset Management S.A. now owns 871,318 shares of the insurance provider’s stock worth $95,322,000 after acquiring an additional 709,324 shares during the period. Finally, Victory Capital Management Inc. boosted its holdings in shares of The Hartford Financial Services Group by 4.5% in the fourth quarter. Victory Capital Management Inc. now owns 4,701,675 shares of the insurance provider’s stock valued at $514,363,000 after purchasing an additional 202,487 shares during the period. Hedge funds and other institutional investors own 93.42% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have commented on HIG shares. Royal Bank of Canada restated a “sector perform” rating and set a $125.00 price objective on shares of The Hartford Financial Services Group in a report on Monday, February 3rd. Wells Fargo & Company decreased their price objective on The Hartford Financial Services Group from $130.00 to $126.00 and set an “overweight” rating for the company in a report on Monday, February 3rd. Raymond James increased their target price on shares of The Hartford Financial Services Group from $125.00 to $135.00 and gave the stock an “outperform” rating in a report on Monday. Piper Sandler boosted their price target on shares of The Hartford Financial Services Group from $130.00 to $145.00 and gave the company an “overweight” rating in a report on Tuesday. Finally, Barclays upgraded shares of The Hartford Financial Services Group from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $130.00 to $135.00 in a research note on Monday, January 6th. Ten equities research 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 company’s stock. Based on data from MarketBeat, The Hartford Financial Services Group currently has a consensus rating of “Moderate Buy” and an average price target of $124.61.

Insider Activity

In other The Hartford Financial Services Group news, EVP Robert W. Paiano sold 13,138 shares of the business’s stock in a transaction dated 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 sale, the executive vice president now owns 31,678 shares in the company, valued at approximately $3,712,661.60. The trade was a 29.32 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Christopher Swift sold 98,061 shares of the firm’s stock in a transaction dated Monday, March 17th. The stock was 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 of the company’s stock, valued at approximately $25,412,161.98. The trade was a 31.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.60% of the company’s stock.

The Hartford Financial Services Group Trading Up 0.5 %

Shares of NYSE:HIG opened at $124.98 on Thursday. The business’s 50-day moving average is $116.27 and its 200 day moving average is $115.46. 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 1 year low of $94.47 and a 1 year high of $125.08. The firm has a market capitalization of $35.67 billion, a P/E ratio of 12.08, a P/E/G ratio of 1.12 and a beta of 0.91.

The Hartford Financial Services Group (NYSE:HIG) last posted 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%. On average, research 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 Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 2nd. Stockholders of record on Monday, March 3rd were paid a dividend of $0.52 per share. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $2.08 annualized dividend and a dividend yield of 1.66%. The Hartford Financial Services Group’s payout ratio is currently 20.10%.

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.