Graypoint LLC Takes $291,000 Position in The Hartford Financial Services Group, Inc. (NYSE:HIG)

Graypoint LLC purchased a new stake in The Hartford Financial Services Group, Inc. (NYSE:HIG) in the 4th quarter, according to its most recent disclosure with the SEC. The fund purchased 3,616 shares of the insurance provider’s stock, valued at approximately $291,000.

Several other hedge funds and other institutional investors have also modified their holdings of the business. McGlone Suttner Wealth Management Inc. lifted its position in The Hartford Financial Services Group by 11.7% in the 4th quarter. McGlone Suttner Wealth Management Inc. now owns 3,165 shares of the insurance provider’s stock valued at $254,000 after purchasing an additional 331 shares during the last quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH bought a new stake in The Hartford Financial Services Group in the 4th quarter valued at about $2,875,000. SteelPeak Wealth LLC bought a new stake in The Hartford Financial Services Group in the 4th quarter valued at about $1,691,000. New Millennium Group LLC bought a new stake in The Hartford Financial Services Group in the 4th quarter valued at about $1,552,000. Finally, Moody Aldrich Partners LLC bought a new stake in The Hartford Financial Services Group in the 4th quarter valued at about $1,801,000. 93.42% of the stock is owned by institutional investors and hedge funds.

The Hartford Financial Services Group Stock Performance

The Hartford Financial Services Group stock opened at $97.31 on Tuesday. The firm’s 50 day simple moving average is $97.21 and its 200-day simple moving average is $84.71. The company has a market cap of $28.93 billion, a P/E ratio of 12.18, a price-to-earnings-growth ratio of 1.38 and a beta of 0.89. The company has a debt-to-equity ratio of 0.29, a current ratio of 0.32 and a quick ratio of 0.32. The Hartford Financial Services Group, Inc. has a fifty-two week low of $67.05 and a fifty-two week high of $103.64.

The Hartford Financial Services Group (NYSE:HIG) last announced its quarterly earnings data on Friday, February 2nd. The insurance provider reported $3.06 EPS for the quarter, beating analysts’ consensus estimates of $2.44 by $0.62. The Hartford Financial Services Group had a net margin of 10.21% and a return on equity of 19.82%. The firm had revenue of $6.40 billion for the quarter, compared to the consensus estimate of $5.84 billion. During the same period in the previous year, the firm posted $2.31 earnings per share. The firm’s revenue was up 6.4% on a year-over-year basis. As a group, equities research analysts predict that The Hartford Financial Services Group, Inc. will post 10.12 EPS for the current year.

The Hartford Financial Services Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 2nd. Investors of record on Monday, March 4th were given a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a yield of 1.93%. The ex-dividend date was Friday, March 1st. The Hartford Financial Services Group’s payout ratio is presently 23.53%.

Insider Activity at The Hartford Financial Services Group

In related news, CEO Christopher Swift sold 956 shares of the business’s stock in a transaction that occurred on Monday, January 22nd. The shares were sold at an average price of $86.00, for a total transaction of $82,216.00. Following the transaction, the chief executive officer now directly owns 170,180 shares of the company’s stock, valued at $14,635,480. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other The Hartford Financial Services Group news, CEO Christopher Swift sold 956 shares of the business’s stock in a transaction that occurred on Monday, January 22nd. The shares were sold at an average price of $86.00, for a total value of $82,216.00. Following the completion of the sale, the chief executive officer now directly owns 170,180 shares of the company’s stock, valued at $14,635,480. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Michael R. Fisher sold 27,004 shares of the business’s stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $98.90, for a total transaction of $2,670,695.60. Following the completion of the sale, the executive vice president now directly owns 18,906 shares of the company’s stock, valued at $1,869,803.40. The disclosure for this sale can be found here. Over the last three months, insiders have sold 253,715 shares of company stock valued at $22,789,138. Corporate insiders own 1.60% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have commented on HIG. UBS Group boosted their price target on shares of The Hartford Financial Services Group from $100.00 to $107.00 and gave the stock a “buy” rating in a research report on Monday, February 5th. Keefe, Bruyette & Woods boosted their price target on shares of The Hartford Financial Services Group from $114.00 to $120.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 10th. Piper Sandler restated an “overweight” rating and set a $115.00 price target on shares of The Hartford Financial Services Group in a research report on Monday, April 1st. JPMorgan Chase & Co. boosted their price target on shares of The Hartford Financial Services Group from $91.00 to $104.00 and gave the stock a “neutral” rating in a research report on Monday, April 8th. Finally, Wells Fargo & Company boosted their target price on shares of The Hartford Financial Services Group from $106.00 to $117.00 and gave the stock an “overweight” rating in a report on Thursday, April 11th. Seven equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, The Hartford Financial Services Group has an average rating of “Moderate Buy” and a consensus price target of $103.82.

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.