Horizon Investment Services LLC Increases Stake in The Hartford Financial Services Group, Inc. (NYSE:HIG)

Horizon Investment Services LLC raised its holdings in shares of The Hartford Financial Services Group, Inc. (NYSE:HIG) by 3.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 39,886 shares of the insurance provider’s stock after buying an additional 1,441 shares during the quarter. The Hartford Financial Services Group comprises about 1.9% of Horizon Investment Services LLC’s portfolio, making the stock its 17th biggest holding. Horizon Investment Services LLC’s holdings in The Hartford Financial Services Group were worth $4,364,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the business. Victory Capital Management Inc. boosted its stake in The Hartford Financial Services Group by 4.5% during the fourth quarter. Victory Capital Management Inc. now owns 4,701,675 shares of the insurance provider’s stock worth $514,363,000 after buying an additional 202,487 shares during the last quarter. Nordea Investment Management AB boosted its position in shares of The Hartford Financial Services Group by 17.3% during the 4th quarter. Nordea Investment Management AB now owns 3,938,421 shares of the insurance provider’s stock valued at $430,272,000 after acquiring an additional 581,103 shares during the last quarter. Norges Bank purchased a new stake in shares of The Hartford Financial Services Group in the fourth quarter valued at about $416,340,000. Charles Schwab Investment Management Inc. increased its position in The Hartford Financial Services Group by 2.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,913,914 shares of the insurance provider’s stock worth $209,382,000 after purchasing an additional 39,585 shares during the last quarter. Finally, Bahl & Gaynor Inc. raised its position in shares of The Hartford Financial Services Group by 8.5% during the 4th quarter. Bahl & Gaynor Inc. now owns 1,457,147 shares of the insurance provider’s stock valued at $159,412,000 after buying an additional 114,716 shares during the period. 93.42% of the stock is currently owned by institutional investors and hedge funds.

The Hartford Financial Services Group Stock Performance

Shares of HIG stock opened at $122.21 on Friday. 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 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 market cap of $34.88 billion, a price-to-earnings ratio of 11.81, a price-to-earnings-growth ratio of 1.12 and a beta of 0.91. The stock has a 50 day simple moving average of $115.52 and a 200-day simple moving average of $115.27.

The Hartford Financial Services Group (NYSE:HIG) last released its earnings results on Thursday, January 30th. The insurance provider reported $2.94 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%. On average, equities analysts forecast that The Hartford Financial Services Group, Inc. will post 11.11 EPS for the current year.

The Hartford Financial Services Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 2nd. Shareholders of record on Monday, March 3rd will be given a dividend of $0.52 per share. The ex-dividend date is Monday, March 3rd. This represents a $2.08 annualized dividend and a yield of 1.70%. The Hartford Financial Services Group’s payout ratio is currently 20.10%.

Analyst Ratings Changes

A number of research analysts have commented on HIG shares. Wells Fargo & Company decreased their target price on shares of The Hartford Financial Services Group from $130.00 to $126.00 and set an “overweight” rating on the stock in a research report on Monday, February 3rd. Barclays upgraded The Hartford Financial Services Group from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $130.00 to $135.00 in a report on Monday, January 6th. Piper Sandler increased their price objective on shares of The Hartford Financial Services Group from $127.00 to $130.00 and gave the company an “overweight” rating in a research report on Monday, February 3rd. 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. Finally, Royal Bank of Canada reiterated a “sector perform” rating and set a $125.00 price target on shares of The Hartford Financial Services Group in a research note on Monday, February 3rd. Ten research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $122.94.

Insider Activity

In related news, EVP Robert W. Paiano sold 13,138 shares of The Hartford Financial Services Group stock in a transaction on 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 completion of the transaction, the executive vice president now directly owns 31,678 shares of the company’s stock, valued at approximately $3,712,661.60. The trade was a 29.32 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Christopher Swift sold 98,061 shares of the company’s stock in a transaction 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 sale, the chief executive officer now directly owns 211,082 shares in the company, valued at $25,412,161.98. This trade represents 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 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.