Lighthouse Investment Partners LLC Has $13.63 Million Stock Position in The Hartford Financial Services Group, Inc. (NYSE:HIG)

Lighthouse Investment Partners LLC raised its stake in The Hartford Financial Services Group, Inc. (NYSE:HIG) by 144.8% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 124,569 shares of the insurance provider’s stock after buying an additional 73,693 shares during the period. Lighthouse Investment Partners LLC’s holdings in The Hartford Financial Services Group were worth $13,628,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Gotham Asset Management LLC boosted its position in The Hartford Financial Services Group by 31.8% in the fourth quarter. Gotham Asset Management LLC now owns 145,804 shares of the insurance provider’s stock valued at $15,951,000 after buying an additional 35,138 shares in the last quarter. Focus Partners Wealth raised its stake in shares of The Hartford Financial Services Group by 16.9% during the fourth quarter. Focus Partners Wealth now owns 14,369 shares of the insurance provider’s stock valued at $1,572,000 after acquiring an additional 2,077 shares during the last quarter. Ensign Peak Advisors Inc raised its stake in shares of The Hartford Financial Services Group by 5.2% during the fourth quarter. Ensign Peak Advisors Inc now owns 417,008 shares of the insurance provider’s stock valued at $45,621,000 after acquiring an additional 20,535 shares during the last quarter. Ethic Inc. raised its stake in shares of The Hartford Financial Services Group by 9.9% during the fourth quarter. Ethic Inc. now owns 55,765 shares of the insurance provider’s stock valued at $6,101,000 after acquiring an additional 5,040 shares during the last quarter. Finally, Fred Alger Management LLC raised its stake in shares of The Hartford Financial Services Group by 10.3% during the fourth quarter. Fred Alger Management LLC now owns 34,540 shares of the insurance provider’s stock valued at $3,795,000 after acquiring an additional 3,212 shares during the last quarter. Institutional investors and hedge funds own 93.42% of the company’s stock.

Insider Activity

In other news, CEO Christopher Swift sold 98,061 shares of The Hartford Financial Services Group stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $120.39, for a total transaction of $11,805,563.79. Following the completion of the transaction, 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Robert W. Paiano sold 13,138 shares of The Hartford Financial Services Group 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 transaction, the executive vice president now owns 31,678 shares of the company’s stock, valued at $3,712,661.60. This represents a 29.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 113,429 shares of company stock worth $13,618,028 over the last three months. 1.50% of the stock is currently owned by insiders.

The Hartford Financial Services Group Trading Down 0.6%

HIG opened at $127.50 on Monday. The Hartford Financial Services Group, Inc. has a 1-year low of $98.16 and a 1-year high of $132.49. 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 company has a market cap of $36.22 billion, a P/E ratio of 12.32, a price-to-earnings-growth ratio of 1.12 and a beta of 0.70. The company has a fifty day moving average price of $119.54 and a two-hundred day moving average price of $115.74.

The Hartford Financial Services Group (NYSE:HIG) last posted its quarterly earnings results on Thursday, April 24th. The insurance provider reported $2.20 earnings per share for the quarter, beating the consensus estimate of $2.15 by $0.05. The Hartford Financial Services Group had a net margin of 11.72% and a return on equity of 19.55%. The firm had revenue of $6.81 billion during the quarter, compared to the consensus estimate of $6.97 billion. During the same period in the previous year, the firm posted $2.34 earnings per share. The business’s revenue was up 6.1% compared to the same quarter last year. Analysts predict that The Hartford Financial Services Group, Inc. will post 11.11 EPS for the current fiscal year.

The Hartford Financial Services Group Dividend Announcement

The firm 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 1.63%. The ex-dividend date was Monday, March 3rd. The Hartford Financial Services Group’s dividend payout ratio is currently 20.74%.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on HIG shares. Barclays raised their price target on shares of The Hartford Financial Services Group from $140.00 to $145.00 and gave the company an “overweight” rating in a research note on Friday, April 25th. Royal Bank of Canada reaffirmed 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. Keefe, Bruyette & Woods lowered their target price on shares of The Hartford Financial Services Group from $140.00 to $133.00 and set an “outperform” rating for the company in a research note on Wednesday, April 9th. JPMorgan Chase & Co. lifted their target price on shares of The Hartford Financial Services Group from $125.00 to $129.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 8th. Finally, Piper Sandler lifted their target price on shares of 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. Seven research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, The Hartford Financial Services Group presently has a consensus rating of “Moderate Buy” and an average target price of $126.87.

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.