OVERSEA CHINESE BANKING Corp Ltd Invests $571,000 in The Hartford Financial Services Group, Inc. (NYSE:HIG)

OVERSEA CHINESE BANKING Corp Ltd acquired a new position in shares of The Hartford Financial Services Group, Inc. (NYSE:HIG) during the 4th quarter, Holdings Channel reports. The fund acquired 7,103 shares of the insurance provider’s stock, valued at approximately $571,000.

Several other hedge funds have also made changes to their positions in HIG. GoalVest Advisory LLC boosted its holdings in shares of The Hartford Financial Services Group by 464.8% during the fourth quarter. GoalVest Advisory LLC now owns 305 shares of the insurance provider’s stock worth $25,000 after purchasing an additional 251 shares during the last quarter. Turtle Creek Wealth Advisors LLC acquired a new stake in shares of The Hartford Financial Services Group during the fourth quarter worth $26,000. CVA Family Office LLC acquired a new stake in shares of The Hartford Financial Services Group during the fourth quarter worth $27,000. Chilton Capital Management LLC acquired a new stake in shares of The Hartford Financial Services Group during the fourth quarter worth $28,000. Finally, Selway Asset Management acquired a new stake in shares of The Hartford Financial Services Group during the third quarter worth $29,000. Institutional investors and hedge funds own 93.42% of the company’s stock.

The Hartford Financial Services Group Trading Up 2.1 %

NYSE:HIG opened at $98.95 on Monday. The business’s 50-day moving average is $97.80 and its two-hundred day moving average is $85.47. 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 12 month low of $67.05 and a 12 month high of $103.64. The firm has a market capitalization of $29.42 billion, a PE ratio of 12.38, a price-to-earnings-growth ratio of 1.40 and a beta of 0.89.

The Hartford Financial Services Group (NYSE:HIG) last announced its earnings results on Friday, February 2nd. The insurance provider reported $3.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.44 by $0.62. The Hartford Financial Services Group had a return on equity of 19.82% and a net margin of 10.21%. The business had revenue of $6.40 billion for the quarter, compared to analyst estimates of $5.84 billion. During the same period in the previous year, the company earned $2.31 earnings per share. The company’s revenue for the quarter was up 6.4% compared to the same quarter last year. Research analysts predict that The Hartford Financial Services Group, Inc. will post 10.13 earnings per share for the current fiscal year.

The Hartford Financial Services Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 2nd. Stockholders 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 dividend yield of 1.90%. The ex-dividend date of this dividend was Friday, March 1st. The Hartford Financial Services Group’s payout ratio is 23.53%.

Insider Transactions at The Hartford Financial Services Group

In other news, CEO Christopher Swift sold 94,807 shares of The Hartford Financial Services Group stock in a transaction dated Wednesday, January 24th. The stock was sold at an average price of $86.65, for a total transaction of $8,215,026.55. Following the sale, the chief executive officer now directly owns 170,180 shares of the company’s stock, valued at $14,746,097. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, CEO Christopher Swift sold 94,807 shares of the business’s stock in a transaction dated Wednesday, January 24th. The stock was sold at an average price of $86.65, for a total value of $8,215,026.55. Following the completion of the sale, the chief executive officer now directly owns 170,180 shares of the company’s stock, valued at $14,746,097. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Robert W. Paiano sold 14,528 shares of the business’s stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $93.97, for a total value of $1,365,196.16. Following the completion of the sale, the executive vice president now directly owns 46,792 shares of the company’s stock, valued at $4,397,044.24. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 201,308 shares of company stock valued at $18,356,153. 1.60% of the stock is currently owned by insiders.

Analyst Ratings Changes

HIG has been the topic of a number of research analyst reports. Piper Sandler reiterated an “overweight” rating and issued a $115.00 target price on shares of The Hartford Financial Services Group in a report on Monday, April 1st. Roth Mkm lifted their target price on The Hartford Financial Services Group from $80.00 to $90.00 and gave the company a “neutral” rating in a report on Friday, February 2nd. Citigroup lifted their target price on The Hartford Financial Services Group from $109.00 to $113.00 and gave the company a “buy” rating in a report on Tuesday, April 16th. JPMorgan Chase & Co. lifted their target price on The Hartford Financial Services Group from $91.00 to $104.00 and gave the company a “neutral” rating in a report on Monday, April 8th. Finally, TD Cowen lifted their target price on The Hartford Financial Services Group to $144.00 and gave the company a “buy” rating in a report on Wednesday, April 3rd. Seven investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $105.56.

The Hartford Financial Services Group 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.