Quantbot Technologies LP Takes $1.74 Million Position in The Hartford Financial Services Group, Inc. (NYSE:HIG)

Quantbot Technologies LP bought a new position in shares of The Hartford Financial Services Group, Inc. (NYSE:HIG) during the 4th quarter, HoldingsChannel reports. The institutional investor bought 15,888 shares of the insurance provider’s stock, valued at approximately $1,738,000.

Several other hedge funds have also added to or reduced their stakes in HIG. HighTower Advisors LLC raised its stake in shares of The Hartford Financial Services Group by 7.1% during the third quarter. HighTower Advisors LLC now owns 111,134 shares of the insurance provider’s stock valued at $13,063,000 after acquiring an additional 7,350 shares during the last quarter. Dai ichi Life Insurance Company Ltd increased its holdings in The Hartford Financial Services Group by 3.3% in the third quarter. Dai ichi Life Insurance Company Ltd now owns 137,506 shares of the insurance provider’s stock valued at $16,172,000 after purchasing an additional 4,449 shares during the period. Horizon Advisory Services Inc. bought a new position in The Hartford Financial Services Group during the 4th quarter worth $277,000. Zurich Insurance Group Ltd FI acquired a new position in The Hartford Financial Services Group during the 3rd quarter worth about $19,005,000. Finally, Assenagon Asset Management S.A. grew its position in shares of The Hartford Financial Services Group by 437.9% in the 4th quarter. Assenagon Asset Management S.A. now owns 871,318 shares of the insurance provider’s stock valued at $95,322,000 after buying an additional 709,324 shares during the last quarter. 93.42% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other The Hartford Financial Services Group news, CEO Christopher Swift sold 98,061 shares of the business’s stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $120.39, for a total transaction of $11,805,563.79. Following the completion of the sale, the chief executive officer now directly 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 position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Robert W. Paiano sold 13,138 shares of the firm’s stock in a transaction that occurred on Tuesday, March 11th. The shares were sold at an average price of $117.20, for a total value of $1,539,773.60. Following the completion of the transaction, the executive vice president now owns 31,678 shares in the company, valued at $3,712,661.60. This represents a 29.32 % decrease in their position. The disclosure for this sale can be found here. 1.60% of the stock is currently owned by company insiders.

The Hartford Financial Services Group Trading Up 1.6 %

Shares of The Hartford Financial Services Group stock opened at $121.12 on Tuesday. The stock has a market capitalization of $34.57 billion, a PE ratio of 11.70, a price-to-earnings-growth ratio of 1.12 and a beta of 0.91. The Hartford Financial Services Group, Inc. has a 52 week low of $94.47 and a 52 week high of $124.90. The stock has a 50 day moving average price of $114.63 and a two-hundred day moving average price of $115.07. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.32 and a current ratio of 0.32.

The Hartford Financial Services Group (NYSE:HIG) last posted its quarterly earnings results 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%. As a group, equities analysts anticipate that The Hartford Financial Services Group, Inc. will post 11.11 earnings per share for the current fiscal year.

The Hartford Financial Services Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 2nd. Stockholders of record on Monday, March 3rd will be given a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 1.72%. The ex-dividend date is Monday, March 3rd. The Hartford Financial Services Group’s payout ratio is presently 20.10%.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on HIG shares. BMO Capital Markets raised their price objective on The Hartford Financial Services Group from $100.00 to $141.00 and gave the stock a “market perform” rating in a research report on Wednesday, November 27th. Wells Fargo & Company lowered their price target on shares of 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. Piper Sandler boosted their price target on shares of The Hartford Financial Services Group from $127.00 to $130.00 and gave the stock an “overweight” rating in a research report on Monday, February 3rd. 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 stock from $130.00 to $135.00 in a research report on Monday, January 6th. Finally, StockNews.com lowered shares of The Hartford Financial Services Group from a “buy” rating to a “hold” rating in a report on Tuesday, March 18th. Ten equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, The Hartford Financial Services Group presently has a consensus rating of “Moderate Buy” and an average target price of $122.94.

About The Hartford Financial Services Group

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.