Kowal Investment Group LLC Invests $250,000 in The Hartford Financial Services Group, Inc. (NYSE:HIG)

Kowal Investment Group LLC acquired a new position in The Hartford Financial Services Group, Inc. (NYSE:HIG) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 2,424 shares of the insurance provider’s stock, valued at approximately $250,000.

A number of other institutional investors have also recently made changes to their positions in HIG. LPL Financial LLC lifted its position in The Hartford Financial Services Group by 6.8% during the 3rd quarter. LPL Financial LLC now owns 107,297 shares of the insurance provider’s stock worth $7,608,000 after acquiring an additional 6,840 shares during the period. Trexquant Investment LP acquired a new stake in The Hartford Financial Services Group during the 3rd quarter worth about $2,722,000. Tower Research Capital LLC TRC lifted its position in The Hartford Financial Services Group by 117.9% during the 3rd quarter. Tower Research Capital LLC TRC now owns 24,875 shares of the insurance provider’s stock worth $1,764,000 after acquiring an additional 13,461 shares during the period. Gotham Asset Management LLC lifted its position in The Hartford Financial Services Group by 4.0% during the 3rd quarter. Gotham Asset Management LLC now owns 60,879 shares of the insurance provider’s stock worth $4,317,000 after acquiring an additional 2,348 shares during the period. Finally, AQR Capital Management LLC lifted its position in The Hartford Financial Services Group by 23.6% during the 3rd quarter. AQR Capital Management LLC now owns 1,179,682 shares of the insurance provider’s stock worth $83,651,000 after acquiring an additional 224,979 shares during the period. Institutional investors and hedge funds own 93.42% of the company’s stock.

Insider Transactions at The Hartford Financial Services Group

In other news, CFO Beth Ann Costello sold 72,076 shares of the business’s stock in a transaction that occurred on Wednesday, May 8th. The stock was sold at an average price of $99.71, for a total transaction of $7,186,697.96. Following the transaction, the chief financial officer now directly owns 69,169 shares in the company, valued at approximately $6,896,840.99. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, EVP Jonathan R. Bennett sold 18,335 shares of the company’s stock in a transaction that occurred on Thursday, May 9th. The stock was sold at an average price of $100.78, for a total value of $1,847,801.30. Following the transaction, the executive vice president now directly owns 25,643 shares in the company, valued at $2,584,301.54. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Beth Ann Costello sold 72,076 shares of the company’s stock in a transaction that occurred on Wednesday, May 8th. The shares were sold at an average price of $99.71, for a total value of $7,186,697.96. Following the completion of the transaction, the chief financial officer now owns 69,169 shares in the company, valued at $6,896,840.99. The disclosure for this sale can be found here. Insiders own 1.60% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have commented on HIG shares. Morgan Stanley lowered their price target on The Hartford Financial Services Group from $110.00 to $109.00 and set an “equal weight” rating for the company in a research report on Friday, April 26th. Argus lifted their price objective on The Hartford Financial Services Group from $104.00 to $110.00 and gave the company a “buy” rating in a research note on Wednesday, May 15th. Piper Sandler reiterated an “overweight” rating and set a $115.00 price objective on shares of The Hartford Financial Services Group in a research note on Monday, April 1st. TD Cowen lifted their price objective on The Hartford Financial Services Group to $144.00 and gave the company a “buy” rating in a research note on Wednesday, April 3rd. Finally, Keefe, Bruyette & Woods lifted their price objective on The Hartford Financial Services Group from $114.00 to $120.00 and gave the company an “outperform” rating in a research note on Wednesday, April 10th. Eight analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $106.71.

The Hartford Financial Services Group Price Performance

Shares of The Hartford Financial Services Group stock opened at $99.89 on Tuesday. The Hartford Financial Services Group, Inc. has a twelve month low of $68.82 and a twelve month high of $105.20. The business has a 50-day moving average price of $100.65 and a 200 day moving average price of $94.63. The company has a quick ratio of 0.31, a current ratio of 0.31 and a debt-to-equity ratio of 0.29. The firm has a market cap of $29.54 billion, a PE ratio of 11.35, a P/E/G ratio of 0.83 and a beta of 0.93.

The Hartford Financial Services Group (NYSE:HIG) last posted its quarterly earnings data on Thursday, April 25th. The insurance provider reported $2.34 EPS for the quarter, missing the consensus estimate of $2.43 by ($0.09). The Hartford Financial Services Group had a return on equity of 20.64% and a net margin of 10.87%. The firm had revenue of $6.42 billion for the quarter, compared to analysts’ expectations of $6.51 billion. During the same quarter last year, the firm posted $1.68 earnings per share. The Hartford Financial Services Group’s quarterly revenue was up 8.6% on a year-over-year basis. Sell-side analysts predict that The Hartford Financial Services Group, Inc. will post 9.91 earnings per share for the current fiscal year.

The Hartford Financial Services Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 2nd. Stockholders of record on Monday, June 3rd will be issued a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a dividend yield of 1.88%. The ex-dividend date of this dividend is Monday, June 3rd. The Hartford Financial Services Group’s dividend payout ratio is currently 21.36%.

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.