Blueshift Asset Management LLC Purchases New Stake in The Hartford Financial Services Group, Inc. (NYSE:HIG)

Blueshift Asset Management LLC acquired a new position in shares of The Hartford Financial Services Group, Inc. (NYSE:HIG) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 2,461 shares of the insurance provider’s stock, valued at approximately $269,000.

Several other hedge funds have also recently bought and sold shares of the company. Teacher Retirement System of Texas boosted its position in shares of The Hartford Financial Services Group by 68.7% during the 4th quarter. Teacher Retirement System of Texas now owns 723,925 shares of the insurance provider’s stock worth $79,197,000 after acquiring an additional 294,836 shares in the last quarter. Strategic Financial Services Inc. lifted its stake in The Hartford Financial Services Group by 36.0% during the fourth quarter. Strategic Financial Services Inc. now owns 2,446 shares of the insurance provider’s stock worth $268,000 after purchasing an additional 648 shares during the last quarter. Intech Investment Management LLC boosted its holdings in shares of The Hartford Financial Services Group by 8.0% in the 4th quarter. Intech Investment Management LLC now owns 119,071 shares of the insurance provider’s stock valued at $13,026,000 after purchasing an additional 8,801 shares in the last quarter. Generali Asset Management SPA SGR bought a new position in shares of The Hartford Financial Services Group in the 4th quarter valued at $5,937,000. Finally, Mystic Asset Management Inc. acquired a new position in shares of The Hartford Financial Services Group during the 4th quarter worth $1,417,000. 93.42% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have issued reports on HIG. Keefe, Bruyette & Woods lifted their target price on The Hartford Financial Services Group from $139.00 to $140.00 and gave the company an “outperform” rating in a research report on Wednesday, February 5th. Piper Sandler lifted their price target on shares of The Hartford Financial Services Group from $127.00 to $130.00 and gave the company an “overweight” rating in a report on Monday, February 3rd. Wells Fargo & Company dropped their price objective on shares of The Hartford Financial Services Group from $130.00 to $126.00 and set an “overweight” rating for the company in a research note on Monday, February 3rd. BMO Capital Markets boosted their target price on shares of The Hartford Financial Services Group from $100.00 to $141.00 and gave the stock a “market perform” rating in a research note on Wednesday, November 27th. Finally, StockNews.com cut The Hartford Financial Services Group from a “buy” rating to a “hold” rating in a research note on Tuesday. Ten investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, The Hartford Financial Services Group currently has an average rating of “Moderate Buy” and an average price target of $122.94.

The Hartford Financial Services Group Price Performance

The Hartford Financial Services Group stock opened at $119.20 on Friday. The stock’s 50 day moving average is $114.36 and its 200 day moving average is $115.05. The Hartford Financial Services Group, Inc. has a one year low of $94.47 and a one year high of $124.90. The firm has a market cap of $34.02 billion, a P/E ratio of 11.52, a P/E/G ratio of 1.12 and a beta of 0.91. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.32 and a quick ratio of 0.32.

The Hartford Financial Services Group (NYSE:HIG) last issued its quarterly earnings results on Thursday, January 30th. The insurance provider reported $2.94 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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, research analysts expect that The Hartford Financial Services Group, Inc. will post 11.11 EPS for the current year.

The Hartford Financial Services Group Dividend Announcement

The company also recently declared 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 of this dividend is Monday, March 3rd. This represents a $2.08 dividend on an annualized basis and a yield of 1.74%. The Hartford Financial Services Group’s dividend payout ratio (DPR) is currently 20.10%.

Insider Transactions at The Hartford Financial Services Group

In related news, EVP Robert W. Paiano sold 13,138 shares of the firm’s stock in a transaction that occurred 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 sale, the executive vice president now owns 31,678 shares of the company’s stock, valued at $3,712,661.60. This trade represents a 29.32 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Christopher Swift sold 98,061 shares of the business’s stock in a transaction that occurred 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 transaction, the chief executive officer now directly owns 211,082 shares in the company, valued at approximately $25,412,161.98. This trade represents a 31.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.60% of the company’s stock.

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.