New Age Alpha Advisors LLC Has $534,000 Stake in The Hartford Financial Services Group, Inc. (NYSE:HIG)

New Age Alpha Advisors LLC boosted its holdings in The Hartford Financial Services Group, Inc. (NYSE:HIG) by 3,110.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,880 shares of the insurance provider’s stock after purchasing an additional 4,728 shares during the period. New Age Alpha Advisors LLC’s holdings in The Hartford Financial Services Group were worth $534,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Thurston Springer Miller Herd & Titak Inc. boosted its stake in shares of The Hartford Financial Services Group by 3,342.9% during the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 241 shares of the insurance provider’s stock worth $26,000 after acquiring an additional 234 shares during the period. Barrett & Company Inc. grew its stake in The Hartford Financial Services Group by 46.5% in the 4th quarter. Barrett & Company Inc. now owns 293 shares of the insurance provider’s stock valued at $32,000 after buying an additional 93 shares during the last quarter. DT Investment Partners LLC raised its holdings in The Hartford Financial Services Group by 49.8% in the 4th quarter. DT Investment Partners LLC now owns 331 shares of the insurance provider’s stock valued at $36,000 after acquiring an additional 110 shares during the period. Flagship Wealth Advisors LLC acquired a new stake in The Hartford Financial Services Group during the fourth quarter worth approximately $36,000. Finally, Key Financial Inc increased its stake in shares of The Hartford Financial Services Group by 526.3% during the fourth quarter. Key Financial Inc now owns 357 shares of the insurance provider’s stock worth $39,000 after purchasing an additional 300 shares during the period. 93.42% of the stock is currently owned by institutional investors and hedge funds.

The Hartford Financial Services Group Stock Up 1.2 %

The Hartford Financial Services Group stock opened at $123.73 on Tuesday. The firm has a 50 day moving average price of $115.75 and a two-hundred day moving average price of $115.33. 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, Inc. has a 52-week low of $94.47 and a 52-week high of $124.90. The firm has a market cap of $35.31 billion, a price-to-earnings ratio of 11.95, a PEG ratio of 1.12 and a beta of 0.91.

The Hartford Financial Services Group (NYSE:HIG) last released its 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%. Equities analysts predict that The Hartford Financial Services Group, Inc. will post 11.11 EPS for the current year.

The Hartford Financial Services Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 2nd. Investors of record on Monday, March 3rd will be paid a dividend of $0.52 per share. The ex-dividend date is Monday, March 3rd. This represents a $2.08 annualized dividend and a yield of 1.68%. The Hartford Financial Services Group’s dividend payout ratio is currently 20.10%.

Insiders Place Their Bets

In related news, EVP Robert W. Paiano sold 13,138 shares of the stock in a transaction on 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 directly 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Christopher Swift sold 98,061 shares of The Hartford Financial Services Group stock in a transaction on 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 sale, the chief executive officer now directly owns 211,082 shares of the company’s stock, 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. 1.60% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

HIG has been the topic of several recent research reports. Keefe, Bruyette & Woods raised their target price on shares of The Hartford Financial Services Group from $139.00 to $140.00 and gave the stock an “outperform” rating in a report on Wednesday, February 5th. Wells Fargo & Company dropped their target price 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. Royal Bank of Canada restated a “sector perform” rating and issued a $125.00 target price on shares of The Hartford Financial Services Group 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 upped their price target for the stock from $130.00 to $135.00 in a report on Monday, January 6th. Finally, Piper Sandler raised their price objective on 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. Ten investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $123.78.

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.