RWA Wealth Partners LLC Makes New $202,000 Investment in The Hartford Financial Services Group, Inc. (NYSE:HIG)

RWA Wealth Partners LLC bought a new stake in shares of The Hartford Financial Services Group, Inc. (NYSE:HIG) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 1,844 shares of the insurance provider’s stock, valued at approximately $202,000.

A number of other institutional investors have also recently made changes to their positions in HIG. Victory Capital Management Inc. lifted its stake in shares of The Hartford Financial Services Group by 4.5% in the 4th quarter. Victory Capital Management Inc. now owns 4,701,675 shares of the insurance provider’s stock valued at $514,363,000 after purchasing an additional 202,487 shares during the last quarter. Nordea Investment Management AB lifted its position in The Hartford Financial Services Group by 17.3% in the fourth quarter. Nordea Investment Management AB now owns 3,938,421 shares of the insurance provider’s stock worth $430,272,000 after buying an additional 581,103 shares during the last quarter. Norges Bank purchased a new position in The Hartford Financial Services Group during the fourth quarter worth $416,340,000. Charles Schwab Investment Management Inc. increased its position in The Hartford Financial Services Group by 2.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,913,914 shares of the insurance provider’s stock valued at $209,382,000 after acquiring an additional 39,585 shares during the last quarter. Finally, Bahl & Gaynor Inc. raised its stake in shares of The Hartford Financial Services Group by 8.5% in the fourth quarter. Bahl & Gaynor Inc. now owns 1,457,147 shares of the insurance provider’s stock valued at $159,412,000 after acquiring an additional 114,716 shares during the period. Institutional investors own 93.42% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently commented on HIG shares. 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 company from $130.00 to $135.00 in a report on Monday, January 6th. Piper Sandler increased their price target on The Hartford Financial Services Group from $130.00 to $145.00 and gave the stock an “overweight” rating in a report on Tuesday. Wells Fargo & Company dropped their price objective on 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. Raymond James increased their target price on The Hartford Financial Services Group from $125.00 to $135.00 and gave the stock an “outperform” rating in a research note on Monday. Finally, StockNews.com lowered shares of The Hartford Financial Services Group from a “buy” rating to a “hold” rating in a research note on Tuesday, March 18th. Ten equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $124.61.

The Hartford Financial Services Group Stock Up 0.5 %

Shares of NYSE HIG opened at $124.34 on Wednesday. The stock has a market capitalization of $35.48 billion, a PE ratio of 12.01, a price-to-earnings-growth ratio of 1.12 and a beta of 0.91. The company has a current ratio of 0.32, a quick ratio of 0.32 and a debt-to-equity ratio of 0.27. The Hartford Financial Services Group, Inc. has a 12-month low of $94.47 and a 12-month high of $124.90. The stock’s fifty day simple moving average is $116.00 and its two-hundred day simple moving average is $115.39.

The Hartford Financial Services Group (NYSE:HIG) last posted 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 return on equity of 19.55% and a net margin of 11.72%. As a group, analysts expect that The Hartford Financial Services Group, Inc. will post 11.11 EPS for the current fiscal year.

The Hartford Financial Services Group Dividend Announcement

The company also recently disclosed 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 of this dividend is Monday, March 3rd. This represents a $2.08 annualized dividend and a dividend yield of 1.67%. The Hartford Financial Services Group’s dividend payout ratio (DPR) is presently 20.10%.

Insider Activity at The Hartford Financial Services Group

In related news, EVP Robert W. Paiano sold 13,138 shares of the company’s stock in a transaction dated 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 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 position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Christopher Swift sold 98,061 shares of the firm’s stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $120.39, for a total value 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 represents a 31.72 % decrease in their position. The disclosure for this sale can be found here. 1.60% of the stock is currently owned by corporate insiders.

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.