SRN Advisors LLC Takes $743,000 Position in The Hartford Financial Services Group, Inc. (NYSE:HIG)

SRN Advisors LLC purchased a new position in shares of The Hartford Financial Services Group, Inc. (NYSE:HIG) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 6,791 shares of the insurance provider’s stock, valued at approximately $743,000.

Other institutional investors have also recently made changes to their positions in the company. Catalyst Financial Partners LLC increased its holdings in The Hartford Financial Services Group by 3.0% in the fourth quarter. Catalyst Financial Partners LLC now owns 3,079 shares of the insurance provider’s stock valued at $337,000 after buying an additional 90 shares during the last quarter. Barrett & Company Inc. increased its holdings in shares of 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 acquiring an additional 93 shares during the last quarter. Brooklyn Investment Group increased its holdings in shares of The Hartford Financial Services Group by 4.0% in the 3rd quarter. Brooklyn Investment Group now owns 2,444 shares of the insurance provider’s stock valued at $287,000 after acquiring an additional 94 shares during the last quarter. Wilmington Savings Fund Society FSB lifted its stake in The Hartford Financial Services Group by 2.2% during the fourth quarter. Wilmington Savings Fund Society FSB now owns 4,468 shares of the insurance provider’s stock worth $489,000 after purchasing an additional 97 shares during the last quarter. Finally, Lifestyle Asset Management Inc. lifted its stake in The Hartford Financial Services Group by 0.9% during the fourth quarter. Lifestyle Asset Management Inc. now owns 11,499 shares of the insurance provider’s stock worth $1,258,000 after purchasing an additional 98 shares during the last quarter. Hedge funds and other institutional investors own 93.42% of the company’s stock.

The Hartford Financial Services Group Trading Down 0.9 %

Shares of The Hartford Financial Services Group stock opened at $115.38 on Thursday. The company has a quick ratio of 0.32, a current ratio of 0.32 and a debt-to-equity ratio of 0.27. The firm has a market cap of $32.93 billion, a price-to-earnings ratio of 11.15, a price-to-earnings-growth ratio of 1.12 and a beta of 0.97. The Hartford Financial Services Group, Inc. has a 52-week low of $94.32 and a 52-week high of $124.90. The company’s 50-day simple moving average is $111.33 and its 200-day simple moving average is $114.33.

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, topping 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, equities research analysts anticipate that The Hartford Financial Services Group, Inc. will post 11.11 earnings per share 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. Shareholders of record on Monday, March 3rd will be issued a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 1.80%. The ex-dividend date of this dividend is Monday, March 3rd. The Hartford Financial Services Group’s dividend payout ratio (DPR) is currently 20.10%.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on HIG shares. Piper Sandler raised their price objective on shares of The Hartford Financial Services Group from $127.00 to $130.00 and gave the stock an “overweight” rating in a report on Monday, February 3rd. Barclays upgraded shares of The Hartford Financial Services Group from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $130.00 to $135.00 in a research note on Monday, January 6th. Wells Fargo & Company decreased 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. Keefe, Bruyette & Woods raised their price objective on 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. Finally, StockNews.com downgraded The Hartford Financial Services Group from a “buy” rating to a “hold” rating in a report on Tuesday. Ten equities research 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. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target 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.