Hillsdale Investment Management Inc. Grows Stock Position in The Hartford Financial Services Group, Inc. (NYSE:HIG)

Hillsdale Investment Management Inc. boosted its position in shares of The Hartford Financial Services Group, Inc. (NYSE:HIG) by 5.6% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,650 shares of the insurance provider’s stock after buying an additional 350 shares during the quarter. Hillsdale Investment Management Inc.’s holdings in The Hartford Financial Services Group were worth $728,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Pacer Advisors Inc. grew its holdings in The Hartford Financial Services Group by 29.9% during the 3rd quarter. Pacer Advisors Inc. now owns 58,293 shares of the insurance provider’s stock valued at $6,856,000 after purchasing an additional 13,423 shares during the last quarter. Citigroup Inc. grew its stake in shares of The Hartford Financial Services Group by 3.5% during the third quarter. Citigroup Inc. now owns 314,849 shares of the insurance provider’s stock valued at $37,029,000 after buying an additional 10,566 shares during the last quarter. Nwam LLC bought a new position in shares of The Hartford Financial Services Group during the third quarter valued at approximately $332,000. Great Valley Advisor Group Inc. raised its holdings in shares of The Hartford Financial Services Group by 7.7% in the third quarter. Great Valley Advisor Group Inc. now owns 2,557 shares of the insurance provider’s stock worth $300,000 after buying an additional 182 shares during the period. Finally, Cerity Partners LLC lifted its stake in shares of The Hartford Financial Services Group by 9.9% during the 3rd quarter. Cerity Partners LLC now owns 67,445 shares of the insurance provider’s stock worth $7,932,000 after acquiring an additional 6,094 shares during the last quarter. 93.42% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the company. BMO Capital Markets increased their target price on 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. Piper Sandler lifted their price objective 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. 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 note on Monday, February 3rd. Barclays raised shares of The Hartford Financial Services Group from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $130.00 to $135.00 in a research note on Monday, January 6th. Finally, Keefe, Bruyette & Woods increased their price objective on The Hartford Financial Services Group from $139.00 to $140.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 5th. Ten investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $122.94.

The Hartford Financial Services Group Stock Performance

HIG stock opened at $119.20 on Monday. 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 price-to-earnings ratio of 11.52, a PEG ratio of 1.12 and a beta of 0.91. 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 firm has a 50-day simple moving average of $114.36 and a two-hundred day simple moving average of $115.03.

The Hartford Financial Services Group (NYSE:HIG) last posted its earnings results on Thursday, January 30th. The insurance provider reported $2.94 EPS for the quarter, beating 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%. On average, equities analysts forecast that The Hartford Financial Services Group, Inc. will post 11.11 EPS for the current fiscal year.

The Hartford Financial Services Group Announces Dividend

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

Insider Activity at The Hartford Financial Services Group

In other news, EVP Robert W. Paiano sold 13,138 shares of the company’s stock in a transaction dated 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 owns 31,678 shares in the company, valued at $3,712,661.60. This represents a 29.32 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Christopher Swift sold 98,061 shares of The Hartford Financial Services Group stock in a transaction that occurred on Monday, March 17th. The stock was 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 owns 211,082 shares of the company’s stock, valued at $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.

The Hartford Financial Services Group Company 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.