Horizon Investment Services LLC Invests $2.71 Million in The Hartford Financial Services Group, Inc. (NYSE:HIG)

Horizon Investment Services LLC acquired a new position in shares of The Hartford Financial Services Group, Inc. (NYSE:HIG) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 26,319 shares of the insurance provider’s stock, valued at approximately $2,712,000. The Hartford Financial Services Group makes up approximately 1.3% of Horizon Investment Services LLC’s investment portfolio, making the stock its 27th largest position.

A number of other hedge funds have also modified their holdings of the business. MV Capital Management Inc. increased its stake in shares of The Hartford Financial Services Group by 8.9% during the 4th quarter. MV Capital Management Inc. now owns 1,416 shares of the insurance provider’s stock worth $114,000 after purchasing an additional 116 shares in the last quarter. United Asset Strategies Inc. boosted its position in The Hartford Financial Services Group by 4.3% during the first quarter. United Asset Strategies Inc. now owns 2,931 shares of the insurance provider’s stock worth $302,000 after acquiring an additional 121 shares during the last quarter. Geneos Wealth Management Inc. boosted its position in The Hartford Financial Services Group by 3.2% during the first quarter. Geneos Wealth Management Inc. now owns 3,990 shares of the insurance provider’s stock worth $411,000 after acquiring an additional 123 shares during the last quarter. Realta Investment Advisors boosted its position in The Hartford Financial Services Group by 3.7% during the fourth quarter. Realta Investment Advisors now owns 3,635 shares of the insurance provider’s stock worth $292,000 after acquiring an additional 129 shares during the last quarter. Finally, Gulf International Bank UK Ltd boosted its position in The Hartford Financial Services Group by 0.5% during the first quarter. Gulf International Bank UK Ltd now owns 25,528 shares of the insurance provider’s stock worth $2,630,000 after acquiring an additional 131 shares during the last quarter. 93.42% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at The Hartford Financial Services Group

In other news, EVP Michael R. Fisher sold 4,088 shares of the business’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $101.47, for a total value of $414,809.36. Following the completion of the sale, the executive vice president now owns 14,818 shares of the company’s stock, valued at approximately $1,503,582.46. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, EVP Jonathan R. Bennett sold 18,335 shares of The Hartford Financial Services Group stock in a transaction dated Thursday, May 9th. The shares were sold at an average price of $100.78, for a total value of $1,847,801.30. Following the completion of the transaction, the executive vice president now directly owns 25,643 shares of the company’s stock, valued at approximately $2,584,301.54. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Michael R. Fisher sold 4,088 shares of The Hartford Financial Services Group stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $101.47, for a total transaction of $414,809.36. Following the completion of the transaction, the executive vice president now directly owns 14,818 shares of the company’s stock, valued at $1,503,582.46. The disclosure for this sale can be found here. In the last 90 days, insiders sold 94,499 shares of company stock valued at $9,449,309. Insiders own 1.60% of the company’s stock.

The Hartford Financial Services Group Stock Up 0.4 %

The Hartford Financial Services Group stock traded up $0.41 during midday trading on Friday, hitting $101.75. 1,075,458 shares of the stock were exchanged, compared to its average volume of 1,341,837. The Hartford Financial Services Group, Inc. has a 1 year low of $68.82 and a 1 year high of $105.20. The firm has a market cap of $30.09 billion, a P/E ratio of 11.56, a P/E/G ratio of 0.84 and a beta of 0.93. The company has a debt-to-equity ratio of 0.29, a current ratio of 0.31 and a quick ratio of 0.31. The company has a 50 day moving average price of $101.04 and a two-hundred day moving average price of $95.93.

The Hartford Financial Services Group (NYSE:HIG) last released its quarterly earnings results on Thursday, April 25th. The insurance provider reported $2.34 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.43 by ($0.09). The Hartford Financial Services Group had a return on equity of 20.64% and a net margin of 10.87%. The firm had revenue of $6.42 billion for the quarter, compared to analysts’ expectations of $6.51 billion. During the same period last year, the firm earned $1.68 EPS. The business’s quarterly revenue was up 8.6% on a year-over-year basis. On average, sell-side analysts predict that The Hartford Financial Services Group, Inc. will post 9.86 earnings per share for the current fiscal year.

The Hartford Financial Services Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, July 2nd. Investors of record on Monday, June 3rd were paid a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a yield of 1.85%. The ex-dividend date of this dividend was Monday, June 3rd. The Hartford Financial Services Group’s dividend payout ratio (DPR) is 21.36%.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on HIG. Wells Fargo & Company decreased their target price on shares of The Hartford Financial Services Group from $117.00 to $111.00 and set an “overweight” rating on the stock in a research report on Monday, April 29th. JPMorgan Chase & Co. raised their target price on shares of The Hartford Financial Services Group from $104.00 to $116.00 and gave the stock a “neutral” rating in a research report on Thursday. Bank of America decreased their target price on shares of The Hartford Financial Services Group from $113.00 to $111.00 and set a “buy” rating on the stock in a research report on Thursday. Piper Sandler reiterated an “overweight” rating and issued a $115.00 price target on shares of The Hartford Financial Services Group in a report on Monday, April 1st. Finally, Evercore ISI lifted their price target on shares of The Hartford Financial Services Group from $96.00 to $104.00 and gave the company an “in-line” rating in a report on Thursday, April 11th. Eight analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $107.50.

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.