Longboard Asset Management LP Makes New $227,000 Investment in The Hartford Financial Services Group, Inc. (NYSE:HIG)

Longboard Asset Management LP purchased a new stake in shares of The Hartford Financial Services Group, Inc. (NYSE:HIG) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 2,073 shares of the insurance provider’s stock, valued at approximately $227,000.

Several other institutional investors and hedge funds have also modified their holdings of HIG. DT Investment Partners LLC bought a new position in The Hartford Financial Services Group during the third quarter valued at about $26,000. Thurston Springer Miller Herd & Titak Inc. increased its holdings 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 valued at $26,000 after acquiring an additional 234 shares during the last quarter. Clean Yield Group bought a new position in shares of The Hartford Financial Services Group in the 3rd quarter valued at approximately $33,000. BNP Paribas acquired a new stake in The Hartford Financial Services Group in the 3rd quarter worth approximately $35,000. Finally, Ashton Thomas Securities LLC bought a new stake in The Hartford Financial Services Group during the third quarter worth approximately $40,000. Institutional investors and hedge funds own 93.42% of the company’s stock.

The Hartford Financial Services Group Trading Up 0.8 %

Shares of HIG stock opened at $112.39 on Tuesday. The firm has a fifty day moving average of $112.91 and a 200-day moving average of $113.55. The stock has a market cap of $32.58 billion, a price-to-earnings ratio of 10.86, a P/E/G ratio of 0.81 and a beta of 0.97. The Hartford Financial Services Group, Inc. has a 52-week low of $88.81 and a 52-week high of $124.90. 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 (NYSE:HIG) last posted its quarterly 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 net margin of 11.72% and a return on equity of 19.55%. On average, equities research analysts forecast that The Hartford Financial Services Group, Inc. will post 11.46 earnings per share for the current fiscal year.

Insider Buying and Selling

In other The Hartford Financial Services Group news, EVP Adin M. Tooker sold 6,865 shares of the stock in a transaction on Friday, November 15th. The stock was sold at an average price of $117.04, for a total transaction of $803,479.60. Following the completion of the transaction, the executive vice president now directly owns 25,820 shares in the company, valued at $3,021,972.80. This represents a 21.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.60% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

HIG has been the topic of a number of recent analyst reports. BMO Capital Markets lifted their price target on shares of The Hartford Financial Services Group from $100.00 to $141.00 and gave the company a “market perform” rating in a research report on Wednesday, November 27th. Royal Bank of Canada reissued a “sector perform” rating and set a $125.00 target price on shares of The Hartford Financial Services Group in a research report on Monday. Bank of America upped their price target on shares of The Hartford Financial Services Group from $121.00 to $124.00 and gave the company a “neutral” rating in a report on Thursday, October 10th. Piper Sandler lifted their price objective on The Hartford Financial Services Group from $127.00 to $130.00 and gave the stock an “overweight” rating in a research note on Monday. Finally, Barclays upgraded The Hartford Financial Services Group from an “equal weight” rating to an “overweight” rating and increased their target price for the company from $130.00 to $135.00 in a research note on Monday, January 6th. Nine research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, The Hartford Financial Services Group presently has an average rating of “Moderate Buy” and a consensus target price of $122.89.

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.