Klein Pavlis & Peasley Financial Inc. Takes $1.62 Million Position in The Hartford Financial Services Group, Inc. (NYSE:HIG)

Klein Pavlis & Peasley Financial Inc. purchased a new position in shares of The Hartford Financial Services Group, Inc. (NYSE:HIG) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 14,800 shares of the insurance provider’s stock, valued at approximately $1,619,000. The Hartford Financial Services Group accounts for approximately 1.3% of Klein Pavlis & Peasley Financial Inc.’s investment portfolio, making the stock its 26th largest position.

Other large investors have also recently added to or reduced their stakes in the company. Czech National Bank grew its stake in The Hartford Financial Services Group by 5.9% during the 3rd quarter. Czech National Bank now owns 59,690 shares of the insurance provider’s stock valued at $7,020,000 after purchasing an additional 3,331 shares in the last quarter. Clean Yield Group purchased a new position in shares of The Hartford Financial Services Group during the 3rd quarter valued at approximately $33,000. Atomi Financial Group Inc. grew its position in shares of The Hartford Financial Services Group by 14.8% during the third quarter. Atomi Financial Group Inc. now owns 4,809 shares of the insurance provider’s stock worth $566,000 after buying an additional 619 shares in the last quarter. CWM LLC grew its position in shares of The Hartford Financial Services Group by 7.9% during the third quarter. CWM LLC now owns 15,048 shares of the insurance provider’s stock worth $1,770,000 after buying an additional 1,106 shares in the last quarter. Finally, Marcum Wealth LLC bought a new stake in shares of The Hartford Financial Services Group in the third quarter worth $209,000. 93.42% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, EVP Adin M. Tooker sold 6,865 shares of the company’s stock in a transaction on Friday, November 15th. The stock was sold at an average price of $117.04, for a total value of $803,479.60. Following the completion of the sale, the executive vice president now 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 sale was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 1.60% of the company’s stock.

The Hartford Financial Services Group Price Performance

Shares of NYSE:HIG opened at $113.54 on Thursday. The firm’s 50 day moving average is $112.51 and its two-hundred day moving average is $113.68. The firm has a market capitalization of $32.92 billion, a P/E ratio of 10.97, a PEG ratio of 0.81 and a beta of 0.97. 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 52 week low of $89.04 and a 52 week high of $124.90.

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 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%. Analysts anticipate that The Hartford Financial Services Group, Inc. will post 11.46 earnings per share for the current year.

Analyst Ratings Changes

Several research analysts have weighed in on the stock. Jefferies Financial Group raised their price objective on shares of The Hartford Financial Services Group from $113.00 to $127.00 and gave the stock a “hold” rating in a report on Wednesday, October 9th. Bank of America lifted their price target on The Hartford Financial Services Group from $121.00 to $124.00 and gave the stock a “neutral” rating in a research note on Thursday, October 10th. Wells Fargo & Company cut their price objective on The Hartford Financial Services Group from $130.00 to $126.00 and set an “overweight” rating on the stock in a research note on Monday. Piper Sandler lifted their target price on The Hartford Financial Services Group from $127.00 to $130.00 and gave the stock an “overweight” rating in a research report on Monday. Finally, Royal Bank of Canada reiterated a “sector perform” rating and issued a $125.00 price target on shares of The Hartford Financial Services Group in a report on Monday. Nine research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price 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.