Strategic Financial Services Inc. Grows Stock Holdings in The Hartford Financial Services Group, Inc. (NYSE:HIG)

Strategic Financial Services Inc. grew its holdings in The Hartford Financial Services Group, Inc. (NYSE:HIG) by 36.0% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,446 shares of the insurance provider’s stock after acquiring an additional 648 shares during the period. Strategic Financial Services Inc.’s holdings in The Hartford Financial Services Group were worth $268,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. AustralianSuper Pty Ltd lifted its position in shares of The Hartford Financial Services Group by 265.5% during the fourth quarter. AustralianSuper Pty Ltd now owns 1,213,074 shares of the insurance provider’s stock worth $132,710,000 after purchasing an additional 881,224 shares in the last quarter. Assenagon Asset Management S.A. lifted its holdings in The Hartford Financial Services Group by 437.9% in the 4th quarter. Assenagon Asset Management S.A. now owns 871,318 shares of the insurance provider’s stock worth $95,322,000 after buying an additional 709,324 shares in the last quarter. Proficio Capital Partners LLC boosted its position in The Hartford Financial Services Group by 11,904.7% in the 4th quarter. Proficio Capital Partners LLC now owns 631,565 shares of the insurance provider’s stock valued at $632,000 after buying an additional 626,304 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in shares of The Hartford Financial Services Group during the fourth quarter valued at about $65,256,000. Finally, Nordea Investment Management AB increased its position in shares of The Hartford Financial Services Group by 17.3% during the fourth quarter. Nordea Investment Management AB now owns 3,938,421 shares of the insurance provider’s stock worth $430,272,000 after acquiring an additional 581,103 shares during the last quarter. 93.42% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at The Hartford Financial Services Group

In other The Hartford Financial Services Group news, EVP Robert W. Paiano sold 13,138 shares of the firm’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 of the company’s stock, valued at approximately $3,712,661.60. This trade represents a 29.32 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Christopher Swift sold 98,061 shares of the company’s 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 directly owns 211,082 shares of the company’s stock, valued at approximately $25,412,161.98. This represents a 31.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.60% of the company’s stock.

The Hartford Financial Services Group Trading Up 0.7 %

Shares of NYSE:HIG opened at $119.73 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 company’s 50-day moving average price is $113.89 and its 200 day moving average price is $114.99. The company has a market cap of $34.17 billion, a PE ratio of 11.57, a P/E/G ratio of 1.12 and a beta of 0.91. The Hartford Financial Services Group, Inc. has a fifty-two week low of $94.47 and a fifty-two week high of $124.90.

The Hartford Financial Services Group (NYSE:HIG) last released its quarterly earnings results on Thursday, January 30th. The insurance provider reported $2.94 earnings per share for the quarter, beating analysts’ consensus estimates 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%. Sell-side 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 declared a quarterly dividend, which will be paid on Wednesday, April 2nd. Stockholders of record on Monday, March 3rd will be issued a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.74%. The ex-dividend date of this dividend is Monday, March 3rd. The Hartford Financial Services Group’s dividend payout ratio (DPR) is 20.10%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. Piper Sandler raised their price objective on The Hartford Financial Services Group from $127.00 to $130.00 and gave the company an “overweight” rating in a research note on Monday, February 3rd. StockNews.com cut The Hartford Financial Services Group from a “buy” rating to a “hold” rating in a research note on Tuesday. BMO Capital Markets lifted their price target on shares of 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. Wells Fargo & Company reduced their price objective on shares of 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, February 3rd. Finally, Barclays raised shares of The Hartford Financial Services Group from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $130.00 to $135.00 in a research report on Monday, January 6th. Ten equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus 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.