Intrust Bank NA Acquires 604 Shares of The Hartford Financial Services Group, Inc. (NYSE:HIG)

Intrust Bank NA grew its holdings in The Hartford Financial Services Group, Inc. (NYSE:HIG) by 2.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 21,518 shares of the insurance provider’s stock after acquiring an additional 604 shares during the period. Intrust Bank NA’s holdings in The Hartford Financial Services Group were worth $2,354,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the business. Thurston Springer Miller Herd & Titak Inc. increased its stake in shares of The Hartford Financial Services Group by 3,342.9% in the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 241 shares of the insurance provider’s stock worth $26,000 after purchasing an additional 234 shares in the last quarter. Barrett & Company Inc. increased its position in The Hartford Financial Services Group by 46.5% in the fourth quarter. Barrett & Company Inc. now owns 293 shares of the insurance provider’s stock worth $32,000 after buying an additional 93 shares in the last quarter. BNP Paribas bought a new position in shares of The Hartford Financial Services Group in the third quarter worth about $35,000. DT Investment Partners LLC lifted its position in shares of The Hartford Financial Services Group by 49.8% during the 4th quarter. DT Investment Partners LLC now owns 331 shares of the insurance provider’s stock valued at $36,000 after buying an additional 110 shares in the last quarter. Finally, Flagship Wealth Advisors LLC purchased a new position in shares of The Hartford Financial Services Group during the 4th quarter valued at about $36,000. 93.42% of the stock is currently owned by institutional investors.

The Hartford Financial Services Group Stock Performance

Shares of NYSE:HIG opened at $122.21 on Friday. The firm has a fifty day simple moving average of $115.52 and a two-hundred day simple moving average of $115.27. The Hartford Financial Services Group, Inc. has a 52 week low of $94.47 and a 52 week high of $124.90. 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 stock has a market capitalization of $34.88 billion, a P/E ratio of 11.81, a PEG ratio of 1.12 and a beta of 0.91.

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

The Hartford Financial Services Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 2nd. Stockholders of record on Monday, March 3rd will be given a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 1.70%. The ex-dividend date is Monday, March 3rd. The Hartford Financial Services Group’s dividend payout ratio is currently 20.10%.

Insider Activity at The Hartford Financial Services Group

In other news, CEO Christopher Swift sold 98,061 shares of the stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $120.39, for a total value of $11,805,563.79. Following the sale, the chief executive officer now directly owns 211,082 shares in the company, valued at approximately $25,412,161.98. This represents a 31.72 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Robert W. Paiano sold 13,138 shares of the firm’s stock in a transaction that occurred on Tuesday, March 11th. The stock was sold at an average price of $117.20, for a total value of $1,539,773.60. Following the sale, the executive vice president now directly owns 31,678 shares of the company’s stock, valued at $3,712,661.60. This represents a 29.32 % 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 insiders.

Analyst Upgrades and Downgrades

HIG has been the topic of a number of recent analyst reports. Piper Sandler raised their target price on shares of The Hartford Financial Services Group from $127.00 to $130.00 and gave the stock an “overweight” rating in a research note on Monday, February 3rd. Barclays upgraded shares of The Hartford Financial Services Group from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $130.00 to $135.00 in a research note on Monday, January 6th. 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 research note on Monday, February 3rd. Keefe, Bruyette & Woods boosted their price objective on The Hartford Financial Services Group from $139.00 to $140.00 and gave the company an “outperform” rating in a research report on Wednesday, February 5th. Finally, StockNews.com cut The Hartford Financial Services Group from a “buy” rating to a “hold” rating in a research report on Tuesday, March 18th. Ten investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average 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.