RWA Wealth Partners LLC Acquires New Stake in The Hartford Financial Services Group, Inc. (NYSE:HIG)

RWA Wealth Partners LLC bought a new position in The Hartford Financial Services Group, Inc. (NYSE:HIG) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 1,844 shares of the insurance provider’s stock, valued at approximately $202,000.

Other institutional investors have also recently modified their holdings of the company. Townsquare Capital LLC grew its position in The Hartford Financial Services Group by 33.3% during the 3rd quarter. Townsquare Capital LLC now owns 7,860 shares of the insurance provider’s stock valued at $924,000 after purchasing an additional 1,962 shares during the last quarter. Rockefeller Capital Management L.P. increased its position in shares of The Hartford Financial Services Group by 1.4% during the third quarter. Rockefeller Capital Management L.P. now owns 41,624 shares of the insurance provider’s stock valued at $4,892,000 after acquiring an additional 580 shares in the last quarter. Captrust Financial Advisors raised its holdings in The Hartford Financial Services Group by 6.4% in the 3rd quarter. Captrust Financial Advisors now owns 20,131 shares of the insurance provider’s stock worth $2,368,000 after acquiring an additional 1,214 shares during the last quarter. Edgestream Partners L.P. lifted its position in The Hartford Financial Services Group by 124.6% in the 3rd quarter. Edgestream Partners L.P. now owns 7,039 shares of the insurance provider’s stock valued at $828,000 after acquiring an additional 3,905 shares in the last quarter. Finally, Erste Asset Management GmbH purchased a new stake in The Hartford Financial Services Group during the 3rd quarter valued at $1,133,000. 93.42% of the stock is owned by hedge funds and other institutional investors.

The Hartford Financial Services Group Stock Up 0.5 %

HIG opened at $124.34 on Wednesday. The stock has a market cap of $35.48 billion, a price-to-earnings ratio of 12.01, a price-to-earnings-growth ratio of 1.12 and a beta of 0.91. 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 firm’s fifty day moving average is $116.00 and its 200 day moving average is $115.39. 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 announced its quarterly earnings data 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%. On average, sell-side analysts forecast 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 disclosed a quarterly dividend, which will be paid on Wednesday, April 2nd. Shareholders 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 yield of 1.67%. The ex-dividend date is Monday, March 3rd. The Hartford Financial Services Group’s dividend payout ratio (DPR) is currently 20.10%.

Insider Activity

In other The Hartford Financial Services Group news, EVP Robert W. Paiano sold 13,138 shares of the 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 completion of the transaction, the executive vice president now owns 31,678 shares of the company’s stock, valued at $3,712,661.60. This represents a 29.32 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Christopher Swift sold 98,061 shares of The Hartford Financial Services Group stock in a transaction dated 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 completion of the sale, the chief executive officer now directly owns 211,082 shares in the company, valued at $25,412,161.98. This trade 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.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the company. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $125.00 price target on shares of The Hartford Financial Services Group in a report on Monday, February 3rd. Barclays raised shares of The Hartford Financial Services Group from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $130.00 to $135.00 in a report on Monday, January 6th. StockNews.com cut shares of The Hartford Financial Services Group from a “buy” rating to a “hold” rating in a report on Tuesday, March 18th. Keefe, Bruyette & Woods raised their target price on shares of The Hartford Financial Services Group from $139.00 to $140.00 and gave the stock an “outperform” rating in a report on Wednesday, February 5th. Finally, Piper Sandler boosted their target price on shares of The Hartford Financial Services Group from $130.00 to $145.00 and gave the company an “overweight” rating in a research note on Tuesday. Ten investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $124.61.

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.