Integrated Quantitative Investments LLC Invests $418,000 in The Hartford Financial Services Group, Inc. (NYSE:HIG)

Integrated Quantitative Investments LLC bought a new stake in shares of The Hartford Financial Services Group, Inc. (NYSE:HIG) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 3,820 shares of the insurance provider’s stock, valued at approximately $418,000.

A number of other institutional investors have also recently made changes to their positions in HIG. HighTower Advisors LLC lifted its stake in shares of The Hartford Financial Services Group by 7.1% in the 3rd quarter. HighTower Advisors LLC now owns 111,134 shares of the insurance provider’s stock valued at $13,063,000 after purchasing an additional 7,350 shares during the last quarter. Horizon Advisory Services Inc. bought a new stake in The Hartford Financial Services Group in the fourth quarter worth $277,000. Zurich Insurance Group Ltd FI purchased a new position in The Hartford Financial Services Group during the third quarter worth $19,005,000. Assenagon Asset Management S.A. increased its position in The Hartford Financial Services Group by 437.9% during the fourth quarter. Assenagon Asset Management S.A. now owns 871,318 shares of the insurance provider’s stock valued at $95,322,000 after acquiring an additional 709,324 shares during the last quarter. Finally, Victory Capital Management Inc. raised its stake in shares of The Hartford Financial Services Group by 4.5% in the fourth quarter. Victory Capital Management Inc. now owns 4,701,675 shares of the insurance provider’s stock valued at $514,363,000 after acquiring an additional 202,487 shares during the period. Institutional investors own 93.42% of the company’s stock.

The Hartford Financial Services Group Stock Down 8.0 %

NYSE:HIG opened at $113.56 on Friday. The company’s 50-day simple moving average is $116.56 and its 200-day simple moving average is $115.49. 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, Inc. has a fifty-two week low of $94.47 and a fifty-two week high of $125.08. The stock has a market capitalization of $32.41 billion, a P/E ratio of 10.97, a P/E/G 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 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 analysts anticipate that The Hartford Financial Services Group, Inc. will post 11.11 earnings per share for the current fiscal year.

The Hartford Financial Services Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 2nd. Shareholders of record on Monday, March 3rd were paid a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 1.83%. The ex-dividend date of this dividend was Monday, March 3rd. The Hartford Financial Services Group’s dividend payout ratio (DPR) is presently 20.10%.

Insiders Place Their Bets

In related news, CEO Christopher Swift sold 98,061 shares of the company’s stock in a transaction 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 transaction, the chief executive officer now directly owns 211,082 shares of the company’s stock, valued at $25,412,161.98. This represents a 31.72 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Robert W. Paiano sold 13,138 shares of The Hartford Financial Services Group stock in a transaction dated 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 approximately $3,712,661.60. This represents a 29.32 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 112,343 shares of company stock valued at $13,488,337. 1.60% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. Wells Fargo & Company cut their price target on shares of The Hartford Financial Services Group from $130.00 to $126.00 and set an “overweight” rating on the stock in a report 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, March 18th. Piper Sandler raised their price target on The Hartford Financial Services Group from $130.00 to $145.00 and gave the stock an “overweight” rating in a research note on Tuesday. Raymond James upped their price objective on The Hartford Financial Services Group from $125.00 to $135.00 and gave the company an “outperform” rating in a research report on Monday, March 31st. Finally, Barclays upgraded The Hartford Financial Services Group from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $130.00 to $135.00 in a research report on Monday, January 6th. Ten investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $123.47.

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.