Commerzbank Aktiengesellschaft FI Makes New Investment in The Hartford Financial Services Group, Inc. (NYSE:HIG)

Commerzbank Aktiengesellschaft FI bought a new stake in The Hartford Financial Services Group, Inc. (NYSE:HIG) in the 4th quarter, Holdings Channel reports. The institutional investor bought 2,821 shares of the insurance provider’s stock, valued at approximately $227,000.

Other hedge funds have also recently made changes to their positions in the company. Cetera Trust Company N.A bought a new position in shares of The Hartford Financial Services Group during the fourth quarter valued at $40,000. Handelsbanken Fonder AB lifted its holdings in The Hartford Financial Services Group by 39.2% during the 4th quarter. Handelsbanken Fonder AB now owns 55,288 shares of the insurance provider’s stock worth $4,444,000 after buying an additional 15,559 shares during the period. CWM LLC grew its position in shares of The Hartford Financial Services Group by 23.8% in the 4th quarter. CWM LLC now owns 11,323 shares of the insurance provider’s stock valued at $910,000 after buying an additional 2,174 shares during the last quarter. OVERSEA CHINESE BANKING Corp Ltd acquired a new stake in shares of The Hartford Financial Services Group in the fourth quarter valued at about $571,000. Finally, Signaturefd LLC raised its position in shares of The Hartford Financial Services Group by 10.7% during the fourth quarter. Signaturefd LLC now owns 5,384 shares of the insurance provider’s stock worth $433,000 after acquiring an additional 522 shares during the last quarter. 93.42% of the stock is owned by institutional investors and hedge funds.

Insider Activity at The Hartford Financial Services Group

In other The Hartford Financial Services Group news, EVP Michael R. Fisher sold 27,004 shares of The Hartford Financial Services Group stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $98.90, for a total value of $2,670,695.60. Following the sale, the executive vice president now owns 18,906 shares of the company’s stock, valued at $1,869,803.40. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, EVP Michael R. Fisher sold 27,004 shares of The Hartford Financial Services Group stock in a transaction that occurred on Wednesday, March 13th. The shares were sold at an average price of $98.90, for a total value of $2,670,695.60. Following the sale, the executive vice president now owns 18,906 shares of the company’s stock, valued at approximately $1,869,803.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Christopher Swift sold 94,807 shares of the company’s stock in a transaction that occurred on Wednesday, January 24th. The shares were sold at an average price of $86.65, for a total value of $8,215,026.55. Following the completion of the transaction, the chief executive officer now owns 170,180 shares in the company, valued at approximately $14,746,097. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 201,308 shares of company stock worth $18,356,153. 1.60% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the stock. The Goldman Sachs Group raised their price target on shares of The Hartford Financial Services Group from $92.00 to $105.00 and gave the stock a “buy” rating in a report on Friday, April 12th. Piper Sandler restated an “overweight” rating and set a $115.00 target price on shares of The Hartford Financial Services Group in a research report on Monday, April 1st. Wells Fargo & Company lifted their target price on The Hartford Financial Services Group from $106.00 to $117.00 and gave the stock an “overweight” rating in a report on Thursday, April 11th. Keefe, Bruyette & Woods increased their price target on The Hartford Financial Services Group from $114.00 to $120.00 and gave the stock an “outperform” rating in a report on Wednesday, April 10th. Finally, Citigroup raised their price objective on shares of The Hartford Financial Services Group from $109.00 to $113.00 and gave the stock a “buy” rating in a research report on Tuesday, April 16th. Seven equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $105.56.

The Hartford Financial Services Group Trading Up 0.9 %

Shares of The Hartford Financial Services Group stock opened at $99.82 on Tuesday. The company has a current ratio of 0.32, a quick ratio of 0.32 and a debt-to-equity ratio of 0.29. The stock has a fifty day simple moving average of $97.97 and a 200 day simple moving average of $85.67. The Hartford Financial Services Group, Inc. has a 12-month low of $67.05 and a 12-month high of $103.64. The company has a market capitalization of $29.68 billion, a P/E ratio of 12.49, a price-to-earnings-growth ratio of 1.40 and a beta of 0.89.

The Hartford Financial Services Group (NYSE:HIG) last released its quarterly earnings results on Friday, February 2nd. The insurance provider reported $3.06 earnings per share for the quarter, topping the consensus estimate of $2.44 by $0.62. The business had revenue of $6.40 billion for the quarter, compared to analysts’ expectations of $5.84 billion. The Hartford Financial Services Group had a net margin of 10.21% and a return on equity of 19.82%. The firm’s revenue for the quarter was up 6.4% compared to the same quarter last year. During the same period in the previous year, the company earned $2.31 earnings per share. On average, sell-side analysts anticipate that The Hartford Financial Services Group, Inc. will post 10.13 earnings per share for the current fiscal year.

The Hartford Financial Services Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 2nd. Stockholders of record on Monday, March 4th were paid a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a dividend yield of 1.88%. The ex-dividend date of this dividend was Friday, March 1st. The Hartford Financial Services Group’s payout ratio is 23.53%.

The Hartford Financial Services Group 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.