First Trust Advisors LP Buys 352,282 Shares of The Hartford Financial Services Group, Inc. (NYSE:HIG)

First Trust Advisors LP grew its stake in The Hartford Financial Services Group, Inc. (NYSE:HIG) by 15.1% during the fourth quarter, Holdings Channel.com reports. The fund owned 2,683,531 shares of the insurance provider’s stock after purchasing an additional 352,282 shares during the quarter. First Trust Advisors LP’s holdings in The Hartford Financial Services Group were worth $293,578,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Norges Bank bought a new position in The Hartford Financial Services Group in the fourth quarter worth approximately $416,340,000. AustralianSuper Pty Ltd lifted its holdings in shares of The Hartford Financial Services Group by 265.5% in the 4th quarter. AustralianSuper Pty Ltd now owns 1,213,074 shares of the insurance provider’s stock worth $132,710,000 after buying an additional 881,224 shares during the period. Assenagon Asset Management S.A. grew its position in shares of The Hartford Financial Services Group by 437.9% during 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 increased its stake in shares of The Hartford Financial Services Group by 11,904.7% during the fourth 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 period. Finally, Raymond James Financial Inc. bought a new stake in shares of The Hartford Financial Services Group in the fourth quarter valued at about $65,256,000. 93.42% of the stock is owned by hedge funds and other institutional investors.

The Hartford Financial Services Group Stock Up 0.6 %

NYSE:HIG opened at $117.84 on Friday. The company’s 50 day moving average is $117.07 and its two-hundred day moving average is $115.35. The company has a market cap of $33.94 billion, a PE ratio of 11.39, a P/E/G ratio of 1.12 and a beta of 0.68. The Hartford Financial Services Group, Inc. has a twelve month low of $94.47 and a twelve month high of $125.08. The company has a current ratio of 0.32, a quick ratio of 0.32 and a debt-to-equity ratio of 0.27.

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

The Hartford Financial Services Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 2nd. Investors of record on Monday, March 3rd were issued a $0.52 dividend. The ex-dividend date was Monday, March 3rd. This represents a $2.08 annualized dividend and a yield of 1.77%. The Hartford Financial Services Group’s dividend payout ratio (DPR) is presently 20.10%.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the stock. Piper Sandler increased their target price on shares of The Hartford Financial Services Group from $130.00 to $145.00 and gave the stock an “overweight” rating in a report on Tuesday, April 1st. StockNews.com raised shares of The Hartford Financial Services Group from a “hold” rating to a “buy” rating in a report on Thursday. Raymond James upped their target price on The Hartford Financial Services Group from $125.00 to $135.00 and gave the stock an “outperform” rating in a report on Monday, March 31st. Jefferies Financial Group dropped their target price on The Hartford Financial Services Group from $118.00 to $117.00 and set a “hold” rating on the stock in a research report on Friday, April 11th. Finally, Wells Fargo & Company reduced their price target on The Hartford Financial Services Group from $126.00 to $125.00 and set an “overweight” rating for the company in a research report on Thursday, April 10th. Eight equities research 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 company. According to MarketBeat, The Hartford Financial Services Group has an average rating of “Moderate Buy” and an average price target of $124.13.

Insiders Place Their Bets

In other The Hartford Financial Services Group news, 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 transaction of $1,539,773.60. Following the completion of the transaction, the executive vice president now owns 31,678 shares in the company, 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 SEC, which is accessible through this link. Also, CEO Christopher Swift sold 1,144 shares of the business’s stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $125.00, for a total value of $143,000.00. Following the completion of the transaction, the chief executive officer now directly owns 211,082 shares of the company’s stock, valued at approximately $26,385,250. This trade represents a 0.54 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 112,343 shares of company stock valued at $13,488,337. 1.60% of the stock is owned by insiders.

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.