The Hartford Financial Services Group, Inc. (NYSE:HIG) Shares Purchased by MV Capital Management Inc.

MV Capital Management Inc. boosted its stake in The Hartford Financial Services Group, Inc. (NYSE:HIG) by 43.8% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,036 shares of the insurance provider’s stock after acquiring an additional 620 shares during the period. MV Capital Management Inc.’s holdings in The Hartford Financial Services Group were worth $210,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in HIG. Norges Bank acquired a new position in The Hartford Financial Services Group during the 4th quarter worth approximately $278,704,000. Hotchkis & Wiley Capital Management LLC increased its position in The Hartford Financial Services Group by 26.2% during the 4th quarter. Hotchkis & Wiley Capital Management LLC now owns 6,119,863 shares of the insurance provider’s stock worth $491,915,000 after purchasing an additional 1,272,290 shares during the period. Nordea Investment Management AB increased its position in The Hartford Financial Services Group by 20.2% during the 4th quarter. Nordea Investment Management AB now owns 2,958,172 shares of the insurance provider’s stock worth $237,600,000 after purchasing an additional 497,916 shares during the period. KBC Group NV increased its position in The Hartford Financial Services Group by 85.5% during the 4th quarter. KBC Group NV now owns 1,074,470 shares of the insurance provider’s stock worth $86,366,000 after purchasing an additional 495,192 shares during the period. Finally, Bank of Nova Scotia increased its position in The Hartford Financial Services Group by 793.3% during the 4th quarter. Bank of Nova Scotia now owns 325,412 shares of the insurance provider’s stock worth $26,156,000 after purchasing an additional 288,984 shares during the period. Institutional investors and hedge funds own 93.42% of the company’s stock.

The Hartford Financial Services Group Stock Up 0.1 %

NYSE HIG traded up $0.14 during trading hours on Tuesday, hitting $100.03. The company had a trading volume of 1,680,002 shares, compared to its average volume of 1,701,173. The Hartford Financial Services Group, Inc. has a fifty-two week low of $68.82 and a fifty-two week high of $105.20. The company has a market capitalization of $29.58 billion, a price-to-earnings ratio of 11.37, a P/E/G ratio of 0.83 and a beta of 0.93. The company has a debt-to-equity ratio of 0.29, a current ratio of 0.31 and a quick ratio of 0.31. The firm’s 50 day moving average is $100.65 and its 200 day moving average is $94.77.

The Hartford Financial Services Group (NYSE:HIG) last announced its quarterly earnings results on Thursday, April 25th. The insurance provider reported $2.34 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.43 by ($0.09). The Hartford Financial Services Group had a net margin of 10.87% and a return on equity of 20.64%. The company had revenue of $6.42 billion during the quarter, compared to analyst estimates of $6.51 billion. During the same quarter in the prior year, the company posted $1.68 earnings per share. The firm’s revenue for the quarter was up 8.6% on a year-over-year basis. Sell-side analysts anticipate that The Hartford Financial Services Group, Inc. will post 9.91 earnings per share for the current fiscal year.

The Hartford Financial Services Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 2nd. Investors of record on Monday, June 3rd will be issued a $0.47 dividend. The ex-dividend date is Monday, June 3rd. This represents a $1.88 annualized dividend and a yield of 1.88%. The Hartford Financial Services Group’s dividend payout ratio is currently 21.36%.

Analyst Ratings Changes

Several research firms have issued reports on HIG. Piper Sandler reiterated 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. Raymond James reissued an “outperform” rating and set a $120.00 price target (up previously from $100.00) on shares of The Hartford Financial Services Group in a research note on Monday, April 1st. Morgan Stanley decreased their price target on The Hartford Financial Services Group from $110.00 to $109.00 and set an “equal weight” rating on the stock in a research note on Friday, April 26th. Roth Mkm upped their target price on The Hartford Financial Services Group from $90.00 to $95.00 and gave the company a “neutral” rating in a research note on Friday, April 26th. Finally, TD Cowen upped their target price on The Hartford Financial Services Group to $144.00 and gave the company a “buy” rating in a research note on Wednesday, April 3rd. Eight analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, The Hartford Financial Services Group currently has an average rating of “Moderate Buy” and a consensus price target of $106.71.

Insider Activity at The Hartford Financial Services Group

In related news, CFO Beth Ann Costello sold 72,076 shares of the stock in a transaction on Wednesday, May 8th. The stock was sold at an average price of $99.71, for a total value of $7,186,697.96. Following the completion of the sale, the chief financial officer now directly owns 69,169 shares in the company, valued at approximately $6,896,840.99. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, EVP Jonathan R. Bennett sold 18,335 shares of the firm’s stock in a transaction dated Thursday, May 9th. The stock was sold at an average price of $100.78, for a total transaction of $1,847,801.30. Following the completion of the sale, the executive vice president now directly owns 25,643 shares in the company, valued at $2,584,301.54. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Beth Ann Costello sold 72,076 shares of the firm’s stock in a transaction dated Wednesday, May 8th. The shares were sold at an average price of $99.71, for a total value of $7,186,697.96. Following the sale, the chief financial officer now owns 69,169 shares of the company’s stock, valued at $6,896,840.99. The disclosure for this sale can be found here. In the last three months, insiders sold 94,499 shares of company stock worth $9,449,309. Corporate insiders own 1.60% of the company’s stock.

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.