MV Capital Management Inc. Grows Stake in The Hartford Financial Services Group, Inc. (NYSE:HIG)

MV Capital Management Inc. raised its stake in The Hartford Financial Services Group, Inc. (NYSE:HIG) by 8.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,416 shares of the insurance provider’s stock after acquiring an additional 116 shares during the period. MV Capital Management Inc.’s holdings in The Hartford Financial Services Group were worth $114,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. GoalVest Advisory LLC boosted its position in shares of The Hartford Financial Services Group by 464.8% during the fourth quarter. GoalVest Advisory LLC now owns 305 shares of the insurance provider’s stock valued at $25,000 after buying an additional 251 shares during the last quarter. Turtle Creek Wealth Advisors LLC purchased a new stake in The Hartford Financial Services Group during the 4th quarter valued at about $26,000. CVA Family Office LLC purchased a new stake in shares of The Hartford Financial Services Group in the fourth quarter worth about $27,000. Chilton Capital Management LLC purchased a new stake in shares of The Hartford Financial Services Group in the fourth quarter worth about $28,000. Finally, Selway Asset Management purchased a new stake in shares of The Hartford Financial Services Group in the third quarter worth about $29,000. 93.42% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, SVP Allison G. Niderno sold 1,332 shares of the stock in a transaction that occurred on Tuesday, February 6th. The shares were sold at an average price of $89.74, for a total transaction of $119,533.68. Following the completion of the transaction, the senior vice president now owns 630 shares of the company’s stock, valued at approximately $56,536.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other The Hartford Financial Services Group news, CEO Christopher Swift sold 94,807 shares of the firm’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 of the company’s stock, valued at approximately $14,746,097. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Allison G. Niderno sold 1,332 shares of the firm’s stock in a transaction that occurred on Tuesday, February 6th. The shares were sold at an average price of $89.74, for a total transaction of $119,533.68. Following the completion of the transaction, the senior vice president now directly owns 630 shares of the company’s stock, valued at approximately $56,536.20. The disclosure for this sale can be found here. In the last quarter, insiders sold 253,715 shares of company stock valued at $22,789,138. Company insiders own 1.80% of the company’s stock.

Analyst Ratings Changes

HIG has been the topic of a number of recent research reports. Piper Sandler restated an “overweight” rating and issued a $115.00 target price on shares of The Hartford Financial Services Group in a research note on Monday, April 1st. TD Cowen increased their price target on The Hartford Financial Services Group to $144.00 and gave the stock a “buy” rating in a research report on Wednesday, April 3rd. JPMorgan Chase & Co. increased their price target on The Hartford Financial Services Group from $91.00 to $104.00 and gave the stock a “neutral” rating in a research report on Monday, April 8th. Keefe, Bruyette & Woods increased their target price on The Hartford Financial Services Group from $114.00 to $120.00 and gave the company an “outperform” rating in a report on Wednesday. Finally, Royal Bank of Canada increased their target price on The Hartford Financial Services Group from $77.00 to $95.00 and gave the company a “sector perform” rating in a report on Monday, February 5th. Seven investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $101.94.

The Hartford Financial Services Group Trading Up 0.5 %

HIG stock traded up $0.44 during midday trading on Friday, hitting $97.78. 1,806,113 shares of the company’s stock were exchanged, compared to its average volume of 1,883,683. The Hartford Financial Services Group, Inc. has a 1-year low of $67.01 and a 1-year high of $103.64. The business has a 50-day simple moving average of $97.07 and a two-hundred day simple moving average of $84.44. The stock has a market capitalization of $29.07 billion, a PE ratio of 12.24, a P/E/G ratio of 1.38 and a beta of 0.89. 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 Hartford Financial Services Group (NYSE:HIG) last issued its quarterly earnings data on Friday, February 2nd. The insurance provider reported $3.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.44 by $0.62. The firm had revenue of $6.40 billion for the quarter, compared to analyst estimates 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 Hartford Financial Services Group’s revenue was up 6.4% on a year-over-year basis. During the same period in the previous year, the firm earned $2.31 EPS. On average, sell-side analysts predict that The Hartford Financial Services Group, Inc. will post 10.12 EPS for the current fiscal year.

The Hartford Financial Services Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 2nd. Investors of record on Monday, March 4th were given a dividend of $0.47 per share. The ex-dividend date of this dividend was Friday, March 1st. This represents a $1.88 dividend on an annualized basis and a dividend yield of 1.92%. The Hartford Financial Services Group’s payout ratio is currently 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.