Ipsen Advisor Group LLC Invests $442,000 in The Hartford Financial Services Group, Inc. (NYSE:HIG)

Ipsen Advisor Group LLC purchased a new position in The Hartford Financial Services Group, Inc. (NYSE:HIG) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 4,038 shares of the insurance provider’s stock, valued at approximately $442,000.

Other large investors also recently added to or reduced their stakes in the company. AustralianSuper Pty Ltd grew its stake in The Hartford Financial Services Group by 265.5% in the fourth quarter. AustralianSuper Pty Ltd now owns 1,213,074 shares of the insurance provider’s stock worth $132,710,000 after purchasing an additional 881,224 shares in the last quarter. Assenagon Asset Management S.A. lifted its holdings in shares of The Hartford Financial Services Group by 437.9% in 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 during the period. Proficio Capital Partners LLC grew its position in shares of The Hartford Financial Services Group by 11,904.7% during the 4th quarter. Proficio Capital Partners LLC now owns 631,565 shares of the insurance provider’s stock worth $632,000 after buying an additional 626,304 shares in the last quarter. Raymond James Financial Inc. purchased a new position in shares of The Hartford Financial Services Group during the fourth quarter valued at $65,256,000. Finally, Nordea Investment Management AB raised its holdings in shares of The Hartford Financial Services Group by 17.3% in the fourth quarter. Nordea Investment Management AB now owns 3,938,421 shares of the insurance provider’s stock valued at $430,272,000 after acquiring an additional 581,103 shares in the last quarter. 93.42% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at The Hartford Financial Services Group

In other news, EVP Robert W. Paiano sold 13,138 shares of the company’s 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 owns 31,678 shares in the company, valued at $3,712,661.60. This represents a 29.32 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Christopher Swift sold 98,061 shares of The Hartford Financial Services Group stock in a transaction that occurred on Monday, March 17th. The shares were 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 owns 211,082 shares of the company’s stock, valued at approximately $25,412,161.98. This represents a 31.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.60% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research analysts have commented on HIG shares. Royal Bank of Canada reissued a “sector perform” rating and set a $125.00 target price on shares of The Hartford Financial Services Group in a research report on Monday, February 3rd. Wells Fargo & Company reduced their price objective on shares of The Hartford Financial Services Group from $130.00 to $126.00 and set an “overweight” rating for the company in a research note on Monday, February 3rd. BMO Capital Markets lifted their price target on The Hartford Financial Services Group from $100.00 to $141.00 and gave the company a “market perform” rating in a report on Wednesday, November 27th. Piper Sandler boosted their price target on The Hartford Financial Services Group from $127.00 to $130.00 and gave the stock an “overweight” rating in a research report on Monday, February 3rd. Finally, Keefe, Bruyette & Woods raised their price objective on The Hartford Financial Services Group from $139.00 to $140.00 and gave the company an “outperform” rating in a research report on Wednesday, February 5th. Ten analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, The Hartford Financial Services Group presently has a consensus rating of “Moderate Buy” and an average price target of $122.94.

The Hartford Financial Services Group Stock Up 0.3 %

The Hartford Financial Services Group stock opened at $121.46 on Wednesday. The business’s 50-day simple moving average is $114.87 and its two-hundred day simple moving average is $115.12. 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 company has a market cap of $34.66 billion, a PE ratio of 11.74, a PEG ratio of 1.12 and a beta of 0.91. The Hartford Financial Services Group, Inc. has a fifty-two week low of $94.47 and a fifty-two week high of $124.90.

The Hartford Financial Services Group (NYSE:HIG) last issued its earnings results on Thursday, January 30th. The insurance provider reported $2.94 EPS for the quarter, beating analysts’ consensus estimates 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%. Equities 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 announced a quarterly dividend, which will be paid on Wednesday, April 2nd. Investors of record on Monday, March 3rd will be given a dividend of $0.52 per share. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $2.08 dividend on an annualized basis and a yield of 1.71%. The Hartford Financial Services Group’s dividend payout ratio is presently 20.10%.

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.