NEOS Investment Management LLC Buys 3,729 Shares of The Hartford Financial Services Group, Inc. (NYSE:HIG)

NEOS Investment Management LLC raised its stake in shares of The Hartford Financial Services Group, Inc. (NYSE:HIG) by 30.0% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 16,169 shares of the insurance provider’s stock after buying an additional 3,729 shares during the quarter. NEOS Investment Management LLC’s holdings in The Hartford Financial Services Group were worth $1,769,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of HIG. Fisher Asset Management LLC purchased a new stake in The Hartford Financial Services Group during the third quarter valued at $340,000. D.A. Davidson & CO. grew its stake in shares of The Hartford Financial Services Group by 1.0% during the 3rd quarter. D.A. Davidson & CO. now owns 19,247 shares of the insurance provider’s stock valued at $2,264,000 after purchasing an additional 199 shares during the period. Townsquare Capital LLC increased its position in shares of The Hartford Financial Services Group by 33.3% during the 3rd quarter. Townsquare Capital LLC now owns 7,860 shares of the insurance provider’s stock valued at $924,000 after purchasing an additional 1,962 shares during the last quarter. BNP Paribas bought a new position in shares of The Hartford Financial Services Group in the 3rd quarter worth approximately $35,000. Finally, CreativeOne Wealth LLC boosted its holdings in shares of The Hartford Financial Services Group by 328.8% in the third quarter. CreativeOne Wealth LLC now owns 11,343 shares of the insurance provider’s stock worth $1,334,000 after buying an additional 8,698 shares during the last quarter. 93.42% of the stock is owned by institutional investors.

Insider Activity at The Hartford Financial Services Group

In other news, CEO Christopher Swift sold 98,061 shares of the business’s stock in a transaction dated 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 sale, the chief executive officer now directly owns 211,082 shares in the company, valued at $25,412,161.98. The trade was a 31.72 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Robert W. Paiano sold 13,138 shares of the stock in a transaction dated Tuesday, March 11th. The shares were 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 directly owns 31,678 shares of the company’s stock, valued at approximately $3,712,661.60. The trade was a 29.32 % decrease in their position. The disclosure for this sale can be found here. 1.60% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $125.00 target price on shares of The Hartford Financial Services Group in a report on Monday, February 3rd. Barclays upgraded The Hartford Financial Services Group from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $130.00 to $135.00 in a research note on Monday, January 6th. Wells Fargo & Company lowered their target price on The Hartford Financial Services Group from $130.00 to $126.00 and set an “overweight” rating on the stock in a research report on Monday, February 3rd. Keefe, Bruyette & Woods upped their price target on The Hartford Financial Services Group from $139.00 to $140.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 5th. Finally, Piper Sandler lifted their price objective on The Hartford Financial Services Group from $127.00 to $130.00 and gave the company an “overweight” rating in a research report on Monday, February 3rd. Ten investment 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’s stock. According to MarketBeat.com, The Hartford Financial Services Group presently has a consensus rating of “Moderate Buy” and a consensus price target of $122.94.

The Hartford Financial Services Group Stock Performance

Shares of NYSE HIG opened at $122.21 on Friday. The company has a market cap of $34.88 billion, a P/E ratio of 11.81, a P/E/G ratio of 1.12 and a beta of 0.91. The Hartford Financial Services Group, Inc. has a 52-week low of $94.47 and a 52-week high of $124.90. 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 firm’s fifty day moving average is $115.52 and its two-hundred day moving average is $115.27.

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

The Hartford Financial Services Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 2nd. Stockholders 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 dividend yield of 1.70%. The Hartford Financial Services Group’s dividend payout ratio is currently 20.10%.

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.