Summit Financial LLC Purchases 1,033 Shares of The Hartford Financial Services Group, Inc. (NYSE:HIG)

Summit Financial LLC lifted its holdings in The Hartford Financial Services Group, Inc. (NYSE:HIG) by 17.8% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,839 shares of the insurance provider’s stock after acquiring an additional 1,033 shares during the period. Summit Financial LLC’s holdings in The Hartford Financial Services Group were worth $751,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in HIG. Thurston Springer Miller Herd & Titak Inc. lifted its stake in The Hartford Financial Services Group by 3,342.9% in the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 241 shares of the insurance provider’s stock valued at $26,000 after buying an additional 234 shares during the period. Barrett & Company Inc. boosted its stake in The Hartford Financial Services Group by 46.5% during the fourth quarter. Barrett & Company Inc. now owns 293 shares of the insurance provider’s stock worth $32,000 after acquiring an additional 93 shares in the last quarter. DT Investment Partners LLC boosted its stake in The Hartford Financial Services Group by 49.8% during the fourth quarter. DT Investment Partners LLC now owns 331 shares of the insurance provider’s stock worth $36,000 after acquiring an additional 110 shares in the last quarter. Flagship Wealth Advisors LLC acquired a new stake in The Hartford Financial Services Group in the fourth quarter worth $36,000. Finally, Key Financial Inc raised its holdings in shares of The Hartford Financial Services Group by 526.3% during the fourth quarter. Key Financial Inc now owns 357 shares of the insurance provider’s stock valued at $39,000 after purchasing an additional 300 shares during the period. 93.42% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have recently commented on HIG shares. Piper Sandler raised their target price on The Hartford Financial Services Group from $130.00 to $145.00 and gave the company an “overweight” rating in a research note on Tuesday. Wells Fargo & Company decreased their price objective on The Hartford Financial Services Group from $130.00 to $126.00 and set an “overweight” rating for the company in a report on Monday, February 3rd. Raymond James increased 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. StockNews.com lowered shares of The Hartford Financial Services Group from a “buy” rating to a “hold” rating in a research note on Tuesday, March 18th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and set a $125.00 price objective on shares of The Hartford Financial Services Group in a report on Monday, February 3rd. Ten analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $124.61.

Insider Transactions at The Hartford Financial Services Group

In related news, EVP Robert W. Paiano sold 13,138 shares of the company’s stock in a transaction that occurred on 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 sale, the executive vice president now directly owns 31,678 shares in the company, valued at approximately $3,712,661.60. This represents a 29.32 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 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 transaction of $11,805,563.79. Following the completion of the transaction, the chief executive officer now owns 211,082 shares of the company’s stock, valued at $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.

The Hartford Financial Services Group Price Performance

Shares of NYSE:HIG opened at $124.98 on Thursday. The company has a market capitalization of $35.67 billion, a P/E ratio of 12.08, a price-to-earnings-growth ratio of 1.12 and a beta of 0.91. The company’s 50-day moving average is $116.27 and its 200 day moving average is $115.46. 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 Hartford Financial Services Group, Inc. has a fifty-two week low of $94.47 and a fifty-two week high of $125.08.

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 for the quarter, beating analysts’ consensus estimates of $2.68 by $0.26. The Hartford Financial Services Group had a net margin of 11.72% and a return on equity of 19.55%. On average, equities research analysts forecast that The Hartford Financial Services Group, Inc. will post 11.11 earnings per share for the current year.

The Hartford Financial Services Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, April 2nd. Stockholders of record on Monday, March 3rd were given a dividend of $0.52 per share. The ex-dividend date was Monday, March 3rd. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.66%. The Hartford Financial Services Group’s dividend payout ratio is presently 20.10%.

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.