Nemes Rush Group LLC Buys Shares of 3,644 The Hartford Financial Services Group, Inc. (NYSE:HIG)

Nemes Rush Group LLC purchased a new position in The Hartford Financial Services Group, Inc. (NYSE:HIG) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 3,644 shares of the insurance provider’s stock, valued at approximately $399,000.

A number of other institutional investors also recently modified their holdings of HIG. National Bank of Canada FI boosted its position in The Hartford Financial Services Group by 119.3% during the fourth quarter. National Bank of Canada FI now owns 373,919 shares of the insurance provider’s stock valued at $40,909,000 after acquiring an additional 203,447 shares during the last quarter. Summit Financial LLC lifted its stake in shares of The Hartford Financial Services Group by 17.8% in the 4th quarter. Summit Financial LLC now owns 6,839 shares of the insurance provider’s stock valued at $751,000 after purchasing an additional 1,033 shares during the period. RWA Wealth Partners LLC acquired a new position in shares of The Hartford Financial Services Group in the 4th quarter valued at about $202,000. Schroder Investment Management Group boosted its position in shares of The Hartford Financial Services Group by 45.4% during the 4th quarter. Schroder Investment Management Group now owns 888,632 shares of the insurance provider’s stock valued at $97,101,000 after purchasing an additional 277,379 shares in the last quarter. Finally, Intrust Bank NA grew its stake in The Hartford Financial Services Group by 2.9% during the fourth quarter. Intrust Bank NA now owns 21,518 shares of the insurance provider’s stock worth $2,354,000 after purchasing an additional 604 shares during the period. 93.42% of the stock is owned by institutional investors.

Analyst Ratings Changes

HIG has been the topic of a number of research analyst reports. Barclays upgraded The Hartford Financial Services Group from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $130.00 to $135.00 in a report on Monday, January 6th. 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. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $125.00 price target on shares of The Hartford Financial Services Group in a research note on Monday, February 3rd. Piper Sandler increased their price objective on shares of The Hartford Financial Services Group from $130.00 to $145.00 and gave the stock an “overweight” rating in a research report on Tuesday. Finally, Wells Fargo & Company reduced their target price on 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. Ten equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, The Hartford Financial Services Group has an average rating of “Moderate Buy” and a consensus price target of $124.61.

The Hartford Financial Services Group Stock Up 0.5 %

HIG opened at $124.34 on Wednesday. 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 firm has a market capitalization of $35.48 billion, a P/E ratio of 12.01, a PEG ratio of 1.12 and a beta of 0.91. The company’s 50-day moving average is $116.00 and its 200 day moving average is $115.39. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.32 and a quick ratio of 0.32.

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

The Hartford Financial Services Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 2nd. Shareholders of record on Monday, March 3rd will be given a $0.52 dividend. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $2.08 annualized dividend and a yield of 1.67%. The Hartford Financial Services Group’s dividend payout ratio is currently 20.10%.

Insider Activity

In related news, EVP Robert W. Paiano sold 13,138 shares of the firm’s 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 sale, the executive vice president now owns 31,678 shares in the company, valued at approximately $3,712,661.60. This trade represents a 29.32 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, 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 transaction of $11,805,563.79. Following the completion of the transaction, the chief executive officer now owns 211,082 shares in the company, valued at approximately $25,412,161.98. The trade was a 31.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 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.