Mizuho Securities USA LLC Grows Stock Holdings in The Hartford Financial Services Group, Inc. (NYSE:HIG)

Mizuho Securities USA LLC increased its stake in shares of The Hartford Financial Services Group, Inc. (NYSE:HIG) by 44.6% during the fourth quarter, Holdings Channel reports. The institutional investor owned 27,475 shares of the insurance provider’s stock after acquiring an additional 8,475 shares during the period. Mizuho Securities USA LLC’s holdings in The Hartford Financial Services Group were worth $3,006,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Thurston Springer Miller Herd & Titak Inc. boosted its holdings in The Hartford Financial Services Group by 3,342.9% during the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 241 shares of the insurance provider’s stock worth $26,000 after buying an additional 234 shares in the last quarter. Barrett & Company Inc. lifted its holdings in shares of The Hartford Financial Services Group by 46.5% in the fourth quarter. Barrett & Company Inc. now owns 293 shares of the insurance provider’s stock valued at $32,000 after purchasing an additional 93 shares in the last quarter. BNP Paribas purchased a new stake in shares of The Hartford Financial Services Group in the third quarter valued at about $35,000. DT Investment Partners LLC lifted its holdings in shares of The Hartford Financial Services Group by 49.8% in the fourth quarter. DT Investment Partners LLC now owns 331 shares of the insurance provider’s stock valued at $36,000 after purchasing an additional 110 shares in the last quarter. Finally, Flagship Wealth Advisors LLC purchased a new stake in shares of The Hartford Financial Services Group in the fourth quarter valued at about $36,000. Hedge funds and other institutional investors own 93.42% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on HIG shares. StockNews.com downgraded shares of The Hartford Financial Services Group from a “buy” rating to a “hold” rating in a report on Tuesday, March 18th. Keefe, Bruyette & Woods upped their price target on shares of The Hartford Financial Services Group from $139.00 to $140.00 and gave the company an “outperform” rating in a report on Wednesday, February 5th. BMO Capital Markets upped their price target on shares of 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. 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 report on Monday, February 3rd. Finally, Piper Sandler boosted their price objective on shares of 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 equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $122.94.

The Hartford Financial Services Group Stock Performance

Shares of HIG stock opened at $119.20 on Monday. The Hartford Financial Services Group, Inc. has a one year low of $94.47 and a one year 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 company has a 50 day moving average price of $114.36 and a 200 day moving average price of $115.03. The firm has a market capitalization of $34.02 billion, a price-to-earnings ratio of 11.52, a price-to-earnings-growth ratio of 1.12 and a beta of 0.91.

The Hartford Financial Services Group (NYSE:HIG) last issued its quarterly 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%. Sell-side analysts anticipate that The Hartford Financial Services Group, Inc. will post 11.11 EPS for the current year.

The Hartford Financial Services Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 2nd. Stockholders of record on Monday, March 3rd will be given a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 1.74%. The ex-dividend date is Monday, March 3rd. The Hartford Financial Services Group’s payout ratio is currently 20.10%.

Insider Transactions at The Hartford Financial Services Group

In other news, EVP Robert W. Paiano sold 13,138 shares of the stock in a transaction on Tuesday, March 11th. The shares were sold at an average price of $117.20, for a total value of $1,539,773.60. Following the completion of the sale, the executive vice president now owns 31,678 shares of the company’s stock, valued at $3,712,661.60. This represents a 29.32 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Christopher Swift sold 98,061 shares of the company’s stock in a transaction 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 trade represents a 31.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company 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.