The Hartford Financial Services Group, Inc. (NYSE:HIG) Shares Purchased by Elo Mutual Pension Insurance Co

Elo Mutual Pension Insurance Co raised its stake in The Hartford Financial Services Group, Inc. (NYSE:HIG) by 14.7% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 29,991 shares of the insurance provider’s stock after purchasing an additional 3,854 shares during the quarter. Elo Mutual Pension Insurance Co’s holdings in The Hartford Financial Services Group were worth $3,281,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of HIG. Catalyst Financial Partners LLC raised its stake in shares of The Hartford Financial Services Group by 3.0% in the 4th quarter. Catalyst Financial Partners LLC now owns 3,079 shares of the insurance provider’s stock valued at $337,000 after acquiring an additional 90 shares during the period. Barrett & Company Inc. lifted 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 purchasing an additional 93 shares in the last quarter. Wilmington Savings Fund Society FSB boosted its position in shares of The Hartford Financial Services Group by 2.2% during the fourth quarter. Wilmington Savings Fund Society FSB now owns 4,468 shares of the insurance provider’s stock worth $489,000 after buying an additional 97 shares during the period. Lifestyle Asset Management Inc. grew its stake in shares of The Hartford Financial Services Group by 0.9% in the fourth quarter. Lifestyle Asset Management Inc. now owns 11,499 shares of the insurance provider’s stock valued at $1,258,000 after buying an additional 98 shares in the last quarter. Finally, Smithfield Trust Co raised its holdings in shares of The Hartford Financial Services Group by 26.7% in the 4th quarter. Smithfield Trust Co now owns 475 shares of the insurance provider’s stock valued at $51,000 after buying an additional 100 shares during the period. Hedge funds and other institutional investors own 93.42% of the company’s stock.

Insider Transactions at The Hartford Financial Services Group

In related news, CEO Christopher Swift sold 98,061 shares of the firm’s stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $120.39, for a total transaction of $11,805,563.79. Following 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 transaction was disclosed in a filing with the SEC, which is available through this link. Also, 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 value of $1,539,773.60. Following the sale, the executive vice president now directly owns 31,678 shares of the company’s stock, valued at approximately $3,712,661.60. This represents a 29.32 % 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 Price Performance

Shares of NYSE:HIG opened at $122.21 on Friday. 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, Inc. has a 12 month low of $94.47 and a 12 month high of $124.90. The firm has a market capitalization 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 company’s fifty day moving average price is $115.52 and its 200 day moving average price is $115.27.

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 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%. As a group, sell-side analysts predict that The Hartford Financial Services Group, Inc. will post 11.11 earnings per share for the current fiscal year.

The Hartford Financial Services Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 2nd. Stockholders of record on Monday, March 3rd will be issued a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 1.70%. The ex-dividend date is Monday, March 3rd. The Hartford Financial Services Group’s payout ratio is currently 20.10%.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. Piper Sandler lifted their target price 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. StockNews.com downgraded shares of The Hartford Financial Services Group from a “buy” rating to a “hold” rating in a research note on Tuesday, March 18th. Barclays raised shares of The Hartford Financial Services Group from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $130.00 to $135.00 in a research report on Monday, January 6th. Keefe, Bruyette & Woods boosted their price target on shares of The Hartford Financial Services Group from $139.00 to $140.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 5th. Finally, Wells Fargo & Company decreased 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 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. Based on data from MarketBeat.com, The Hartford Financial Services Group currently has an average rating of “Moderate Buy” and an average target price of $122.94.

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.