AlTi Global Inc. Makes New $245,000 Investment in The Hartford Financial Services Group, Inc. (NYSE:HIG)

AlTi Global Inc. acquired a new stake in The Hartford Financial Services Group, Inc. (NYSE:HIG) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 2,230 shares of the insurance provider’s stock, valued at approximately $245,000.

A number of other institutional investors and hedge funds have also recently made changes to their positions in HIG. Thurston Springer Miller Herd & Titak Inc. increased its holdings in The Hartford Financial Services Group by 3,342.9% in the 4th 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. raised 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. Itau Unibanco Holding S.A. acquired a new stake in shares of The Hartford Financial Services Group in the 4th quarter valued at approximately $35,000. DT Investment Partners LLC increased its position in The Hartford Financial Services Group by 49.8% during the 4th quarter. DT Investment Partners LLC now owns 331 shares of the insurance provider’s stock worth $36,000 after purchasing an additional 110 shares in the last quarter. Finally, Flagship Wealth Advisors LLC acquired a new stake in The Hartford Financial Services Group in the fourth quarter valued at approximately $36,000. Institutional investors and hedge funds own 93.42% of the company’s stock.

Insider Activity at The Hartford Financial Services Group

In other The Hartford Financial Services Group news, CEO Christopher Swift sold 1,144 shares of the stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $125.00, for a total transaction of $143,000.00. Following the completion of the transaction, the chief executive officer now directly owns 211,082 shares of the company’s stock, valued at approximately $26,385,250. This represents a 0.54 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Allison G. Niderno sold 1,086 shares of the business’s stock in a transaction on Monday, April 28th. The shares were sold at an average price of $119.42, for a total value of $129,690.12. Following the completion of the sale, the senior vice president now owns 622 shares in the company, valued at approximately $74,279.24. The trade was a 63.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 113,429 shares of company stock valued at $13,618,028. 1.50% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on HIG shares. Barclays raised their price objective on The Hartford Financial Services Group from $140.00 to $145.00 and gave the company an “overweight” rating in a report on Friday, April 25th. Jefferies Financial Group lowered their price objective on The Hartford Financial Services Group from $118.00 to $117.00 and set a “hold” rating for the company in a research report on Friday, April 11th. UBS Group upped their target price on The Hartford Financial Services Group from $139.00 to $142.00 and gave the company a “buy” rating in a report on Monday, April 28th. Keefe, Bruyette & Woods lowered their price target on shares of The Hartford Financial Services Group from $140.00 to $133.00 and set an “outperform” rating for the company in a report on Wednesday, April 9th. Finally, JPMorgan Chase & Co. upped their price objective on shares of The Hartford Financial Services Group from $125.00 to $129.00 and gave the company a “neutral” rating in a research note on Tuesday, April 8th. Seven investment 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. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $126.87.

The Hartford Financial Services Group Price Performance

Shares of NYSE HIG opened at $125.66 on Monday. 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 50-day simple moving average is $118.58 and its 200 day simple moving average is $115.51. The stock has a market cap of $35.70 billion, a price-to-earnings ratio of 12.14, a PEG ratio of 1.12 and a beta of 0.68. The Hartford Financial Services Group, Inc. has a fifty-two week low of $98.16 and a fifty-two week high of $125.94.

The Hartford Financial Services Group (NYSE:HIG) last announced its earnings results on Thursday, April 24th. The insurance provider reported $2.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.15 by $0.05. The Hartford Financial Services Group had a return on equity of 19.55% and a net margin of 11.72%. The company had revenue of $6.81 billion for the quarter, compared to analysts’ expectations of $6.97 billion. During the same quarter in the previous year, the firm earned $2.34 earnings per share. The Hartford Financial Services Group’s quarterly revenue was up 6.1% on a year-over-year basis. As a group, research analysts anticipate 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 firm also recently announced a quarterly dividend, which was paid on Wednesday, April 2nd. Stockholders of record on Monday, March 3rd were issued a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 1.66%. The ex-dividend date was Monday, March 3rd. The Hartford Financial Services Group’s dividend payout ratio is presently 20.74%.

The Hartford Financial Services Group 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.