TCTC Holdings LLC Grows Position in The Hartford Financial Services Group, Inc. (NYSE:HIG)

TCTC Holdings LLC grew its stake in shares of The Hartford Financial Services Group, Inc. (NYSE:HIG) by 49.5% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 719 shares of the insurance provider’s stock after buying an additional 238 shares during the period. TCTC Holdings LLC’s holdings in The Hartford Financial Services Group were worth $79,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. AustralianSuper Pty Ltd boosted its holdings in shares of The Hartford Financial Services Group by 265.5% during the fourth quarter. AustralianSuper Pty Ltd now owns 1,213,074 shares of the insurance provider’s stock worth $132,710,000 after purchasing an additional 881,224 shares during the last quarter. Assenagon Asset Management S.A. boosted its holdings in shares of The Hartford Financial Services Group by 437.9% during the fourth quarter. Assenagon Asset Management S.A. now owns 871,318 shares of the insurance provider’s stock worth $95,322,000 after purchasing an additional 709,324 shares during the last quarter. Proficio Capital Partners LLC boosted its holdings in shares of The Hartford Financial Services Group by 11,904.7% during the fourth quarter. Proficio Capital Partners LLC now owns 631,565 shares of the insurance provider’s stock worth $632,000 after purchasing an additional 626,304 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in shares of The Hartford Financial Services Group during the fourth quarter worth $65,256,000. Finally, Nordea Investment Management AB boosted its holdings in shares of The Hartford Financial Services Group by 17.3% during the fourth quarter. Nordea Investment Management AB now owns 3,938,421 shares of the insurance provider’s stock worth $430,272,000 after purchasing an additional 581,103 shares during the last quarter. Hedge funds and other institutional investors own 93.42% of the company’s stock.

The Hartford Financial Services Group Trading Up 1.3 %

NYSE:HIG opened at $120.48 on Tuesday. 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 $34.38 billion, a PE ratio of 11.64, a price-to-earnings-growth ratio of 1.12 and a beta of 0.91. 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 business’s 50-day moving average is $113.49 and its two-hundred day moving average is $114.94.

The Hartford Financial Services Group (NYSE:HIG) last announced its earnings results on Thursday, January 30th. The insurance provider reported $2.94 earnings per share (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%. Research 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 Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 2nd. Stockholders of record on Monday, March 3rd will be given a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.73%. The ex-dividend date is Monday, March 3rd. The Hartford Financial Services Group’s payout ratio is 20.10%.

Analyst Upgrades and Downgrades

HIG has been the topic of several analyst reports. Wells Fargo & Company decreased their price objective on The Hartford Financial Services Group from $130.00 to $126.00 and set an “overweight” rating on the stock in a report on Monday, February 3rd. Barclays upgraded The Hartford Financial Services Group from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $130.00 to $135.00 in a report on Monday, January 6th. BMO Capital Markets lifted their target price on 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 reiterated a “sector perform” rating and issued a $125.00 target price on shares of The Hartford Financial Services Group in a report on Monday, February 3rd. Finally, 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 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 issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $122.94.

Insider Transactions at The Hartford Financial Services Group

In other news, EVP Robert W. Paiano sold 13,138 shares of The Hartford Financial Services Group stock in a transaction dated Tuesday, March 11th. The stock was 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 of the company’s stock, valued at approximately $3,712,661.60. The trade was a 29.32 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 1.60% of the company’s stock.

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.