AE Wealth Management LLC Grows Position in The Hartford Financial Services Group, Inc. (NYSE:HIG)

AE Wealth Management LLC boosted its holdings in The Hartford Financial Services Group, Inc. (NYSE:HIGGet Rating) by 6.8% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 3,408 shares of the insurance provider’s stock after acquiring an additional 218 shares during the quarter. AE Wealth Management LLC’s holdings in The Hartford Financial Services Group were worth $211,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. SouthState Corp grew its holdings in The Hartford Financial Services Group by 1,369.2% in the second quarter. SouthState Corp now owns 382 shares of the insurance provider’s stock valued at $25,000 after purchasing an additional 356 shares during the last quarter. Core Alternative Capital grew its holdings in The Hartford Financial Services Group by 706.1% in the second quarter. Core Alternative Capital now owns 395 shares of the insurance provider’s stock valued at $26,000 after purchasing an additional 346 shares during the last quarter. Gradient Investments LLC acquired a new stake in The Hartford Financial Services Group in the third quarter valued at $27,000. Trustcore Financial Services LLC acquired a new stake in The Hartford Financial Services Group in the second quarter valued at $30,000. Finally, Janiczek Wealth Management LLC grew its holdings in The Hartford Financial Services Group by 38.4% in the third quarter. Janiczek Wealth Management LLC now owns 588 shares of the insurance provider’s stock valued at $38,000 after purchasing an additional 163 shares during the last quarter. Hedge funds and other institutional investors own 89.93% of the company’s stock.

Insider Activity at The Hartford Financial Services Group

In related news, President Douglas G. Elliot sold 19,565 shares of the firm’s stock in a transaction dated Friday, October 28th. The stock was sold at an average price of $72.55, for a total transaction of $1,419,440.75. Following the sale, the president now directly owns 251,133 shares in the company, valued at approximately $18,219,699.15. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other The Hartford Financial Services Group news, President Douglas G. Elliot sold 147,986 shares of the firm’s stock in a transaction that occurred on Monday, October 31st. The stock was sold at an average price of $72.61, for a total transaction of $10,745,263.46. Following the completion of the sale, the president now owns 251,133 shares in the company, valued at approximately $18,234,767.13. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, President Douglas G. Elliot sold 19,565 shares of the firm’s stock in a transaction that occurred on Friday, October 28th. The shares were sold at an average price of $72.55, for a total value of $1,419,440.75. Following the sale, the president now owns 251,133 shares of the company’s stock, valued at approximately $18,219,699.15. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 224,198 shares of company stock worth $16,404,676. 1.80% of the stock is currently owned by company insiders.

The Hartford Financial Services Group Stock Performance

The Hartford Financial Services Group stock opened at $75.11 on Thursday. The stock’s 50-day moving average is $75.30 and its 200-day moving average is $69.31. The company has a market cap of $23.89 billion, a price-to-earnings ratio of 13.09, a price-to-earnings-growth ratio of 1.31 and a beta of 0.90. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.29 and a quick ratio of 0.29. The Hartford Financial Services Group, Inc. has a 12 month low of $60.17 and a 12 month high of $79.44.

The Hartford Financial Services Group (NYSE:HIGGet Rating) last released its quarterly earnings data on Thursday, October 27th. The insurance provider reported $1.44 EPS for the quarter, topping analysts’ consensus estimates of $1.29 by $0.15. The company had revenue of $5.58 billion for the quarter, compared to the consensus estimate of $5.54 billion. The Hartford Financial Services Group had a return on equity of 16.51% and a net margin of 8.82%. The company’s quarterly revenue was down 1.9% compared to the same quarter last year. During the same period last year, the business posted $1.26 EPS. Equities analysts anticipate that The Hartford Financial Services Group, Inc. will post 7.13 earnings per share for the current year.

The Hartford Financial Services Group Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, January 4th. Investors of record on Thursday, December 1st were issued a dividend of $0.425 per share. This is an increase from The Hartford Financial Services Group’s previous quarterly dividend of $0.39. This represents a $1.70 annualized dividend and a dividend yield of 2.26%. The ex-dividend date of this dividend was Wednesday, November 30th. The Hartford Financial Services Group’s dividend payout ratio (DPR) is presently 29.62%.

Analysts Set New Price Targets

Several research firms have weighed in on HIG. Piper Sandler upped their target price on The Hartford Financial Services Group from $80.00 to $83.00 in a report on Tuesday, January 10th. Wells Fargo & Company increased their price objective on The Hartford Financial Services Group from $82.00 to $85.00 and gave the company an “overweight” rating in a research note on Monday, October 31st. UBS Group increased their price objective on The Hartford Financial Services Group to $95.00 in a research note on Friday, November 4th. The Goldman Sachs Group lowered The Hartford Financial Services Group from a “buy” rating to a “neutral” rating and set a $84.00 price objective on the stock. in a research note on Monday, January 9th. Finally, Barclays increased their price objective on The Hartford Financial Services Group from $78.00 to $82.00 and gave the company an “overweight” rating in a research note on Tuesday, November 1st. Four analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, The Hartford Financial Services Group presently has an average rating of “Moderate Buy” and an average price target of $83.82.

About The Hartford Financial Services Group

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The Hartford Financial Services Group, Inc is an insurance and financial services company. It operates through the following segments: Commercial Lines, Personal Lines, Property & Casualty Other Operations, Group Benefits, Hartford Funds, and Corporate. The Commercial Lines segment provides workers’ compensation, property, automobile, liability and umbrella coverage under several different products.

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Institutional Ownership by Quarter for The Hartford Financial Services Group (NYSE:HIG)

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