First Trust Direct Indexing L.P. Buys 1,191 Shares of The Hartford Financial Services Group, Inc. (NYSE:HIG)

First Trust Direct Indexing L.P. raised its stake in The Hartford Financial Services Group, Inc. (NYSE:HIG) by 27.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 5,556 shares of the insurance provider’s stock after purchasing an additional 1,191 shares during the period. First Trust Direct Indexing L.P.’s holdings in The Hartford Financial Services Group were worth $447,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the stock. Invesco Ltd. increased its position in The Hartford Financial Services Group by 1.3% in the 3rd quarter. Invesco Ltd. now owns 7,421,268 shares of the insurance provider’s stock valued at $526,242,000 after buying an additional 91,911 shares in the last quarter. Victory Capital Management Inc. raised its holdings in The Hartford Financial Services Group by 2.1% during the fourth quarter. Victory Capital Management Inc. now owns 5,247,966 shares of the insurance provider’s stock worth $421,832,000 after buying an additional 105,799 shares during the last quarter. Ameriprise Financial Inc. raised its holdings in The Hartford Financial Services Group by 2.5% during the third quarter. Ameriprise Financial Inc. now owns 3,503,815 shares of the insurance provider’s stock worth $248,646,000 after buying an additional 87,001 shares during the last quarter. Northern Trust Corp lifted its stake in shares of The Hartford Financial Services Group by 2.7% in the third quarter. Northern Trust Corp now owns 3,363,524 shares of the insurance provider’s stock valued at $238,507,000 after buying an additional 88,131 shares in the last quarter. Finally, Morgan Stanley grew its holdings in shares of The Hartford Financial Services Group by 0.9% during the third quarter. Morgan Stanley now owns 3,088,713 shares of the insurance provider’s stock valued at $219,021,000 after buying an additional 28,092 shares during the last quarter. Institutional investors and hedge funds own 93.42% of the company’s stock.

The Hartford Financial Services Group Trading Up 0.4 %

Shares of The Hartford Financial Services Group stock opened at $97.90 on Monday. The company has a 50 day simple moving average of $98.81 and a two-hundred day simple moving average of $87.34. The company has a debt-to-equity ratio of 0.29, a current ratio of 0.31 and a quick ratio of 0.31. The firm has a market cap of $28.95 billion, a PE ratio of 11.13, a PEG ratio of 1.40 and a beta of 0.90. The Hartford Financial Services Group, Inc. has a 1 year low of $67.05 and a 1 year high of $103.64.

The Hartford Financial Services Group (NYSE:HIG) last released its earnings results on Thursday, April 25th. The insurance provider reported $2.34 EPS for the quarter, missing analysts’ consensus estimates of $2.43 by ($0.09). The Hartford Financial Services Group had a net margin of 10.87% and a return on equity of 20.64%. The firm had revenue of $6.42 billion during the quarter, compared to the consensus estimate of $6.51 billion. During the same period in the prior year, the company earned $1.68 EPS. The firm’s revenue was up 8.6% compared to the same quarter last year. Analysts expect that The Hartford Financial Services Group, Inc. will post 10.01 earnings per share for the current fiscal year.

The Hartford Financial Services Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 2nd. Investors of record on Monday, March 4th were given a $0.47 dividend. The ex-dividend date was Friday, March 1st. This represents a $1.88 dividend on an annualized basis and a yield of 1.92%. The Hartford Financial Services Group’s payout ratio is 21.36%.

Analyst Ratings Changes

A number of research analysts have recently weighed in on HIG shares. Piper Sandler restated an “overweight” rating and issued a $115.00 target price on shares of The Hartford Financial Services Group in a report on Monday, April 1st. TD Cowen raised their price target on shares of The Hartford Financial Services Group to $144.00 and gave the company a “buy” rating in a research report on Wednesday, April 3rd. Evercore ISI upped their price objective on shares of The Hartford Financial Services Group from $96.00 to $104.00 and gave the stock an “in-line” rating in a research report on Thursday, April 11th. Morgan Stanley dropped their target price on shares of The Hartford Financial Services Group from $110.00 to $109.00 and set an “equal weight” rating on the stock in a research report on Friday, April 26th. Finally, Royal Bank of Canada upped their target price on The Hartford Financial Services Group from $77.00 to $95.00 and gave the company a “sector perform” rating in a report on Monday, February 5th. Seven investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, The Hartford Financial Services Group currently has a consensus rating of “Moderate Buy” and an average price target of $105.44.

Insiders Place Their Bets

In other news, SVP Allison G. Niderno sold 1,332 shares of the company’s stock in a transaction on Tuesday, February 6th. The shares were sold at an average price of $89.74, for a total value of $119,533.68. Following the completion of the sale, the senior vice president now owns 630 shares of the company’s stock, valued at approximately $56,536.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other The Hartford Financial Services Group news, EVP David C. Robinson sold 15,000 shares of The Hartford Financial Services Group stock in a transaction that occurred on Tuesday, February 6th. The stock was sold at an average price of $89.64, for a total value of $1,344,600.00. Following the transaction, the executive vice president now directly owns 8,201 shares of the company’s stock, valued at approximately $735,137.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Allison G. Niderno sold 1,332 shares of the stock in a transaction that occurred on Tuesday, February 6th. The shares were sold at an average price of $89.74, for a total value of $119,533.68. Following the sale, the senior vice president now directly owns 630 shares of the company’s stock, valued at approximately $56,536.20. The disclosure for this sale can be found here. Insiders sold a total of 106,501 shares of company stock valued at $10,141,126 over the last quarter. 1.60% of the stock is owned by corporate insiders.

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.