Financial Services News

Dupont Capital Management Corp Has $575,000 Stake in The Hartford Financial Services Group, Inc. (NYSE:HIG)

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Dupont Capital Management Corp boosted its position in shares of The Hartford Financial Services Group, Inc. (NYSE:HIG – Get Rating) by 238.6% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 9,280 shares of the insurance provider’s stock after purchasing an additional 6,539 shares during the period. Dupont Capital Management Corp’s holdings in The Hartford Financial Services Group were worth $575,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in HIG. SouthState Corp raised its position in The Hartford Financial Services Group by 1,369.2% during the second quarter. SouthState Corp now owns 382 shares of the insurance provider’s stock valued at $25,000 after buying an additional 356 shares during the period. Core Alternative Capital increased its holdings in shares of The Hartford Financial Services Group by 706.1% in the 2nd 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 period. Gradient Investments LLC purchased a new stake in shares of The Hartford Financial Services Group in the third quarter worth approximately $27,000. Trustcore Financial Services LLC purchased a new position in The Hartford Financial Services Group during the second quarter valued at approximately $30,000. Finally, Janiczek Wealth Management LLC lifted its position in The Hartford Financial Services Group by 38.4% in the 3rd quarter. Janiczek Wealth Management LLC now owns 588 shares of the insurance provider’s stock worth $38,000 after buying an additional 163 shares in the last quarter. 89.93% of the stock is owned by institutional investors and hedge funds.

The Hartford Financial Services Group Trading Up 0.6 %

Shares of The Hartford Financial Services Group stock opened at $76.68 on Friday. The company has a market cap of $24.39 billion, a price-to-earnings ratio of 13.36, a PEG ratio of 1.30 and a beta of 0.91. The Hartford Financial Services Group, Inc. has a 1 year low of $60.17 and a 1 year high of $79.44. The company’s fifty day simple moving average is $75.14 and its 200-day simple moving average is $69.09. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 0.35.

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

The Hartford Financial Services Group Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 4th. Stockholders of record on Thursday, December 1st were issued a dividend of $0.425 per share. This represents a $1.70 annualized dividend and a dividend yield of 2.22%. The ex-dividend date was Wednesday, November 30th. This is a positive change from The Hartford Financial Services Group’s previous quarterly dividend of $0.39. The Hartford Financial Services Group’s dividend payout ratio (DPR) is presently 29.62%.

Analyst Upgrades and Downgrades

Several brokerages 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 research report on Tuesday, January 10th. Wells Fargo & Company raised their price objective on shares of The Hartford Financial Services Group from $82.00 to $85.00 and gave the company an “overweight” rating in a research report on Monday, October 31st. StockNews.com cut The Hartford Financial Services Group from a “buy” rating to a “hold” rating in a research report on Tuesday, January 10th. 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 report on Monday, January 9th. Finally, Barclays boosted their target price on The Hartford Financial Services Group from $78.00 to $82.00 and gave the stock an “overweight” rating in a report on Tuesday, November 1st. Five equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, The Hartford Financial Services Group has an average rating of “Hold” and a consensus price target of $83.82.

Insider Activity

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

The Hartford Financial Services Group Company Profile

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The Hartford Financial Services Group, Inc provides insurance and financial services to individual and business customers in the United States, the United Kingdom, and internationally. Its Commercial Lines segment offers workers’ compensation, property, automobile, liability, umbrella, bond, marine, livestock, and reinsurance; and customized insurance products and risk management services, including professional liability, bond, surety, and specialty casualty coverages through regional offices, branches, sales and policyholder service centers, independent retail agents and brokers, wholesale agents, and reinsurance brokers.

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

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