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Rockefeller Capital Management L.P. boosted its holdings in shares of The Hartford Financial Services Group, Inc. (NYSE:HIG – Get Rating) by 4,756.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 96,066 shares of the insurance provider’s stock after buying an additional 94,088 shares during the quarter. Rockefeller Capital Management L.P.’s holdings in The Hartford Financial Services Group were worth $5,949,000 at the end of the most recent quarter.
Several other large investors also recently added to or reduced their stakes in HIG. SouthState Corp lifted its holdings 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 purchasing an additional 356 shares in the last quarter. Core Alternative Capital lifted its holdings in The Hartford Financial Services Group by 706.1% during 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 in the last quarter. Gradient Investments LLC purchased a new position in The Hartford Financial Services Group during the third quarter valued at 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 holdings in The Hartford Financial Services Group by 38.4% during 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 in the last quarter. 89.93% of the stock is currently owned by institutional investors.
Insider Transactions at The Hartford Financial Services Group
In other news, EVP Amy Stepnowski sold 12,467 shares of the company’s stock in a transaction dated Monday, December 12th. The shares were sold at an average price of $74.70, for a total value of $931,284.90. Following the transaction, the executive vice president now directly owns 13,167 shares in the company, valued at $983,574.90. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, EVP Amy Stepnowski sold 12,467 shares of the company’s stock in a transaction dated Monday, December 12th. The shares were sold at an average price of $74.70, for a total value of $931,284.90. Following the transaction, the executive vice president now directly owns 13,167 shares in the company, valued at $983,574.90. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP David C. Robinson sold 18,534 shares of the company’s stock in a transaction dated Wednesday, December 7th. The stock was sold at an average price of $74.93, for a total transaction of $1,388,752.62. Following the completion of the transaction, the executive vice president now owns 1 shares in the company, valued at $74.93. 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. Insiders own 1.80% of the company’s stock.
Analyst Upgrades and Downgrades
Several equities analysts have weighed in on HIG shares. Piper Sandler lifted their price target on shares of The Hartford Financial Services Group from $80.00 to $83.00 in a report on Tuesday, January 10th. Morgan Stanley boosted their target price on shares of The Hartford Financial Services Group from $76.00 to $80.00 and gave the stock an “equal weight” rating in a report on Tuesday, November 22nd. UBS Group boosted their target price on shares of The Hartford Financial Services Group to $95.00 in a report on Friday, November 4th. The Goldman Sachs Group downgraded shares of The Hartford Financial Services Group from a “buy” rating to a “neutral” rating and set a $84.00 price target on the stock. in a research note on Monday, January 9th. Finally, BMO Capital Markets began coverage on shares of The Hartford Financial Services Group in a research note on Thursday. They set a “market perform” rating and a $77.00 price target on the stock. Five research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $83.50.
The Hartford Financial Services Group Trading Up 1.0 %
HIG stock opened at $75.05 on Friday. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 0.35. The Hartford Financial Services Group, Inc. has a twelve month low of $60.17 and a twelve month high of $79.44. The stock has a market capitalization of $23.87 billion, a price-to-earnings ratio of 13.07, a price-to-earnings-growth ratio of 1.28 and a beta of 0.91. The firm’s fifty day simple moving average is $75.33 and its two-hundred day simple moving average is $69.43.
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 for the quarter, beating analysts’ consensus estimates 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 business had revenue of $5.58 billion for the quarter, compared to analysts’ expectations of $5.54 billion. During the same quarter in the previous year, the business posted $1.26 earnings per share. The business’s revenue was down 1.9% compared to the same quarter last year. As a group, analysts anticipate that The Hartford Financial Services Group, Inc. will post 7.11 earnings per share for the current year.
The Hartford Financial Services Group Increases Dividend
The business also recently declared a quarterly dividend, which was paid on Wednesday, January 4th. Stockholders of record on Thursday, December 1st were issued a $0.425 dividend. The ex-dividend date of this dividend was Wednesday, November 30th. This is a boost from The Hartford Financial Services Group’s previous quarterly dividend of $0.39. This represents a $1.70 dividend on an annualized basis and a dividend yield of 2.27%. The Hartford Financial Services Group’s dividend payout ratio is presently 29.62%.
The Hartford Financial Services Group Profile
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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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