30,407 shares of The Hartford Financial Services Group, Inc. (NYSE:HIG) purchased by Twin Tree Management LP

Twin Tree Management LP bought a new position in shares of The Hartford Financial Services Group, Inc. (NYSE:HIG – Free Report) in the first quarter, according to the company in its most recent filing with the SEC. The company bought 30,407 shares of the insurance company’s stock, valued at approximately $3,133,000.

A number of other hedge funds also made changes to their positions in HIG. Wellington Management Group LLP increased its position in shares of The Hartford Financial Services Group by 71.2% in the 3rd quarter. Wellington Management Group LLP now owns 32,866 shares of the insurance company’s stock worth $2,331,000 after purchasing an additional 13,663 shares in the last quarter. Ziegler Capital Management LLC acquired a new stake in The Hartford Financial Services Group in the 4th quarter worth approximately $1,444,000. Whittier Trust Co. increased its position in The Hartford Financial Services Group by 161.6% in the 4th quarter. Whittier Trust Co. now owns 3,330 shares of the insurance company’s stock worth $268,000 after purchasing an additional 2,057 shares in the last quarter. Insight Wealth Strategies LLC increased its position in The Hartford Financial Services Group by 4.5% in the 4th quarter. Insight Wealth Strategies LLC now owns 17,196 shares of the insurance company’s stock worth $1,382,000 after acquiring an additional 735 shares in the last quarter. Finally, Advisor Resource Council increased its position in The Hartford Financial Services Group by 243.2% in the 4th quarter. Advisor Resource Council now owns 16,973 shares of the insurance company’s stock worth $1,364,000 after acquiring an additional 12,028 shares in the last quarter. Institutional investors and hedge funds own 93.42% of the company’s stock.

Shares of Hartford Financial Services Group fell 3.8%

Hartford Financial Services Group stock opened at $101.11 on Friday. The company’s 50-day simple moving average is $101.35 and its 200-day simple moving average is $96.73. Hartford Financial Services Group, Inc. has a 52-week low of $68.82 and a 52-week high of $106.93. The company has a market cap of $29.90 billion, a price to earnings ratio of 11.49, a PEG ratio of 0.84 and a beta of 0.93. 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 Hartford Financial Services Group (NYSE:HIG – Get Free Report) last released its quarterly earnings results on Thursday, April 25. The insurance provider reported $2.34 EPS for the quarter, missing the consensus estimate of $2.43 by ($0.09). The Hartford Financial Services Group had a return on equity of 20.64% and a net margin of 10.87%. The company had revenue of $6.42 billion for the quarter, compared to the consensus estimate of $6.51 billion. In the same period last year, the company earned $1.68 EPS. The company’s revenue increased 8.6% compared to the same quarter last year. As a group, sell-side analysts expect that The Hartford Financial Services Group, Inc. will post 9.83 EPS for the current year.

Hartford Financial Services Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 2nd. Shareholders of record on Tuesday, September 3rd will receive a dividend of $0.47. This represents a $1.88 annualized dividend and a yield of 1.86%. The ex-dividend date is Tuesday, September 3rd. Hartford Financial Services Group’s payout ratio currently stands at 21.36%.

Insider Purchases and Sales at The Hartford Financial Services Group

In other The Hartford Financial Services Group news, CFO Beth Ann Costello sold 72,076 shares of The Hartford Financial Services Group stock in a transaction that occurred on Wednesday, May 8th. The shares were sold at an average price of $99.71, for a total value of $7,186,697.96. Following the transaction, the chief financial officer now owns 69,169 shares of the company’s stock, valued at $6,896,840.99. The sale was disclosed in a legal filing with the SEC, which can be accessed at this link. In other news, EVP Michael R. Fisher sold 4,088 shares of The Hartford Financial Services Group stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $101.47, for a total value of $414,809.36. Following the sale, the executive vice president now directly owns 14,818 shares of the company’s stock, valued at $1,503,582.46. The transaction was disclosed in a filing with the Securities & Exchange Commission, available on the SEC’s website. Also, CFO Beth Ann Costello sold 72,076 shares of The Hartford Financial Services Group in a transaction that occurred on Wednesday, May 8th. The shares were sold at an average price of $99.71, for a total transaction of $7,186,697.96. Following the completion of the sale, the chief financial officer now owns 69,169 shares of the company’s stock, valued at $6,896,840.99. The disclosure for this sale can be found here. During the last quarter, insiders have sold 94,499 shares of the company’s stock valued at $9,449,309. 1.60% of the shares are currently held by corporate insiders.

Wall Street analysts weigh in

Several equities research analysts have weighed in on the stock. 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. JPMorgan Chase & Co. raised their price target on shares of The Hartford Financial Services Group from $104.00 to $116.00 and gave the company a “neutral” rating in a research report on Thursday, July 11th. Citigroup downgraded shares of The Hartford Financial Services Group from a “buy” rating to a “neutral” rating and lowered their price target on the stock from $116.00 to $114.00 in a research report on Friday, June 28th. Piper Sandler reiterated an “overweight” rating and set a $115.00 price target on shares of The Hartford Financial Services Group in a research report on Monday, April 1st. Finally, Royal Bank of Canada reiterated a “sector perform” rating and set a $105.00 price target on shares of The Hartford Financial Services Group in a research report on Friday, June 28th. Eight equities analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. The firm has a consensus rating of “Moderate Buy” and a consensus price target of $107.50, according to MarketBeat.

Get our latest research report on The Hartford Financial Services Group

The Hartford Financial Services Group Profile

(Free Report)

The Hartford Financial Services Group, Inc., together with its subsidiaries, provides insurance and financial services to personal and business customers in the United States, the United Kingdom and internationally. The Commercial Lines segment offers insurance coverages including workers’ compensation, property, auto, general and professional liability, parcel, umbrella, fidelity and surety, marine, livestock, casualty, health and reinsurance through regional offices, branches, policyholder sales and service centers, independent retail agents and brokers, wholesale agents and reinsurance brokers.

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