HighPoint Advisor Group LLC Makes New Investment in The Hartford Financial Services Group, Inc. (NYSE:HIG)

HighPoint Advisor Group LLC bought a new position in shares of The Hartford Financial Services Group, Inc. (NYSE:HIG) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 2,672 shares of the insurance provider’s stock, valued at approximately $215,000.

A number of other institutional investors also recently modified their holdings of the business. GoalVest Advisory LLC boosted its holdings in The Hartford Financial Services Group by 464.8% in the 4th quarter. GoalVest Advisory LLC now owns 305 shares of the insurance provider’s stock valued at $25,000 after purchasing an additional 251 shares during the period. Turtle Creek Wealth Advisors LLC bought a new stake in shares of The Hartford Financial Services Group in the fourth quarter valued at approximately $26,000. CVA Family Office LLC acquired a new stake in The Hartford Financial Services Group during the fourth quarter worth approximately $27,000. Chilton Capital Management LLC bought a new position in The Hartford Financial Services Group during the 4th quarter worth $28,000. Finally, Cape Investment Advisory Inc. raised its holdings in The Hartford Financial Services Group by 189.9% in the 4th quarter. Cape Investment Advisory Inc. now owns 374 shares of the insurance provider’s stock valued at $30,000 after acquiring an additional 245 shares in the last quarter. Institutional investors own 93.42% of the company’s stock.

The Hartford Financial Services Group Stock Down 0.7 %

Shares of NYSE:HIG opened at $102.94 on Friday. The firm has a market cap of $30.45 billion, a P/E ratio of 11.70, a P/E/G ratio of 0.85 and a beta of 0.93. The Hartford Financial Services Group, Inc. has a 12-month low of $68.82 and a 12-month high of $103.96. The business has a fifty day simple moving average of $100.12 and a 200 day simple moving average of $93.69. The company has a quick ratio of 0.31, a current ratio of 0.31 and a debt-to-equity ratio of 0.29.

The Hartford Financial Services Group (NYSE:HIG) last issued its quarterly earnings data on Thursday, April 25th. The insurance provider reported $2.34 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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. During the same quarter last year, the business earned $1.68 earnings per share. The Hartford Financial Services Group’s revenue was up 8.6% compared to the same quarter last year. Analysts predict that The Hartford Financial Services Group, Inc. will post 9.94 earnings per share for the current year.

The Hartford Financial Services Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 2nd. Stockholders of record on Monday, June 3rd will be given a $0.47 dividend. The ex-dividend date of this dividend is Monday, June 3rd. This represents a $1.88 dividend on an annualized basis and a dividend yield of 1.83%. The Hartford Financial Services Group’s dividend payout ratio (DPR) is currently 21.36%.

Insider Activity

In related news, CFO Beth Ann Costello sold 72,076 shares of the business’s stock in a transaction 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 in the company, valued at $6,896,840.99. The transaction was disclosed in a document filed with the SEC, which is available through this link. In related news, EVP Jonathan R. Bennett sold 18,335 shares of the firm’s stock in a transaction that occurred on Thursday, May 9th. The stock was sold at an average price of $100.78, for a total transaction of $1,847,801.30. Following the completion of the sale, the executive vice president now owns 25,643 shares of the company’s stock, valued at $2,584,301.54. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Beth Ann Costello sold 72,076 shares of the business’s 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 completion of the transaction, the chief financial officer now directly owns 69,169 shares in the company, valued at $6,896,840.99. The disclosure for this sale can be found here. Insiders own 1.60% of the company’s stock.

Wall Street Analysts Forecast Growth

HIG has been the topic of a number of recent analyst reports. Raymond James restated an “outperform” rating and issued a $120.00 price target (up previously from $100.00) on shares of The Hartford Financial Services Group in a research report on Monday, April 1st. Evercore ISI boosted their target price on shares of The Hartford Financial Services Group from $96.00 to $104.00 and gave the company an “in-line” rating in a research report on Thursday, April 11th. The Goldman Sachs Group upped their price target on shares of The Hartford Financial Services Group from $105.00 to $111.00 and gave the stock a “buy” rating in a report on Thursday, June 13th. Argus lifted their price objective on shares of The Hartford Financial Services Group from $104.00 to $110.00 and gave the company a “buy” rating in a research note on Wednesday, May 15th. Finally, Keefe, Bruyette & Woods raised their target price on The Hartford Financial Services Group from $114.00 to $120.00 and gave the company an “outperform” rating in a report on Wednesday, April 10th. Eight analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $106.24.

About The Hartford Financial Services Group

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.