Ballentine Partners LLC Purchases 3,007 Shares of The Hartford Financial Services Group, Inc. (NYSE:HIG)

Ballentine Partners LLC increased its stake in The Hartford Financial Services Group, Inc. (NYSE:HIG) by 15.4% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 22,538 shares of the insurance provider’s stock after acquiring an additional 3,007 shares during the period. Ballentine Partners LLC’s holdings in The Hartford Financial Services Group were worth $2,323,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Kestra Advisory Services LLC grew its holdings in shares of The Hartford Financial Services Group by 19.5% during the 3rd quarter. Kestra Advisory Services LLC now owns 21,252 shares of the insurance provider’s stock worth $1,507,000 after acquiring an additional 3,461 shares during the period. Envestnet Asset Management Inc. lifted its holdings in shares of The Hartford Financial Services Group by 19.6% during the 3rd quarter. Envestnet Asset Management Inc. now owns 513,351 shares of the insurance provider’s stock valued at $36,402,000 after buying an additional 84,001 shares during the period. Aigen Investment Management LP bought a new position in shares of The Hartford Financial Services Group during the 3rd quarter valued at $315,000. CI Investments Inc. lifted its holdings in shares of The Hartford Financial Services Group by 2.9% during the 3rd quarter. CI Investments Inc. now owns 5,473 shares of the insurance provider’s stock valued at $388,000 after buying an additional 153 shares during the period. Finally, Dark Forest Capital Management LP bought a new position in shares of The Hartford Financial Services Group during the 3rd quarter valued at $1,240,000. Institutional investors own 93.42% of the company’s stock.

The Hartford Financial Services Group Trading Up 0.9 %

Shares of NYSE:HIG traded up $0.90 during trading on Monday, reaching $103.84. The company’s stock had a trading volume of 31,786 shares, compared to its average volume of 1,695,547. The company has a current ratio of 0.31, a quick ratio of 0.31 and a debt-to-equity ratio of 0.29. The Hartford Financial Services Group, Inc. has a 12 month low of $68.82 and a 12 month high of $103.96. The firm’s 50 day simple moving average is $100.12 and its two-hundred day simple moving average is $93.80. The stock has a market capitalization of $30.71 billion, a PE ratio of 11.70, a price-to-earnings-growth ratio of 0.85 and a beta of 0.93.

The Hartford Financial Services Group (NYSE:HIG) last announced its quarterly 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 business had revenue of $6.42 billion during the quarter, compared to the consensus estimate of $6.51 billion. The Hartford Financial Services Group had a net margin of 10.87% and a return on equity of 20.64%. The firm’s revenue was up 8.6% on a year-over-year basis. During the same period in the previous year, the business posted $1.68 EPS. On average, research analysts predict that The Hartford Financial Services Group, Inc. will post 9.94 EPS for the current fiscal year.

The Hartford Financial Services Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 2nd. Shareholders of record on Monday, June 3rd will be paid a $0.47 dividend. This represents a $1.88 annualized dividend and a yield of 1.81%. The ex-dividend date of this dividend is Monday, June 3rd. The Hartford Financial Services Group’s payout ratio is currently 21.36%.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. Evercore ISI upped their price objective on The Hartford Financial Services Group from $96.00 to $104.00 and gave the stock an “in-line” rating in a research note on Thursday, April 11th. Keefe, Bruyette & Woods upped their price objective on The Hartford Financial Services Group from $114.00 to $120.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 10th. JPMorgan Chase & Co. increased their price target on The Hartford Financial Services Group from $91.00 to $104.00 and gave the stock a “neutral” rating in a research note on Monday, April 8th. Wells Fargo & Company cut their price target on The Hartford Financial Services Group from $117.00 to $111.00 and set an “overweight” rating for the company in a research note on Monday, April 29th. Finally, Piper Sandler reiterated an “overweight” rating and issued a $115.00 price target on shares of The Hartford Financial Services Group in a research note on Monday, April 1st. Eight investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $106.24.

Insiders Place Their Bets

In other The Hartford Financial Services Group news, EVP Jonathan R. Bennett sold 18,335 shares of the firm’s stock in a transaction dated Thursday, May 9th. The shares were sold at an average price of $100.78, for a total value 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 sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, EVP Jonathan R. Bennett sold 18,335 shares of the stock in a transaction that occurred on Thursday, May 9th. The stock was sold at an average price of $100.78, for a total value of $1,847,801.30. Following the transaction, the executive vice president now owns 25,643 shares of the company’s stock, valued at $2,584,301.54. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Beth Ann Costello sold 72,076 shares of the stock in a transaction that occurred on Wednesday, May 8th. The stock was 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 approximately $6,896,840.99. The disclosure for this sale can be found here. 1.60% of the stock is owned by insiders.

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.