Alpha Paradigm Partners LLC boosted its holdings in The Hartford Financial Services Group, Inc. (NYSE:HIG – Get Rating) by 365.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 6,185 shares of the insurance provider’s stock after purchasing an additional 4,857 shares during the period. Alpha Paradigm Partners LLC’s holdings in The Hartford Financial Services Group were worth $383,000 at the end of the most recent reporting period.
Several other hedge funds have also added to or reduced their stakes in HIG. Balyasny Asset Management LLC raised its stake in shares of The Hartford Financial Services Group by 637.9% during the third quarter. Balyasny Asset Management LLC now owns 298,639 shares of the insurance provider’s stock valued at $18,497,000 after acquiring an additional 258,169 shares during the last quarter. Fred Alger Management LLC raised its stake in shares of The Hartford Financial Services Group by 9.1% during the third quarter. Fred Alger Management LLC now owns 21,380 shares of the insurance provider’s stock valued at $1,324,000 after acquiring an additional 1,781 shares during the last quarter. Meiji Yasuda Asset Management Co Ltd. raised its stake in shares of The Hartford Financial Services Group by 14.0% during the third quarter. Meiji Yasuda Asset Management Co Ltd. now owns 16,067 shares of the insurance provider’s stock valued at $995,000 after acquiring an additional 1,970 shares during the last quarter. Meiji Yasuda Life Insurance Co raised its stake in shares of The Hartford Financial Services Group by 38.9% during the third quarter. Meiji Yasuda Life Insurance Co now owns 17,656 shares of the insurance provider’s stock valued at $1,094,000 after acquiring an additional 4,946 shares during the last quarter. Finally, SeaCrest Wealth Management LLC raised its stake in shares of The Hartford Financial Services Group by 17.4% during the third quarter. SeaCrest Wealth Management LLC now owns 4,614 shares of the insurance provider’s stock valued at $286,000 after acquiring an additional 683 shares during the last quarter. 89.93% of the stock is owned by institutional investors.
Insiders Place Their Bets
In related news, EVP Amy Stepnowski sold 336 shares of the firm’s stock in a transaction on Monday, March 6th. The shares were sold at an average price of $77.59, for a total transaction of $26,070.24. Following the completion of the transaction, the executive vice president now directly owns 3,844 shares of the company’s stock, valued at $298,255.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CEO Christopher Swift sold 34,624 shares of The Hartford Financial Services Group stock in a transaction dated Tuesday, February 28th. The shares were sold at an average price of $78.32, for a total transaction of $2,711,751.68. Following the completion of the transaction, the chief executive officer now directly owns 197,221 shares of the company’s stock, valued at approximately $15,446,348.72. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Amy Stepnowski sold 336 shares of The Hartford Financial Services Group stock in a transaction dated Monday, March 6th. The stock was sold at an average price of $77.59, for a total transaction of $26,070.24. Following the transaction, the executive vice president now directly owns 3,844 shares of the company’s stock, valued at $298,255.96. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 101,167 shares of company stock worth $7,872,898. Company insiders own 1.80% of the company’s stock.
Wall Street Analysts Forecast Growth
The Hartford Financial Services Group Trading Up 1.8 %
NYSE:HIG opened at $68.23 on Wednesday. The company’s 50 day moving average price is $76.14 and its 200-day moving average price is $72.25. The Hartford Financial Services Group, Inc. has a 52 week low of $60.17 and a 52 week high of $79.44. The company has a quick ratio of 0.32, a current ratio of 0.32 and a debt-to-equity ratio of 0.33. The stock has a market cap of $21.36 billion, a price-to-earnings ratio of 12.52, a PEG ratio of 1.20 and a beta of 0.87.
The Hartford Financial Services Group (NYSE:HIG – Get Rating) last posted its quarterly earnings results on Friday, February 3rd. The insurance provider reported $2.31 EPS for the quarter, beating analysts’ consensus estimates of $1.86 by $0.45. The Hartford Financial Services Group had a net margin of 8.12% and a return on equity of 18.15%. The firm had revenue of $6.02 billion for the quarter, compared to analysts’ expectations of $5.74 billion. During the same quarter in the prior year, the company posted $2.02 earnings per share. The business’s revenue for the quarter was up 3.4% on a year-over-year basis. On average, equities research analysts forecast that The Hartford Financial Services Group, Inc. will post 8.37 earnings per share for the current fiscal year.
The Hartford Financial Services Group Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 4th. Shareholders of record on Monday, March 6th will be given a $0.425 dividend. The ex-dividend date is Friday, March 3rd. This represents a $1.70 annualized dividend and a yield of 2.49%. The Hartford Financial Services Group’s payout ratio is presently 31.19%.
The Hartford Financial Services Group Profile
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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