Moody National Bank Trust Division Purchases Shares of 3,129 The Hartford Financial Services Group, Inc. (NYSE:HIG)

Posted by Defense World Staff on Mar 21st, 2023

Moody National Bank Trust Division purchased a new stake in shares of The Hartford Financial Services Group, Inc. (NYSE:HIG – Get Rating) during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 3,129 shares of the insurance provider’s stock, valued at approximately $237,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Gradient Investments LLC bought a new stake in The Hartford Financial Services Group during the third quarter valued at about $27,000. Janiczek Wealth Management LLC raised 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 acquiring an additional 163 shares during the period. Accurate Wealth Management LLC purchased a new position in shares of The Hartford Financial Services Group during the fourth quarter valued at about $54,000. Larson Financial Group LLC purchased a new position in shares of The Hartford Financial Services Group during the third quarter valued at about $50,000. Finally, Covestor Ltd grew its position in shares of The Hartford Financial Services Group by 130.8% during the first quarter. Covestor Ltd now owns 907 shares of the insurance provider’s stock valued at $65,000 after purchasing an additional 514 shares in the last quarter. 89.93% of the stock is owned by institutional investors.

The Hartford Financial Services Group Trading Up 2.0 %

HIG opened at $67.04 on Tuesday. The Hartford Financial Services Group, Inc. has a 12 month low of $60.17 and a 12 month high of $79.44. The stock has a 50-day moving average of $75.28 and a 200 day moving average of $72.29. The firm has a market cap of $20.99 billion, a P/E ratio of 12.30, a P/E/G ratio of 1.12 and a beta of 0.87. The company has a current ratio of 0.32, a quick ratio of 0.32 and a debt-to-equity ratio of 0.33.

The Hartford Financial Services Group (NYSE:HIG – Get Rating) last announced its earnings results on Friday, February 3rd. The insurance provider reported $2.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.86 by $0.45. The Hartford Financial Services Group had a return on equity of 18.15% and a net margin of 8.12%. The business had revenue of $6.02 billion during the quarter, compared to analyst estimates of $5.74 billion. During the same quarter in the previous year, the business earned $2.02 earnings per share. The company’s revenue for the quarter was up 3.4% compared to the same quarter last year. As a group, research analysts forecast that The Hartford Financial Services Group, Inc. will post 8.35 EPS for the current year.

The Hartford Financial Services Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 4th. Shareholders of record on Monday, March 6th will be given a dividend of $0.425 per share. The ex-dividend date of this dividend is Friday, March 3rd. This represents a $1.70 annualized dividend and a dividend yield of 2.54%. The Hartford Financial Services Group’s dividend payout ratio (DPR) is presently 31.19%.

Insider Buying and Selling at The Hartford Financial Services Group

In other The Hartford Financial Services Group news, EVP Michael R. Fisher sold 4,916 shares of the business’s stock in a transaction that occurred on Tuesday, January 3rd. The stock was sold at an average price of $75.69, for a total transaction of $372,092.04. Following the completion of the transaction, the executive vice president now owns 5,287 shares in the company, valued at $400,173.03. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, EVP Michael R. Fisher sold 4,916 shares of The Hartford Financial Services Group stock in a transaction that occurred on Tuesday, January 3rd. The shares were sold at an average price of $75.69, for a total transaction of $372,092.04. Following the completion of the sale, the executive vice president now owns 5,287 shares of the company’s stock, valued at $400,173.03. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Adin M. Tooker sold 3,920 shares of The Hartford Financial Services Group stock in a transaction that occurred on Thursday, February 23rd. The shares were sold at an average price of $77.41, for a total transaction of $303,447.20. Following the sale, the executive vice president now directly owns 25,820 shares of the company’s stock, valued at approximately $1,998,726.20. The disclosure for this sale can be found here. Insiders sold 101,167 shares of company stock worth $7,872,898 over the last 90 days. Company insiders own 1.80% of the company’s stock.

Analyst Ratings Changes

HIG has been the subject of a number of research analyst reports. Roth Capital restated a “neutral” rating on shares of The Hartford Financial Services Group in a research report on Friday, February 3rd. Wells Fargo & Company raised their price objective on The Hartford Financial Services Group from $85.00 to $88.00 and gave the company an “overweight” rating in a research report on Wednesday, January 18th. BMO Capital Markets initiated coverage on The Hartford Financial Services Group in a research report on Thursday, January 19th. They set a “market perform” rating and a $77.00 price objective for the company. Royal Bank of Canada raised their price objective on The Hartford Financial Services Group from $75.00 to $77.00 and gave the company a “sector perform” rating in a research report on Monday, February 6th. Finally, Morgan Stanley raised their price objective on The Hartford Financial Services Group from $76.00 to $80.00 and gave the company an “equal weight” rating in a research report on Tuesday, November 22nd. Six research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $86.00.

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.

Institutional Ownership by Quarter for The Hartford Financial Services Group (NYSE:HIG)

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