ETF Managers Group LLC boosted its stake in shares of The Hartford Financial Services Group, Inc. (NYSE:HIG – Free Report) by 1.5% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 10,170 shares of the insurance provider’s stock after buying an additional 151 shares during the period. ETF Managers Group LLC’s holdings in The Hartford Financial Services Group were worth $709,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. GPS Wealth Strategies Group LLC acquired a new position in The Hartford Financial Services Group during the first quarter worth $64,000. Clarius Group LLC boosted its stake in The Hartford Financial Services Group by 30.7% during the first quarter. Clarius Group LLC now owns 3,677 shares of the insurance provider’s stock worth $256,000 after buying an additional 864 shares during the last quarter. Ronald Blue Trust Inc. boosted its stake in The Hartford Financial Services Group by 20.0% during the first quarter. Ronald Blue Trust Inc. now owns 4,084 shares of the insurance provider’s stock worth $309,000 after buying an additional 681 shares during the last quarter. Aprio Wealth Management LLC boosted its stake in The Hartford Financial Services Group by 5.6% during the first quarter. Aprio Wealth Management LLC now owns 3,728 shares of the insurance provider’s stock worth $260,000 after buying an additional 198 shares during the last quarter. Finally, Hunter Perkins Capital Management LLC boosted its stake in The Hartford Financial Services Group by 27.7% during the first quarter. Hunter Perkins Capital Management LLC now owns 86,975 shares of the insurance provider’s stock worth $6,083,000 after buying an additional 18,875 shares during the last quarter. Institutional investors and hedge funds own 90.24% of the company’s stock.
Analyst Upgrades and Downgrades
A number of equities research analysts have commented on HIG shares. Citigroup reduced their target price on The Hartford Financial Services Group from $92.00 to $85.00 in a research report on Tuesday, April 18th. Evercore ISI reduced their target price on The Hartford Financial Services Group from $85.00 to $80.00 and set an “in-line” rating on the stock in a research report on Thursday, April 13th. StockNews.com started coverage on The Hartford Financial Services Group in a research report on Thursday, May 18th. They issued a “buy” rating on the stock. Piper Sandler lifted their target price on The Hartford Financial Services Group from $100.00 to $101.00 in a research report on Monday, May 1st. Finally, Morgan Stanley started coverage on The Hartford Financial Services Group in a research report on Tuesday, June 20th. They issued an “equal weight” rating and a $71.00 target price on the stock. Six equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, The Hartford Financial Services Group presently has an average rating of “Moderate Buy” and a consensus price target of $85.46.
The Hartford Financial Services Group Price Performance
The Hartford Financial Services Group (NYSE:HIG – Free Report) last issued its quarterly earnings results on Thursday, April 27th. The insurance provider reported $1.68 earnings per share for the quarter, hitting the consensus estimate of $1.68. The Hartford Financial Services Group had a return on equity of 18.45% and a net margin of 8.33%. The company had revenue of $5.91 billion for the quarter, compared to the consensus estimate of $5.70 billion. During the same quarter in the prior year, the business earned $1.66 EPS. The Hartford Financial Services Group’s revenue was up 9.6% on a year-over-year basis. Analysts forecast that The Hartford Financial Services Group, Inc. will post 7.9 EPS for the current fiscal year.
The Hartford Financial Services Group Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 5th. Stockholders of record on Thursday, June 1st will be given a dividend of $0.425 per share. The ex-dividend date is Wednesday, May 31st. This represents a $1.70 annualized dividend and a dividend yield of 2.38%. The Hartford Financial Services Group’s dividend payout ratio is currently 29.26%.
The Hartford Financial Services Group Company Profile
The Hartford Financial Services Group, Inc 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, and reinsurance through regional offices, branches, sales and policyholder service centers, independent retail agents and brokers, wholesale agents, and reinsurance brokers.
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