Ridgewood Investments LLC acquired a new position in The Hartford Financial Services Group, Inc. (NYSE:HIG – Free Report) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 1,197 shares of the insurance provider’s stock, valued at approximately $83,000.
Several other large investors have also modified their holdings of HIG. Mitsubishi UFJ Trust & Banking Corp boosted its holdings in The Hartford Financial Services Group by 10.9% during the fourth quarter. Mitsubishi UFJ Trust & Banking Corp now owns 364,283 shares of the insurance provider’s stock valued at $27,624,000 after acquiring an additional 35,693 shares during the period. NorthCrest Asset Manangement LLC grew its holdings in The Hartford Financial Services Group by 29.7% in the 4th quarter. NorthCrest Asset Manangement LLC now owns 13,086 shares of the insurance provider’s stock valued at $992,000 after buying an additional 3,000 shares during the last quarter. ING Groep NV increased its position in The Hartford Financial Services Group by 64.1% in the 4th quarter. ING Groep NV now owns 83,085 shares of the insurance provider’s stock worth $6,300,000 after buying an additional 32,439 shares during the period. Amalgamated Bank lifted its holdings in shares of The Hartford Financial Services Group by 15.9% during the fourth quarter. Amalgamated Bank now owns 97,153 shares of the insurance provider’s stock worth $7,367,000 after buying an additional 13,347 shares during the last quarter. Finally, Resources Investment Advisors LLC. boosted its position in shares of The Hartford Financial Services Group by 40.6% in the fourth quarter. Resources Investment Advisors LLC. now owns 11,580 shares of the insurance provider’s stock valued at $878,000 after acquiring an additional 3,343 shares during the period. 90.24% of the stock is owned by institutional investors.
Analysts Set New Price Targets
A number of brokerages recently issued reports on HIG. JPMorgan Chase & Co. boosted their target price on shares of The Hartford Financial Services Group from $86.00 to $94.00 in a research report on Thursday. 888 restated a “reiterates” rating on shares of The Hartford Financial Services Group in a report on Monday, May 1st. Evercore ISI reduced their target price on shares of The Hartford Financial Services Group from $85.00 to $80.00 and set an “in-line” rating for the company in a research note on Thursday, April 13th. Morgan Stanley started coverage on The Hartford Financial Services Group in a research note on Tuesday, June 20th. They set an “equal weight” rating and a $71.00 price target on the stock. Finally, Wells Fargo & Company upped their price target on The Hartford Financial Services Group from $90.00 to $91.00 and gave the company an “overweight” rating in a report on Wednesday, April 5th. Six equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $85.46.
The Hartford Financial Services Group Stock Up 0.5 %
The Hartford Financial Services Group (NYSE:HIG – Free Report) last posted its quarterly earnings data on Thursday, April 27th. The insurance provider reported $1.68 earnings per share for the quarter, hitting the consensus estimate of $1.68. The company had revenue of $5.91 billion during the quarter, compared to analyst estimates of $5.70 billion. The Hartford Financial Services Group had a net margin of 8.33% and a return on equity of 18.45%. The company’s revenue was up 9.6% on a year-over-year basis. During the same quarter last year, the business posted $1.66 earnings per share. Equities research analysts predict that The Hartford Financial Services Group, Inc. will post 7.84 earnings per share for the current fiscal year.
The Hartford Financial Services Group Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 5th. Shareholders of record on Thursday, June 1st were paid a $0.425 dividend. This represents a $1.70 dividend on an annualized basis and a yield of 2.34%. The ex-dividend date of this dividend was Wednesday, May 31st. The Hartford Financial Services Group’s dividend payout ratio is currently 29.26%.
About The Hartford Financial Services Group
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.
Recommended Stories
- Five stocks we like better than The Hartford Financial Services Group
- Enphase Energy is Still Converting Solar Energy into Profits
- Gorilla Technology Skyrockets 124% On Smart Government Contract
- Why Buying The Dip In Alphabet (Google) Could Yield Big Returns
- EV Mixed Signals: Sales Are Rising, But Inventory Slower To Move
- MarketBeat Week in Review – 7/3 – 7/7
Receive News & Ratings for The Hartford Financial Services Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for The Hartford Financial Services Group and related companies with MarketBeat.com's FREE daily email newsletter.
