ExodusPoint Capital Management LP cut its stake in shares of The Hartford Financial Services Group, Inc. (NYSE:HIG – Free Report) by 80.3% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 18,276 shares of the insurance provider’s stock after selling 74,519 shares during the period. ExodusPoint Capital Management LP’s holdings in The Hartford Financial Services Group were worth $1,274,000 as of its most recent filing with the SEC.
Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Penserra Capital Management LLC raised its stake in The Hartford Financial Services Group by 8.4% in the fourth quarter. Penserra Capital Management LLC now owns 1,715 shares of the insurance provider’s stock valued at $129,000 after buying an additional 133 shares during the period. ETF Managers Group LLC raised its stake in The Hartford Financial Services Group by 1.5% in the first quarter. ETF Managers Group LLC now owns 10,170 shares of the insurance provider’s stock valued at $709,000 after buying an additional 151 shares during the period. Measured Wealth Private Client Group LLC raised its stake in The Hartford Financial Services Group by 3.3% in the first quarter. Measured Wealth Private Client Group LLC now owns 4,845 shares of the insurance provider’s stock valued at $338,000 after buying an additional 155 shares during the period. Toroso Investments LLC raised its stake in The Hartford Financial Services Group by 3.8% in the first quarter. Toroso Investments LLC now owns 4,293 shares of the insurance provider’s stock valued at $308,000 after buying an additional 159 shares during the period. Finally, Spire Wealth Management increased its stake in shares of The Hartford Financial Services Group by 8.5% during the first quarter. Spire Wealth Management now owns 2,049 shares of the insurance provider’s stock worth $143,000 after purchasing an additional 161 shares during the period. Institutional investors own 90.81% of the company’s stock.
The Hartford Financial Services Group Trading Up 0.8 %
Shares of HIG stock opened at $72.43 on Monday. The stock’s fifty day moving average price is $72.48 and its two-hundred day moving average price is $71.46. The company has a market cap of $22.15 billion, a PE ratio of 11.64, a P/E/G ratio of 1.33 and a beta of 0.86. The Hartford Financial Services Group, Inc. has a fifty-two week low of $60.17 and a fifty-two week high of $79.44. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.31 and a current ratio of 0.31.
The Hartford Financial Services Group Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 3rd. Investors of record on Friday, September 1st will be issued a dividend of $0.425 per share. This represents a $1.70 annualized dividend and a dividend yield of 2.35%. The ex-dividend date is Thursday, August 31st. The Hartford Financial Services Group’s dividend payout ratio (DPR) is 27.33%.
Insider Activity at The Hartford Financial Services Group
In related news, EVP Stephanie C. Bush sold 3,500 shares of the firm’s stock in a transaction on Wednesday, August 2nd. The stock was sold at an average price of $72.40, for a total transaction of $253,400.00. Following the sale, the executive vice president now owns 15,063 shares of the company’s stock, valued at approximately $1,090,561.20. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders have sold a total of 4,172 shares of company stock valued at $302,012 in the last 90 days. 2.00% of the stock is owned by corporate insiders.
Wall Street Analyst Weigh In
HIG has been the topic of a number of recent research reports. Morgan Stanley initiated 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 target price on the stock. StockNews.com initiated coverage on The Hartford Financial Services Group in a research note on Thursday, August 17th. They set a “buy” rating on the stock. Citigroup lowered their target price on The Hartford Financial Services Group from $87.00 to $85.00 and set a “buy” rating on the stock in a research note on Wednesday, August 9th. JPMorgan Chase & Co. increased their target price on The Hartford Financial Services Group from $86.00 to $94.00 in a research note on Thursday, July 6th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and set a $77.00 target price on shares of The Hartford Financial Services Group in a research note on Monday, July 31st. Five equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $85.46.
View Our Latest Analysis on HIG
The Hartford Financial Services Group 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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