GAMMA Investing LLC Makes New Investment in The Hartford Financial Services Group, Inc. (NYSE:HIG)

GAMMA Investing LLC acquired a new position in shares of The Hartford Financial Services Group, Inc. (NYSE:HIG) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 5,491 shares of the insurance provider’s stock, valued at approximately $477,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. CWM LLC grew its holdings in shares of The Hartford Financial Services Group by 7.5% during the 3rd quarter. CWM LLC now owns 9,149 shares of the insurance provider’s stock valued at $649,000 after acquiring an additional 639 shares in the last quarter. AE Wealth Management LLC boosted its holdings in The Hartford Financial Services Group by 113.2% in the third quarter. AE Wealth Management LLC now owns 6,826 shares of the insurance provider’s stock worth $484,000 after purchasing an additional 3,625 shares in the last quarter. Global Retirement Partners LLC boosted its holdings in The Hartford Financial Services Group by 39.5% in the third quarter. Global Retirement Partners LLC now owns 1,589 shares of the insurance provider’s stock worth $112,000 after purchasing an additional 450 shares in the last quarter. HB Wealth Management LLC bought a new stake in The Hartford Financial Services Group in the third quarter worth $235,000. Finally, GHP Investment Advisors Inc. boosted its holdings in The Hartford Financial Services Group by 4.3% in the third quarter. GHP Investment Advisors Inc. now owns 37,667 shares of the insurance provider’s stock worth $2,673,000 after purchasing an additional 1,548 shares in the last quarter. 93.42% of the stock is currently owned by hedge funds and other institutional investors.

The Hartford Financial Services Group Stock Performance

Shares of HIG traded down $0.06 during trading hours on Wednesday, reaching $99.97. 791,811 shares of the company traded hands, compared to its average volume of 1,782,862. The stock’s fifty day moving average is $98.16 and its 200 day moving average is $85.88. The stock has a market cap of $29.72 billion, a P/E ratio of 12.52, a price-to-earnings-growth ratio of 1.41 and a beta of 0.89. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.32 and a current ratio of 0.32. The Hartford Financial Services Group, Inc. has a 1-year low of $67.05 and a 1-year high of $103.64.

The Hartford Financial Services Group (NYSE:HIG) last announced its quarterly earnings data on Friday, February 2nd. The insurance provider reported $3.06 EPS for the quarter, beating analysts’ consensus estimates of $2.44 by $0.62. The business had revenue of $6.40 billion during the quarter, compared to analyst estimates of $5.84 billion. The Hartford Financial Services Group had a net margin of 10.21% and a return on equity of 19.82%. The firm’s revenue for the quarter was up 6.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.31 earnings per share. Equities research analysts anticipate that The Hartford Financial Services Group, Inc. will post 10.13 earnings per share for the current fiscal year.

The Hartford Financial Services Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 2nd. Investors of record on Monday, March 4th were paid a $0.47 dividend. The ex-dividend date was Friday, March 1st. This represents a $1.88 dividend on an annualized basis and a yield of 1.88%. The Hartford Financial Services Group’s payout ratio is currently 23.53%.

Analysts Set New Price Targets

A number of brokerages recently issued reports on HIG. TD Cowen upped their price objective on shares of The Hartford Financial Services Group to $144.00 and gave the stock a “buy” rating in a report on Wednesday, April 3rd. Raymond James reiterated an “outperform” rating and issued a $120.00 price objective (up from $100.00) on shares of The Hartford Financial Services Group in a report on Monday, April 1st. Evercore ISI upped their price objective on shares of The Hartford Financial Services Group from $96.00 to $104.00 and gave the stock an “in-line” rating in a report on Thursday, April 11th. Roth Mkm upped their price objective on shares of The Hartford Financial Services Group from $80.00 to $90.00 and gave the stock a “neutral” rating in a report on Friday, February 2nd. Finally, Wells Fargo & Company boosted their target price on shares of The Hartford Financial Services Group from $106.00 to $117.00 and gave the stock an “overweight” rating in a research report on Thursday, April 11th. Seven investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $105.56.

Insider Activity at The Hartford Financial Services Group

In related news, EVP Michael R. Fisher sold 27,004 shares of the company’s stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $98.90, for a total value of $2,670,695.60. Following the sale, the executive vice president now owns 18,906 shares of the company’s stock, valued at $1,869,803.40. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other The Hartford Financial Services Group news, SVP Allison G. Niderno sold 1,332 shares of the company’s stock in a transaction dated Tuesday, February 6th. The shares were sold at an average price of $89.74, for a total transaction of $119,533.68. Following the sale, the senior vice president now directly owns 630 shares of the company’s stock, valued at $56,536.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Michael R. Fisher sold 27,004 shares of the company’s stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $98.90, for a total transaction of $2,670,695.60. Following the sale, the executive vice president now directly owns 18,906 shares in the company, valued at $1,869,803.40. The disclosure for this sale can be found here. Insiders have sold a total of 106,501 shares of company stock valued at $10,141,126 over the last quarter. 1.60% of the stock is owned by company insiders.

The Hartford Financial Services Group Profile

The Hartford Financial Services Group, Inc, together with its subsidiaries, 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, accident, health, and reinsurance through regional offices, branches, sales and policyholder service centers, independent retail agents and brokers, wholesale agents, and reinsurance brokers.