Los Angeles Capital Management LLC Raises Stock Position in The Hartford Financial Services Group, Inc. (NYSE:HIG)

Los Angeles Capital Management LLC increased its position in shares of The Hartford Financial Services Group, Inc. (NYSE:HIG) by 36.3% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 22,187 shares of the insurance provider’s stock after purchasing an additional 5,913 shares during the period. Los Angeles Capital Management LLC’s holdings in The Hartford Financial Services Group were worth $2,286,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. GoalVest Advisory LLC boosted its stake in shares of The Hartford Financial Services Group by 464.8% during the 4th quarter. GoalVest Advisory LLC now owns 305 shares of the insurance provider’s stock worth $25,000 after purchasing an additional 251 shares during the period. Turtle Creek Wealth Advisors LLC purchased a new position in shares of The Hartford Financial Services Group during the 4th quarter worth about $26,000. CVA Family Office LLC purchased a new position in shares of The Hartford Financial Services Group during the 4th quarter worth about $27,000. Chilton Capital Management LLC purchased a new position in shares of The Hartford Financial Services Group during the 4th quarter worth about $28,000. Finally, Cape Investment Advisory Inc. boosted its stake in shares of The Hartford Financial Services Group by 189.9% during the 4th quarter. Cape Investment Advisory Inc. now owns 374 shares of the insurance provider’s stock worth $30,000 after purchasing an additional 245 shares during the period. 93.42% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on HIG shares. Raymond James reaffirmed an “outperform” rating and set a $120.00 price target (up from $100.00) on shares of The Hartford Financial Services Group in a research note on Monday, April 1st. Evercore ISI lifted their price objective on shares of The Hartford Financial Services Group from $96.00 to $104.00 and gave the company an “in-line” rating in a report on Thursday, April 11th. Piper Sandler reiterated an “overweight” rating and set a $115.00 price objective on shares of The Hartford Financial Services Group in a report on Monday, April 1st. The Goldman Sachs Group lifted their price objective on shares of The Hartford Financial Services Group from $105.00 to $111.00 and gave the company a “buy” rating in a report on Thursday, June 13th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of The Hartford Financial Services Group from $91.00 to $104.00 and gave the company a “neutral” rating in a report on Monday, April 8th. Eight equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, The Hartford Financial Services Group currently has an average rating of “Moderate Buy” and an average price target of $106.24.

Insider Transactions at The Hartford Financial Services Group

In other news, CFO Beth Ann Costello sold 72,076 shares of The Hartford Financial Services Group stock in a transaction that occurred on Wednesday, May 8th. The shares were sold at an average price of $99.71, for a total value of $7,186,697.96. Following the transaction, the chief financial officer now owns 69,169 shares of the company’s stock, valued at approximately $6,896,840.99. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other The Hartford Financial Services Group news, CFO Beth Ann Costello sold 72,076 shares of the business’s stock in a transaction that occurred on Wednesday, May 8th. The shares were sold at an average price of $99.71, for a total transaction of $7,186,697.96. Following the sale, the chief financial officer now owns 69,169 shares of the company’s stock, valued at approximately $6,896,840.99. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Jonathan R. Bennett sold 18,335 shares of the business’s stock in a transaction that occurred on Thursday, May 9th. The stock was sold at an average price of $100.78, for a total transaction of $1,847,801.30. Following the sale, the executive vice president now directly owns 25,643 shares in the company, valued at approximately $2,584,301.54. The disclosure for this sale can be found here. Insiders own 1.60% of the company’s stock.

The Hartford Financial Services Group Stock Down 0.7 %

Shares of The Hartford Financial Services Group stock opened at $102.94 on Friday. The firm’s 50 day moving average price is $100.12 and its 200-day moving average price is $93.59. The company has a quick ratio of 0.31, a current ratio of 0.31 and a debt-to-equity ratio of 0.29. The Hartford Financial Services Group, Inc. has a 52-week low of $68.82 and a 52-week high of $103.96. The company has a market cap of $30.45 billion, a P/E ratio of 11.70, a PEG ratio of 0.84 and a beta of 0.93.

The Hartford Financial Services Group (NYSE:HIG) last issued its quarterly earnings data on Thursday, April 25th. The insurance provider reported $2.34 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.43 by ($0.09). The Hartford Financial Services Group had a return on equity of 20.64% and a net margin of 10.87%. The firm had revenue of $6.42 billion during the quarter, compared to analysts’ expectations of $6.51 billion. During the same period in the previous year, the firm earned $1.68 EPS. The firm’s quarterly revenue was up 8.6% on a year-over-year basis. On average, sell-side analysts predict that The Hartford Financial Services Group, Inc. will post 9.94 EPS for the current fiscal year.

The Hartford Financial Services Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 2nd. Stockholders of record on Monday, June 3rd will be given a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a dividend yield of 1.83%. The ex-dividend date of this dividend is Monday, June 3rd. The Hartford Financial Services Group’s payout ratio is currently 21.36%.

About The Hartford Financial Services Group

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.