United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund Invests $799,000 in The Hartford Financial Services Group, Inc. (NYSE:HIG)

United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund bought a new position in The Hartford Financial Services Group, Inc. (NYSE:HIG) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 7,300 shares of the insurance provider’s stock, valued at approximately $799,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. AustralianSuper Pty Ltd increased its holdings in shares of The Hartford Financial Services Group by 265.5% in the fourth quarter. AustralianSuper Pty Ltd now owns 1,213,074 shares of the insurance provider’s stock valued at $132,710,000 after buying an additional 881,224 shares in the last quarter. Assenagon Asset Management S.A. grew its holdings in shares of The Hartford Financial Services Group by 437.9% in the 4th quarter. Assenagon Asset Management S.A. now owns 871,318 shares of the insurance provider’s stock worth $95,322,000 after acquiring an additional 709,324 shares during the last quarter. Proficio Capital Partners LLC raised its position in shares of The Hartford Financial Services Group by 11,904.7% during the fourth quarter. Proficio Capital Partners LLC now owns 631,565 shares of the insurance provider’s stock worth $632,000 after purchasing an additional 626,304 shares during the period. Raymond James Financial Inc. purchased a new stake in shares of The Hartford Financial Services Group during the fourth quarter valued at $65,256,000. Finally, Nordea Investment Management AB boosted its position in shares of The Hartford Financial Services Group by 17.3% in the 4th quarter. Nordea Investment Management AB now owns 3,938,421 shares of the insurance provider’s stock valued at $430,272,000 after purchasing an additional 581,103 shares during the period. 93.42% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

HIG has been the topic of several recent analyst reports. Keefe, Bruyette & Woods boosted their price objective on The Hartford Financial Services Group from $139.00 to $140.00 and gave the stock an “outperform” rating in a report on Wednesday, February 5th. Royal Bank of Canada restated a “sector perform” rating and issued a $125.00 price target on shares of The Hartford Financial Services Group in a research report on Monday, February 3rd. Piper Sandler lifted their price objective on shares of The Hartford Financial Services Group from $127.00 to $130.00 and gave the stock an “overweight” rating in a research report on Monday, February 3rd. StockNews.com lowered The Hartford Financial Services Group from a “buy” rating to a “hold” rating in a report on Tuesday, March 18th. Finally, BMO Capital Markets lifted their price target on The Hartford Financial Services Group from $100.00 to $141.00 and gave the company a “market perform” rating in a report on Wednesday, November 27th. Ten research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, The Hartford Financial Services Group currently has an average rating of “Moderate Buy” and a consensus target price of $122.94.

Insider Buying and Selling at The Hartford Financial Services Group

In related news, EVP Robert W. Paiano sold 13,138 shares of the business’s stock in a transaction dated Tuesday, March 11th. The stock was sold at an average price of $117.20, for a total transaction of $1,539,773.60. Following the completion of the transaction, the executive vice president now owns 31,678 shares of the company’s stock, valued at approximately $3,712,661.60. The trade was a 29.32 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Christopher Swift sold 98,061 shares of the stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $120.39, for a total value of $11,805,563.79. Following the sale, the chief executive officer now owns 211,082 shares of the company’s stock, valued at approximately $25,412,161.98. The trade was a 31.72 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.60% of the company’s stock.

The Hartford Financial Services Group Stock Performance

Shares of NYSE HIG opened at $121.46 on Wednesday. The business’s 50-day simple moving average is $114.87 and its 200-day simple moving average is $115.12. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.32 and a current ratio of 0.32. The Hartford Financial Services Group, Inc. has a 52 week low of $94.47 and a 52 week high of $124.90. The firm has a market cap of $34.66 billion, a price-to-earnings ratio of 11.74, a P/E/G ratio of 1.12 and a beta of 0.91.

The Hartford Financial Services Group (NYSE:HIG) last announced its quarterly earnings results on Thursday, January 30th. The insurance provider reported $2.94 EPS for the quarter, beating the consensus estimate of $2.68 by $0.26. The Hartford Financial Services Group had a return on equity of 19.55% and a net margin of 11.72%. As a group, equities research analysts expect that The Hartford Financial Services Group, Inc. will post 11.11 earnings per share for the current fiscal year.

The Hartford Financial Services Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 2nd. Shareholders of record on Monday, March 3rd will be given a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 1.71%. The ex-dividend date of this dividend is Monday, March 3rd. The Hartford Financial Services Group’s dividend payout ratio is 20.10%.

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.