Accurate Wealth Management LLC Boosts Holdings in The Hartford Financial Services Group, Inc. (NYSE:HIG)

Accurate Wealth Management LLC grew its stake in shares of The Hartford Financial Services Group, Inc. (NYSE:HIG) by 27.4% during the first quarter, HoldingsChannel reports. The firm owned 5,554 shares of the insurance provider’s stock after purchasing an additional 1,193 shares during the quarter. Accurate Wealth Management LLC’s holdings in The Hartford Financial Services Group were worth $644,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Norges Bank purchased a new stake in The Hartford Financial Services Group in the fourth quarter worth $416,340,000. GAMMA Investing LLC lifted its position in The Hartford Financial Services Group by 14,049.5% during the first quarter. GAMMA Investing LLC now owns 1,424,009 shares of the insurance provider’s stock valued at $1,761,930,000 after buying an additional 1,413,945 shares during the period. AustralianSuper Pty Ltd boosted its holdings in shares of The Hartford Financial Services Group by 265.5% during the 4th 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. Ameriprise Financial Inc. boosted its holdings in shares of The Hartford Financial Services Group by 48.1% during the 4th quarter. Ameriprise Financial Inc. now owns 2,264,397 shares of the insurance provider’s stock valued at $247,761,000 after buying an additional 735,170 shares in the last quarter. Finally, Proficio Capital Partners LLC grew its position in shares of The Hartford Financial Services Group by 11,904.7% in the 4th quarter. Proficio Capital Partners LLC now owns 631,565 shares of the insurance provider’s stock worth $632,000 after buying an additional 626,304 shares during the period. Hedge funds and other institutional investors own 93.42% of the company’s stock.

The Hartford Financial Services Group Trading Down 1.6%

Shares of HIG stock opened at $124.82 on Wednesday. The company has a current ratio of 0.32, a quick ratio of 0.32 and a debt-to-equity ratio of 0.27. The Hartford Financial Services Group, Inc. has a 12-month low of $98.16 and a 12-month high of $132.09. The stock has a market capitalization of $35.46 billion, a P/E ratio of 12.06, a P/E/G ratio of 1.12 and a beta of 0.71. The firm’s 50 day moving average is $123.47 and its 200 day moving average is $117.82.

The Hartford Financial Services Group (NYSE:HIG) last released its quarterly earnings results on Thursday, April 24th. The insurance provider reported $2.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.15 by $0.05. The Hartford Financial Services Group had a return on equity of 19.55% and a net margin of 11.72%. The firm had revenue of $6.81 billion for the quarter, compared to the consensus estimate of $6.97 billion. During the same period last year, the business posted $2.34 EPS. The company’s revenue for the quarter was up 6.1% on a year-over-year basis. Research analysts expect that The Hartford Financial Services Group, Inc. will post 11.11 earnings per share for the current year.

The Hartford Financial Services Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 2nd. Shareholders of record on Monday, June 2nd will be paid a dividend of $0.52 per share. The ex-dividend date is Monday, June 2nd. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.67%. The Hartford Financial Services Group’s dividend payout ratio is currently 20.74%.

Insider Activity

In related news, SVP Allison G. Niderno sold 1,086 shares of The Hartford Financial Services Group stock in a transaction on Monday, April 28th. The stock was sold at an average price of $119.42, for a total transaction of $129,690.12. Following the transaction, the senior vice president now directly owns 622 shares in the company, valued at approximately $74,279.24. The trade was a 63.58% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Christopher Swift sold 1,144 shares of the business’s stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $125.00, for a total value of $143,000.00. Following the sale, the chief executive officer now directly owns 211,082 shares of the company’s stock, valued at $26,385,250. This represents a 0.54% decrease in their position. The disclosure for this sale can be found here. Insiders sold 100,291 shares of company stock valued at $12,078,254 in the last quarter. 1.50% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

HIG has been the subject of several research reports. Keefe, Bruyette & Woods decreased their price target on shares of The Hartford Financial Services Group from $140.00 to $133.00 and set an “outperform” rating for the company in a research note on Wednesday, April 9th. Wells Fargo & Company cut their price objective on shares of The Hartford Financial Services Group from $126.00 to $125.00 and set an “overweight” rating on the stock in a report on Thursday, April 10th. Piper Sandler lifted their target price on shares of The Hartford Financial Services Group from $130.00 to $145.00 and gave the company an “overweight” rating in a report on Tuesday, April 1st. Wall Street Zen raised The Hartford Financial Services Group from a “hold” rating to a “buy” rating in a research report on Tuesday, May 20th. Finally, Jefferies Financial Group cut their price target on The Hartford Financial Services Group from $118.00 to $117.00 and set a “hold” rating on the stock in a research note on Friday, April 11th. Seven 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’s stock. Based on data from MarketBeat, The Hartford Financial Services Group currently has an average rating of “Moderate Buy” and a consensus price target of $129.71.

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.