Empirical Financial Services LLC d.b.a. Empirical Wealth Management Grows Position in The Hartford Financial Services Group, Inc. (NYSE:HIG)

Empirical Financial Services LLC d.b.a. Empirical Wealth Management lifted its stake in shares of The Hartford Financial Services Group, Inc. (NYSE:HIG) by 8.3% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 29,570 shares of the insurance provider’s stock after buying an additional 2,254 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management’s holdings in The Hartford Financial Services Group were worth $2,377,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in HIG. GoalVest Advisory LLC boosted its position in The Hartford Financial Services Group by 464.8% in the fourth quarter. GoalVest Advisory LLC now owns 305 shares of the insurance provider’s stock valued at $25,000 after buying an additional 251 shares during the last quarter. Turtle Creek Wealth Advisors LLC purchased a new stake in shares of The Hartford Financial Services Group in the 4th quarter valued at $26,000. CVA Family Office LLC acquired a new stake in shares of The Hartford Financial Services Group in the fourth quarter worth $27,000. Chilton Capital Management LLC purchased a new position in shares of The Hartford Financial Services Group during the fourth quarter worth $28,000. Finally, Selway Asset Management acquired a new position in The Hartford Financial Services Group during the third quarter valued at $29,000. 93.42% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have weighed in on HIG shares. Citigroup lifted their price objective on The Hartford Financial Services Group from $109.00 to $113.00 and gave the company a “buy” rating in a research note on Tuesday, April 16th. Piper Sandler restated an “overweight” rating and issued a $115.00 price objective on shares of The Hartford Financial Services Group in a research report on Monday, April 1st. JPMorgan Chase & Co. raised their price objective on shares of The Hartford Financial Services Group from $91.00 to $104.00 and gave the stock a “neutral” rating in a research note on Monday, April 8th. Raymond James reiterated an “outperform” rating and issued a $120.00 target price (up from $100.00) on shares of The Hartford Financial Services Group in a research note on Monday, April 1st. Finally, Morgan Stanley dropped their price target on shares of The Hartford Financial Services Group from $110.00 to $109.00 and set an “equal weight” rating on the stock in a research report on Friday, April 26th. Seven investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, The Hartford Financial Services Group has an average rating of “Moderate Buy” and an average price target of $105.44.

The Hartford Financial Services Group Price Performance

Shares of NYSE HIG traded up $0.21 during midday trading on Tuesday, hitting $99.34. The stock had a trading volume of 1,051,027 shares, compared to its average volume of 1,788,730. 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 stock has a 50 day simple moving average of $98.96 and a 200-day simple moving average of $87.74. The company has a market capitalization of $29.38 billion, a PE ratio of 11.29, a P/E/G ratio of 1.40 and a beta of 0.90. The Hartford Financial Services Group, Inc. has a 1 year low of $67.42 and a 1 year high of $103.64.

The Hartford Financial Services Group (NYSE:HIG) last announced its quarterly earnings data on Thursday, April 25th. The insurance provider reported $2.34 earnings per share for the quarter, missing analysts’ consensus estimates of $2.43 by ($0.09). The Hartford Financial Services Group had a net margin of 10.87% and a return on equity of 20.64%. The firm had revenue of $6.42 billion during the quarter, compared to analysts’ expectations of $6.51 billion. During the same quarter in the previous year, the business posted $1.68 EPS. The company’s revenue for the quarter was up 8.6% on a year-over-year basis. On average, sell-side analysts expect that The Hartford Financial Services Group, Inc. will post 10.01 EPS for the current fiscal year.

The Hartford Financial Services Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 2nd. Investors of record on Monday, March 4th were given a dividend of $0.47 per share. The ex-dividend date was Friday, March 1st. This represents a $1.88 dividend on an annualized basis and a yield of 1.89%. The Hartford Financial Services Group’s payout ratio is presently 21.36%.

Insider Activity at The Hartford Financial Services Group

In other The Hartford Financial Services Group news, SVP Allison G. Niderno sold 1,516 shares of the firm’s stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $94.55, for a total value of $143,337.80. Following the transaction, the senior vice president now directly owns 630 shares of the company’s stock, valued at approximately $59,566.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, EVP Robert W. Paiano sold 14,528 shares of the company’s stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $93.97, for a total value of $1,365,196.16. Following the completion of the sale, the executive vice president now owns 46,792 shares of the company’s stock, valued at $4,397,044.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Allison G. Niderno sold 1,516 shares of The Hartford Financial Services Group stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $94.55, for a total transaction of $143,337.80. Following the transaction, the senior vice president now directly owns 630 shares in the company, valued at $59,566.50. The disclosure for this sale can be found here. In the last quarter, insiders sold 90,169 shares of company stock valued at $8,676,992. Corporate insiders own 1.60% of the company’s stock.

The Hartford Financial Services Group Company 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.