Nomura Asset Management Co. Ltd. Acquires 34,957 Shares of The Hartford Financial Services Group, Inc. (NYSE:HIG)

Nomura Asset Management Co. Ltd. increased its holdings in The Hartford Financial Services Group, Inc. (NYSE:HIG) by 39.7% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 123,041 shares of the insurance provider’s stock after buying an additional 34,957 shares during the period. Nomura Asset Management Co. Ltd.’s holdings in The Hartford Financial Services Group were worth $13,461,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Thurston Springer Miller Herd & Titak Inc. grew its position in shares of The Hartford Financial Services Group by 3,342.9% in the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 241 shares of the insurance provider’s stock valued at $26,000 after purchasing an additional 234 shares in the last quarter. Barrett & Company Inc. grew its holdings in The Hartford Financial Services Group by 46.5% during the 4th quarter. Barrett & Company Inc. now owns 293 shares of the insurance provider’s stock valued at $32,000 after buying an additional 93 shares in the last quarter. DT Investment Partners LLC increased its position in shares of The Hartford Financial Services Group by 49.8% during the fourth quarter. DT Investment Partners LLC now owns 331 shares of the insurance provider’s stock valued at $36,000 after buying an additional 110 shares during the period. Flagship Wealth Advisors LLC purchased a new stake in shares of The Hartford Financial Services Group in the fourth quarter worth about $36,000. Finally, Key Financial Inc boosted its position in shares of The Hartford Financial Services Group by 526.3% in the fourth quarter. Key Financial Inc now owns 357 shares of the insurance provider’s stock valued at $39,000 after acquiring an additional 300 shares during the period. 93.42% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at The Hartford Financial Services Group

In other news, CEO Christopher Swift sold 98,061 shares of the company’s stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $120.39, for a total transaction of $11,805,563.79. Following the completion of the transaction, the chief executive officer now directly owns 211,082 shares of the company’s stock, valued at approximately $25,412,161.98. This represents a 31.72 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Robert W. Paiano sold 13,138 shares of the firm’s stock in a transaction dated Tuesday, March 11th. The stock was sold at an average price of $117.20, for a total value of $1,539,773.60. Following the completion of the sale, the executive vice president now directly owns 31,678 shares in the company, valued at $3,712,661.60. The trade was a 29.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.60% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several analysts have issued reports on HIG shares. StockNews.com cut shares of The Hartford Financial Services Group from a “buy” rating to a “hold” rating in a research note on Tuesday, March 18th. Royal Bank of Canada reissued a “sector perform” rating and set a $125.00 price objective on shares of The Hartford Financial Services Group in a research note on Monday, February 3rd. Wells Fargo & Company reduced their target price on The Hartford Financial Services Group from $130.00 to $126.00 and set an “overweight” rating for the company in a research report on Monday, February 3rd. Barclays raised The Hartford Financial Services Group from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $130.00 to $135.00 in a report on Monday, January 6th. Finally, Piper Sandler boosted their price objective on The Hartford Financial Services Group from $127.00 to $130.00 and gave the stock an “overweight” rating in a report on Monday, February 3rd. Ten research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $122.94.

The Hartford Financial Services Group Stock Performance

The Hartford Financial Services Group stock opened at $122.21 on Monday. The firm has a fifty day simple moving average of $115.52 and a two-hundred day simple moving average of $115.27. The company has a quick ratio of 0.32, a current ratio of 0.32 and a debt-to-equity ratio of 0.27. The Hartford Financial Services Group, Inc. has a twelve month low of $94.47 and a twelve month high of $124.90. The company has a market capitalization of $34.88 billion, a PE ratio of 11.81, a P/E/G ratio of 1.12 and a beta of 0.91.

The Hartford Financial Services Group (NYSE:HIG) last issued its earnings results on Thursday, January 30th. The insurance provider reported $2.94 earnings per share 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%. Research analysts expect that The Hartford Financial Services Group, Inc. will post 11.11 EPS for the current year.

The Hartford Financial Services Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 2nd. Investors of record on Monday, March 3rd will be paid a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 1.70%. The ex-dividend date is Monday, March 3rd. The Hartford Financial Services Group’s payout ratio is 20.10%.

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.