ExodusPoint Capital Management LP Makes New Investment in The Hartford Financial Services Group, Inc. (NYSE:HIG)

ExodusPoint Capital Management LP bought a new position in The Hartford Financial Services Group, Inc. (NYSE:HIG) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 57,195 shares of the insurance provider’s stock, valued at approximately $6,257,000.

Other institutional investors have also made changes to their positions in the company. HighTower Advisors LLC boosted its stake in The Hartford Financial Services Group by 7.1% in the 3rd quarter. HighTower Advisors LLC now owns 111,134 shares of the insurance provider’s stock worth $13,063,000 after purchasing an additional 7,350 shares during the period. Horizon Advisory Services Inc. acquired a new stake in shares of The Hartford Financial Services Group in the fourth quarter worth $277,000. Zurich Insurance Group Ltd FI purchased a new position in shares of The Hartford Financial Services Group during the third quarter valued at $19,005,000. Assenagon Asset Management S.A. raised its position in The Hartford Financial Services Group by 437.9% during the fourth quarter. Assenagon Asset Management S.A. now owns 871,318 shares of the insurance provider’s stock valued at $95,322,000 after buying an additional 709,324 shares during the period. Finally, Victory Capital Management Inc. lifted its stake in The Hartford Financial Services Group by 4.5% in the 4th quarter. Victory Capital Management Inc. now owns 4,701,675 shares of the insurance provider’s stock worth $514,363,000 after acquiring an additional 202,487 shares in the last quarter. 93.42% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

HIG has been the topic of a number of research reports. Wells Fargo & Company dropped their target price on The Hartford Financial Services Group from $130.00 to $126.00 and set an “overweight” rating on the stock in a report on Monday, February 3rd. StockNews.com lowered 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 target price on shares of The Hartford Financial Services Group in a research note on Monday, February 3rd. Piper Sandler boosted their price target 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. Finally, Raymond James increased their price objective on The Hartford Financial Services Group from $125.00 to $135.00 and gave the stock an “outperform” rating in a report on Monday, March 31st. Ten investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, The Hartford Financial Services Group presently has a consensus rating of “Moderate Buy” and an average price target of $123.47.

Insider Activity

In other news, CEO Christopher Swift sold 98,061 shares of The Hartford Financial Services Group stock in a transaction on Monday, March 17th. The stock was sold at an average price of $120.39, for a total value of $11,805,563.79. Following the completion of the sale, the chief executive officer now directly owns 211,082 shares of the company’s stock, valued at approximately $25,412,161.98. This trade represents a 31.72 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Robert W. Paiano sold 13,138 shares of the company’s stock in a transaction on Tuesday, March 11th. The shares were sold at an average price of $117.20, for a total value of $1,539,773.60. Following the transaction, the executive vice president now directly owns 31,678 shares in the company, valued at $3,712,661.60. This trade represents a 29.32 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 112,343 shares of company stock worth $13,488,337. Corporate insiders own 1.60% of the company’s stock.

The Hartford Financial Services Group Stock Down 8.0 %

HIG stock opened at $113.56 on Friday. The company has a 50-day moving average of $116.56 and a two-hundred day moving average of $115.48. The Hartford Financial Services Group, Inc. has a 52-week low of $94.47 and a 52-week high of $125.08. The stock has a market capitalization of $32.41 billion, a price-to-earnings ratio of 10.97, a price-to-earnings-growth ratio of 1.12 and a beta of 0.68. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.32 and a quick ratio of 0.32.

The Hartford Financial Services Group (NYSE:HIG) last posted its quarterly earnings data 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%. As a group, equities research analysts anticipate 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 disclosed a quarterly dividend, which was paid on Wednesday, April 2nd. Shareholders of record on Monday, March 3rd were given a $0.52 dividend. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.83%. The Hartford Financial Services Group’s dividend payout ratio is currently 20.10%.

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.