Diamond Hill Capital Management Inc. Has $314.05 Million Stock Position in The Hartford Financial Services Group, Inc. (NYSE:HIG)

Diamond Hill Capital Management Inc. reduced its position in The Hartford Financial Services Group, Inc. (NYSE:HIG) by 4.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,870,646 shares of the insurance provider’s stock after selling 128,723 shares during the quarter. Diamond Hill Capital Management Inc. owned approximately 0.99% of The Hartford Financial Services Group worth $314,049,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of HIG. Catalyst Financial Partners LLC lifted its holdings in shares of The Hartford Financial Services Group by 3.0% during the fourth quarter. Catalyst Financial Partners LLC now owns 3,079 shares of the insurance provider’s stock valued at $337,000 after acquiring an additional 90 shares during the period. Barrett & Company Inc. lifted its holdings in shares of The Hartford Financial Services Group by 46.5% during the fourth quarter. Barrett & Company Inc. now owns 293 shares of the insurance provider’s stock valued at $32,000 after acquiring an additional 93 shares during the period. Brooklyn Investment Group lifted its holdings in shares of The Hartford Financial Services Group by 4.0% during the third quarter. Brooklyn Investment Group now owns 2,444 shares of the insurance provider’s stock valued at $287,000 after acquiring an additional 94 shares during the period. Wilmington Savings Fund Society FSB lifted its holdings in shares of The Hartford Financial Services Group by 2.2% during the fourth quarter. Wilmington Savings Fund Society FSB now owns 4,468 shares of the insurance provider’s stock valued at $489,000 after acquiring an additional 97 shares during the period. Finally, Lifestyle Asset Management Inc. lifted its holdings in shares of The Hartford Financial Services Group by 0.9% during the fourth quarter. Lifestyle Asset Management Inc. now owns 11,499 shares of the insurance provider’s stock valued at $1,258,000 after acquiring an additional 98 shares during the period. 93.42% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, EVP Robert W. Paiano sold 13,138 shares of the stock in a transaction that occurred on 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 sale, the executive vice president now directly owns 31,678 shares of the company’s stock, valued at approximately $3,712,661.60. This represents a 29.32 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.60% of the stock is owned by company insiders.

The Hartford Financial Services Group Price Performance

The Hartford Financial Services Group stock opened at $116.41 on Friday. The firm has a market capitalization of $33.22 billion, a P/E ratio of 11.25, a PEG ratio of 1.12 and a beta of 0.91. The Hartford Financial Services Group, Inc. has a 1 year low of $94.47 and a 1 year high of $124.90. The business has a 50-day moving average of $113.06 and a 200-day moving average of $114.85. 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 (NYSE:HIG) last posted its earnings results on Thursday, January 30th. The insurance provider reported $2.94 earnings per share (EPS) for the quarter, topping 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%. On average, equities analysts anticipate that The Hartford Financial Services Group, Inc. will post 11.11 EPS for the current year.

The Hartford Financial Services Group Dividend Announcement

The firm 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 dividend of $0.52 per share. The ex-dividend date is Monday, March 3rd. This represents a $2.08 dividend on an annualized basis and a yield of 1.79%. The Hartford Financial Services Group’s payout ratio is 20.10%.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on HIG. Piper Sandler raised their target price on The Hartford Financial Services Group from $127.00 to $130.00 and gave the company an “overweight” rating in a research note on Monday, February 3rd. Royal Bank of Canada restated a “sector perform” rating and issued a $125.00 target price on shares of The Hartford Financial Services Group in a research note on Monday, February 3rd. BMO Capital Markets raised their target price on The Hartford Financial Services Group from $100.00 to $141.00 and gave the company a “market perform” rating in a research note on Wednesday, November 27th. Wells Fargo & Company lowered 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 note on Monday, February 3rd. Finally, Barclays upgraded The Hartford Financial Services Group from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $130.00 to $135.00 in a research note on Monday, January 6th. Nine analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $122.94.

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.