Pictet Asset Management Holding SA Acquires 15,287 Shares of The Hartford Financial Services Group, Inc. (NYSE:HIG)

Pictet Asset Management Holding SA boosted its holdings in The Hartford Financial Services Group, Inc. (NYSE:HIG) by 4.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 383,830 shares of the insurance provider’s stock after purchasing an additional 15,287 shares during the period. Pictet Asset Management Holding SA owned about 0.13% of The Hartford Financial Services Group worth $41,991,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Norges Bank acquired a new stake in shares of The Hartford Financial Services Group in the fourth quarter valued at about $416,340,000. AustralianSuper Pty Ltd increased its position 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 worth $132,710,000 after purchasing an additional 881,224 shares during the last quarter. Assenagon Asset Management S.A. raised its stake in shares of The Hartford Financial Services Group by 437.9% during the 4th quarter. Assenagon Asset Management S.A. now owns 871,318 shares of the insurance provider’s stock worth $95,322,000 after purchasing an additional 709,324 shares in the last quarter. Proficio Capital Partners LLC boosted its holdings 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 valued at $632,000 after buying an additional 626,304 shares during the last quarter. Finally, Raymond James Financial Inc. bought a new position in shares of The Hartford Financial Services Group in the fourth quarter valued at $65,256,000. 93.42% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at The Hartford Financial Services Group

In other The Hartford Financial Services Group news, CEO Christopher Swift sold 98,061 shares of the 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 sale, the chief executive officer now directly owns 211,082 shares in the company, valued at $25,412,161.98. This represents a 31.72 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Robert W. Paiano sold 13,138 shares of the firm’s stock in a transaction dated Tuesday, March 11th. The shares were sold at an average price of $117.20, for a total transaction of $1,539,773.60. Following the completion of the transaction, the executive vice president now directly owns 31,678 shares in the company, valued at approximately $3,712,661.60. This represents 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 insiders.

The Hartford Financial Services Group Price Performance

Shares of The Hartford Financial Services Group stock opened at $122.21 on Monday. 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 stock has a market capitalization of $34.88 billion, a price-to-earnings ratio of 11.81, a price-to-earnings-growth ratio of 1.12 and a beta of 0.91. 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 50-day simple moving average of $115.52 and a two-hundred day simple moving average of $115.27.

The Hartford Financial Services Group (NYSE:HIG) last released its quarterly earnings results on Thursday, January 30th. The insurance provider reported $2.94 earnings per share for the quarter, beating analysts’ consensus estimates of $2.68 by $0.26. The Hartford Financial Services Group had a net margin of 11.72% and a return on equity of 19.55%. Analysts forecast that The Hartford Financial Services Group, Inc. will post 11.11 EPS for the current year.

The Hartford Financial Services Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 2nd. Stockholders of record on Monday, March 3rd will be issued a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 1.70%. The ex-dividend date of this dividend is Monday, March 3rd. The Hartford Financial Services Group’s dividend payout ratio (DPR) is currently 20.10%.

Analyst Upgrades and Downgrades

Several research firms have issued reports on HIG. Barclays raised shares of The Hartford Financial Services Group from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $130.00 to $135.00 in a research report on Monday, January 6th. StockNews.com downgraded 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 reiterated a “sector perform” rating and set a $125.00 price target on shares of The Hartford Financial Services Group in a report on Monday, February 3rd. Keefe, Bruyette & Woods upped their price objective on The Hartford Financial Services Group from $139.00 to $140.00 and gave the company an “outperform” rating in a research note on Wednesday, February 5th. Finally, Piper Sandler lifted their target price on The Hartford Financial Services Group from $127.00 to $130.00 and gave the stock an “overweight” rating in a research note on Monday, February 3rd. Ten 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. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $122.94.

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.