Cibc World Markets Corp Has $5.62 Million Stake in The Hartford Financial Services Group, Inc. (NYSE:HIG)

Cibc World Markets Corp boosted its stake in shares of The Hartford Financial Services Group, Inc. (NYSE:HIGFree Report) by 42.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 69,891 shares of the insurance provider’s stock after acquiring an additional 20,775 shares during the quarter. Cibc World Markets Corp’s holdings in The Hartford Financial Services Group were worth $5,618,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Oppenheimer & Co. Inc. grew its holdings in shares of The Hartford Financial Services Group by 20.6% during the third quarter. Oppenheimer & Co. Inc. now owns 4,091 shares of the insurance provider’s stock worth $290,000 after purchasing an additional 700 shares during the last quarter. J.P. Morgan Private Wealth Advisors LLC bought a new position in shares of The Hartford Financial Services Group in the third quarter worth about $2,828,000. NewEdge Wealth LLC grew its stake in shares of The Hartford Financial Services Group by 17.2% during the third quarter. NewEdge Wealth LLC now owns 7,919 shares of the insurance provider’s stock valued at $562,000 after purchasing an additional 1,162 shares during the last quarter. Janney Montgomery Scott LLC increased its holdings in shares of The Hartford Financial Services Group by 0.4% in the third quarter. Janney Montgomery Scott LLC now owns 109,357 shares of the insurance provider’s stock valued at $7,755,000 after purchasing an additional 456 shares in the last quarter. Finally, Sequoia Financial Advisors LLC raised its position in The Hartford Financial Services Group by 4.5% in the 3rd quarter. Sequoia Financial Advisors LLC now owns 3,928 shares of the insurance provider’s stock worth $279,000 after purchasing an additional 169 shares during the last quarter. 93.42% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, EVP Michael R. Fisher sold 27,004 shares of the firm’s stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $98.90, for a total value of $2,670,695.60. Following the completion of the transaction, the executive vice president now owns 18,906 shares of the company’s stock, valued at $1,869,803.40. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other The Hartford Financial Services Group news, EVP Jonathan R. Bennett sold 18,335 shares of the company’s stock in a transaction on Thursday, May 9th. The shares were sold at an average price of $100.78, for a total transaction of $1,847,801.30. Following the sale, the executive vice president now directly owns 25,643 shares of the company’s stock, valued at $2,584,301.54. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Michael R. Fisher sold 27,004 shares of The Hartford Financial Services Group stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $98.90, for a total transaction of $2,670,695.60. Following the completion of the transaction, the executive vice president now directly owns 18,906 shares of the company’s stock, valued at approximately $1,869,803.40. The disclosure for this sale can be found here. Over the last three months, insiders sold 117,415 shares of company stock worth $11,705,195. 1.60% of the stock is owned by corporate insiders.

The Hartford Financial Services Group Price Performance

NYSE HIG opened at $99.76 on Friday. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.31 and a current ratio of 0.31. The Hartford Financial Services Group, Inc. has a 52-week low of $68.82 and a 52-week high of $103.64. The business has a 50 day simple moving average of $100.08 and a 200 day simple moving average of $91.80. The stock has a market cap of $29.51 billion, a price-to-earnings ratio of 11.34, a PEG ratio of 0.83 and a beta of 0.93.

The Hartford Financial Services Group (NYSE:HIGGet Free Report) last issued its quarterly earnings data on Thursday, April 25th. The insurance provider reported $2.34 EPS for the quarter, missing analysts’ consensus estimates of $2.43 by ($0.09). The company had revenue of $6.42 billion for the quarter, compared to analyst estimates of $6.51 billion. The Hartford Financial Services Group had a return on equity of 20.64% and a net margin of 10.87%. The company’s revenue was up 8.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.68 earnings per share. Analysts anticipate that The Hartford Financial Services Group, Inc. will post 9.94 earnings per share for the current fiscal year.

The Hartford Financial Services Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 2nd. Stockholders of record on Monday, June 3rd will be given a dividend of $0.47 per share. The ex-dividend date is Monday, June 3rd. This represents a $1.88 annualized dividend and a dividend yield of 1.88%. The Hartford Financial Services Group’s dividend payout ratio is currently 21.36%.

Analyst Ratings Changes

Several equities research analysts have recently commented on the company. The Goldman Sachs Group lifted their target price on The Hartford Financial Services Group from $92.00 to $105.00 and gave the company a “buy” rating in a research note on Friday, April 12th. Citigroup upped their target price on shares of The Hartford Financial Services Group from $113.00 to $116.00 and gave the company a “neutral” rating in a research report on Monday, May 13th. Roth Mkm lifted their price target on shares of The Hartford Financial Services Group from $90.00 to $95.00 and gave the stock a “neutral” rating in a research report on Friday, April 26th. Morgan Stanley reduced their price objective 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 note on Friday, April 26th. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $115.00 target price on shares of The Hartford Financial Services Group in a report on Monday, April 1st. Eight equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $105.88.

Read Our Latest Analysis on The Hartford Financial Services Group

About The Hartford Financial Services Group

(Free Report)

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.

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Institutional Ownership by Quarter for The Hartford Financial Services Group (NYSE:HIG)

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