NTV Asset Management LLC Cuts Stock Position in The Hartford Financial Services Group, Inc. (NYSE:HIG)

NTV Asset Management LLC decreased its holdings in The Hartford Financial Services Group, Inc. (NYSE:HIG) by 15.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 6,221 shares of the insurance provider’s stock after selling 1,166 shares during the quarter. NTV Asset Management LLC’s holdings in The Hartford Financial Services Group were worth $500,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in HIG. Invesco Ltd. raised its position in The Hartford Financial Services Group by 1.3% in the 3rd quarter. Invesco Ltd. now owns 7,421,268 shares of the insurance provider’s stock valued at $526,242,000 after purchasing an additional 91,911 shares in the last quarter. Victory Capital Management Inc. lifted its stake in The Hartford Financial Services Group by 2.1% in the fourth quarter. Victory Capital Management Inc. now owns 5,247,966 shares of the insurance provider’s stock worth $421,832,000 after acquiring an additional 105,799 shares during the last quarter. LSV Asset Management grew its holdings in The Hartford Financial Services Group by 3.5% during the 4th quarter. LSV Asset Management now owns 4,821,885 shares of the insurance provider’s stock worth $387,583,000 after acquiring an additional 165,190 shares in the last quarter. Ameriprise Financial Inc. increased its position in shares of The Hartford Financial Services Group by 2.5% in the 3rd quarter. Ameriprise Financial Inc. now owns 3,503,815 shares of the insurance provider’s stock valued at $248,646,000 after purchasing an additional 87,001 shares during the last quarter. Finally, Northern Trust Corp increased its position in shares of The Hartford Financial Services Group by 2.7% in the 3rd quarter. Northern Trust Corp now owns 3,363,524 shares of the insurance provider’s stock valued at $238,507,000 after purchasing an additional 88,131 shares during the last quarter. Hedge funds and other institutional investors own 93.42% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on HIG shares. Raymond James reiterated an “outperform” rating and set a $120.00 target price (up previously from $100.00) on shares of The Hartford Financial Services Group in a research note on Monday, April 1st. Piper Sandler reiterated an “overweight” rating and issued a $115.00 price objective on shares of The Hartford Financial Services Group in a report on Monday, April 1st. UBS Group boosted their target price on The Hartford Financial Services Group from $100.00 to $107.00 and gave the stock a “buy” rating in a research note on Monday, February 5th. TD Cowen upped their price target on The Hartford Financial Services Group to $144.00 and gave the company a “buy” rating in a report on Wednesday, April 3rd. Finally, Morgan Stanley cut 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 report on Friday, April 26th. Seven equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, The Hartford Financial Services Group has a consensus rating of “Moderate Buy” and an average target price of $105.44.

Insider Activity

In other The Hartford Financial Services Group news, SVP Allison G. Niderno sold 1,332 shares of the business’s stock in a transaction that occurred on Tuesday, February 6th. The stock was sold at an average price of $89.74, for a total transaction of $119,533.68. Following the transaction, the senior vice president now owns 630 shares in the company, valued at approximately $56,536.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other The Hartford Financial Services Group news, SVP Allison G. Niderno sold 1,332 shares of the firm’s stock in a transaction on Tuesday, February 6th. The stock was sold at an average price of $89.74, for a total value of $119,533.68. Following the completion of the sale, the senior vice president now owns 630 shares of the company’s stock, valued at $56,536.20. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, SVP Allison G. Niderno sold 1,516 shares of the business’s stock in a transaction on Monday, March 4th. The stock was sold at an average price of $94.55, for a total transaction of $143,337.80. Following the sale, the senior vice president now owns 630 shares in the company, valued at $59,566.50. The disclosure for this sale can be found here. Insiders have sold a total of 106,501 shares of company stock valued at $10,141,126 over the last quarter. Corporate insiders own 1.60% of the company’s stock.

The Hartford Financial Services Group Stock Performance

Shares of NYSE HIG traded up $0.41 during midday trading on Friday, reaching $97.90. 1,358,945 shares of the company were exchanged, compared to its average volume of 1,787,088. The stock has a market cap of $28.95 billion, a P/E ratio of 11.13, a PEG ratio of 1.39 and a beta of 0.90. The Hartford Financial Services Group, Inc. has a 1 year low of $67.05 and a 1 year high of $103.64. The stock has a fifty day simple moving average of $98.81 and a 200 day simple moving average of $87.34. The company has a current ratio of 0.31, a quick ratio of 0.31 and a debt-to-equity ratio of 0.29.

The Hartford Financial Services Group (NYSE:HIG) last released its earnings results on Thursday, April 25th. The insurance provider reported $2.34 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.43 by ($0.09). The Hartford Financial Services Group had a net margin of 10.87% and a return on equity of 20.64%. The company had revenue of $6.42 billion during the quarter, compared to analyst estimates of $6.51 billion. During the same period in the previous year, the firm posted $1.68 EPS. The company’s revenue for the quarter was up 8.6% on a year-over-year basis. On average, research analysts forecast that The Hartford Financial Services Group, Inc. will post 10.01 earnings per share for the current fiscal year.

The Hartford Financial Services Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 2nd. Stockholders of record on Monday, March 4th were paid a $0.47 dividend. This represents a $1.88 annualized dividend and a dividend yield of 1.92%. The ex-dividend date of this dividend was Friday, March 1st. The Hartford Financial Services Group’s dividend payout ratio (DPR) is presently 21.36%.

About The Hartford Financial Services Group

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.