Mystic Asset Management Inc. Takes Position in The Hartford Financial Services Group, Inc. (NYSE:HIG)

Mystic Asset Management Inc. bought a new position in The Hartford Financial Services Group, Inc. (NYSE:HIG) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 12,953 shares of the insurance provider’s stock, valued at approximately $1,417,000.

Other hedge funds also recently bought and sold shares of the company. Thurston Springer Miller Herd & Titak Inc. increased its stake in shares of The Hartford Financial Services Group by 3,342.9% during the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 241 shares of the insurance provider’s stock valued at $26,000 after buying an additional 234 shares during the period. Barrett & Company Inc. lifted its stake in The Hartford Financial Services Group by 46.5% in the fourth quarter. Barrett & Company Inc. now owns 293 shares of the insurance provider’s stock worth $32,000 after acquiring an additional 93 shares during the period. BNP Paribas bought a new stake in The Hartford Financial Services Group in the third quarter valued at $35,000. DT Investment Partners LLC increased its position in The Hartford Financial Services Group by 49.8% during the 4th quarter. DT Investment Partners LLC now owns 331 shares of the insurance provider’s stock valued at $36,000 after purchasing an additional 110 shares during the period. Finally, Flagship Wealth Advisors LLC bought a new position in The Hartford Financial Services Group in the 4th quarter worth $36,000. Hedge funds and other institutional investors own 93.42% of the company’s stock.

Insiders Place Their Bets

In other news, EVP Robert W. Paiano sold 13,138 shares of The Hartford Financial Services Group stock in a transaction that occurred 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 completion of the sale, the executive vice president now directly owns 31,678 shares in the company, valued at $3,712,661.60. The trade was a 29.32 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 1.60% of the stock is owned by insiders.

The Hartford Financial Services Group Trading Up 1.3 %

NYSE:HIG opened at $120.48 on Tuesday. The stock has a market cap of $34.38 billion, a price-to-earnings ratio of 11.64, a PEG ratio of 1.12 and a beta of 0.91. 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 company’s 50 day moving average price is $113.49 and its 200-day moving average price is $114.94. The Hartford Financial Services Group, Inc. has a 52 week low of $94.47 and a 52 week high of $124.90.

The Hartford Financial Services Group (NYSE:HIG) last issued its earnings results on Thursday, January 30th. The insurance provider reported $2.94 EPS 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%. On average, equities research analysts forecast that The Hartford Financial Services Group, Inc. will post 11.11 earnings per share for the current fiscal year.

The Hartford Financial Services Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 2nd. Investors of record on Monday, March 3rd will be issued a $0.52 dividend. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $2.08 annualized dividend and a yield of 1.73%. 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. Royal Bank of Canada reaffirmed 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. Barclays raised The Hartford Financial Services Group from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $130.00 to $135.00 in a research report on Monday, January 6th. Piper Sandler increased 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 report on Monday, February 3rd. Keefe, Bruyette & Woods lifted their price target on The Hartford Financial Services Group from $139.00 to $140.00 and gave the company an “outperform” rating in a research report on Wednesday, February 5th. Finally, BMO Capital Markets upped their price target on The Hartford Financial Services Group from $100.00 to $141.00 and gave the stock a “market perform” rating in a research note on Wednesday, November 27th. Ten investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target 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.