NorthRock Partners LLC bought a new stake in shares of The Hartford Financial Services Group, Inc. (NYSE:HIG - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 3,112 shares of the insurance provider's stock, valued at approximately $340,000.
Other institutional investors have also recently added to or reduced their stakes in the company. 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 raised its holdings 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 valued at $132,710,000 after buying an additional 881,224 shares during the period. Ameriprise Financial Inc. lifted its position in The Hartford Financial Services Group by 48.1% during the 4th quarter. Ameriprise Financial Inc. now owns 2,264,397 shares of the insurance provider's stock worth $247,761,000 after acquiring an additional 735,170 shares in the last quarter. Proficio Capital Partners LLC boosted its holdings in 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 worth $632,000 after acquiring an additional 626,304 shares during the period. Finally, Raymond James Financial Inc. purchased a new position in The Hartford Financial Services Group in the 4th quarter worth approximately $65,256,000. 93.42% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
A number of brokerages have recently issued reports on HIG. Wells Fargo & Company dropped their target price on The Hartford Financial Services Group from $126.00 to $125.00 and set an "overweight" rating on the stock in a research report on Thursday, April 10th. Raymond James lifted their price objective on The Hartford Financial Services Group from $125.00 to $135.00 and gave the stock an "outperform" rating in a report on Monday, March 31st. StockNews.com upgraded The Hartford Financial Services Group from a "hold" rating to a "buy" rating in a research note on Tuesday. JPMorgan Chase & Co. raised their price target on shares of The Hartford Financial Services Group from $125.00 to $129.00 and gave the stock a "neutral" rating in a research report on Tuesday, April 8th. Finally, Keefe, Bruyette & Woods cut their price target on shares of The Hartford Financial Services Group from $140.00 to $133.00 and set an "outperform" rating on the stock in a report on Wednesday, April 9th. Seven investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $129.71.
Read Our Latest Research Report on HIG
Insider Activity
In related news, SVP Allison G. Niderno sold 1,086 shares of The Hartford Financial Services Group stock in a transaction dated Monday, April 28th. The stock was sold at an average price of $119.42, for a total value of $129,690.12. Following the transaction, the senior vice president now owns 622 shares of the company's stock, valued at approximately $74,279.24. This trade represents a 63.58% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Christopher Swift sold 1,144 shares of the firm's stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $125.00, for a total transaction of $143,000.00. Following the completion of the transaction, the chief executive officer now owns 211,082 shares of the company's stock, valued at approximately $26,385,250. The trade was a 0.54% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 113,429 shares of company stock worth $13,618,028. Corporate insiders own 1.60% of the company's stock.
The Hartford Financial Services Group Price Performance
Shares of HIG stock traded down $1.55 during midday trading on Wednesday, reaching $129.66. 1,681,114 shares of the company were exchanged, compared to its average volume of 1,569,253. The company's 50 day moving average price is $121.27 and its two-hundred day moving average price is $116.57. The company has a market cap of $36.84 billion, a P/E ratio of 12.53, a PEG ratio of 1.12 and a beta of 0.70. The Hartford Financial Services Group, Inc. has a 12 month low of $98.16 and a 12 month high of $132.09. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.32 and a current ratio of 0.32.
The Hartford Financial Services Group (NYSE:HIG - Get Free Report) last announced its earnings results on Thursday, April 24th. The insurance provider reported $2.20 EPS for the quarter, topping the consensus estimate of $2.15 by $0.05. The firm had revenue of $6.81 billion for the quarter, compared to analysts' expectations of $6.97 billion. The Hartford Financial Services Group had a return on equity of 19.55% and a net margin of 11.72%. The firm's quarterly revenue was up 6.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.34 earnings per share. On average, sell-side analysts expect that The Hartford Financial Services Group, Inc. will post 11.11 earnings per share for the current year.
The Hartford Financial Services Group Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 2nd. Stockholders of record on Monday, June 2nd will be given a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 1.60%. The Hartford Financial Services Group's dividend payout ratio (DPR) is 20.74%.
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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