Axecap Investments LLC Decreases Stock Holdings in The Hartford Financial Services Group, Inc. (NYSE:HIG)

Axecap Investments LLC lessened its stake in shares of The Hartford Financial Services Group, Inc. (NYSE:HIG - Free Report) by 30.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,895 shares of the insurance provider's stock after selling 3,519 shares during the quarter. Axecap Investments LLC's holdings in The Hartford Financial Services Group were worth $977,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of the stock. Geode Capital Management LLC raised its position in The Hartford Financial Services Group by 1.1% in the fourth quarter. Geode Capital Management LLC now owns 7,251,389 shares of the insurance provider's stock valued at $792,796,000 after purchasing an additional 81,495 shares during the period. Victory Capital Management Inc. grew its stake in shares of The Hartford Financial Services Group by 4.5% in the fourth quarter. Victory Capital Management Inc. now owns 4,701,675 shares of the insurance provider's stock valued at $514,363,000 after buying an additional 202,487 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of The Hartford Financial Services Group by 6.5% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,830,462 shares of the insurance provider's stock valued at $419,053,000 after buying an additional 234,320 shares during the period. Norges Bank acquired a new position in The Hartford Financial Services Group during the 4th quarter worth about $416,340,000. Finally, Northern Trust Corp boosted its holdings in The Hartford Financial Services Group by 17.2% during the 4th quarter. Northern Trust Corp now owns 3,537,665 shares of the insurance provider's stock valued at $387,021,000 after acquiring an additional 519,717 shares during the period. Hedge funds and other institutional investors own 93.42% of the company's stock.

Analyst Ratings Changes

Several analysts have recently issued reports on the stock. Barclays increased their price target on shares of The Hartford Financial Services Group from $140.00 to $145.00 and gave the stock an "overweight" rating in a research report on Friday, April 25th. Raymond James boosted their price target on shares of The Hartford Financial Services Group from $125.00 to $135.00 and gave the stock an "outperform" rating in a research note on Monday, March 31st. UBS Group upped their price objective on The Hartford Financial Services Group from $139.00 to $142.00 and gave the stock a "buy" rating in a research report on Monday, April 28th. Wall Street Zen upgraded The Hartford Financial Services Group from a "hold" rating to a "buy" rating in a report on Tuesday, May 20th. Finally, Keefe, Bruyette & Woods lowered their target price on The Hartford Financial Services Group from $140.00 to $133.00 and set an "outperform" rating for the company in a research note on Wednesday, April 9th. Seven research 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. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $129.71.

The Hartford Financial Services Group Stock Performance

Shares of HIG stock traded down $0.89 during mid-day trading on Friday, hitting $125.37. 435,384 shares of the stock were exchanged, compared to its average volume of 1,578,735. The stock's fifty day simple moving average is $124.01 and its two-hundred day simple moving average is $117.90. 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, Inc. has a 12-month low of $98.16 and a 12-month high of $132.09. The stock has a market capitalization of $35.62 billion, a price-to-earnings ratio of 12.12, a P/E/G ratio of 1.12 and a beta of 0.71.

The Hartford Financial Services Group (NYSE:HIG - Get Free Report) last released its quarterly earnings results on Thursday, April 24th. The insurance provider reported $2.20 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.15 by $0.05. The Hartford Financial Services Group had a return on equity of 19.55% and a net margin of 11.72%. The firm had revenue of $6.81 billion for the quarter, compared to the consensus estimate of $6.97 billion. During the same quarter last year, the business posted $2.34 EPS. The firm's quarterly revenue was up 6.1% compared to the same quarter last year. On average, analysts forecast that The Hartford Financial Services Group, Inc. will post 11.11 EPS for the current year.

The Hartford Financial Services Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 2nd. Shareholders of record on Monday, June 2nd will be paid a $0.52 dividend. The ex-dividend date of this dividend is Monday, June 2nd. This represents a $2.08 dividend on an annualized basis and a yield of 1.66%. The Hartford Financial Services Group's dividend payout ratio is presently 20.74%.

Insider Activity

In related 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 completion of the transaction, the chief executive officer now directly owns 211,082 shares of the company's stock, valued at $25,412,161.98. This represents a 31.72% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, SVP Allison G. Niderno sold 1,086 shares of The Hartford Financial Services Group stock in a transaction that occurred on Monday, April 28th. The shares were sold at an average price of $119.42, for a total value of $129,690.12. Following the completion of the sale, the senior vice president now directly owns 622 shares in the company, valued at $74,279.24. This represents a 63.58% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 100,291 shares of company stock valued at $12,078,254. Insiders own 1.50% of the company's stock.

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.