Silvercrest Asset Management Group LLC increased its stake in shares of The Hartford Financial Services Group, Inc. (NYSE:HIG - Free Report) by 377.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 108,076 shares of the insurance provider's stock after acquiring an additional 85,417 shares during the quarter. Silvercrest Asset Management Group LLC's holdings in The Hartford Financial Services Group were worth $11,824,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently bought and sold shares of the company. Thurston Springer Miller Herd & Titak Inc. lifted its stake in shares of The Hartford Financial Services Group by 3,342.9% in the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 241 shares of the insurance provider's stock valued at $26,000 after purchasing an additional 234 shares during the last quarter. Barrett & Company Inc. boosted its position in The Hartford Financial Services Group by 46.5% during the fourth quarter. Barrett & Company Inc. now owns 293 shares of the insurance provider's stock valued at $32,000 after purchasing an additional 93 shares in the last quarter. Itau Unibanco Holding S.A. acquired a new stake in The Hartford Financial Services Group in the fourth quarter valued at approximately $35,000. DT Investment Partners LLC raised its stake in The Hartford Financial Services Group by 49.8% in the fourth quarter. DT Investment Partners LLC now owns 331 shares of the insurance provider's stock valued at $36,000 after buying an additional 110 shares during the last quarter. Finally, Flagship Wealth Advisors LLC acquired a new stake in The Hartford Financial Services Group in the fourth quarter worth about $36,000. 93.42% of the stock is currently owned by institutional investors.
The Hartford Financial Services Group Stock Down 1.2%
Shares of HIG traded down $1.55 during mid-day trading on Wednesday, hitting $129.66. 1,681,114 shares of the company's stock were exchanged, compared to its average volume of 1,571,646. The stock's 50-day moving average is $121.27 and its 200-day moving average is $116.57. 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 fifty-two week low of $98.16 and a fifty-two week high of $132.09. The company has a market cap of $36.84 billion, a price-to-earnings ratio of 12.53, a P/E/G ratio of 1.12 and a beta of 0.70.
The Hartford Financial Services Group (NYSE:HIG - Get Free Report) last posted its quarterly earnings results on Thursday, April 24th. The insurance provider reported $2.20 earnings per share (EPS) for the quarter, beating 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 company had revenue of $6.81 billion for the quarter, compared to analyst estimates of $6.97 billion. During the same quarter last year, the company earned $2.34 EPS. The Hartford Financial Services Group's revenue for the quarter was up 6.1% compared to the same quarter last year. On average, sell-side analysts anticipate 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 company also recently announced a quarterly dividend, which will be paid on Wednesday, July 2nd. Investors of record on Monday, June 2nd will be paid a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.60%. The Hartford Financial Services Group's payout ratio is currently 20.74%.
Insider Activity at The Hartford Financial Services Group
In related news, CEO Christopher Swift sold 1,144 shares of the company's stock in a transaction that occurred on Wednesday, April 2nd. The stock was sold at an average price of $125.00, for a total value of $143,000.00. Following the completion of the transaction, the chief executive officer now directly owns 211,082 shares of the company's stock, valued at $26,385,250. This represents a 0.54% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Robert W. Paiano sold 13,138 shares of the firm's stock in a transaction that occurred on Tuesday, March 11th. The stock was sold at an average price of $117.20, for a total transaction of $1,539,773.60. Following the sale, the executive vice president now directly owns 31,678 shares in the company, valued at approximately $3,712,661.60. The trade was a 29.32% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 113,429 shares of company stock valued at $13,618,028 over the last quarter. 1.60% of the stock is owned by insiders.
Analyst Ratings Changes
A number of analysts recently commented on HIG shares. JPMorgan Chase & Co. lifted their target price on shares of The Hartford Financial Services Group from $125.00 to $129.00 and gave the stock a "neutral" rating in a research note on Tuesday, April 8th. Jefferies Financial Group reduced their target price on The Hartford Financial Services Group from $118.00 to $117.00 and set a "hold" rating for the company in a research note on Friday, April 11th. Barclays lifted their price target on 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 raised their price objective on 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. Finally, StockNews.com upgraded The Hartford Financial Services Group from a "hold" rating to a "buy" rating in a research report on Tuesday. 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. Based on data from MarketBeat, The Hartford Financial Services Group has an average rating of "Moderate Buy" and a consensus price target of $129.71.
Read Our Latest Stock Analysis on HIG
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.
Read More
Before you consider The Hartford Financial Services Group, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and The Hartford Financial Services Group wasn't on the list.
While The Hartford Financial Services Group currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Enter your email address and we'll send you MarketBeat's list of seven best retirement stocks and why they should be in your portfolio.
Get This Free Report
