Griffin Asset Management Inc. Raises Stake in The Hartford Financial Services Group, Inc. (NYSE:HIG)

Griffin Asset Management Inc. lifted its holdings in The Hartford Financial Services Group, Inc. (NYSE:HIG - Free Report) by 114.9% in the first quarter, according to the company in its most recent filing with the SEC. The fund owned 15,385 shares of the insurance provider's stock after acquiring an additional 8,225 shares during the quarter. Griffin Asset Management Inc.'s holdings in The Hartford Financial Services Group were worth $1,904,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in HIG. Spurstone Advisory Services LLC bought a new stake in shares of The Hartford Financial Services Group in the 4th quarter worth approximately $33,000. Itau Unibanco Holding S.A. bought a new stake in shares of The Hartford Financial Services Group in the 4th quarter worth approximately $35,000. DT Investment Partners LLC lifted its holdings in shares of The Hartford Financial Services Group by 49.8% in the 4th quarter. DT Investment Partners LLC now owns 331 shares of the insurance provider's stock worth $36,000 after acquiring an additional 110 shares during the last quarter. Flagship Wealth Advisors LLC bought a new stake in shares of The Hartford Financial Services Group in the 4th quarter worth approximately $36,000. Finally, Key Financial Inc raised its holdings in The Hartford Financial Services Group by 526.3% during the 4th quarter. Key Financial Inc now owns 357 shares of the insurance provider's stock valued at $39,000 after buying an additional 300 shares during the last quarter. 93.42% of the stock is currently owned by institutional investors.

The Hartford Financial Services Group Stock Down 0.9%

Shares of NYSE:HIG traded down $1.15 during midday trading on Friday, reaching $125.11. The company's stock had a trading volume of 861,947 shares, compared to its average volume of 1,579,593. The firm has a 50 day moving average of $124.32 and a 200-day moving average of $117.92. The firm has a market capitalization of $35.54 billion, a P/E ratio of 12.09, a PEG ratio of 1.12 and a beta of 0.71. 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 Hartford Financial Services Group, Inc. has a 12-month low of $98.16 and a 12-month high of $132.09.

The Hartford Financial Services Group (NYSE:HIG - Get Free Report) last released its earnings results on Thursday, April 24th. The insurance provider reported $2.20 earnings per share for the quarter, topping analysts' consensus estimates of $2.15 by $0.05. The firm had revenue of $6.81 billion for the quarter, compared to the consensus estimate of $6.97 billion. The Hartford Financial Services Group had a net margin of 11.72% and a return on equity of 19.55%. The company's revenue was up 6.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.34 EPS. On average, research analysts anticipate 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 company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 2nd. Investors 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 yield of 1.66%. The ex-dividend date of this dividend is Monday, June 2nd. The Hartford Financial Services Group's dividend payout ratio (DPR) is 20.74%.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on HIG shares. Keefe, Bruyette & Woods lowered their price target on shares of The Hartford Financial Services Group from $140.00 to $133.00 and set an "outperform" rating for the company in a report on Wednesday, April 9th. Wall Street Zen upgraded shares of The Hartford Financial Services Group from a "hold" rating to a "buy" rating in a report on Tuesday, May 20th. Wells Fargo & Company lowered their price target on shares of The Hartford Financial Services Group from $126.00 to $125.00 and set an "overweight" rating for the company in a report on Thursday, April 10th. Barclays upped their price target on shares of The Hartford Financial Services Group from $140.00 to $145.00 and gave the company an "overweight" rating in a report on Friday, April 25th. Finally, Morgan Stanley upped their price target on shares of The Hartford Financial Services Group from $115.00 to $130.00 and gave the company an "equal weight" rating in a report on Monday, May 19th. Seven equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $131.15.

Insider Activity at The Hartford Financial Services Group

In other news, SVP Allison G. Niderno sold 1,086 shares of the firm's stock in a transaction dated Monday, April 28th. The shares were sold at an average price of $119.42, for a total transaction of $129,690.12. Following the sale, the senior vice president now owns 622 shares of the company's stock, valued at $74,279.24. This trade represents a 63.58% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Christopher Swift sold 98,061 shares of the firm's 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 sale, the chief executive officer now directly owns 211,082 shares in the company, valued at approximately $25,412,161.98. The trade was a 31.72% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 100,291 shares of company stock valued at $12,078,254. 1.50% of the stock is owned by insiders.

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.