Hsbc Holdings PLC Has $114.58 Million Stake in The Hartford Financial Services Group, Inc. (NYSE:HIG)

Hsbc Holdings PLC cut its holdings in shares of The Hartford Financial Services Group, Inc. (NYSE:HIG - Free Report) by 2.8% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,047,708 shares of the insurance provider's stock after selling 29,850 shares during the quarter. Hsbc Holdings PLC owned approximately 0.36% of The Hartford Financial Services Group worth $114,577,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. World Investment Advisors LLC purchased a new stake in shares of The Hartford Financial Services Group in the 3rd quarter valued at about $661,000. Wilmington Savings Fund Society FSB bought a new position in The Hartford Financial Services Group during the 3rd quarter valued at approximately $514,000. Tidal Investments LLC grew its position in shares of The Hartford Financial Services Group by 73.0% in the 3rd quarter. Tidal Investments LLC now owns 17,774 shares of the insurance provider's stock worth $2,090,000 after buying an additional 7,500 shares during the last quarter. Synovus Financial Corp raised its holdings in shares of The Hartford Financial Services Group by 4.0% during the third quarter. Synovus Financial Corp now owns 10,029 shares of the insurance provider's stock valued at $1,180,000 after acquiring an additional 384 shares in the last quarter. Finally, Peapack Gladstone Financial Corp purchased a new stake in The Hartford Financial Services Group in the third quarter worth $420,000. 93.42% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at The Hartford Financial Services Group

In other news, EVP Robert W. Paiano sold 13,138 shares of the firm's stock in a transaction that occurred on Tuesday, March 11th. The shares were sold at an average price of $117.20, for a total transaction of $1,539,773.60. Following the completion of the sale, the executive vice president now owns 31,678 shares of the company's stock, valued at approximately $3,712,661.60. This trade represents a 29.32 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Christopher Swift sold 1,144 shares of the 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 sale, the chief executive officer now owns 211,082 shares in the company, valued at $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. Over the last 90 days, insiders have sold 112,343 shares of company stock valued at $13,488,337. Insiders own 1.60% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. Keefe, Bruyette & Woods decreased their price objective 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. Royal Bank of Canada restated a "sector perform" rating and issued a $125.00 price objective on shares of The Hartford Financial Services Group in a report on Monday, February 3rd. Barclays raised their target price on The Hartford Financial Services Group from $140.00 to $145.00 and gave the company an "overweight" rating in a research note on Friday. Jefferies Financial Group reduced their price target on The Hartford Financial Services Group from $118.00 to $117.00 and set a "hold" rating on the stock in a research note on Friday, April 11th. Finally, StockNews.com raised shares of The Hartford Financial Services Group from a "hold" rating to a "buy" rating in a research note on Tuesday. Seven research analysts have rated the stock with a hold rating, eight have given 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 presently has a consensus rating of "Moderate Buy" and an average price target of $126.87.

The Hartford Financial Services Group Price Performance

Shares of NYSE:HIG traded up $0.89 during midday trading on Tuesday, hitting $121.30. The company's stock had a trading volume of 458,500 shares, compared to its average volume of 1,565,434. 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 business's 50 day simple moving average is $117.81 and its 200 day simple moving average is $115.42. The Hartford Financial Services Group, Inc. has a 12-month low of $95.00 and a 12-month high of $125.08. The company has a market cap of $34.94 billion, a P/E ratio of 11.71, a price-to-earnings-growth ratio of 1.12 and a beta of 0.68.

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, 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 during the quarter, compared to analysts' expectations of $6.97 billion. During the same period last year, the business posted $2.34 EPS. The Hartford Financial Services Group's revenue for the quarter was up 6.1% on a year-over-year basis. 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 Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 2nd. Investors of record on Monday, March 3rd were paid a $0.52 dividend. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.71%. The Hartford Financial Services Group's dividend payout ratio (DPR) is presently 20.10%.

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.