Ameriprise Financial Inc. Increases Stock Holdings in The Hartford Financial Services Group, Inc. (NYSE:HIG)

Ameriprise Financial Inc. boosted its holdings in shares of The Hartford Financial Services Group, Inc. (NYSE:HIG - Free Report) by 48.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,264,397 shares of the insurance provider's stock after buying an additional 735,170 shares during the period. Ameriprise Financial Inc. owned approximately 0.78% of The Hartford Financial Services Group worth $247,761,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also added to or reduced their stakes in the business. Geode Capital Management LLC grew its position in The Hartford Financial Services Group by 1.1% during the 4th quarter. Geode Capital Management LLC now owns 7,251,389 shares of the insurance provider's stock worth $792,796,000 after purchasing an additional 81,495 shares during the last quarter. Victory Capital Management Inc. increased its position in shares of The Hartford Financial Services Group by 4.5% in the 4th quarter. Victory Capital Management Inc. now owns 4,701,675 shares of the insurance provider's stock valued at $514,363,000 after acquiring an additional 202,487 shares during the period. Nordea Investment Management AB raised its stake in The Hartford Financial Services Group by 17.3% in the 4th quarter. Nordea Investment Management AB now owns 3,938,421 shares of the insurance provider's stock worth $430,272,000 after acquiring an additional 581,103 shares during the last quarter. Norges Bank acquired a new stake in The Hartford Financial Services Group during the 4th quarter worth about $416,340,000. Finally, Northern Trust Corp increased its holdings in shares of The Hartford Financial Services Group by 17.2% in the fourth quarter. Northern Trust Corp now owns 3,537,665 shares of the insurance provider's stock valued at $387,021,000 after purchasing an additional 519,717 shares during the period. Institutional investors and hedge funds own 93.42% of the company's stock.

The Hartford Financial Services Group Price Performance

HIG stock traded down $0.71 during mid-day trading on Friday, reaching $127.50. The company's stock had a trading volume of 1,350,259 shares, compared to its average volume of 1,573,679. The stock has a market cap of $36.22 billion, a PE ratio of 12.32, a P/E/G ratio of 1.12 and a beta of 0.70. The company's 50 day moving average is $119.54 and its two-hundred day moving average is $115.77. The Hartford Financial Services Group, Inc. has a fifty-two week low of $98.16 and a fifty-two week high of $129.55. The company has a current ratio of 0.32, a quick ratio of 0.32 and a debt-to-equity ratio of 0.27.

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 EPS for the quarter, topping the consensus estimate 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 business had revenue of $6.81 billion for the quarter, compared to analyst estimates of $6.97 billion. During the same quarter in the previous year, the firm earned $2.34 EPS. The company's quarterly revenue was up 6.1% compared to the same quarter last year. Equities research analysts expect 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 disclosed a quarterly dividend, which was paid on Wednesday, April 2nd. Investors of record on Monday, March 3rd were given a $0.52 dividend. The ex-dividend date was Monday, March 3rd. This represents a $2.08 annualized dividend and a yield of 1.63%. The Hartford Financial Services Group's payout ratio is 20.74%.

Wall Street Analysts Forecast Growth

HIG has been the topic of a number of recent research reports. Keefe, Bruyette & Woods dropped their target price on The Hartford Financial Services Group from $140.00 to $133.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 9th. Jefferies Financial Group cut their price objective on shares of 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. Wells Fargo & Company decreased their target price on shares of The Hartford Financial Services Group from $126.00 to $125.00 and set an "overweight" rating for the company in a research report on Thursday, April 10th. UBS Group increased their price target 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. Finally, StockNews.com raised The Hartford Financial Services Group from a "hold" rating to a "buy" rating in a report on Tuesday, April 29th. Seven research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $126.87.

Insiders Place Their Bets

In related news, EVP Robert W. Paiano sold 13,138 shares of The Hartford Financial Services Group stock in a transaction that occurred on Tuesday, March 11th. The shares were sold at an average price of $117.20, for a total value of $1,539,773.60. Following the completion of the sale, the executive vice president now owns 31,678 shares in the company, valued at approximately $3,712,661.60. This trade represents a 29.32 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Allison G. Niderno sold 1,086 shares of The Hartford Financial Services Group stock in a transaction dated 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 transaction, the senior vice president now directly owns 622 shares of the company's stock, valued at approximately $74,279.24. This represents a 63.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 113,429 shares of company stock valued at $13,618,028 over the last quarter. 1.50% of the stock is owned by insiders.

About The Hartford Financial Services Group

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.