Suncoast Equity Management Buys New Shares in The Hartford Financial Services Group, Inc. (NYSE:HIG)

Suncoast Equity Management purchased a new position in shares of The Hartford Financial Services Group, Inc. (NYSE:HIG - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 2,843 shares of the insurance provider's stock, valued at approximately $311,000.

A number of other hedge funds have also added to or reduced their stakes in the company. DT Investment Partners LLC acquired a new stake in shares of The Hartford Financial Services Group in the 3rd quarter valued at $26,000. Thurston Springer Miller Herd & Titak Inc. lifted its position in shares of The Hartford Financial Services Group by 3,342.9% during the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 241 shares of the insurance provider's stock worth $26,000 after buying an additional 234 shares during the last quarter. Barrett & Company Inc. boosted its stake in The Hartford Financial Services Group by 46.5% in the fourth quarter. Barrett & Company Inc. now owns 293 shares of the insurance provider's stock valued at $32,000 after buying an additional 93 shares in the last quarter. BNP Paribas bought a new position in The Hartford Financial Services Group in the third quarter valued at about $35,000. Finally, Key Financial Inc raised its stake in The Hartford Financial Services Group by 526.3% during the fourth quarter. Key Financial Inc now owns 357 shares of the insurance provider's stock worth $39,000 after acquiring an additional 300 shares in the last quarter. 93.42% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on HIG. Barclays upgraded shares of The Hartford Financial Services Group from an "equal weight" rating to an "overweight" rating and raised their price target for the company from $130.00 to $135.00 in a research note on Monday, January 6th. Royal Bank of Canada restated a "sector perform" rating and issued a $125.00 target price on shares of The Hartford Financial Services Group in a research report on Monday, February 3rd. Wells Fargo & Company lowered their price target on shares of The Hartford Financial Services Group from $130.00 to $126.00 and set an "overweight" rating for the company in a report on Monday, February 3rd. BMO Capital Markets raised their price objective on The Hartford Financial Services Group from $100.00 to $141.00 and gave the company a "market perform" rating in a report on Wednesday, November 27th. Finally, Keefe, Bruyette & Woods boosted their price objective on The Hartford Financial Services Group from $139.00 to $140.00 and gave the stock an "outperform" rating in a research report on Wednesday, February 5th. Nine equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, The Hartford Financial Services Group presently has an average rating of "Moderate Buy" and an average target price of $122.94.

The Hartford Financial Services Group Trading Up 2.1 %

Shares of NYSE HIG traded up $2.44 during midday trading on Tuesday, reaching $116.26. The stock had a trading volume of 549,137 shares, compared to its average volume of 1,646,888. The Hartford Financial Services Group, Inc. has a twelve month low of $94.32 and a twelve month high of $124.90. 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 company's 50 day moving average price is $111.01 and its 200 day moving average price is $114.27. The firm has a market cap of $33.70 billion, a price-to-earnings ratio of 11.19, a price-to-earnings-growth ratio of 1.12 and a beta of 0.97.

The Hartford Financial Services Group (NYSE:HIG - Get Free Report) last released its earnings results on Thursday, January 30th. The insurance provider reported $2.94 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.68 by $0.26. The Hartford Financial Services Group had a net margin of 11.72% and a return on equity of 19.55%. As a group, sell-side analysts expect 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 announced a quarterly dividend, which will be paid on Wednesday, April 2nd. Investors of record on Monday, March 3rd will be paid a dividend of $0.52 per share. The ex-dividend date is Monday, March 3rd. This represents a $2.08 annualized dividend and a yield of 1.79%. The Hartford Financial Services Group's dividend payout ratio is currently 20.10%.

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.