Marshall Wace LLP bought a new stake in shares of The Hartford Financial Services Group, Inc. (NYSE:HIG - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 95,987 shares of the insurance provider's stock, valued at approximately $10,501,000.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in HIG. Geode Capital Management LLC raised its position in shares of The Hartford Financial Services Group by 1.1% in the 4th quarter. Geode Capital Management LLC now owns 7,251,389 shares of the insurance provider's stock valued at $792,796,000 after purchasing an additional 81,495 shares during the last quarter. Victory Capital Management Inc. raised its holdings in shares of The Hartford Financial Services Group by 4.5% in the fourth quarter. Victory Capital Management Inc. now owns 4,701,675 shares of the insurance provider's stock worth $514,363,000 after buying an additional 202,487 shares during the last quarter. Nordea Investment Management AB lifted its position in The Hartford Financial Services Group by 17.3% during 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 period. Norges Bank purchased a new stake in The Hartford Financial Services Group in the fourth quarter valued at approximately $416,340,000. Finally, Massachusetts Financial Services Co. MA boosted its holdings in shares of The Hartford Financial Services Group by 0.7% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 3,448,982 shares of the insurance provider's stock valued at $377,319,000 after acquiring an additional 25,053 shares during the last quarter. 93.42% of the stock is currently owned by hedge funds and other institutional investors.
The Hartford Financial Services Group Stock Performance
Shares of HIG opened at $114.33 on Tuesday. The stock has a 50-day simple moving average of $117.14 and a 200-day simple moving average of $115.30. 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 1 year low of $94.47 and a 1 year high of $125.08. The stock has a market capitalization of $32.93 billion, a PE ratio of 11.05, a PEG ratio of 1.12 and a beta of 0.68.
The Hartford Financial Services Group (NYSE:HIG - Get Free Report) last posted its quarterly earnings results on Thursday, January 30th. The insurance provider reported $2.94 EPS for the quarter, topping 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%. On average, analysts predict 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 firm also recently declared a quarterly dividend, which was paid on Wednesday, April 2nd. Shareholders of record on Monday, March 3rd were paid a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 1.82%. The ex-dividend date of this dividend was Monday, March 3rd. The Hartford Financial Services Group's dividend payout ratio is presently 20.10%.
Insider Buying and Selling at The Hartford Financial Services Group
In other news, CEO Christopher Swift sold 1,144 shares of the company's stock in a transaction on Wednesday, April 2nd. The shares were 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 owns 211,082 shares in the company, valued at approximately $26,385,250. This represents a 0.54 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Robert W. Paiano sold 13,138 shares of The Hartford Financial Services Group stock in a transaction 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 owns 31,678 shares in the company, valued at $3,712,661.60. This represents a 29.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 112,343 shares of company stock worth $13,488,337 over the last ninety days. Corporate insiders own 1.60% of the company's stock.
Wall Street Analysts Forecast Growth
HIG has been the topic of a number of recent research reports. Keefe, Bruyette & Woods lowered 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 note on Wednesday, April 9th. Raymond James increased their price objective on shares of The Hartford Financial Services Group from $125.00 to $135.00 and gave the company an "outperform" rating in a report on Monday, March 31st. Royal Bank of Canada reaffirmed a "sector perform" rating and issued a $125.00 price target on shares of The Hartford Financial Services Group in a research note on Monday, February 3rd. Barclays increased their target price on shares of The Hartford Financial Services Group from $135.00 to $140.00 and gave the company an "overweight" rating in a research report on Friday, April 11th. Finally, JPMorgan Chase & Co. raised 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. Eight equities 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. According to MarketBeat, The Hartford Financial Services Group presently has an average rating of "Moderate Buy" and a consensus price target of $124.13.
Check Out Our Latest Research Report 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.
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