Adage Capital Partners GP L.L.C. lowered its holdings in shares of The Hartford Financial Services Group, Inc. (NYSE:HIG - Free Report) by 41.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 470,832 shares of the insurance provider's stock after selling 330,400 shares during the period. Adage Capital Partners GP L.L.C. owned 0.16% of The Hartford Financial Services Group worth $51,509,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Thurston Springer Miller Herd & Titak Inc. boosted its stake in shares of The Hartford Financial Services Group by 3,342.9% during the fourth 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 period. Barrett & Company Inc. raised its stake in The Hartford Financial Services Group by 46.5% during the 4th quarter. Barrett & Company Inc. now owns 293 shares of the insurance provider's stock valued at $32,000 after acquiring an additional 93 shares during the last quarter. DT Investment Partners LLC lifted its position in The Hartford Financial Services Group by 49.8% during 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 period. Flagship Wealth Advisors LLC purchased a new position in The Hartford Financial Services Group in the 4th quarter valued at $36,000. Finally, Key Financial Inc raised its holdings 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 purchasing an additional 300 shares in the last quarter. 93.42% of the stock is owned by hedge funds and other institutional investors.
Insider Transactions at The Hartford Financial Services Group
In other The Hartford Financial Services Group news, EVP Robert W. Paiano sold 13,138 shares of the stock in a transaction that occurred 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 transaction, the executive vice president now owns 31,678 shares of the company's stock, valued at $3,712,661.60. This trade represents a 29.32 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Christopher Swift sold 98,061 shares of the firm's stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $120.39, for a total value of $11,805,563.79. Following the completion of the sale, the chief executive officer now directly owns 211,082 shares in the company, valued at approximately $25,412,161.98. This trade represents a 31.72 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 112,343 shares of company stock valued at $13,488,337. 1.60% of the stock is currently owned by corporate insiders.
The Hartford Financial Services Group Trading Up 1.5 %
Shares of The Hartford Financial Services Group stock traded up $1.79 during trading hours on Monday, reaching $120.55. 1,581,045 shares of the company's stock were exchanged, compared to its average volume of 1,569,763. The firm has a market capitalization of $34.72 billion, a price-to-earnings ratio of 11.65, a price-to-earnings-growth ratio of 1.12 and a beta of 0.68. The Hartford Financial Services Group, Inc. has a 52-week low of $95.00 and a 52-week high of $125.08. 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 company has a fifty day moving average of $117.66 and a 200-day moving average of $115.39.
The Hartford Financial Services Group (NYSE:HIG - Get Free Report) last announced its quarterly earnings results on Thursday, April 24th. The insurance provider reported $2.20 earnings per share for the quarter, beating analysts' consensus estimates of $2.15 by $0.05. The company had revenue of $6.81 billion for the quarter, compared to analyst estimates 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 Hartford Financial Services Group's revenue for the quarter was up 6.1% on a year-over-year basis. During the same quarter last year, the business earned $2.34 EPS. Sell-side analysts forecast that The Hartford Financial Services Group, Inc. will post 11.11 EPS for the current fiscal year.
The Hartford Financial Services Group Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 2nd. Stockholders of record on Monday, March 3rd were paid a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 1.73%. The ex-dividend date of this dividend was Monday, March 3rd. The Hartford Financial Services Group's dividend payout ratio (DPR) is currently 20.10%.
Analyst Ratings Changes
A number of brokerages recently weighed in on HIG. UBS Group upped their price objective on The Hartford Financial Services Group from $139.00 to $142.00 and gave the stock a "buy" rating in a report on Monday. JPMorgan Chase & Co. boosted their price objective on shares of The Hartford Financial Services Group from $125.00 to $129.00 and gave the stock a "neutral" rating in a report on Tuesday, April 8th. Royal Bank of Canada restated a "sector perform" rating and set a $125.00 target price on shares of The Hartford Financial Services Group in a research report on Monday, February 3rd. Jefferies Financial Group decreased 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, Raymond James raised their price objective on The Hartford Financial Services Group from $125.00 to $135.00 and gave the company an "outperform" rating in a research note on Monday, March 31st. Seven investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $126.87.
Get Our Latest Analysis 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.
Further Reading
Before you consider The Hartford Financial Services Group, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and The Hartford Financial Services Group wasn't on the list.
While The Hartford Financial Services Group currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Enter your email address and we'll send you MarketBeat's list of seven stocks and why their long-term outlooks are very promising.
Get This Free Report
