Bahl & Gaynor Inc. Raises Stake in The Hartford Financial Services Group, Inc. (NYSE:HIG)

Bahl & Gaynor Inc. lifted its position in shares of The Hartford Financial Services Group, Inc. (NYSE:HIG - Free Report) by 8.5% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,457,147 shares of the insurance provider's stock after purchasing an additional 114,716 shares during the quarter. Bahl & Gaynor Inc. owned 0.50% of The Hartford Financial Services Group worth $159,412,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. HighTower Advisors LLC raised its position in shares of The Hartford Financial Services Group by 7.1% during the third quarter. HighTower Advisors LLC now owns 111,134 shares of the insurance provider's stock worth $13,063,000 after purchasing an additional 7,350 shares during the period. Dai ichi Life Insurance Company Ltd raised its position in shares of The Hartford Financial Services Group by 3.3% during the third quarter. Dai ichi Life Insurance Company Ltd now owns 137,506 shares of the insurance provider's stock worth $16,172,000 after purchasing an additional 4,449 shares during the period. Zurich Insurance Group Ltd FI acquired a new position in shares of The Hartford Financial Services Group during the third quarter worth approximately $19,005,000. Horizon Advisory Services Inc. acquired a new position in shares of The Hartford Financial Services Group during the fourth quarter worth approximately $277,000. Finally, Citigroup Inc. raised its position in shares of The Hartford Financial Services Group by 3.5% during the third quarter. Citigroup Inc. now owns 314,849 shares of the insurance provider's stock worth $37,029,000 after purchasing an additional 10,566 shares during the period. 93.42% of the stock is owned by institutional investors and hedge funds.

The Hartford Financial Services Group Stock Performance

Shares of HIG stock traded down $2.63 on Tuesday, hitting $117.14. 2,332,661 shares of the stock were exchanged, compared to its average volume of 1,768,343. 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 firm has a market capitalization of $33.43 billion, a PE ratio of 11.32, a P/E/G ratio of 1.12 and a beta of 0.97. The Hartford Financial Services Group, Inc. has a one year low of $94.47 and a one year high of $124.90. The firm's 50 day moving average is $112.05 and its two-hundred day moving average is $114.63.

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 earnings per share for the quarter, topping the consensus estimate of $2.68 by $0.26. The Hartford Financial Services Group had a return on equity of 19.55% and a net margin of 11.72%. Sell-side analysts expect 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 company also recently declared a quarterly dividend, which will be paid on Wednesday, April 2nd. Stockholders of record on Monday, March 3rd will be paid a dividend of $0.52 per share. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $2.08 annualized dividend and a dividend yield of 1.78%. The Hartford Financial Services Group's payout ratio is 20.10%.

Analyst Ratings Changes

Several brokerages recently issued reports on HIG. Royal Bank of Canada reiterated a "sector perform" rating and set a $125.00 price target on shares of The Hartford Financial Services Group in a report on Monday, February 3rd. Wells Fargo & Company decreased their price target on 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. Keefe, Bruyette & Woods upped their price target on The Hartford Financial Services Group from $139.00 to $140.00 and gave the stock an "outperform" rating in a report on Wednesday, February 5th. BMO Capital Markets upped their price target on The Hartford Financial Services Group from $100.00 to $141.00 and gave the stock a "market perform" rating in a report on Wednesday, November 27th. Finally, StockNews.com downgraded The Hartford Financial Services Group from a "buy" rating to a "hold" rating in a report on Tuesday, February 25th. Ten 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. Based on data from MarketBeat, The Hartford Financial Services Group has an average rating of "Moderate Buy" and a consensus target price of $122.94.

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.