Barclays PLC cut its holdings in The Hartford Financial Services Group, Inc. (NYSE:HIG - Free Report) by 15.6% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,133,603 shares of the insurance provider's stock after selling 209,427 shares during the quarter. Barclays PLC owned 0.39% of The Hartford Financial Services Group worth $124,018,000 as of its most recent SEC filing.
A number of other institutional investors also recently modified their holdings of HIG. Thurston Springer Miller Herd & Titak Inc. grew its stake in shares of The Hartford Financial Services Group by 3,342.9% in the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 241 shares of the insurance provider's stock valued at $26,000 after buying an additional 234 shares during the period. Barrett & Company Inc. increased its holdings in shares of The Hartford Financial Services Group by 46.5% during the fourth quarter. Barrett & Company Inc. now owns 293 shares of the insurance provider's stock valued at $32,000 after acquiring an additional 93 shares in the last quarter. DT Investment Partners LLC raised its position in shares of The Hartford Financial Services Group by 49.8% during the fourth quarter. DT Investment Partners LLC now owns 331 shares of the insurance provider's stock worth $36,000 after purchasing an additional 110 shares during the period. Flagship Wealth Advisors LLC acquired a new stake 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 buying an additional 300 shares during the last quarter. Institutional investors and hedge funds own 93.42% of the company's stock.
Insider Activity at The Hartford Financial Services Group
In other news, CEO Christopher Swift sold 98,061 shares of the firm's stock in a transaction 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 owns 211,082 shares of the company's stock, valued at $25,412,161.98. This trade represents a 31.72 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Robert W. Paiano sold 13,138 shares of the stock in a transaction dated 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 of the company's stock, valued at approximately $3,712,661.60. This trade 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 valued at $13,488,337 over the last ninety days. 1.60% of the stock is owned by company insiders.
Analysts Set New Price Targets
A number of equities analysts have issued reports on the company. Raymond James lifted their price target 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. JPMorgan Chase & Co. increased their price objective on shares of The Hartford Financial Services Group from $125.00 to $129.00 and gave the company a "neutral" rating in a research note on Tuesday, April 8th. Keefe, Bruyette & Woods reduced their target price on The Hartford Financial Services Group from $140.00 to $133.00 and set an "outperform" rating for the company in a report on Wednesday, April 9th. Barclays boosted their price objective on The Hartford Financial Services Group from $135.00 to $140.00 and gave the stock an "overweight" rating in a research report on Friday, April 11th. Finally, Wells Fargo & Company cut their price target on shares of The Hartford Financial Services Group from $126.00 to $125.00 and set an "overweight" rating on the stock in a report on Thursday, April 10th. Eight research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, The Hartford Financial Services Group presently has a consensus rating of "Moderate Buy" and an average target price of $124.13.
Read Our Latest Stock Analysis on HIG
The Hartford Financial Services Group Price Performance
Shares of HIG traded up $0.69 during mid-day trading on Friday, hitting $117.84. 1,403,365 shares of the stock were exchanged, compared to its average volume of 1,578,707. The firm has a 50-day moving average of $117.07 and a two-hundred day moving average of $115.35. The Hartford Financial Services Group, Inc. has a 52-week low of $94.47 and a 52-week high of $125.08. 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 has a market cap of $33.94 billion, a PE ratio of 11.39, a price-to-earnings-growth ratio of 1.12 and a beta of 0.68.
The Hartford Financial Services Group (NYSE:HIG - Get Free Report) last issued its quarterly earnings results on Thursday, January 30th. The insurance provider reported $2.94 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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%. On average, equities analysts predict that The Hartford Financial Services Group, Inc. will post 11.11 earnings per share 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. Stockholders of record on Monday, March 3rd were paid a dividend of $0.52 per share. The ex-dividend date was Monday, March 3rd. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.77%. The Hartford Financial Services Group's dividend payout ratio is presently 20.10%.
The Hartford Financial Services Group Profile
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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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