New Vernon Investment Management LLC Decreases Stake in The Hartford Financial Services Group, Inc. (NYSE:HIG)

New Vernon Investment Management LLC lowered its stake in shares of The Hartford Financial Services Group, Inc. (NYSE:HIG - Free Report) by 95.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,500 shares of the insurance provider's stock after selling 57,024 shares during the quarter. New Vernon Investment Management LLC's holdings in The Hartford Financial Services Group were worth $274,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in the business. Horizon Advisory Services Inc. acquired a new position in The Hartford Financial Services Group during the fourth quarter worth $277,000. Assenagon Asset Management S.A. raised its position in The Hartford Financial Services Group by 437.9% in the fourth quarter. Assenagon Asset Management S.A. now owns 871,318 shares of the insurance provider's stock worth $95,322,000 after acquiring an additional 709,324 shares in the last quarter. Victory Capital Management Inc. raised its position in 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 acquiring an additional 202,487 shares in the last quarter. Suncoast Equity Management purchased a new position in The Hartford Financial Services Group in the fourth quarter worth $311,000. Finally, Empowered Funds LLC raised its position in The Hartford Financial Services Group by 62.1% in the fourth quarter. Empowered Funds LLC now owns 28,622 shares of the insurance provider's stock worth $3,131,000 after acquiring an additional 10,964 shares in the last quarter. Hedge funds and other institutional investors own 93.42% of the company's stock.

The Hartford Financial Services Group Price Performance

The Hartford Financial Services Group stock traded up $1.79 during midday trading on Monday, reaching $120.55. 1,581,045 shares of the company were exchanged, compared to its average volume of 1,569,763. The company has a market capitalization of $34.72 billion, a price-to-earnings ratio of 11.65, a P/E/G ratio of 1.12 and a beta of 0.68. The firm's 50-day simple moving average is $117.66 and its 200-day simple moving average is $115.39. The Hartford Financial Services Group, Inc. has a 1 year low of $95.00 and a 1 year 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 Hartford Financial Services Group (NYSE:HIG - Get Free Report) last issued its quarterly earnings results on Thursday, April 24th. The insurance provider reported $2.20 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.15 by $0.05. The Hartford Financial Services Group had a return on equity of 19.55% and a net margin of 11.72%. The firm had revenue of $6.81 billion for the quarter, compared to analyst estimates of $6.97 billion. During the same period last year, the company earned $2.34 EPS. The firm's quarterly revenue was up 6.1% on a year-over-year basis. On average, analysts anticipate that The Hartford Financial Services Group, Inc. will post 11.11 EPS for the current 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 1.73%. The ex-dividend date of this dividend was Monday, March 3rd. The Hartford Financial Services Group's payout ratio is 20.10%.

Insiders Place Their Bets

In other The Hartford Financial Services Group news, CEO Christopher Swift sold 98,061 shares of the firm's stock in a transaction dated 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 sale, the chief executive officer now directly owns 211,082 shares of the company's stock, valued at approximately $25,412,161.98. This trade represents a 31.72 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Robert W. Paiano sold 13,138 shares of the firm's stock in a transaction dated Tuesday, March 11th. The stock was 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 directly owns 31,678 shares in the company, valued at approximately $3,712,661.60. The trade was a 29.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 112,343 shares of company stock valued at $13,488,337. Insiders own 1.60% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have issued reports on HIG. Keefe, Bruyette & Woods cut their price objective on The Hartford Financial Services Group from $140.00 to $133.00 and set an "outperform" rating for the company in a research report on Wednesday, April 9th. JPMorgan Chase & Co. increased their price objective on The Hartford Financial Services Group from $125.00 to $129.00 and gave the stock a "neutral" rating in a research report on Tuesday, April 8th. StockNews.com upgraded The Hartford Financial Services Group from a "hold" rating to a "buy" rating in a research report on Thursday, April 17th. Wells Fargo & Company dropped their price target on The Hartford Financial Services Group from $126.00 to $125.00 and set an "overweight" rating for the company in a research report on Thursday, April 10th. Finally, Royal Bank of Canada restated a "sector perform" rating and issued a $125.00 price target on shares of The Hartford Financial Services Group in a research report on Monday, February 3rd. Seven investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, The Hartford Financial Services Group presently has a consensus rating of "Moderate Buy" and a consensus price target of $126.87.

The Hartford Financial Services Group Profile

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.