Schroder Investment Management Group Has $97.10 Million Stock Holdings in The Hartford Financial Services Group, Inc. (NYSE:HIG)

Schroder Investment Management Group grew its stake in The Hartford Financial Services Group, Inc. (NYSE:HIG - Free Report) by 45.4% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 888,632 shares of the insurance provider's stock after purchasing an additional 277,379 shares during the period. Schroder Investment Management Group owned about 0.31% of The Hartford Financial Services Group worth $97,101,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in HIG. Norges Bank acquired a new stake in shares of The Hartford Financial Services Group during the 4th quarter valued at about $416,340,000. AustralianSuper Pty Ltd increased its holdings in shares of The Hartford Financial Services Group by 265.5% in the fourth quarter. AustralianSuper Pty Ltd now owns 1,213,074 shares of the insurance provider's stock valued at $132,710,000 after purchasing an additional 881,224 shares in the last quarter. Assenagon Asset Management S.A. increased 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 purchasing an additional 709,324 shares during the period. Proficio Capital Partners LLC raised its position in shares of The Hartford Financial Services Group by 11,904.7% during the 4th quarter. Proficio Capital Partners LLC now owns 631,565 shares of the insurance provider's stock valued at $632,000 after acquiring an additional 626,304 shares during the last quarter. Finally, Raymond James Financial Inc. acquired a new position in The Hartford Financial Services Group in the fourth quarter valued at about $65,256,000. 93.42% of the stock is currently owned by institutional investors.

Remove Ads

Insiders Place Their Bets

In other news, 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 transaction, the executive vice president now owns 31,678 shares of the company's stock, valued at approximately $3,712,661.60. This represents a 29.32 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Christopher Swift sold 98,061 shares of the company'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 transaction of $11,805,563.79. Following the transaction, the chief executive officer now owns 211,082 shares of the company's stock, valued at approximately $25,412,161.98. This represents a 31.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.60% of the company's stock.

Wall Street Analyst Weigh In

HIG has been the topic of several recent analyst reports. Raymond James lifted their price objective on shares of The Hartford Financial Services Group from $125.00 to $135.00 and gave the stock an "outperform" rating in a research note on Monday. Royal Bank of Canada reaffirmed a "sector perform" rating and set a $125.00 price objective on shares of The Hartford Financial Services Group in a research note on Monday, February 3rd. Wells Fargo & Company decreased their target price on The Hartford Financial Services Group from $130.00 to $126.00 and set an "overweight" rating for the company in a research note on Monday, February 3rd. Barclays raised The Hartford Financial Services Group from an "equal weight" rating to an "overweight" rating and raised their price target for the stock from $130.00 to $135.00 in a research report on Monday, January 6th. Finally, Keefe, Bruyette & Woods raised their target price on shares of 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. Ten equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $123.47.

The Hartford Financial Services Group Stock Down 5.7 %

HIG stock traded down $7.10 during mid-day trading on Friday, reaching $116.35. The company had a trading volume of 584,914 shares, compared to its average volume of 1,574,772. The company has a market capitalization of $33.20 billion, a price-to-earnings ratio of 11.29, a PEG ratio of 1.12 and a beta of 0.91. The Hartford Financial Services Group, Inc. has a 52 week low of $94.47 and a 52 week high of $125.08. The stock has a 50 day simple moving average of $116.52 and a two-hundred day simple moving average of $115.51. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.32 and a quick ratio of 0.32.

The Hartford Financial Services Group (NYSE:HIG - Get Free Report) last released its quarterly earnings results on Thursday, January 30th. The insurance provider reported $2.94 earnings per share (EPS) for the quarter, beating 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%. As a group, equities 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 Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 2nd. Shareholders of record on Monday, March 3rd were given a dividend of $0.52 per share. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $2.08 annualized dividend and a yield of 1.79%. The Hartford Financial Services Group's dividend payout ratio is currently 20.10%.

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.