Burney Co. Lowers Stock Holdings in The Hartford Financial Services Group, Inc. (NYSE:HIG)

Burney Co. decreased its position in The Hartford Financial Services Group, Inc. (NYSE:HIG - Free Report) by 33.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,710 shares of the insurance provider's stock after selling 2,885 shares during the quarter. Burney Co.'s holdings in The Hartford Financial Services Group were worth $625,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. DT Investment Partners LLC bought a new stake in The Hartford Financial Services Group in the third quarter worth about $26,000. Thurston Springer Miller Herd & Titak Inc. lifted its stake in The Hartford Financial Services Group by 3,342.9% in the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 241 shares of the insurance provider's stock valued at $26,000 after purchasing an additional 234 shares during the last quarter. Quest Partners LLC grew its holdings in The Hartford Financial Services Group by 2,750.0% during the second quarter. Quest Partners LLC now owns 285 shares of the insurance provider's stock valued at $29,000 after purchasing an additional 275 shares during the period. Clean Yield Group purchased a new stake in The Hartford Financial Services Group in the third quarter worth $33,000. Finally, BNP Paribas bought a new stake in shares of The Hartford Financial Services Group in the third quarter valued at approximately $35,000. Hedge funds and other institutional investors own 93.42% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on HIG. StockNews.com raised shares of The Hartford Financial Services Group from a "hold" rating to a "buy" rating in a research note on Friday, November 15th. Barclays raised shares of The Hartford Financial Services Group from an "equal weight" rating to an "overweight" rating and boosted their price objective for the stock from $130.00 to $135.00 in a research note on Monday, January 6th. UBS Group raised their target price on shares of The Hartford Financial Services Group from $134.00 to $135.00 and gave the company a "buy" rating in a research note on Tuesday, October 15th. BMO Capital Markets boosted 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 research report on Wednesday, November 27th. Finally, Jefferies Financial Group raised their price objective on The Hartford Financial Services Group from $113.00 to $127.00 and gave the company a "hold" rating in a research report on Wednesday, October 9th. Nine investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $122.28.

Insider Activity

In other news, EVP Adin M. Tooker sold 6,865 shares of the stock in a transaction on Friday, November 15th. The shares were sold at an average price of $117.04, for a total value of $803,479.60. Following the sale, the executive vice president now owns 25,820 shares in the company, valued at $3,021,972.80. This represents a 21.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 1.60% of the company's stock.

The Hartford Financial Services Group Stock Performance

Shares of The Hartford Financial Services Group stock traded down $0.52 during midday trading on Friday, hitting $111.96. The company had a trading volume of 1,211,283 shares, compared to its average volume of 1,262,612. The company has a fifty day simple moving average of $114.03 and a 200 day simple moving average of $112.57. The stock has a market cap of $32.45 billion, a price-to-earnings ratio of 11.22, a PEG ratio of 0.76 and a beta of 0.98. The company has a quick ratio of 0.32, a current ratio of 0.32 and a debt-to-equity ratio of 0.26. The Hartford Financial Services Group, Inc. has a 12-month low of $81.87 and a 12-month high of $124.90.

The Hartford Financial Services Group Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, January 3rd. Shareholders of record on Monday, December 2nd were paid a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 1.86%. The ex-dividend date of this dividend was Monday, December 2nd. This is an increase from The Hartford Financial Services Group's previous quarterly dividend of $0.47. The Hartford Financial Services Group's payout ratio is presently 20.84%.

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.