The Hartford Financial Services Group, Inc. (NYSE:HIG) Stake Cut by Xponance Inc.

Xponance Inc. reduced its holdings in The Hartford Financial Services Group, Inc. (NYSE:HIG) by 1.9% in the 4th quarter, Holdings Channel reports. The fund owned 46,223 shares of the insurance provider’s stock after selling 912 shares during the period. Xponance Inc.’s holdings in The Hartford Financial Services Group were worth $5,057,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in HIG. Thurston Springer Miller Herd & Titak Inc. raised its stake in shares of The Hartford Financial Services Group by 3,342.9% during the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 241 shares of the insurance provider’s stock worth $26,000 after purchasing an additional 234 shares in the last quarter. Barrett & Company Inc. raised its stake in shares of The Hartford Financial Services Group by 46.5% during the 4th quarter. Barrett & Company Inc. now owns 293 shares of the insurance provider’s stock worth $32,000 after purchasing an additional 93 shares in the last quarter. BNP Paribas purchased a new stake in shares of The Hartford Financial Services Group during the 3rd quarter worth about $35,000. DT Investment Partners LLC raised its stake in shares of The Hartford Financial Services Group by 49.8% during the 4th quarter. DT Investment Partners LLC now owns 331 shares of the insurance provider’s stock worth $36,000 after purchasing an additional 110 shares in the last quarter. Finally, Flagship Wealth Advisors LLC purchased a new stake in shares of The Hartford Financial Services Group during the 4th quarter worth about $36,000. 93.42% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at The Hartford Financial Services Group

In other news, EVP Robert W. Paiano sold 13,138 shares of The Hartford Financial Services Group stock in a transaction that occurred on Tuesday, March 11th. The stock was sold at an average price of $117.20, for a total transaction of $1,539,773.60. Following 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Christopher Swift sold 98,061 shares of The Hartford Financial Services Group stock in a transaction that occurred 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 sale, the chief executive officer now directly owns 211,082 shares in the company, valued at $25,412,161.98. The trade was a 31.72 % decrease in their position. The disclosure for this sale can be found here. 1.60% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. BMO Capital Markets raised 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 note on Wednesday, November 27th. 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 note on Monday, January 6th. Royal Bank of Canada reissued a “sector perform” rating and issued a $125.00 price objective on shares of The Hartford Financial Services Group in a research note on Monday, February 3rd. Keefe, Bruyette & Woods raised their price objective on The Hartford Financial Services Group from $139.00 to $140.00 and gave the company an “outperform” rating in a research note on Wednesday, February 5th. Finally, Wells Fargo & Company cut their price objective on The Hartford Financial Services Group from $130.00 to $126.00 and set an “overweight” rating on the stock in a research note on Monday, February 3rd. Ten equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $122.94.

The Hartford Financial Services Group Stock Performance

HIG opened at $119.73 on Thursday. The firm has a market capitalization of $34.17 billion, a P/E ratio of 11.57, a price-to-earnings-growth ratio of 1.12 and a beta of 0.91. The stock’s 50 day moving average price is $113.89 and its two-hundred day moving average price is $114.99. The company has a quick ratio of 0.32, a current ratio of 0.32 and a debt-to-equity ratio of 0.27. The Hartford Financial Services Group, Inc. has a 12-month low of $94.47 and a 12-month high of $124.90.

The Hartford Financial Services Group (NYSE:HIG) last released its earnings results on Thursday, January 30th. The insurance provider reported $2.94 earnings per share (EPS) for the quarter, beating 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 forecast that The Hartford Financial Services Group, Inc. will post 11.11 earnings per share for the current year.

The Hartford Financial Services Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 2nd. Stockholders of record on Monday, March 3rd will be issued a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 1.74%. The ex-dividend date is Monday, March 3rd. The Hartford Financial Services Group’s payout ratio is presently 20.10%.

The Hartford Financial Services Group Company 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.