Mystic Asset Management Inc. Makes New $1.42 Million Investment in The Hartford Financial Services Group, Inc. (NYSE:HIG)

Mystic Asset Management Inc. purchased a new stake in The Hartford Financial Services Group, Inc. (NYSE:HIG) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 12,953 shares of the insurance provider’s stock, valued at approximately $1,417,000.

Other institutional investors also recently modified their holdings of the company. Flagship Wealth Advisors LLC bought a new stake in The Hartford Financial Services Group during the 4th quarter valued at $36,000. TCTC Holdings LLC boosted its holdings in shares of The Hartford Financial Services Group by 49.5% in the fourth quarter. TCTC Holdings LLC now owns 719 shares of the insurance provider’s stock worth $79,000 after acquiring an additional 238 shares during the period. Parallel Advisors LLC raised its stake in shares of The Hartford Financial Services Group by 1.0% during the 4th quarter. Parallel Advisors LLC now owns 17,239 shares of the insurance provider’s stock valued at $1,886,000 after purchasing an additional 164 shares during the period. Gitterman Wealth Management LLC raised its stake in shares of The Hartford Financial Services Group by 6.7% during the 4th quarter. Gitterman Wealth Management LLC now owns 2,875 shares of the insurance provider’s stock valued at $315,000 after purchasing an additional 180 shares during the period. Finally, Frank Rimerman Advisors LLC lifted its holdings in The Hartford Financial Services Group by 18.4% during the 4th quarter. Frank Rimerman Advisors LLC now owns 2,936 shares of the insurance provider’s stock worth $321,000 after purchasing an additional 457 shares in the last quarter. 93.42% of the stock is currently owned by hedge funds and other institutional investors.

The Hartford Financial Services Group Stock Up 1.3 %

Shares of NYSE HIG opened at $120.48 on Tuesday. The stock has a market capitalization of $34.38 billion, a P/E ratio of 11.64, a PEG ratio of 1.12 and a beta of 0.91. The Hartford Financial Services Group, Inc. has a one year low of $94.47 and a one year high of $124.90. The firm’s 50 day simple moving average is $113.49 and its two-hundred day simple moving average is $114.94. 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) last released its earnings results on Thursday, January 30th. The insurance provider reported $2.94 EPS for the quarter, beating the consensus estimate of $2.68 by $0.26. The Hartford Financial Services Group had a net margin of 11.72% and a return on equity of 19.55%. As a group, analysts expect that The Hartford Financial Services Group, Inc. will post 11.11 EPS for the current fiscal year.

The Hartford Financial Services Group Announces Dividend

The business 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 $0.52 dividend. The ex-dividend date is Monday, March 3rd. This represents a $2.08 annualized dividend and a dividend yield of 1.73%. The Hartford Financial Services Group’s dividend payout ratio is currently 20.10%.

Insider Activity

In other The Hartford Financial Services Group 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 value of $1,539,773.60. Following the transaction, the executive vice president now directly owns 31,678 shares of the company’s stock, valued at $3,712,661.60. The trade was a 29.32 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 1.60% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several brokerages have recently weighed in on HIG. Wells Fargo & Company decreased their price target on The Hartford Financial Services Group from $130.00 to $126.00 and set an “overweight” rating on the stock in a research report on Monday, February 3rd. BMO Capital Markets increased their target price on shares of 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. Royal Bank of Canada reissued a “sector perform” rating and issued a $125.00 price target on shares of The Hartford Financial Services Group in a report on Monday, February 3rd. Keefe, Bruyette & Woods upped their price target 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. Finally, StockNews.com lowered The Hartford Financial Services Group from a “buy” rating to a “hold” rating in a research note on Tuesday. Ten research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $122.94.

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.