Citizens Financial Group Inc. RI Boosts Stock Position in The Hartford Financial Services Group, Inc. (NYSE:HIG)

Citizens Financial Group Inc. RI lifted its holdings in The Hartford Financial Services Group, Inc. (NYSE:HIG) by 9.1% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 7,905 shares of the insurance provider’s stock after purchasing an additional 662 shares during the quarter. Citizens Financial Group Inc. RI’s holdings in The Hartford Financial Services Group were worth $865,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of HIG. HighTower Advisors LLC boosted its stake in The Hartford Financial Services Group by 7.1% during the third quarter. HighTower Advisors LLC now owns 111,134 shares of the insurance provider’s stock worth $13,063,000 after buying an additional 7,350 shares during the period. Dai ichi Life Insurance Company Ltd boosted its stake in The Hartford Financial Services Group by 3.3% during the third quarter. Dai ichi Life Insurance Company Ltd now owns 137,506 shares of the insurance provider’s stock worth $16,172,000 after buying an additional 4,449 shares during the period. Horizon Advisory Services Inc. purchased a new position in The Hartford Financial Services Group during the fourth quarter worth $277,000. Zurich Insurance Group Ltd FI purchased a new position in The Hartford Financial Services Group during the third quarter worth $19,005,000. Finally, Citigroup Inc. boosted its stake in The Hartford Financial Services Group by 3.5% during the third quarter. Citigroup Inc. now owns 314,849 shares of the insurance provider’s stock worth $37,029,000 after buying an additional 10,566 shares during the period. 93.42% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have commented on HIG shares. Keefe, Bruyette & Woods lifted their price objective on shares of The Hartford Financial Services Group from $139.00 to $140.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 5th. StockNews.com raised shares of The Hartford Financial Services Group from a “hold” rating to a “buy” rating in a research note on Monday. BMO Capital Markets boosted their target price on shares of The Hartford Financial Services Group from $100.00 to $141.00 and gave the company a “market perform” rating in a research note on Wednesday, November 27th. Royal Bank of Canada reissued a “sector perform” rating and set a $125.00 target price on shares of The Hartford Financial Services Group in a research note on Monday, February 3rd. Finally, Wells Fargo & Company lowered their target price on shares of 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. Nine analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $122.94.

The Hartford Financial Services Group Stock Performance

Shares of The Hartford Financial Services Group stock opened at $115.82 on Thursday. The company has a market capitalization of $33.05 billion, a PE ratio of 11.19, a P/E/G ratio of 1.12 and a beta of 0.91. 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 company has a 50-day simple moving average of $112.91 and a two-hundred day simple moving average of $114.84. The Hartford Financial Services Group, Inc. has a one year low of $94.47 and a one year high of $124.90.

The Hartford Financial Services Group (NYSE:HIG) last announced its earnings results on Thursday, January 30th. The insurance provider reported $2.94 EPS for the quarter, topping analysts’ consensus estimates 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%. Research analysts expect that The Hartford Financial Services Group, Inc. will post 11.11 EPS for the current fiscal year.

The Hartford Financial Services Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 2nd. Shareholders 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 dividend on an annualized basis and a yield of 1.80%. The Hartford Financial Services Group’s dividend payout ratio is presently 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.