Inceptionr LLC Grows Stake in The Hartford Financial Services Group, Inc. (NYSE:HIG)

Inceptionr LLC raised its stake in The Hartford Financial Services Group, Inc. (NYSE:HIG) by 180.2% during the 4th quarter, HoldingsChannel reports. The firm owned 9,483 shares of the insurance provider’s stock after acquiring an additional 6,099 shares during the quarter. Inceptionr LLC’s holdings in The Hartford Financial Services Group were worth $1,037,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. HighTower Advisors LLC grew its stake in shares of 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 valued at $13,063,000 after acquiring an additional 7,350 shares in the last quarter. Dai ichi Life Insurance Company Ltd grew its stake in shares of 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 valued at $16,172,000 after acquiring an additional 4,449 shares in the last quarter. Horizon Advisory Services Inc. acquired a new stake in shares of The Hartford Financial Services Group during the fourth quarter valued at about $277,000. Zurich Insurance Group Ltd FI acquired a new stake in shares of The Hartford Financial Services Group during the third quarter valued at about $19,005,000. Finally, Citigroup Inc. grew its stake in shares of 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 valued at $37,029,000 after acquiring an additional 10,566 shares in the last quarter. 93.42% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on HIG. Royal Bank of Canada restated 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. Keefe, Bruyette & Woods raised their target price 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. Barclays upgraded The Hartford Financial Services Group from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $130.00 to $135.00 in a research note on Monday, January 6th. StockNews.com downgraded The Hartford Financial Services Group from a “buy” rating to a “hold” rating in a research note on Tuesday, February 25th. Finally, BMO Capital Markets lifted 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. Ten analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $122.94.

The Hartford Financial Services Group Stock Performance

Shares of NYSE HIG opened at $116.70 on Friday. 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 firm’s 50-day moving average price is $112.31 and its two-hundred day moving average price is $114.66. The Hartford Financial Services Group, Inc. has a 52-week low of $94.47 and a 52-week high of $124.90. The stock has a market capitalization of $33.30 billion, a P/E ratio of 11.28, a P/E/G ratio of 1.12 and a beta of 0.97.

The Hartford Financial Services Group (NYSE:HIG) last released its quarterly earnings results on Thursday, January 30th. The insurance provider reported $2.94 earnings per share 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%. As a group, sell-side 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 firm also recently declared 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. The ex-dividend date is Monday, March 3rd. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.78%. The Hartford Financial Services Group’s dividend payout ratio (DPR) 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.