Swiss National Bank Sells 51,000 Shares of The Hartford Financial Services Group, Inc. (NYSE:HIG)

Swiss National Bank lowered its position in The Hartford Financial Services Group, Inc. (NYSE:HIG) by 5.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 827,800 shares of the insurance provider’s stock after selling 51,000 shares during the quarter. Swiss National Bank’s holdings in The Hartford Financial Services Group were worth $90,561,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in HIG. Connor Clark & Lunn Investment Management Ltd. bought a new position in The Hartford Financial Services Group in the 4th quarter worth about $5,975,000. Jupiter Asset Management Ltd. raised its stake in The Hartford Financial Services Group by 13.0% in the fourth quarter. Jupiter Asset Management Ltd. now owns 550,364 shares of the insurance provider’s stock valued at $60,210,000 after purchasing an additional 63,529 shares in the last quarter. Great Lakes Advisors LLC lifted its position in The Hartford Financial Services Group by 2.5% during the fourth quarter. Great Lakes Advisors LLC now owns 1,129,381 shares of the insurance provider’s stock valued at $123,554,000 after purchasing an additional 27,783 shares during the last quarter. EverSource Wealth Advisors LLC grew its stake in The Hartford Financial Services Group by 7.4% in the 4th quarter. EverSource Wealth Advisors LLC now owns 2,633 shares of the insurance provider’s stock worth $288,000 after buying an additional 182 shares in the last quarter. Finally, Sequoia Financial Advisors LLC increased its holdings in shares of The Hartford Financial Services Group by 16.7% in the 4th quarter. Sequoia Financial Advisors LLC now owns 13,611 shares of the insurance provider’s stock worth $1,489,000 after buying an additional 1,943 shares during the last quarter. Hedge funds and other institutional investors own 93.42% of the company’s stock.

The Hartford Financial Services Group Stock Performance

Shares of NYSE:HIG opened at $119.06 on Friday. The company has a current ratio of 0.32, a quick ratio of 0.32 and a debt-to-equity ratio of 0.27. The company has a 50-day moving average price of $113.25 and a 200-day moving average price of $114.90. The company has a market cap of $33.98 billion, a price-to-earnings ratio of 11.50, a price-to-earnings-growth ratio of 1.12 and a beta of 0.91. 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 quarterly earnings results on Thursday, January 30th. The insurance provider reported $2.94 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%. As a group, equities analysts anticipate that The Hartford Financial Services Group, Inc. will post 11.11 EPS for the current year.

The Hartford Financial Services Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 2nd. Investors of record on Monday, March 3rd will be issued a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 1.75%. The ex-dividend date of this dividend is Monday, March 3rd. The Hartford Financial Services Group’s dividend payout ratio (DPR) is currently 20.10%.

Insider Buying and Selling 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 dated Tuesday, March 11th. The shares were 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. The trade was a 29.32 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 1.60% of the company’s stock.

Analysts Set New Price Targets

HIG has been the subject of a number of research analyst reports. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $125.00 price objective on shares of The Hartford Financial Services Group in a report on Monday, February 3rd. Keefe, Bruyette & Woods upped their price objective on 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. Barclays raised The Hartford Financial Services Group from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $130.00 to $135.00 in a report on Monday, January 6th. Wells Fargo & Company cut their target price on 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. Finally, StockNews.com raised shares of The Hartford Financial Services Group from a “hold” rating to a “buy” rating in a research note on Monday, March 10th. Nine investment 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 MarketBeat, The Hartford Financial Services Group has an average rating of “Moderate Buy” and an average price target of $122.94.

The Hartford Financial Services Group 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.