BlackRock Inc. lessened its holdings in shares of The Hartford Financial Services Group, Inc. (NYSE: HIG – Get Rating) by 4.1% during the fourth quarter, HoldingsChannel reports. The firm owned 25,991,605 shares of the insurance provider’s stock after selling 1,110,283 shares during the quarter. BlackRock Inc. owned 0.08% of The Hartford Financial Services Group worth $ 1,794,459,000 at the end of the most recent quarter.
Several other institutional investors have also modified their holdings of HIG. Bank of New York Mellon Corp lifted its stake in shares of The Hartford Financial Services Group by 28.8% during the 3rd quarter. Bank of New York Mellon Corp now owns 4,002,178 shares of the insurance provider’s stock worth $ 281,153,000 after purchasing an additional 893,852 shares during the period. Morgan Stanley increased its holdings in shares of The Hartford Financial Services Group by 89.0% during the 2nd quarter. Morgan Stanley now owns 1,458,772 shares of the insurance provider’s stock worth $ 90,401,000 after buying an additional 687,072 shares during the last quarter. Assenagon Asset Management SA increased its holdings in shares of The Hartford Financial Services Group by 1,619.4% during the 4th quarter. Assenagon Asset Management SA now owns 699,676 shares of the insurance provider’s stock worth $ 48,306,000 after buying an additional 658,982 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. increased its holdings in shares of The Hartford Financial Services Group by 57.0% during the 4th quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,802,153 shares of the insurance provider’s stock worth $ 124,421,000 after buying an additional 654,371 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its holdings in shares of The Hartford Financial Services Group by 2.8% during the 4th quarter. JPMorgan Chase & Co. now owns 18,973,835 shares of the insurance provider’s stock worth $ 1,309,954,000 after buying an additional 508,977 shares during the last quarter. 93.01% of the stock is currently owned by institutional investors.
NYSE: HIG opened at $ 64.35 on Monday. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.32 and a quick ratio of 0.32. The firm has a 50-day moving average of $ 70.81 and a two-hundred day moving average of $ 70.36. The stock has a market cap of $ 21.16 billion, a P / E ratio of 8.85, a PEG ratio of 1.32 and a beta of 0.97. The Hartford Financial Services Group, Inc. has a 1-year low of $ 59.86 and a 1-year high of $ 78.17.
The Hartford Financial Services Group (NYSE: HIG – Get Rating) last posted its quarterly earnings data on Thursday, April 28th. The insurance provider reported $ 1.66 earnings per share for the quarter, beating analysts’ consensus estimates of $ 1.56 by $ 0.10. The company had revenue of $ 5.39 billion during the quarter, compared to analysts’ expectations of $ 5.60 billion. The Hartford Financial Services Group had a net margin of 11.39% and a return on equity of 14.84%. The firm’s revenue for the quarter was up 1.8% on a year-over-year basis. During the same period in the prior year, the company posted $ 0.56 EPS. As a group, equities analysts expect that The Hartford Financial Services Group, Inc. will post 6.95 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 5th. Shareholders of record on Wednesday, June 1st will be given a $ 0.385 dividend. The ex-dividend date of this dividend is Tuesday, May 31st. This represents a $ 1.54 dividend on an annualized basis and a yield of 2.39%. The Hartford Financial Services Group’s payout ratio is currently 21.18%.
In other news, EVP Robert W. Paiano sold 8,510 shares of the stock in a transaction dated Monday, April 11th. The shares were sold at an average price of $ 75.00, for a total transaction of $ 638,250.00. Following the transaction, the executive vice president now owns 37,142 shares of the company stock, valued at $ 2,785,650. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Scott R. Lewis sold 5,000 shares of the stock in a transaction dated Monday, April 11th. The stock was sold at an average price of $ 75.00, for a total transaction of $ 375,000.00. Following the transaction, the senior vice president now directly owns 20,121 shares in the company, valued at approximately $ 1,509,075. The disclosure for this sale can be found here. Insiders have sold 122,597 shares of company stock worth $ 8,980,210 in the last ninety days. Corporate insiders own 1.80% of the company stock.
A number of analysts have recently commented on the company. Barclays upped their price target on The Hartford Financial Services Group from $ 85.00 to $ 86.00 and gave the stock an “overweight” rating in a report on Tuesday, April 12th. Credit Suisse Group upped their price target on The Hartford Financial Services Group from $ 93.00 to $ 104.00 and gave the stock an “outperform” rating in a report on Friday, June 3rd. Morgan Stanley dropped their price target on The Hartford Financial Services Group from $ 77.00 to $ 73.00 and set an “equal weight” rating for the company in a report on Monday, May 23rd. Raymond James increased their price target on The Hartford Financial Services Group from $ 80.00 to $ 85.00 in a report on Tuesday, May 3rd. Finally, StockNews.com started coverage on The Hartford Financial Services Group in a report on Thursday, March 31st. They issued a “buy” rating for the company. Four research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company stock. Based on data from MarketBeat, The Hartford Financial Services Group currently has a consensus rating of “Buy” and an average target price of $ 81.15.
About The Hartford Financial Services Group: (Get Rating)
The Hartford Financial Services Group, Inc provides insurance and financial services to individual and business customers in the United States, the United Kingdom, and internationally. Its Commercial Lines segment offers workers’ compensation, property, automobile, liability, umbrella, bond, marine, livestock, and reinsurance; and customized insurance products and risk management services, including professional liability, bond, surety, and specialty casualty coverages through regional offices, branches, sales and policyholder service centers, independent retail agents and brokers, wholesale agents, and reinsurance brokers.
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