Simplicity Solutions LLC Increases Stake in The Hartford Financial Services Group, Inc. (NYSE:HIG)

Simplicity Solutions LLC raised its holdings in shares of The Hartford Financial Services Group, Inc. (NYSE:HIG) by 3.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 5,164 shares of the insurance provider’s stock after purchasing an additional 168 shares during the quarter. Simplicity Solutions LLC’s holdings in The Hartford Financial Services Group were worth $415,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Norges Bank bought a new stake in shares of The Hartford Financial Services Group during the 4th quarter valued at $277,618,000. Moneta Group Investment Advisors LLC purchased a new position in The Hartford Financial Services Group during the 4th quarter valued at about $215,742,000. Victory Capital Management Inc. increased its position in shares of The Hartford Financial Services Group by 26.7% during the third quarter. Victory Capital Management Inc. now owns 5,142,167 shares of the insurance provider’s stock valued at $364,631,000 after buying an additional 1,083,420 shares during the period. Schonfeld Strategic Advisors LLC lifted its holdings in shares of The Hartford Financial Services Group by 324.6% in the first quarter. Schonfeld Strategic Advisors LLC now owns 938,693 shares of the insurance provider’s stock worth $65,418,000 after buying an additional 717,613 shares in the last quarter. Finally, Renaissance Technologies LLC lifted its holdings in shares of The Hartford Financial Services Group by 722.9% in the first quarter. Renaissance Technologies LLC now owns 757,100 shares of the insurance provider’s stock worth $54,367,000 after buying an additional 665,100 shares in the last quarter. Institutional investors own 93.42% of the company’s stock.

The Hartford Financial Services Group Trading Up 2.1 %

HIG stock opened at $98.95 on Friday. The company has a market capitalization of $29.42 billion, a PE ratio of 12.38, a price-to-earnings-growth ratio of 1.35 and a beta of 0.89. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.32 and a current ratio of 0.32. The Hartford Financial Services Group, Inc. has a one year low of $67.05 and a one year high of $103.64. The company’s 50 day moving average price is $97.80 and its two-hundred day moving average price is $85.25.

The Hartford Financial Services Group (NYSE:HIG) last issued its earnings results on Friday, February 2nd. The insurance provider reported $3.06 EPS for the quarter, topping analysts’ consensus estimates of $2.44 by $0.62. The Hartford Financial Services Group had a net margin of 10.21% and a return on equity of 19.82%. The company had revenue of $6.40 billion for the quarter, compared to analysts’ expectations of $5.84 billion. During the same quarter last year, the company earned $2.31 EPS. The firm’s revenue was up 6.4% compared to the same quarter last year. As a group, analysts predict that The Hartford Financial Services Group, Inc. will post 10.13 earnings per share for the current fiscal year.

The Hartford Financial Services Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 2nd. Investors of record on Monday, March 4th were issued a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a yield of 1.90%. The ex-dividend date of this dividend was Friday, March 1st. The Hartford Financial Services Group’s dividend payout ratio is presently 23.53%.

Analysts Set New Price Targets

Several brokerages recently commented on HIG. Wells Fargo & Company boosted their price objective on shares of The Hartford Financial Services Group from $106.00 to $117.00 and gave the company an “overweight” rating in a research note on Thursday, April 11th. Citigroup boosted their price target on shares of The Hartford Financial Services Group from $109.00 to $113.00 and gave the company a “buy” rating in a research report on Tuesday. Morgan Stanley increased their price objective on The Hartford Financial Services Group from $94.00 to $110.00 and gave the stock an “equal weight” rating in a research report on Monday, April 15th. Evercore ISI boosted their target price on The Hartford Financial Services Group from $96.00 to $104.00 and gave the stock an “in-line” rating in a research report on Thursday, April 11th. Finally, The Goldman Sachs Group upped their target price on The Hartford Financial Services Group from $92.00 to $105.00 and gave the stock a “buy” rating in a research note on Friday, April 12th. Seven investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, The Hartford Financial Services Group presently has a consensus rating of “Moderate Buy” and an average price target of $105.56.

Insider Buying and Selling

In other The Hartford Financial Services Group news, EVP Michael R. Fisher sold 27,004 shares of the business’s stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $98.90, for a total value of $2,670,695.60. Following the completion of the sale, the executive vice president now owns 18,906 shares in the company, valued at $1,869,803.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, EVP Michael R. Fisher sold 27,004 shares of the firm’s stock in a transaction that occurred on Wednesday, March 13th. The shares were sold at an average price of $98.90, for a total value of $2,670,695.60. Following the transaction, the executive vice president now owns 18,906 shares in the company, valued at $1,869,803.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Christopher Swift sold 956 shares of The Hartford Financial Services Group stock in a transaction on Monday, January 22nd. The stock was sold at an average price of $86.00, for a total transaction of $82,216.00. Following the completion of the transaction, the chief executive officer now directly owns 170,180 shares in the company, valued at $14,635,480. The disclosure for this sale can be found here. Insiders have sold a total of 202,264 shares of company stock worth $18,438,369 in the last ninety days. 1.60% of the stock is owned by insiders.

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.