Mackenzie Financial Corp Sells 210,023 Shares of The Hartford Financial Services Group, Inc. (NYSE:HIG)

Mackenzie Financial Corp reduced its stake in The Hartford Financial Services Group, Inc. (NYSE:HIG) by 80.1% during the fourth quarter, HoldingsChannel.com reports. The firm owned 52,270 shares of the insurance provider’s stock after selling 210,023 shares during the quarter. Mackenzie Financial Corp’s holdings in The Hartford Financial Services Group were worth $4,201,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. McGlone Suttner Wealth Management Inc. raised its holdings in The Hartford Financial Services Group by 11.7% in the 4th quarter. McGlone Suttner Wealth Management Inc. now owns 3,165 shares of the insurance provider’s stock worth $254,000 after acquiring an additional 331 shares during the last quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH purchased a new position in The Hartford Financial Services Group in the 4th quarter worth approximately $2,875,000. New Millennium Group LLC purchased a new position in The Hartford Financial Services Group in the 4th quarter worth approximately $1,552,000. SteelPeak Wealth LLC purchased a new position in The Hartford Financial Services Group in the 4th quarter worth approximately $1,691,000. Finally, Cerity Partners LLC raised its holdings in The Hartford Financial Services Group by 19.8% in the 4th quarter. Cerity Partners LLC now owns 49,614 shares of the insurance provider’s stock worth $4,003,000 after acquiring an additional 8,203 shares during the last quarter. 93.42% of the stock is currently owned by hedge funds and other institutional investors.

The Hartford Financial Services Group Trading Up 2.1 %

Shares of HIG stock opened at $98.95 on Monday. The Hartford Financial Services Group, Inc. has a 52-week low of $67.05 and a 52-week high of $103.64. 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 firm has a market capitalization of $29.42 billion, a PE ratio of 12.38, a PEG ratio of 1.40 and a beta of 0.89. The stock has a fifty day simple moving average of $97.80 and a two-hundred day simple moving average of $85.47.

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

The Hartford Financial Services Group Dividend Announcement

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

Insiders Place Their Bets

In other news, EVP Adin M. Tooker sold 8,206 shares of the firm’s stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $95.60, for a total transaction of $784,493.60. Following the completion of the transaction, the executive vice president now owns 25,820 shares in the company, valued at $2,468,392. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, EVP Adin M. Tooker sold 8,206 shares of the firm’s stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $95.60, for a total transaction of $784,493.60. Following the completion of the transaction, the executive vice president now owns 25,820 shares in the company, valued at $2,468,392. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Michael R. Fisher sold 27,004 shares of the firm’s stock in a transaction dated 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 of the company’s stock, valued at approximately $1,869,803.40. The disclosure for this sale can be found here. In the last quarter, insiders sold 201,308 shares of company stock worth $18,356,153. Corporate insiders own 1.60% of the company’s stock.

Wall Street Analyst Weigh In

HIG has been the subject of a number of recent analyst reports. Evercore ISI boosted their price objective on shares of The Hartford Financial Services Group from $96.00 to $104.00 and gave the stock an “in-line” rating in a report on Thursday, April 11th. Royal Bank of Canada increased their price target on The Hartford Financial Services Group from $77.00 to $95.00 and gave the company a “sector perform” rating in a report on Monday, February 5th. Morgan Stanley increased their price target on The Hartford Financial Services Group from $94.00 to $110.00 and gave the company an “equal weight” rating in a report on Monday, April 15th. TD Cowen increased their price target on The Hartford Financial Services Group to $144.00 and gave the company a “buy” rating in a report on Wednesday, April 3rd. Finally, Roth Mkm increased their price target on The Hartford Financial Services Group from $80.00 to $90.00 and gave the company a “neutral” rating in a report on Friday, February 2nd. Seven equities research 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 has a consensus rating of “Moderate Buy” and a consensus target price of $105.56.

The Hartford Financial Services Group Company 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.