The Hartford Financial Services Group, Inc. (NYSE:HIG) Shares Acquired by Daiwa Securities Group Inc.

Daiwa Securities Group Inc. grew its stake in The Hartford Financial Services Group, Inc. (NYSE:HIG) by 9.5% in the fourth quarter, Holdings Channel reports. The fund owned 29,273 shares of the insurance provider’s stock after purchasing an additional 2,539 shares during the period. Daiwa Securities Group Inc.’s holdings in The Hartford Financial Services Group were worth $2,352,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of HIG. GoalVest Advisory LLC increased its stake in shares of The Hartford Financial Services Group by 464.8% in the 4th quarter. GoalVest Advisory LLC now owns 305 shares of the insurance provider’s stock worth $25,000 after acquiring an additional 251 shares during the last quarter. Turtle Creek Wealth Advisors LLC acquired a new stake in shares of The Hartford Financial Services Group in the 4th quarter worth $26,000. CVA Family Office LLC acquired a new stake in shares of The Hartford Financial Services Group in the 4th quarter worth $27,000. Chilton Capital Management LLC acquired a new stake in shares of The Hartford Financial Services Group during the 4th quarter worth about $28,000. Finally, Selway Asset Management acquired a new stake in shares of The Hartford Financial Services Group during the 3rd quarter worth about $29,000. 93.42% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on HIG shares. UBS Group raised their price objective on The Hartford Financial Services Group from $100.00 to $107.00 and gave the stock a “buy” rating in a research report on Monday, February 5th. JPMorgan Chase & Co. raised their price objective on The Hartford Financial Services Group from $91.00 to $104.00 and gave the stock a “neutral” rating in a research report on Monday, April 8th. Keefe, Bruyette & Woods raised their price objective on The Hartford Financial Services Group from $114.00 to $120.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 10th. Morgan Stanley raised 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. Finally, Raymond James restated an “outperform” rating and set a $120.00 target price (up from $100.00) on shares of The Hartford Financial Services Group in a report on Monday, April 1st. Seven investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $105.56.

Insider Buying and Selling

In related 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 transaction 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 transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, CEO Christopher Swift sold 94,807 shares of the business’s stock in a transaction that occurred on Wednesday, January 24th. The stock was sold at an average price of $86.65, for a total transaction of $8,215,026.55. Following the completion of the sale, the chief executive officer now owns 170,180 shares in the company, valued at $14,746,097. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, 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 sale, 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. Insiders sold a total of 201,308 shares of company stock worth $18,356,153 over the last 90 days. 1.60% of the stock is owned by insiders.

The Hartford Financial Services Group Stock Performance

Shares of HIG opened at $98.95 on Monday. The stock has a 50-day simple moving average of $97.80 and a 200-day simple moving average of $85.47. 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 stock 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 Hartford Financial Services Group, Inc. has a 1 year low of $67.05 and a 1 year high of $103.64.

The Hartford Financial Services Group (NYSE:HIG) last announced its quarterly earnings data on Friday, February 2nd. The insurance provider reported $3.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.44 by $0.62. The business had revenue of $6.40 billion during the quarter, compared to analysts’ expectations of $5.84 billion. The Hartford Financial Services Group had a return on equity of 19.82% and a net margin of 10.21%. The business’s quarterly revenue was up 6.4% compared to the same quarter last year. During the same quarter last year, the business posted $2.31 EPS. On average, 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 Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 2nd. Investors of record on Monday, March 4th were paid 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 payout ratio is 23.53%.

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.