Los Angeles Capital Management LLC Boosts Stake in The Hartford Financial Services Group, Inc. (NYSE:HIG)

Los Angeles Capital Management LLC boosted its holdings in The Hartford Financial Services Group, Inc. (NYSE:HIG) by 316.4% in the 4th quarter, HoldingsChannel reports. The fund owned 16,274 shares of the insurance provider’s stock after acquiring an additional 12,366 shares during the quarter. Los Angeles Capital Management LLC’s holdings in The Hartford Financial Services Group were worth $1,308,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Natixis Advisors L.P. lifted its position in shares of The Hartford Financial Services Group by 5.9% during the 4th quarter. Natixis Advisors L.P. now owns 472,651 shares of the insurance provider’s stock valued at $37,991,000 after acquiring an additional 26,178 shares during the period. First Trust Direct Indexing L.P. raised its holdings in The Hartford Financial Services Group by 27.3% during the fourth quarter. First Trust Direct Indexing L.P. now owns 5,556 shares of the insurance provider’s stock worth $447,000 after purchasing an additional 1,191 shares during the last quarter. Victory Capital Management Inc. boosted its position in The Hartford Financial Services Group by 2.1% during the fourth quarter. Victory Capital Management Inc. now owns 5,247,966 shares of the insurance provider’s stock worth $421,832,000 after purchasing an additional 105,799 shares in the last quarter. Naviter Wealth LLC grew its holdings in The Hartford Financial Services Group by 31.2% in the fourth quarter. Naviter Wealth LLC now owns 4,706 shares of the insurance provider’s stock valued at $381,000 after purchasing an additional 1,118 shares during the last quarter. Finally, Bluesphere Advisors LLC purchased a new position in shares of The Hartford Financial Services Group in the fourth quarter valued at $218,000. Institutional investors and hedge funds own 93.42% of the company’s stock.

The Hartford Financial Services Group Stock Performance

Shares of NYSE:HIG opened at $99.70 on Thursday. The company has a market cap of $29.49 billion, a P/E ratio of 11.33, a PEG ratio of 1.40 and a beta of 0.90. The business’s 50-day simple moving average is $98.96 and its 200 day simple moving average is $87.74. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.31 and a current ratio of 0.31. The Hartford Financial Services Group, Inc. has a one year low of $67.42 and a one year high of $103.64.

The Hartford Financial Services Group (NYSE:HIG) last issued its quarterly earnings data on Thursday, April 25th. The insurance provider reported $2.34 EPS for the quarter, missing analysts’ consensus estimates of $2.43 by ($0.09). The firm had revenue of $6.42 billion during the quarter, compared to analyst estimates of $6.51 billion. The Hartford Financial Services Group had a return on equity of 20.64% and a net margin of 10.87%. The business’s quarterly revenue was up 8.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.68 EPS. On average, sell-side analysts forecast that The Hartford Financial Services Group, Inc. will post 10.01 earnings per share for the current fiscal year.

The Hartford Financial Services Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 2nd. Shareholders of record on Monday, March 4th were paid a dividend of $0.47 per share. The ex-dividend date was Friday, March 1st. This represents a $1.88 dividend on an annualized basis and a yield of 1.89%. The Hartford Financial Services Group’s dividend payout ratio (DPR) is presently 21.36%.

Insiders Place Their Bets

In other news, CFO Beth Ann Costello sold 38,915 shares of the stock in a transaction that occurred on Tuesday, February 27th. The stock was sold at an average price of $95.42, for a total transaction of $3,713,269.30. Following the completion of the transaction, the chief financial officer now directly owns 69,169 shares in the company, valued at approximately $6,600,105.98. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other news, CFO Beth Ann Costello sold 38,915 shares of the company’s stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $95.42, for a total value of $3,713,269.30. Following the sale, the chief financial officer now owns 69,169 shares in the company, valued at approximately $6,600,105.98. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Robert W. Paiano sold 14,528 shares of The Hartford Financial Services Group stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $93.97, for a total value of $1,365,196.16. Following the completion of the transaction, the executive vice president now owns 46,792 shares of the company’s stock, valued at $4,397,044.24. The disclosure for this sale can be found here. Insiders have sold 90,169 shares of company stock worth $8,676,992 in the last three months. 1.60% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the stock. TD Cowen increased their price objective on shares of The Hartford Financial Services Group to $144.00 and gave the company a “buy” rating in a research note on Wednesday, April 3rd. Raymond James reiterated an “outperform” rating and set a $120.00 target price (up previously from $100.00) on shares of The Hartford Financial Services Group in a report on Monday, April 1st. Wells Fargo & Company cut their price target on The Hartford Financial Services Group from $117.00 to $111.00 and set an “overweight” rating for the company in a report on Monday, April 29th. UBS Group increased their price objective on The Hartford Financial Services Group from $100.00 to $107.00 and gave the company a “buy” rating in a research note on Monday, February 5th. Finally, Keefe, Bruyette & Woods boosted their target price on shares of The Hartford Financial Services Group from $114.00 to $120.00 and gave the company an “outperform” rating in a research note on Wednesday, April 10th. Seven investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, The Hartford Financial Services Group presently has a consensus rating of “Moderate Buy” and an average price target of $105.44.

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.