Spire Wealth Management Lowers Stock Holdings in The Hartford Financial Services Group, Inc. (NYSE:HIG)

Spire Wealth Management cut its holdings in shares of The Hartford Financial Services Group, Inc. (NYSE:HIG) by 76.3% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 4,096 shares of the insurance provider’s stock after selling 13,201 shares during the quarter. Spire Wealth Management’s holdings in The Hartford Financial Services Group were worth $448,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the business. Tokio Marine Asset Management Co. Ltd. lifted its holdings in shares of The Hartford Financial Services Group by 4.2% during the 4th quarter. Tokio Marine Asset Management Co. Ltd. now owns 8,532 shares of the insurance provider’s stock worth $933,000 after acquiring an additional 342 shares during the period. Caprock Group LLC acquired a new position in The Hartford Financial Services Group during the fourth quarter worth approximately $4,341,000. Mediolanum International Funds Ltd purchased a new position in The Hartford Financial Services Group during the fourth quarter worth approximately $825,000. OLD National Bancorp IN boosted its holdings in shares of The Hartford Financial Services Group by 6.7% in the 4th quarter. OLD National Bancorp IN now owns 3,657 shares of the insurance provider’s stock valued at $400,000 after purchasing an additional 229 shares during the last quarter. Finally, DMC Group LLC grew its stake in shares of The Hartford Financial Services Group by 110.8% during the 4th quarter. DMC Group LLC now owns 3,639 shares of the insurance provider’s stock valued at $398,000 after buying an additional 1,913 shares during the period. 93.42% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts recently weighed in on HIG shares. UBS Group increased their target price on The Hartford Financial Services Group from $134.00 to $135.00 and gave the stock a “buy” rating in a research report on Tuesday, October 15th. StockNews.com upgraded The Hartford Financial Services Group from a “hold” rating to a “buy” rating in a report on Friday, November 15th. JPMorgan Chase & Co. boosted their target price on The Hartford Financial Services Group from $122.00 to $125.00 and gave the stock a “neutral” rating in a report on Friday, October 25th. Jefferies Financial Group raised their price target on shares of The Hartford Financial Services Group from $113.00 to $127.00 and gave the company a “hold” rating in a report on Wednesday, October 9th. Finally, Bank of America boosted their price objective on shares of The Hartford Financial Services Group from $121.00 to $124.00 and gave the stock a “neutral” rating in a research note on Thursday, October 10th. Nine equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, The Hartford Financial Services Group presently has an average rating of “Moderate Buy” and an average target price of $122.94.

The Hartford Financial Services Group Stock Up 1.4 %

Shares of NYSE HIG opened at $113.54 on Thursday. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.32 and a current ratio of 0.32. The Hartford Financial Services Group, Inc. has a 1 year low of $89.04 and a 1 year high of $124.90. The stock’s 50-day simple moving average is $112.51 and its 200-day simple moving average is $113.68. The firm has a market cap of $32.92 billion, a price-to-earnings ratio of 10.97, a PEG ratio of 0.81 and a beta of 0.97.

The Hartford Financial Services Group (NYSE:HIG) last posted its quarterly earnings data on Thursday, January 30th. The insurance provider reported $2.94 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.68 by $0.26. The Hartford Financial Services Group had a return on equity of 19.55% and a net margin of 11.72%. As a group, equities analysts anticipate that The Hartford Financial Services Group, Inc. will post 11.46 earnings per share for the current fiscal year.

Insider Activity at The Hartford Financial Services Group

In related news, EVP Adin M. Tooker sold 6,865 shares of the business’s stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $117.04, for a total value of $803,479.60. Following the completion of the sale, the executive vice president now directly owns 25,820 shares of the company’s stock, valued at $3,021,972.80. The trade was a 21.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 1.60% of the stock is currently owned by corporate 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.