The Hartford Financial Services Group, Inc. (NYSE:HIG) Shares Acquired by Teacher Retirement System of Texas

Teacher Retirement System of Texas boosted its position in shares of The Hartford Financial Services Group, Inc. (NYSE:HIG) by 68.7% in the fourth quarter, Holdings Channel.com reports. The firm owned 723,925 shares of the insurance provider’s stock after acquiring an additional 294,836 shares during the period. Teacher Retirement System of Texas’ holdings in The Hartford Financial Services Group were worth $79,197,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Oppenheimer & Co. Inc. purchased a new stake in shares of The Hartford Financial Services Group during the third quarter worth about $271,000. Empowered Funds LLC increased its holdings in The Hartford Financial Services Group by 34.0% during the 3rd quarter. Empowered Funds LLC now owns 17,658 shares of the insurance provider’s stock worth $2,077,000 after purchasing an additional 4,482 shares during the last quarter. Meeder Advisory Services Inc. raised its position in shares of The Hartford Financial Services Group by 1.9% in the 3rd quarter. Meeder Advisory Services Inc. now owns 5,621 shares of the insurance provider’s stock valued at $661,000 after purchasing an additional 104 shares in the last quarter. Fifth Third Wealth Advisors LLC boosted its stake in shares of The Hartford Financial Services Group by 6.8% during the 3rd quarter. Fifth Third Wealth Advisors LLC now owns 4,088 shares of the insurance provider’s stock valued at $481,000 after buying an additional 259 shares during the last quarter. Finally, Banque Cantonale Vaudoise grew its position in shares of The Hartford Financial Services Group by 6.6% during the third quarter. Banque Cantonale Vaudoise now owns 18,404 shares of the insurance provider’s stock worth $2,164,000 after buying an additional 1,144 shares in the last quarter. Hedge funds and other institutional investors own 93.42% of the company’s stock.

The Hartford Financial Services Group Trading Up 0.7 %

Shares of NYSE:HIG opened at $119.73 on Thursday. The company has a quick ratio of 0.32, a current ratio of 0.32 and a debt-to-equity ratio of 0.27. The company’s 50-day moving average price is $113.89 and its 200 day moving average price is $114.99. The company has a market cap of $34.17 billion, a PE ratio of 11.57, a P/E/G ratio of 1.12 and a beta of 0.91. The Hartford Financial Services Group, Inc. has a fifty-two week low of $94.47 and a fifty-two week high of $124.90.

The Hartford Financial Services Group (NYSE:HIG) last released its quarterly earnings results on Thursday, January 30th. The insurance provider reported $2.94 earnings per share for the quarter, beating analysts’ consensus estimates 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%. Sell-side analysts anticipate that The Hartford Financial Services Group, Inc. will post 11.11 earnings per share for the current year.

The Hartford Financial Services Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 2nd. Stockholders of record on Monday, March 3rd will be paid a $0.52 dividend. The ex-dividend date is Monday, March 3rd. This represents a $2.08 annualized dividend and a dividend yield of 1.74%. The Hartford Financial Services Group’s payout ratio is 20.10%.

Analyst Ratings Changes

A number of research firms have commented on HIG. Wells Fargo & Company reduced their price objective on shares of The Hartford Financial Services Group from $130.00 to $126.00 and set an “overweight” rating on the stock in a research note on Monday, February 3rd. BMO Capital Markets increased their price target on shares of The Hartford Financial Services Group from $100.00 to $141.00 and gave the stock a “market perform” rating in a research report on Wednesday, November 27th. Royal Bank of Canada reissued a “sector perform” rating and issued a $125.00 price objective on shares of The Hartford Financial Services Group in a report on Monday, February 3rd. StockNews.com downgraded The Hartford Financial Services Group from a “buy” rating to a “hold” rating in a report on Tuesday. Finally, Barclays upgraded The Hartford Financial Services Group from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $130.00 to $135.00 in a report on Monday, January 6th. Ten analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $122.94.

Insider Activity

In related news, EVP Robert W. Paiano sold 13,138 shares of the stock in a transaction dated Tuesday, March 11th. The shares were sold at an average price of $117.20, for a total value of $1,539,773.60. Following the completion of the transaction, the executive vice president now owns 31,678 shares in the company, valued at $3,712,661.60. This represents a 29.32 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Christopher Swift sold 98,061 shares of the business’s stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $120.39, for a total transaction of $11,805,563.79. Following the sale, the chief executive officer now owns 211,082 shares in the company, valued at $25,412,161.98. This trade represents a 31.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.60% of the company’s stock.

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.