The Hartford Financial Services Group, Inc. (NYSE:HIG) Shares Sold by Alliancebernstein L.P.

Alliancebernstein L.P. trimmed its position in The Hartford Financial Services Group, Inc. (NYSE:HIG) by 2.5% in the fourth quarter, HoldingsChannel.com reports. The firm owned 350,366 shares of the insurance provider’s stock after selling 8,904 shares during the quarter. Alliancebernstein L.P.’s holdings in The Hartford Financial Services Group were worth $38,330,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in HIG. HighTower Advisors LLC lifted its holdings in shares of The Hartford Financial Services Group by 7.1% in the third quarter. HighTower Advisors LLC now owns 111,134 shares of the insurance provider’s stock valued at $13,063,000 after buying an additional 7,350 shares during the period. Integrated Wealth Concepts LLC lifted its holdings in The Hartford Financial Services Group by 3.2% in the 3rd quarter. Integrated Wealth Concepts LLC now owns 6,930 shares of the insurance provider’s stock valued at $815,000 after acquiring an additional 213 shares during the last quarter. Royal London Asset Management Ltd. boosted its position in shares of The Hartford Financial Services Group by 8.9% during the 3rd quarter. Royal London Asset Management Ltd. now owns 216,487 shares of the insurance provider’s stock valued at $25,461,000 after purchasing an additional 17,782 shares in the last quarter. Quantinno Capital Management LP grew its stake in shares of The Hartford Financial Services Group by 21.6% in the 3rd quarter. Quantinno Capital Management LP now owns 18,744 shares of the insurance provider’s stock worth $2,205,000 after purchasing an additional 3,334 shares during the last quarter. Finally, Kovitz Investment Group Partners LLC raised its holdings in shares of The Hartford Financial Services Group by 353.8% in the 3rd quarter. Kovitz Investment Group Partners LLC now owns 11,971 shares of the insurance provider’s stock worth $1,408,000 after purchasing an additional 9,333 shares in the last quarter. 93.42% of the stock is owned by institutional investors.

Insider Transactions at The Hartford Financial Services Group

In related news, EVP Robert W. Paiano sold 13,138 shares of The Hartford Financial Services Group stock in a transaction on 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 transaction, the executive vice president now owns 31,678 shares in the company, valued at $3,712,661.60. This trade represents a 29.32 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Christopher Swift sold 1,144 shares of the company’s stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $125.00, for a total transaction of $143,000.00. Following the sale, the chief executive officer now owns 211,082 shares of the company’s stock, valued at $26,385,250. This trade represents a 0.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 112,343 shares of company stock worth $13,488,337. 1.60% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the stock. Barclays upgraded shares of The Hartford Financial Services Group from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $130.00 to $135.00 in a research report on Monday, January 6th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $125.00 target price on shares of The Hartford Financial Services Group in a research report on Monday, February 3rd. Raymond James lifted their price target on The Hartford Financial Services Group from $125.00 to $135.00 and gave the stock an “outperform” rating in a research note on Monday, March 31st. StockNews.com lowered shares of The Hartford Financial Services Group from a “buy” rating to a “hold” rating in a research note on Tuesday, March 18th. Finally, Wells Fargo & Company dropped their target price 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 report on Monday, February 3rd. Ten research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $123.47.

The Hartford Financial Services Group Stock Down 8.0 %

HIG opened at $113.56 on Friday. The company has a market capitalization of $32.41 billion, a PE ratio of 10.97, a price-to-earnings-growth ratio of 1.12 and a beta of 0.68. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.32 and a quick ratio of 0.32. The Hartford Financial Services Group, Inc. has a fifty-two week low of $94.47 and a fifty-two week high of $125.08. The business has a 50-day moving average of $116.56 and a 200-day moving average of $115.48.

The Hartford Financial Services Group (NYSE:HIG) last posted its earnings results on Thursday, January 30th. The insurance provider reported $2.94 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.68 by $0.26. The Hartford Financial Services Group had a net margin of 11.72% and a return on equity of 19.55%. Equities research analysts forecast that The Hartford Financial Services Group, Inc. will post 11.11 EPS for the current fiscal year.

The Hartford Financial Services Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, April 2nd. Shareholders of record on Monday, March 3rd were issued a dividend of $0.52 per share. The ex-dividend date was Monday, March 3rd. This represents a $2.08 annualized dividend and a yield of 1.83%. The Hartford Financial Services Group’s dividend payout ratio (DPR) is currently 20.10%.

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.