Amalgamated Bank Sells 1,438 Shares of The Hartford Financial Services Group, Inc. (NYSE:HIG)

Amalgamated Bank reduced its stake in The Hartford Financial Services Group, Inc. (NYSE:HIG) by 2.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 56,263 shares of the insurance provider’s stock after selling 1,438 shares during the period. Amalgamated Bank’s holdings in The Hartford Financial Services Group were worth $6,155,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the stock. Nordea Investment Management AB grew its stake in shares of The Hartford Financial Services Group by 17.3% in the 4th quarter. Nordea Investment Management AB now owns 3,938,421 shares of the insurance provider’s stock valued at $430,272,000 after buying an additional 581,103 shares during the period. Robeco Institutional Asset Management B.V. boosted its holdings in The Hartford Financial Services Group by 2.9% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 1,234,480 shares of the insurance provider’s stock worth $135,052,000 after acquiring an additional 34,938 shares in the last quarter. AustralianSuper Pty Ltd grew its stake in The Hartford Financial Services Group by 265.5% in the fourth quarter. AustralianSuper Pty Ltd now owns 1,213,074 shares of the insurance provider’s stock valued at $132,710,000 after acquiring an additional 881,224 shares during the period. Caisse DE Depot ET Placement DU Quebec increased its holdings in shares of The Hartford Financial Services Group by 42.1% during the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 935,298 shares of the insurance provider’s stock valued at $110,000,000 after acquiring an additional 277,295 shares in the last quarter. Finally, Assenagon Asset Management S.A. increased its holdings in shares of The Hartford Financial Services Group by 437.9% during the fourth quarter. Assenagon Asset Management S.A. now owns 871,318 shares of the insurance provider’s stock valued at $95,322,000 after acquiring an additional 709,324 shares in the last quarter. Institutional investors and hedge funds own 93.42% of the company’s stock.

The Hartford Financial Services Group Price Performance

The Hartford Financial Services Group stock opened at $115.38 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 business has a 50-day simple moving average of $111.33 and a 200 day simple moving average of $114.33. The stock has a market cap of $32.93 billion, a price-to-earnings ratio of 11.15, a PEG ratio of 1.12 and a beta of 0.97. The Hartford Financial Services Group, Inc. has a 52 week low of $94.32 and a 52 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 EPS for the quarter, topping 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%. On average, research analysts forecast that The Hartford Financial Services Group, Inc. will post 11.11 earnings per share for the current fiscal year.

The Hartford Financial Services Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 2nd. Investors 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 dividend on an annualized basis and a yield of 1.80%. The Hartford Financial Services Group’s dividend payout ratio is presently 20.10%.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on HIG shares. Barclays upgraded The Hartford Financial Services Group from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $130.00 to $135.00 in a report on Monday, January 6th. StockNews.com lowered shares of The Hartford Financial Services Group from a “buy” rating to a “hold” rating in a research note on Tuesday. BMO Capital Markets boosted their target price 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. Wells Fargo & Company dropped their price target 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. Finally, Royal Bank of Canada reissued a “sector perform” rating and set a $125.00 price objective on shares of The Hartford Financial Services Group in a report on Monday, February 3rd. Ten equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, The Hartford Financial Services Group currently has a consensus rating of “Moderate Buy” and a consensus target price of $122.94.

The Hartford Financial Services Group Company 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.