Raymond James Financial Inc. Buys New Holdings in The Hartford Financial Services Group, Inc. (NYSE:HIG)

Raymond James Financial Inc. bought a new stake in The Hartford Financial Services Group, Inc. (NYSE:HIG) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 596,492 shares of the insurance provider’s stock, valued at approximately $65,256,000. Raymond James Financial Inc. owned about 0.21% of The Hartford Financial Services Group as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also bought and sold shares of the company. Catalyst Financial Partners LLC lifted its position in The Hartford Financial Services Group by 3.0% during the fourth quarter. Catalyst Financial Partners LLC now owns 3,079 shares of the insurance provider’s stock worth $337,000 after acquiring an additional 90 shares during the last quarter. Barrett & Company Inc. lifted its position in The Hartford Financial Services Group by 46.5% during the fourth quarter. Barrett & Company Inc. now owns 293 shares of the insurance provider’s stock worth $32,000 after acquiring an additional 93 shares during the last quarter. Brooklyn Investment Group lifted its position in The Hartford Financial Services Group by 4.0% during the third quarter. Brooklyn Investment Group now owns 2,444 shares of the insurance provider’s stock worth $287,000 after acquiring an additional 94 shares during the last quarter. Wilmington Savings Fund Society FSB lifted its position in The Hartford Financial Services Group by 2.2% during the fourth quarter. Wilmington Savings Fund Society FSB now owns 4,468 shares of the insurance provider’s stock worth $489,000 after acquiring an additional 97 shares during the last quarter. Finally, Lifestyle Asset Management Inc. lifted its position in The Hartford Financial Services Group by 0.9% during the fourth quarter. Lifestyle Asset Management Inc. now owns 11,499 shares of the insurance provider’s stock worth $1,258,000 after acquiring an additional 98 shares during the last quarter. 93.42% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

HIG has been the subject of several research reports. StockNews.com upgraded shares of The Hartford Financial Services Group from a “hold” rating to a “buy” rating in a research report on Monday. 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 company from $130.00 to $135.00 in a research report on Monday, January 6th. BMO Capital Markets lifted their price target on shares of The Hartford Financial Services Group from $100.00 to $141.00 and gave the company 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 for the company in a research report on Monday, February 3rd. Finally, Royal Bank of Canada reiterated a “sector perform” rating and issued a $125.00 price target on shares of The Hartford Financial Services Group in a research report on Monday, February 3rd. Nine investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $122.94.

The Hartford Financial Services Group Stock Performance

NYSE HIG opened at $117.34 on Tuesday. The firm’s fifty day moving average price is $112.63 and its two-hundred day moving average price is $114.80. The stock has a market cap of $33.49 billion, a PE ratio of 11.34, a PEG 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 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 (NYSE:HIG) last posted its earnings results on Thursday, January 30th. The insurance provider reported $2.94 earnings per share 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, equities analysts expect 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 firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 2nd. Stockholders of record on Monday, March 3rd will be issued a dividend of $0.52 per share. The ex-dividend date is Monday, March 3rd. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.77%. The Hartford Financial Services Group’s dividend payout ratio (DPR) is presently 20.10%.

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.