Kovitz Investment Group Partners LLC Boosts Holdings in The Hartford Financial Services Group, Inc. (NYSE:HIG)

Kovitz Investment Group Partners LLC increased its holdings in The Hartford Financial Services Group, Inc. (NYSE:HIG) by 27.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 15,226 shares of the insurance provider’s stock after buying an additional 3,255 shares during the quarter. Kovitz Investment Group Partners LLC’s holdings in The Hartford Financial Services Group were worth $1,666,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Fuller & Thaler Asset Management Inc. lifted its holdings in The Hartford Financial Services Group by 84.1% during the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 19,971 shares of the insurance provider’s stock valued at $2,185,000 after purchasing an additional 9,122 shares in the last quarter. MGO One Seven LLC lifted its holdings in The Hartford Financial Services Group by 9.1% during the fourth quarter. MGO One Seven LLC now owns 5,117 shares of the insurance provider’s stock valued at $560,000 after purchasing an additional 428 shares in the last quarter. Tower Research Capital LLC TRC lifted its holdings in The Hartford Financial Services Group by 217.5% during the fourth quarter. Tower Research Capital LLC TRC now owns 23,484 shares of the insurance provider’s stock valued at $2,569,000 after purchasing an additional 16,087 shares in the last quarter. MetLife Investment Management LLC lifted its holdings in The Hartford Financial Services Group by 0.7% during the fourth quarter. MetLife Investment Management LLC now owns 76,718 shares of the insurance provider’s stock valued at $8,393,000 after purchasing an additional 538 shares in the last quarter. Finally, Natixis lifted its holdings in The Hartford Financial Services Group by 155.8% during the fourth quarter. Natixis now owns 115,938 shares of the insurance provider’s stock valued at $12,684,000 after purchasing an additional 70,608 shares in the last quarter. Hedge funds and other institutional investors own 93.42% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have weighed in on HIG. StockNews.com raised shares of The Hartford Financial Services Group from a “hold” rating to a “buy” rating in a report on Tuesday. Barclays lifted their price objective on shares of The Hartford Financial Services Group from $140.00 to $145.00 and gave the company an “overweight” rating in a research report on Friday. Jefferies Financial Group reduced their price objective on shares of The Hartford Financial Services Group from $118.00 to $117.00 and set a “hold” rating on the stock in a research report on Friday, April 11th. JPMorgan Chase & Co. lifted their price objective on shares of The Hartford Financial Services Group from $125.00 to $129.00 and gave the company a “neutral” rating in a research report on Tuesday, April 8th. Finally, Keefe, Bruyette & Woods reduced their price objective on shares of The Hartford Financial Services Group from $140.00 to $133.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 9th. Seven research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $126.87.

Insider Activity

In related news, EVP Robert W. Paiano sold 13,138 shares of the firm’s 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 transaction, the executive vice president now owns 31,678 shares of the company’s stock, valued at $3,712,661.60. This trade represents a 29.32 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Christopher Swift sold 1,144 shares of The Hartford Financial Services Group 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. The trade was a 0.54 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 112,343 shares of company stock valued at $13,488,337. 1.60% of the stock is currently owned by company insiders.

The Hartford Financial Services Group Price Performance

The Hartford Financial Services Group stock opened at $120.55 on Tuesday. The Hartford Financial Services Group, Inc. has a 52-week low of $95.00 and a 52-week high of $125.08. The company has a market cap of $34.72 billion, a price-to-earnings ratio of 11.65, a PEG ratio of 1.12 and a beta of 0.68. 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 firm’s fifty day moving average is $117.81 and its 200 day moving average is $115.42.

The Hartford Financial Services Group (NYSE:HIG) last announced its earnings results on Thursday, April 24th. The insurance provider reported $2.20 earnings per share for the quarter, beating the consensus estimate of $2.15 by $0.05. The Hartford Financial Services Group had a net margin of 11.72% and a return on equity of 19.55%. The business had revenue of $6.81 billion for the quarter, compared to the consensus estimate of $6.97 billion. During the same quarter in the prior year, the firm posted $2.34 earnings per share. The business’s revenue for the quarter was up 6.1% on a year-over-year basis. Sell-side analysts forecast that The Hartford Financial Services Group, Inc. will post 11.11 EPS for the current fiscal year.

The Hartford Financial Services Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 2nd. Stockholders of record on Monday, March 3rd were paid a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 1.73%. The ex-dividend date was Monday, March 3rd. The Hartford Financial Services Group’s dividend payout ratio is currently 20.10%.

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.