Pinebridge Investments L.P. Sells 19,998 Shares of The Hartford Financial Services Group, Inc. (NYSE:HIG)

Pinebridge Investments L.P. trimmed its position in shares of The Hartford Financial Services Group, Inc. (NYSE:HIG) by 6.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 315,144 shares of the insurance provider’s stock after selling 19,998 shares during the quarter. Pinebridge Investments L.P. owned approximately 0.11% of The Hartford Financial Services Group worth $34,477,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of the company. Thurston Springer Miller Herd & Titak Inc. increased its holdings in The Hartford Financial Services Group by 3,342.9% during the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 241 shares of the insurance provider’s stock valued at $26,000 after purchasing an additional 234 shares in the last quarter. Barrett & Company Inc. grew its holdings in shares of 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 purchasing an additional 93 shares during the last quarter. DT Investment Partners LLC increased its stake in shares of The Hartford Financial Services Group by 49.8% in the fourth quarter. DT Investment Partners LLC now owns 331 shares of the insurance provider’s stock valued at $36,000 after buying an additional 110 shares in the last quarter. Flagship Wealth Advisors LLC bought a new position in shares of The Hartford Financial Services Group in the fourth quarter valued at about $36,000. Finally, Key Financial Inc lifted its position in The Hartford Financial Services Group by 526.3% during the 4th quarter. Key Financial Inc now owns 357 shares of the insurance provider’s stock worth $39,000 after buying an additional 300 shares in the last quarter. Institutional investors and hedge funds own 93.42% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on HIG shares. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $125.00 target price on shares of The Hartford Financial Services Group in a research note on Monday, February 3rd. StockNews.com raised The Hartford Financial Services Group from a “hold” rating to a “buy” rating in a report on Thursday, April 17th. Keefe, Bruyette & Woods lowered their target price on The Hartford Financial Services Group from $140.00 to $133.00 and set an “outperform” rating for the company in a research note on Wednesday, April 9th. Wells Fargo & Company cut their price target on The Hartford Financial Services Group from $126.00 to $125.00 and set an “overweight” rating on the stock in a research note on Thursday, April 10th. Finally, Jefferies Financial Group lowered their price objective on The Hartford Financial Services Group from $118.00 to $117.00 and set a “hold” rating for the company in a research report on Friday, April 11th. Eight analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, The Hartford Financial Services Group presently has an average rating of “Moderate Buy” and an average price target of $124.13.

The Hartford Financial Services Group Trading Up 4.0 %

Shares of NYSE HIG opened at $118.84 on Wednesday. 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 Hartford Financial Services Group, Inc. has a twelve month low of $94.47 and a twelve month high of $125.08. The company’s fifty day moving average is $117.27 and its 200-day moving average is $115.33. The stock has a market cap of $34.23 billion, a price-to-earnings ratio of 11.48, a P/E/G ratio of 1.12 and a beta of 0.68.

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 return on equity of 19.55% and a net margin of 11.72%. Equities research analysts predict that The Hartford Financial Services Group, Inc. will post 11.11 EPS for the current year.

The Hartford Financial Services Group Dividend Announcement

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 of this dividend was Monday, March 3rd. This represents a $2.08 annualized dividend and a yield of 1.75%. The Hartford Financial Services Group’s dividend payout ratio (DPR) is currently 20.10%.

Insider Buying and Selling at The Hartford Financial Services Group

In related news, EVP Robert W. Paiano sold 13,138 shares of the business’s 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 sale, the executive vice president now directly owns 31,678 shares of the company’s stock, valued at approximately $3,712,661.60. The trade was a 29.32 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Christopher Swift sold 1,144 shares of the company’s stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $125.00, for a total transaction of $143,000.00. Following the completion of the transaction, the chief executive officer now directly owns 211,082 shares of the company’s stock, valued at approximately $26,385,250. The trade was a 0.54 % decrease in their ownership of the stock. 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 corporate insiders.

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.