Bailard Inc. Sells 348 Shares of The Hartford Financial Services Group, Inc. (NYSE:HIG)

Bailard Inc. trimmed its holdings in shares of The Hartford Financial Services Group, Inc. (NYSE:HIG) by 1.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 19,277 shares of the insurance provider’s stock after selling 348 shares during the quarter. Bailard Inc.’s holdings in The Hartford Financial Services Group were worth $1,549,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also modified their holdings of HIG. Victory Capital Management Inc. boosted its position in shares of The Hartford Financial Services Group by 26.7% during the third quarter. Victory Capital Management Inc. now owns 5,142,167 shares of the insurance provider’s stock worth $364,631,000 after buying an additional 1,083,420 shares during the period. Qube Research & Technologies Ltd boosted its stake in The Hartford Financial Services Group by 144.3% in the 3rd quarter. Qube Research & Technologies Ltd now owns 926,033 shares of the insurance provider’s stock worth $65,665,000 after buying an additional 546,969 shares during the last quarter. Nordea Investment Management AB raised its holdings in shares of The Hartford Financial Services Group by 20.2% in the 4th quarter. Nordea Investment Management AB now owns 2,958,172 shares of the insurance provider’s stock worth $237,600,000 after purchasing an additional 497,916 shares during the period. Great Lakes Advisors LLC raised its holdings in shares of The Hartford Financial Services Group by 41.5% during the 3rd quarter. Great Lakes Advisors LLC now owns 1,592,479 shares of the insurance provider’s stock valued at $112,923,000 after buying an additional 467,030 shares during the period. Finally, AQR Capital Management LLC grew its stake in The Hartford Financial Services Group by 23.6% during the 3rd quarter. AQR Capital Management LLC now owns 1,179,682 shares of the insurance provider’s stock valued at $83,651,000 after purchasing an additional 224,979 shares in the last quarter. Institutional investors and hedge funds own 93.42% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on HIG. Morgan Stanley boosted their price objective on The Hartford Financial Services Group from $94.00 to $110.00 and gave the stock an “equal weight” rating in a research note on Monday, April 15th. Evercore ISI upped their price target on The Hartford Financial Services Group from $96.00 to $104.00 and gave the company an “in-line” rating in a report on Thursday, April 11th. UBS Group increased their price target on The Hartford Financial Services Group from $100.00 to $107.00 and gave the stock a “buy” rating in a research report on Monday, February 5th. Raymond James reiterated an “outperform” rating and set a $120.00 target price (up previously from $100.00) on shares of The Hartford Financial Services Group in a report on Monday, April 1st. Finally, Keefe, Bruyette & Woods boosted their price target on The Hartford Financial Services Group from $114.00 to $120.00 and gave the company an “outperform” rating in a research note on Wednesday, April 10th. Seven investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $105.56.

The Hartford Financial Services Group Price Performance

HIG stock traded down $2.85 during trading on Friday, hitting $96.24. The stock had a trading volume of 875,698 shares, compared to its average volume of 1,787,944. The Hartford Financial Services Group, Inc. has a 1-year low of $67.05 and a 1-year high of $103.64. The company’s 50 day moving average price is $98.45 and its two-hundred day moving average price is $86.07. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.32 and a current ratio of 0.32. The stock has a market cap of $28.61 billion, a price-to-earnings ratio of 12.11, a price-to-earnings-growth ratio of 1.41 and a beta of 0.89.

The Hartford Financial Services Group (NYSE:HIG) last released its quarterly earnings results on Thursday, April 25th. The insurance provider reported $2.34 earnings per share for the quarter, missing analysts’ consensus estimates of $2.43 by ($0.09). The company had revenue of $6.42 billion during the quarter, compared to analysts’ expectations of $6.51 billion. The Hartford Financial Services Group had a return on equity of 19.82% and a net margin of 10.21%. The firm’s revenue was up 8.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.68 EPS. On average, sell-side analysts forecast that The Hartford Financial Services Group, Inc. will post 10.13 EPS for the current fiscal year.

The Hartford Financial Services Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 2nd. Investors of record on Monday, March 4th were paid a dividend of $0.47 per share. The ex-dividend date of this dividend was Friday, March 1st. This represents a $1.88 annualized dividend and a yield of 1.95%. The Hartford Financial Services Group’s dividend payout ratio is currently 23.53%.

Insider Activity at The Hartford Financial Services Group

In other The Hartford Financial Services Group news, EVP Michael R. Fisher sold 27,004 shares of the firm’s stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $98.90, for a total value of $2,670,695.60. Following the sale, the executive vice president now owns 18,906 shares of the company’s stock, valued at approximately $1,869,803.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other The Hartford Financial Services Group news, CFO Beth Ann Costello sold 38,915 shares of the company’s stock in a transaction that occurred on Tuesday, February 27th. The stock was sold at an average price of $95.42, for a total value of $3,713,269.30. Following the sale, the chief financial officer now owns 69,169 shares in the company, valued at $6,600,105.98. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Michael R. Fisher sold 27,004 shares of the firm’s stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $98.90, for a total value of $2,670,695.60. Following the transaction, the executive vice president now owns 18,906 shares in the company, valued at approximately $1,869,803.40. The disclosure for this sale can be found here. Insiders sold 106,501 shares of company stock worth $10,141,126 in the last quarter. 1.60% of the stock is owned by company insiders.

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.