Quarry LP Acquires 478 Shares of The Hartford Financial Services Group, Inc. (NYSE:HIG)

Quarry LP raised its holdings in The Hartford Financial Services Group, Inc. (NYSE:HIG) by 131.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 841 shares of the insurance provider’s stock after acquiring an additional 478 shares during the period. Quarry LP’s holdings in The Hartford Financial Services Group were worth $92,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the business. Thurston Springer Miller Herd & Titak Inc. boosted its position in The Hartford Financial Services Group by 3,342.9% in the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 241 shares of the insurance provider’s stock valued at $26,000 after buying an additional 234 shares in the last quarter. Barrett & Company Inc. boosted its holdings in shares of The Hartford Financial Services Group by 46.5% during the 4th quarter. Barrett & Company Inc. now owns 293 shares of the insurance provider’s stock valued at $32,000 after acquiring an additional 93 shares in the last quarter. DT Investment Partners LLC grew its position in The Hartford Financial Services Group by 49.8% during the 4th quarter. DT Investment Partners LLC now owns 331 shares of the insurance provider’s stock worth $36,000 after acquiring an additional 110 shares during the last quarter. Flagship Wealth Advisors LLC acquired a new position in The Hartford Financial Services Group in the 4th quarter worth about $36,000. Finally, Key Financial Inc raised its position in The Hartford Financial Services Group by 526.3% in the fourth quarter. Key Financial Inc now owns 357 shares of the insurance provider’s stock valued at $39,000 after purchasing an additional 300 shares during the last quarter. Institutional investors and hedge funds own 93.42% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on HIG. UBS Group raised their price objective on shares of The Hartford Financial Services Group from $139.00 to $142.00 and gave the company a “buy” rating in a report on Monday. StockNews.com upgraded shares of The Hartford Financial Services Group from a “hold” rating to a “buy” rating in a report on Tuesday. JPMorgan Chase & Co. increased their price objective on The Hartford Financial Services Group from $125.00 to $129.00 and gave the company a “neutral” rating in a report on Tuesday, April 8th. Keefe, Bruyette & Woods cut their target price on The Hartford Financial Services Group from $140.00 to $133.00 and set an “outperform” rating on the stock in a report on Wednesday, April 9th. Finally, Raymond James increased their price target on The Hartford Financial Services Group from $125.00 to $135.00 and gave the company an “outperform” rating in a research note on Monday, March 31st. Seven analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $126.87.

The Hartford Financial Services Group Stock Up 1.6 %

HIG stock opened at $122.37 on Wednesday. The stock’s 50 day simple moving average is $118.01 and its 200 day simple moving average is $115.47. The company has a market cap of $35.25 billion, a P/E ratio of 11.82, a price-to-earnings-growth ratio of 1.12 and a beta of 0.68. 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, Inc. has a fifty-two week low of $96.20 and a fifty-two week high of $125.08.

The Hartford Financial Services Group (NYSE:HIG) last released its quarterly earnings data on Thursday, April 24th. The insurance provider reported $2.20 earnings per share for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $6.81 billion for the quarter, compared to analyst estimates of $6.97 billion. During the same period last year, the firm earned $2.34 earnings per share. The business’s quarterly revenue was up 6.1% compared to the same quarter last year. On average, research analysts expect 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 business also recently disclosed 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 1.70%. The ex-dividend date of this dividend was Monday, March 3rd. The Hartford Financial Services Group’s dividend payout ratio (DPR) is presently 20.10%.

Insider Activity

In related news, EVP Robert W. Paiano sold 13,138 shares of the stock in a transaction that occurred on Tuesday, March 11th. The stock was sold at an average price of $117.20, for a total transaction of $1,539,773.60. Following the completion of the sale, the executive vice president now directly owns 31,678 shares of the company’s stock, valued at approximately $3,712,661.60. This trade represents a 29.32 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Christopher Swift sold 1,144 shares of the business’s stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $125.00, for a total value of $143,000.00. Following the completion of the transaction, the chief executive officer now directly owns 211,082 shares in the company, valued at approximately $26,385,250. This represents a 0.54 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 112,343 shares of company stock worth $13,488,337 over the last 90 days. 1.60% of the stock is currently owned by corporate 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.