Whittier Trust Co. Decreases Stake in The Hartford Financial Services Group, Inc. (NYSE:HIG)

Whittier Trust Co. cut its holdings in The Hartford Financial Services Group, Inc. (NYSE:HIG) by 4.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,475 shares of the insurance provider’s stock after selling 180 shares during the quarter. Whittier Trust Co.’s holdings in The Hartford Financial Services Group were worth $380,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of HIG. Blueshift Asset Management LLC acquired a new position in The Hartford Financial Services Group during the fourth quarter worth $269,000. Teacher Retirement System of Texas raised its holdings in The Hartford Financial Services Group by 68.7% during the fourth quarter. Teacher Retirement System of Texas now owns 723,925 shares of the insurance provider’s stock worth $79,197,000 after purchasing an additional 294,836 shares during the last quarter. Strategic Financial Services Inc. raised its holdings in The Hartford Financial Services Group by 36.0% during the fourth quarter. Strategic Financial Services Inc. now owns 2,446 shares of the insurance provider’s stock worth $268,000 after purchasing an additional 648 shares during the last quarter. Intech Investment Management LLC raised its holdings in The Hartford Financial Services Group by 8.0% during the fourth quarter. Intech Investment Management LLC now owns 119,071 shares of the insurance provider’s stock worth $13,026,000 after purchasing an additional 8,801 shares during the last quarter. Finally, Generali Asset Management SPA SGR acquired a new position in The Hartford Financial Services Group during the fourth quarter worth $5,937,000. 93.42% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

HIG has been the subject of several research reports. StockNews.com cut The Hartford Financial Services Group from a “buy” rating to a “hold” rating in a report on Tuesday, March 18th. Royal Bank of Canada reissued a “sector perform” rating and issued a $125.00 price target on shares of The Hartford Financial Services Group in a report on Monday, February 3rd. Keefe, Bruyette & Woods boosted their price target on The Hartford Financial Services Group from $139.00 to $140.00 and gave the stock an “outperform” rating in a report on Wednesday, February 5th. Wells Fargo & Company cut their price target on The Hartford Financial Services Group from $130.00 to $126.00 and set an “overweight” rating for the company in a report on Monday, February 3rd. Finally, BMO Capital Markets boosted their price target on The Hartford Financial Services Group from $100.00 to $141.00 and gave the stock a “market perform” rating in a report on Wednesday, November 27th. Ten equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, The Hartford Financial Services Group presently has an average rating of “Moderate Buy” and an average price target of $122.94.

Insider Transactions at The Hartford Financial Services Group

In other news, CEO Christopher Swift sold 98,061 shares of the company’s stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $120.39, for a total value of $11,805,563.79. Following the completion of the sale, the chief executive officer now owns 211,082 shares of the company’s stock, valued at $25,412,161.98. This represents a 31.72 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Robert W. Paiano sold 13,138 shares of the company’s stock in a transaction dated Tuesday, March 11th. The stock was sold at an average price of $117.20, for a total value 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 $3,712,661.60. The trade was a 29.32 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.60% of the company’s stock.

The Hartford Financial Services Group Price Performance

HIG stock opened at $119.20 on Monday. The stock has a 50-day moving average price of $114.36 and a two-hundred day moving average price of $115.03. The Hartford Financial Services Group, Inc. has a 12-month low of $94.47 and a 12-month high of $124.90. The company has a current ratio of 0.32, a quick ratio of 0.32 and a debt-to-equity ratio of 0.27. The company has a market cap of $34.02 billion, a PE ratio of 11.52, a price-to-earnings-growth ratio of 1.12 and a beta of 0.91.

The Hartford Financial Services Group (NYSE:HIG) last posted its quarterly 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%. As a group, research analysts predict that The Hartford Financial Services Group, Inc. will post 11.11 EPS for the current year.

The Hartford Financial Services Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 2nd. Stockholders of record on Monday, March 3rd will be given a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 1.74%. The ex-dividend date of this dividend is Monday, March 3rd. The Hartford Financial Services Group’s payout ratio is 20.10%.

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.