Parallel Advisors LLC Grows Stake in The Hartford Financial Services Group, Inc. (NYSE:HIG)

Parallel Advisors LLC lifted its stake in The Hartford Financial Services Group, Inc. (NYSE:HIG) by 1.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 17,239 shares of the insurance provider’s stock after purchasing an additional 164 shares during the quarter. Parallel Advisors LLC’s holdings in The Hartford Financial Services Group were worth $1,886,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently bought and sold shares of HIG. Gitterman Wealth Management LLC grew its holdings in shares of The Hartford Financial Services Group by 6.7% during the fourth quarter. Gitterman Wealth Management LLC now owns 2,875 shares of the insurance provider’s stock valued at $315,000 after buying an additional 180 shares during the last quarter. Frank Rimerman Advisors LLC lifted its position in The Hartford Financial Services Group by 18.4% in the 4th quarter. Frank Rimerman Advisors LLC now owns 2,936 shares of the insurance provider’s stock valued at $321,000 after acquiring an additional 457 shares in the last quarter. Aviso Financial Inc. boosted its stake in The Hartford Financial Services Group by 3.6% during the 4th quarter. Aviso Financial Inc. now owns 19,791 shares of the insurance provider’s stock valued at $2,165,000 after purchasing an additional 681 shares during the last quarter. Commonwealth Equity Services LLC increased its holdings in shares of The Hartford Financial Services Group by 14.1% in the 4th quarter. Commonwealth Equity Services LLC now owns 120,680 shares of the insurance provider’s stock worth $13,202,000 after purchasing an additional 14,950 shares in the last quarter. Finally, PGGM Investments increased its holdings in shares of The Hartford Financial Services Group by 2.2% in the 4th quarter. PGGM Investments now owns 93,731 shares of the insurance provider’s stock worth $10,254,000 after purchasing an additional 2,057 shares in the last quarter. 93.42% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other The Hartford Financial Services Group news, EVP Robert W. Paiano sold 13,138 shares of the company’s stock in a transaction that occurred on 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 transaction, the executive vice president now directly owns 31,678 shares in the company, valued at $3,712,661.60. This represents a 29.32 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 1.60% of the stock is currently owned by company insiders.

The Hartford Financial Services Group Price Performance

Shares of NYSE:HIG opened at $118.81 on Wednesday. The firm’s 50 day simple moving average is $113.69 and its two-hundred day simple moving average is $114.96. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.32 and a quick ratio of 0.32. The company has a market capitalization of $33.91 billion, a P/E ratio of 11.48, a P/E/G ratio of 1.12 and a beta of 0.91. The Hartford Financial Services Group, Inc. has a 1-year low of $94.47 and a 1-year high of $124.90.

The Hartford Financial Services Group (NYSE:HIG) last released its earnings results on Thursday, January 30th. The insurance provider reported $2.94 earnings per share for the quarter, beating analysts’ consensus estimates of $2.68 by $0.26. The Hartford Financial Services Group had a net margin of 11.72% and a return on equity of 19.55%. Research analysts expect that The Hartford Financial Services Group, Inc. will post 11.11 EPS for the current fiscal year.

The Hartford Financial Services Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 2nd. Stockholders of record on Monday, March 3rd will be paid a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.75%. The ex-dividend date is Monday, March 3rd. The Hartford Financial Services Group’s dividend payout ratio (DPR) is 20.10%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $125.00 price objective on shares of The Hartford Financial Services Group in a research report on Monday, February 3rd. Wells Fargo & Company dropped their price target on shares of The Hartford Financial Services Group from $130.00 to $126.00 and set an “overweight” rating on the stock in a report on Monday, February 3rd. Keefe, Bruyette & Woods boosted their price objective on shares of The Hartford Financial Services Group from $139.00 to $140.00 and gave the company an “outperform” rating in a report on Wednesday, February 5th. StockNews.com cut shares of The Hartford Financial Services Group from a “buy” rating to a “hold” rating in a report on Tuesday. Finally, Barclays upgraded shares of The Hartford Financial Services Group from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $130.00 to $135.00 in a research note on Monday, January 6th. Ten equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, The Hartford Financial Services Group currently has a consensus rating of “Moderate Buy” and an average price target of $122.94.

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.