GeoWealth Management LLC Acquires 4,135 Shares of The Hartford Financial Services Group, Inc. (NYSE:HIG)

GeoWealth Management LLC grew its holdings in shares of The Hartford Financial Services Group, Inc. (NYSE:HIG) by 38.1% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 14,976 shares of the insurance provider’s stock after buying an additional 4,135 shares during the period. GeoWealth Management LLC’s holdings in The Hartford Financial Services Group were worth $1,638,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Dean Investment Associates LLC lifted its position in shares of The Hartford Financial Services Group by 4.5% in the 4th quarter. Dean Investment Associates LLC now owns 29,114 shares of the insurance provider’s stock worth $3,185,000 after purchasing an additional 1,259 shares during the period. Canada Pension Plan Investment Board lifted its holdings in The Hartford Financial Services Group by 38.8% in the fourth quarter. Canada Pension Plan Investment Board now owns 347,211 shares of the insurance provider’s stock worth $37,985,000 after buying an additional 96,974 shares during the period. Farringdon Capital Ltd. bought a new stake in The Hartford Financial Services Group during the 4th quarter valued at approximately $1,031,000. Marshall Wace LLP bought a new position in shares of The Hartford Financial Services Group in the 4th quarter worth approximately $10,501,000. Finally, NewEdge Advisors LLC lifted its stake in shares of The Hartford Financial Services Group by 7.4% in the 4th quarter. NewEdge Advisors LLC now owns 49,283 shares of the insurance provider’s stock valued at $5,392,000 after purchasing an additional 3,380 shares during the period. Institutional investors own 93.42% of the company’s stock.

Insider Activity

In other news, CEO Christopher Swift sold 98,061 shares of The Hartford Financial Services Group stock in a transaction on Monday, March 17th. The shares were sold at an average price of $120.39, for a total transaction of $11,805,563.79. Following the transaction, the chief executive officer now owns 211,082 shares in the company, valued at $25,412,161.98. This trade represents a 31.72 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, 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 transaction 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 disclosure for this sale can be found here. Insiders sold 112,343 shares of company stock valued at $13,488,337 in the last quarter. 1.60% of the stock is currently owned by insiders.

The Hartford Financial Services Group Stock Up 0.6 %

HIG opened at $117.84 on Friday. The stock has a market capitalization of $33.94 billion, a price-to-earnings ratio of 11.39, a PEG ratio of 1.12 and a beta of 0.68. The firm has a 50 day moving average price of $117.07 and a 200-day moving average price of $115.35. The Hartford Financial Services Group, Inc. has a twelve month low of $94.47 and a twelve month high of $125.08. 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 (NYSE:HIG) last announced 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%. Equities research analysts forecast that The Hartford Financial Services Group, Inc. will post 11.11 earnings per share for the current year.

The Hartford Financial Services Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, April 2nd. Shareholders of record on Monday, March 3rd were paid a dividend of $0.52 per share. The ex-dividend date was Monday, March 3rd. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.77%. The Hartford Financial Services Group’s dividend payout ratio is currently 20.10%.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on HIG shares. Royal Bank of Canada reissued 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. StockNews.com raised shares of The Hartford Financial Services Group from a “hold” rating to a “buy” rating in a research note on Thursday. Jefferies Financial Group decreased their target price on shares of The Hartford Financial Services Group from $118.00 to $117.00 and set a “hold” rating for the company in a research note on Friday, April 11th. Barclays upped their price target on The Hartford Financial Services Group from $135.00 to $140.00 and gave the stock an “overweight” rating in a research note on Friday, April 11th. Finally, JPMorgan Chase & Co. increased their target price on The Hartford Financial Services Group from $125.00 to $129.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 8th. Eight research 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 stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $124.13.

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.