Hillsdale Investment Management Inc. Grows Stock Holdings in The Hartford Financial Services Group, Inc. (NYSE:HIG)

Hillsdale Investment Management Inc. increased its holdings in shares of The Hartford Financial Services Group, Inc. (NYSE:HIG) by 5.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,650 shares of the insurance provider’s stock after purchasing an additional 350 shares during the period. Hillsdale Investment Management Inc.’s holdings in The Hartford Financial Services Group were worth $728,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also modified their holdings of the company. HighTower Advisors LLC grew its holdings in The Hartford Financial Services Group by 7.1% during the third quarter. HighTower Advisors LLC now owns 111,134 shares of the insurance provider’s stock worth $13,063,000 after acquiring an additional 7,350 shares during the period. Dai ichi Life Insurance Company Ltd grew its stake in shares of The Hartford Financial Services Group by 3.3% during the 3rd quarter. Dai ichi Life Insurance Company Ltd now owns 137,506 shares of the insurance provider’s stock worth $16,172,000 after purchasing an additional 4,449 shares during the period. Horizon Advisory Services Inc. purchased a new position in shares of The Hartford Financial Services Group during the 4th quarter valued at approximately $277,000. Zurich Insurance Group Ltd FI acquired a new position in shares of The Hartford Financial Services Group in the 3rd quarter valued at $19,005,000. Finally, Assenagon Asset Management S.A. boosted its holdings in The Hartford Financial Services Group by 437.9% during the fourth quarter. Assenagon Asset Management S.A. now owns 871,318 shares of the insurance provider’s stock worth $95,322,000 after buying an additional 709,324 shares in the last quarter. Hedge funds and other institutional investors own 93.42% of the company’s stock.

The Hartford Financial Services Group Trading Down 0.4 %

Shares of The Hartford Financial Services Group stock opened at $119.20 on Monday. 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 stock’s 50 day simple moving average is $114.36 and its 200-day simple moving average is $115.03. The stock has a market cap of $34.02 billion, a P/E ratio of 11.52, 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 quarterly earnings data on Thursday, January 30th. The insurance provider reported $2.94 earnings per share for the quarter, topping 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%. Analysts predict that The Hartford Financial Services Group, Inc. will post 11.11 EPS for the current fiscal year.

The Hartford Financial Services Group Dividend Announcement

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

Insiders Place Their Bets

In other news, EVP Robert W. Paiano sold 13,138 shares of the company’s stock in a transaction 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 transaction, the executive vice president now owns 31,678 shares of the company’s stock, valued at $3,712,661.60. This represents a 29.32 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Christopher Swift sold 98,061 shares of the firm’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 sale, the chief executive officer now directly owns 211,082 shares of the company’s stock, valued at $25,412,161.98. The trade was a 31.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.60% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

HIG has been the subject of a number of recent analyst reports. Wells Fargo & Company decreased their price objective on shares of The Hartford Financial Services Group from $130.00 to $126.00 and set an “overweight” rating for the company in a research report on Monday, February 3rd. Keefe, Bruyette & Woods upped 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. StockNews.com lowered The Hartford Financial Services Group from a “buy” rating to a “hold” rating in a report on Tuesday, March 18th. Barclays raised The Hartford Financial Services Group from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $130.00 to $135.00 in a research note on Monday, January 6th. Finally, 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 research note on Monday, February 3rd. Ten analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $122.94.

About The Hartford Financial Services Group

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.