California Public Employees Retirement System Reduces Stock Position in The Hartford Financial Services Group, Inc. (NYSE:HIG)

California Public Employees Retirement System lowered its stake in shares of The Hartford Financial Services Group, Inc. (NYSE:HIG) by 4.7% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 573,523 shares of the insurance provider’s stock after selling 28,066 shares during the period. California Public Employees Retirement System owned 0.19% of The Hartford Financial Services Group worth $46,100,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. GoalVest Advisory LLC lifted its stake in The Hartford Financial Services Group by 464.8% during the 4th quarter. GoalVest Advisory LLC now owns 305 shares of the insurance provider’s stock worth $25,000 after acquiring an additional 251 shares in the last quarter. Turtle Creek Wealth Advisors LLC purchased a new position in shares of The Hartford Financial Services Group in the fourth quarter valued at approximately $26,000. CVA Family Office LLC acquired a new position in shares of The Hartford Financial Services Group in the fourth quarter valued at approximately $27,000. Chilton Capital Management LLC acquired a new position in shares of The Hartford Financial Services Group in the fourth quarter valued at approximately $28,000. Finally, Selway Asset Management purchased a new stake in The Hartford Financial Services Group during the 3rd quarter worth approximately $29,000. 93.42% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts recently commented on the stock. Keefe, Bruyette & Woods raised their price target on shares of The Hartford Financial Services Group from $114.00 to $120.00 and gave the stock an “outperform” rating in a report on Wednesday, April 10th. Citigroup upped their target price on The Hartford Financial Services Group from $109.00 to $113.00 and gave the stock a “buy” rating in a research report on Tuesday, April 16th. Morgan Stanley reduced their price target on The Hartford Financial Services Group from $110.00 to $109.00 and set an “equal weight” rating for the company in a report on Friday. Evercore ISI increased their price objective on The Hartford Financial Services Group from $96.00 to $104.00 and gave the stock an “in-line” rating in a report on Thursday, April 11th. Finally, Raymond James reiterated an “outperform” rating and issued a $120.00 target price (up from $100.00) on shares of The Hartford Financial Services Group in a research note on Monday, April 1st. Seven analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $105.81.

The Hartford Financial Services Group Stock Down 3.8 %

Shares of HIG stock opened at $95.30 on Friday. The stock has a 50 day moving average of $98.50 and a 200-day moving average of $86.23. The Hartford Financial Services Group, Inc. has a 12 month low of $67.05 and a 12 month high of $103.64. The company has a quick ratio of 0.32, a current ratio of 0.32 and a debt-to-equity ratio of 0.29. The firm has a market cap of $28.33 billion, a PE ratio of 10.83, a price-to-earnings-growth ratio of 1.40 and a beta of 0.89.

The Hartford Financial Services Group (NYSE:HIG) last posted its earnings results on Thursday, April 25th. The insurance provider reported $2.34 EPS for the quarter, missing the consensus estimate of $2.43 by ($0.09). The firm had revenue of $6.42 billion during the quarter, compared to analyst estimates of $6.51 billion. The Hartford Financial Services Group had a net margin of 10.87% and a return on equity of 21.04%. The Hartford Financial Services Group’s revenue for the quarter was up 8.6% compared to the same quarter last year. During the same period in the previous year, the company posted $1.68 EPS. On average, equities analysts predict that The Hartford Financial Services Group, Inc. will post 10.13 EPS for the current year.

The Hartford Financial Services Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 2nd. Shareholders of record on Monday, March 4th were given a dividend of $0.47 per share. The ex-dividend date was Friday, March 1st. This represents a $1.88 dividend on an annualized basis and a dividend yield of 1.97%. The Hartford Financial Services Group’s payout ratio is presently 21.36%.

Insider Activity

In other news, EVP Robert W. Paiano sold 14,528 shares of the company’s stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $93.97, for a total transaction of $1,365,196.16. Following the completion of the sale, the executive vice president now directly owns 46,792 shares in the company, valued at approximately $4,397,044.24. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, CFO Beth Ann Costello sold 38,915 shares of The Hartford Financial Services Group stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of $95.42, for a total transaction of $3,713,269.30. Following the sale, the chief financial officer now directly owns 69,169 shares in the company, valued at approximately $6,600,105.98. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Robert W. Paiano sold 14,528 shares of the company’s stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $93.97, for a total transaction of $1,365,196.16. Following the completion of the transaction, the executive vice president now owns 46,792 shares of the company’s stock, valued at $4,397,044.24. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 106,501 shares of company stock worth $10,141,126. Corporate insiders own 1.60% of the company’s stock.

The Hartford Financial Services Group Company 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.