Los Angeles Capital Management LLC Has $1.31 Million Stock Position in The Hartford Financial Services Group, Inc. (NYSE:HIG)

Los Angeles Capital Management LLC grew its position in The Hartford Financial Services Group, Inc. (NYSE:HIG) by 316.4% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 16,274 shares of the insurance provider’s stock after purchasing an additional 12,366 shares during the period. Los Angeles Capital Management LLC’s holdings in The Hartford Financial Services Group were worth $1,308,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Victory Capital Management Inc. increased its position in The Hartford Financial Services Group by 26.7% during the third quarter. Victory Capital Management Inc. now owns 5,142,167 shares of the insurance provider’s stock worth $364,631,000 after buying an additional 1,083,420 shares during the last quarter. Qube Research & Technologies Ltd increased its holdings in shares of The Hartford Financial Services Group by 144.3% during the 3rd quarter. Qube Research & Technologies Ltd now owns 926,033 shares of the insurance provider’s stock valued at $65,665,000 after acquiring an additional 546,969 shares during the last quarter. Nordea Investment Management AB raised its stake in shares of The Hartford Financial Services Group by 20.2% in the 4th quarter. Nordea Investment Management AB now owns 2,958,172 shares of the insurance provider’s stock valued at $237,600,000 after acquiring an additional 497,916 shares in the last quarter. Great Lakes Advisors LLC lifted its holdings in The Hartford Financial Services Group by 41.5% in the 3rd quarter. Great Lakes Advisors LLC now owns 1,592,479 shares of the insurance provider’s stock worth $112,923,000 after purchasing an additional 467,030 shares during the last quarter. Finally, AQR Capital Management LLC boosted its position in The Hartford Financial Services Group by 23.6% during the third quarter. AQR Capital Management LLC now owns 1,179,682 shares of the insurance provider’s stock worth $83,651,000 after purchasing an additional 224,979 shares during the period. 93.42% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on HIG shares. The Goldman Sachs Group boosted their price objective on shares of The Hartford Financial Services Group from $92.00 to $105.00 and gave the stock a “buy” rating in a research note on Friday, April 12th. Morgan Stanley decreased their price target on shares of 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, April 26th. Citigroup lifted their price objective on The Hartford Financial Services Group from $109.00 to $113.00 and gave the stock a “buy” rating in a research note on Tuesday, April 16th. TD Cowen increased their target price on The Hartford Financial Services Group to $144.00 and gave the company a “buy” rating in a research note on Wednesday, April 3rd. Finally, JPMorgan Chase & Co. upped their price target on The Hartford Financial Services Group from $91.00 to $104.00 and gave the stock a “neutral” rating in a report on Monday, April 8th. Seven investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $105.44.

The Hartford Financial Services Group Stock Performance

Shares of The Hartford Financial Services Group stock opened at $99.70 on Thursday. The firm has a market cap of $29.49 billion, a P/E ratio of 11.33, a P/E/G ratio of 1.40 and a beta of 0.90. The Hartford Financial Services Group, Inc. has a fifty-two week low of $67.42 and a fifty-two week high of $103.64. The company has a debt-to-equity ratio of 0.29, a current ratio of 0.31 and a quick ratio of 0.31. The firm has a 50 day simple moving average of $98.96 and a 200 day simple moving average of $87.74.

The Hartford Financial Services Group (NYSE:HIG) last posted its quarterly earnings results on Thursday, April 25th. The insurance provider reported $2.34 earnings per share for the quarter, missing analysts’ consensus estimates of $2.43 by ($0.09). The Hartford Financial Services Group had a return on equity of 20.64% and a net margin of 10.87%. The business had revenue of $6.42 billion for the quarter, compared to the consensus estimate of $6.51 billion. During the same period last year, the firm earned $1.68 earnings per share. The company’s quarterly revenue was up 8.6% on a year-over-year basis. Sell-side analysts predict that The Hartford Financial Services Group, Inc. will post 10.01 earnings per share for the current fiscal year.

The Hartford Financial Services Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 2nd. Shareholders of record on Monday, March 4th were issued a dividend of $0.47 per share. The ex-dividend date of this dividend was Friday, March 1st. This represents a $1.88 annualized dividend and a yield of 1.89%. The Hartford Financial Services Group’s dividend payout ratio is presently 21.36%.

Insider Activity at The Hartford Financial Services Group

In related news, CFO Beth Ann Costello sold 38,915 shares of The Hartford Financial Services Group stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $95.42, for a total value of $3,713,269.30. Following the sale, the chief financial officer now owns 69,169 shares of the company’s stock, valued at $6,600,105.98. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, EVP Robert W. Paiano sold 14,528 shares of the firm’s stock in a transaction dated 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 sale, the executive vice president now 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 link. Also, CFO Beth Ann Costello sold 38,915 shares of the business’s stock in a transaction on Tuesday, February 27th. The shares were sold at an average price of $95.42, for a total value of $3,713,269.30. Following the completion of the sale, the chief financial officer now owns 69,169 shares of the company’s stock, valued at $6,600,105.98. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 90,169 shares of company stock valued at $8,676,992. 1.60% of the stock is owned by corporate insiders.

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.