Delta Asset Management LLC TN Lowers Position in The Hartford Financial Services Group, Inc. (NYSE:HIG)

Delta Asset Management LLC TN reduced its position in shares of The Hartford Financial Services Group, Inc. (NYSE:HIG) by 28.6% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,000 shares of the insurance provider’s stock after selling 400 shares during the period. Delta Asset Management LLC TN’s holdings in The Hartford Financial Services Group were worth $109,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Great Valley Advisor Group Inc. lifted its holdings in shares of The Hartford Financial Services Group by 7.7% in the 3rd quarter. Great Valley Advisor Group Inc. now owns 2,557 shares of the insurance provider’s stock valued at $300,000 after buying an additional 182 shares during the period. Cerity Partners LLC lifted its holdings in The Hartford Financial Services Group by 9.9% in the third quarter. Cerity Partners LLC now owns 67,445 shares of the insurance provider’s stock valued at $7,932,000 after acquiring an additional 6,094 shares during the period. Summit Trail Advisors LLC boosted its position in shares of The Hartford Financial Services Group by 3.7% during the 3rd quarter. Summit Trail Advisors LLC now owns 3,445 shares of the insurance provider’s stock worth $407,000 after purchasing an additional 122 shares in the last quarter. Daiwa Securities Group Inc. grew its stake in shares of The Hartford Financial Services Group by 13.1% during the 3rd quarter. Daiwa Securities Group Inc. now owns 36,753 shares of the insurance provider’s stock worth $4,323,000 after purchasing an additional 4,254 shares during the period. Finally, Fisher Asset Management LLC acquired a new stake in shares of The Hartford Financial Services Group in the third quarter valued at about $340,000. Institutional investors and hedge funds own 93.42% of the company’s stock.

Wall Street Analyst Weigh In

HIG has been the topic of several recent analyst reports. Royal Bank of Canada restated a “sector perform” rating and set a $125.00 target price on shares of The Hartford Financial Services Group in a research report on Monday, February 3rd. BMO Capital Markets raised their price objective on The Hartford Financial Services Group from $100.00 to $141.00 and gave the company a “market perform” rating in a research note on Wednesday, November 27th. StockNews.com downgraded The Hartford Financial Services Group from a “buy” rating to a “hold” rating in a research report on Tuesday, March 18th. Keefe, Bruyette & Woods raised their price target on The Hartford Financial Services Group from $139.00 to $140.00 and gave the company an “outperform” rating in a research report on Wednesday, February 5th. Finally, Wells Fargo & Company lowered their price objective on shares of The Hartford Financial Services Group from $130.00 to $126.00 and set an “overweight” rating on the stock in a research note on Monday, February 3rd. Ten analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, The Hartford Financial Services Group presently has a consensus rating of “Moderate Buy” and a consensus target price of $122.94.

Insider Transactions at The Hartford Financial Services Group

In related news, EVP Robert W. Paiano sold 13,138 shares of The Hartford Financial Services Group stock in a transaction dated 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 approximately $3,712,661.60. This trade represents a 29.32 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Christopher Swift sold 98,061 shares of the stock in a transaction on Monday, March 17th. The shares were sold at an average price of $120.39, for a total value of $11,805,563.79. Following the completion of the sale, the chief executive officer now owns 211,082 shares of the company’s stock, valued at $25,412,161.98. The trade was a 31.72 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.60% of the company’s stock.

The Hartford Financial Services Group Price Performance

Shares of HIG stock opened at $122.60 on Thursday. The Hartford Financial Services Group, Inc. has a twelve month low of $94.47 and a twelve month high of $124.90. The firm has a fifty day simple moving average of $115.10 and a 200-day simple moving average of $115.18. The company has a current ratio of 0.32, a quick ratio of 0.32 and a debt-to-equity ratio of 0.27. The company has a market capitalization of $34.99 billion, a PE ratio of 11.85, a price-to-earnings-growth ratio of 1.12 and a beta of 0.91.

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 the consensus estimate 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 anticipate that The Hartford Financial Services Group, Inc. will post 11.11 earnings per share for the current fiscal year.

The Hartford Financial Services Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 2nd. Shareholders of record on Monday, March 3rd will be paid a dividend of $0.52 per share. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $2.08 annualized dividend and a yield of 1.70%. The Hartford Financial Services Group’s payout ratio is 20.10%.

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.