SG Americas Securities LLC Boosts Stake in The Hartford Financial Services Group, Inc. (NYSE:HIG)

SG Americas Securities LLC raised its position in The Hartford Financial Services Group, Inc. (NYSE:HIG) by 7,017.3% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 129,819 shares of the insurance provider’s stock after buying an additional 127,995 shares during the period. SG Americas Securities LLC’s holdings in The Hartford Financial Services Group were worth $16,063,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Horizon Advisory Services Inc. purchased a new position in The Hartford Financial Services Group in the 4th quarter valued at about $277,000. Victory Capital Management Inc. boosted its position in The Hartford Financial Services Group by 4.5% in the 4th quarter. Victory Capital Management Inc. now owns 4,701,675 shares of the insurance provider’s stock valued at $514,363,000 after buying an additional 202,487 shares during the last quarter. Suncoast Equity Management purchased a new position in The Hartford Financial Services Group in the 4th quarter valued at about $311,000. Empowered Funds LLC raised its stake in shares of The Hartford Financial Services Group by 62.1% in the 4th quarter. Empowered Funds LLC now owns 28,622 shares of the insurance provider’s stock valued at $3,131,000 after purchasing an additional 10,964 shares in the last quarter. Finally, M&T Bank Corp raised its stake in shares of The Hartford Financial Services Group by 13.9% in the 4th quarter. M&T Bank Corp now owns 46,868 shares of the insurance provider’s stock valued at $5,127,000 after purchasing an additional 5,702 shares in the last quarter. 93.42% of the stock is owned by hedge funds and other institutional investors.

The Hartford Financial Services Group Price Performance

NYSE HIG opened at $124.82 on Wednesday. The Hartford Financial Services Group, Inc. has a 52 week low of $98.16 and a 52 week high of $132.09. 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 stock has a market cap of $35.46 billion, a price-to-earnings ratio of 12.06, a price-to-earnings-growth ratio of 1.12 and a beta of 0.71. The company has a 50-day moving average price of $123.47 and a two-hundred day moving average price of $117.82.

The Hartford Financial Services Group (NYSE:HIG) last posted its quarterly earnings data on Thursday, April 24th. The insurance provider reported $2.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.15 by $0.05. The business had revenue of $6.81 billion during the quarter, compared to analysts’ expectations of $6.97 billion. The Hartford Financial Services Group had a net margin of 11.72% and a return on equity of 19.55%. The business’s revenue was up 6.1% on a year-over-year basis. During the same period last year, the firm posted $2.34 earnings per share. Analysts forecast that The Hartford Financial Services Group, Inc. will post 11.11 EPS for the current year.

The Hartford Financial Services Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 2nd. Stockholders of record on Monday, June 2nd will be issued a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 1.67%. The ex-dividend date of this dividend is Monday, June 2nd. The Hartford Financial Services Group’s dividend payout ratio (DPR) is presently 20.74%.

Analyst Upgrades and Downgrades

HIG has been the topic of a number of recent analyst reports. Wall Street Zen upgraded shares of The Hartford Financial Services Group from a “hold” rating to a “buy” rating in a research note on Tuesday, May 20th. UBS Group upped their target price on shares of The Hartford Financial Services Group from $139.00 to $142.00 and gave the company a “buy” rating in a research note on Monday, April 28th. Barclays upped their target price on shares of The Hartford Financial Services Group from $140.00 to $145.00 and gave the company an “overweight” rating in a research note on Friday, April 25th. Jefferies Financial Group dropped their price objective on shares of The Hartford Financial Services Group from $118.00 to $117.00 and set a “hold” rating on the stock in a research note on Friday, April 11th. Finally, Raymond James increased their price objective on shares of The Hartford Financial Services Group from $125.00 to $135.00 and gave the stock an “outperform” rating in a research note on Monday, March 31st. Seven analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $129.71.

Insider Activity

In related news, SVP Allison G. Niderno sold 1,086 shares of the firm’s stock in a transaction that occurred on Monday, April 28th. The shares were sold at an average price of $119.42, for a total transaction of $129,690.12. Following the completion of the sale, the senior vice president now directly owns 622 shares in the company, valued at approximately $74,279.24. This trade represents a 63.58% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Christopher Swift sold 1,144 shares of the firm’s stock in a transaction that occurred on Wednesday, April 2nd. The stock was sold at an average price of $125.00, for a total transaction of $143,000.00. Following the sale, the chief executive officer now owns 211,082 shares of the company’s stock, valued at $26,385,250. The trade was a 0.54% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 100,291 shares of company stock worth $12,078,254 over the last three months. Corporate insiders own 1.50% 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.