State of Wyoming Boosts Stake in The Hartford Financial Services Group, Inc. (NYSE:HIG)

State of Wyoming increased its position in The Hartford Financial Services Group, Inc. (NYSE:HIG) by 82.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,943 shares of the insurance provider’s stock after buying an additional 2,691 shares during the period. State of Wyoming’s holdings in The Hartford Financial Services Group were worth $650,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the company. Catalyst Financial Partners LLC lifted its position in shares of The Hartford Financial Services Group by 3.0% in the fourth quarter. Catalyst Financial Partners LLC now owns 3,079 shares of the insurance provider’s stock worth $337,000 after buying an additional 90 shares in the last quarter. Barrett & Company Inc. lifted its position in shares of The Hartford Financial Services Group by 46.5% in the fourth quarter. Barrett & Company Inc. now owns 293 shares of the insurance provider’s stock worth $32,000 after buying an additional 93 shares in the last quarter. Wilmington Savings Fund Society FSB lifted its position in shares of The Hartford Financial Services Group by 2.2% in the fourth quarter. Wilmington Savings Fund Society FSB now owns 4,468 shares of the insurance provider’s stock worth $489,000 after buying an additional 97 shares in the last quarter. Lifestyle Asset Management Inc. increased its stake in The Hartford Financial Services Group by 0.9% during the fourth quarter. Lifestyle Asset Management Inc. now owns 11,499 shares of the insurance provider’s stock worth $1,258,000 after acquiring an additional 98 shares during the last quarter. Finally, Smithfield Trust Co increased its stake in The Hartford Financial Services Group by 26.7% during the fourth quarter. Smithfield Trust Co now owns 475 shares of the insurance provider’s stock worth $51,000 after acquiring an additional 100 shares during the last quarter. 93.42% of the stock is currently owned by hedge funds and other institutional investors.

The Hartford Financial Services Group Trading Up 1.4%

HIG opened at $131.09 on Monday. The Hartford Financial Services Group, Inc. has a one year low of $98.16 and a one year high of $132.49. The stock has a market cap of $37.24 billion, a price-to-earnings ratio of 12.67, a P/E/G ratio of 1.12 and a beta of 0.70. The stock’s 50 day moving average price is $120.66 and its 200-day moving average price is $116.32. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.32 and a current ratio of 0.32.

The Hartford Financial Services Group (NYSE:HIG) last announced its quarterly earnings data on Thursday, April 24th. The insurance provider reported $2.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.15 by $0.05. The Hartford Financial Services Group had a return on equity of 19.55% and a net margin of 11.72%. The company had revenue of $6.81 billion for the quarter, compared to analysts’ expectations of $6.97 billion. During the same quarter in the prior year, the firm earned $2.34 earnings per share. The Hartford Financial Services Group’s revenue was up 6.1% compared to the same quarter last year. On average, equities 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 company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 2nd. Investors of record on Monday, March 3rd were paid a $0.52 dividend. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $2.08 annualized dividend and a yield of 1.59%. The Hartford Financial Services Group’s dividend payout ratio (DPR) is currently 20.74%.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on HIG shares. UBS Group boosted their price objective on The Hartford Financial Services Group from $139.00 to $142.00 and gave the stock a “buy” rating in a research note on Monday, April 28th. JPMorgan Chase & Co. boosted their price objective on The Hartford Financial Services Group from $125.00 to $129.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 8th. Wells Fargo & Company reduced their price objective on The Hartford Financial Services Group from $126.00 to $125.00 and set an “overweight” rating on the stock in a research note on Thursday, April 10th. StockNews.com cut The Hartford Financial Services Group from a “buy” rating to a “hold” rating in a research note on Monday, May 12th. Finally, Jefferies Financial Group reduced their price objective on 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. Eight research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $128.07.

Insider Buying and Selling

In related news, CEO Christopher Swift sold 98,061 shares of the stock in a transaction that occurred on 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 transaction, the chief executive officer now owns 211,082 shares of the company’s stock, valued at $25,412,161.98. This represents a 31.72% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 sale, the executive vice president now owns 31,678 shares of the company’s stock, valued at approximately $3,712,661.60. This represents a 29.32% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 113,429 shares of company stock valued at $13,618,028 over the last quarter. 1.50% of the stock is owned by corporate insiders.

The Hartford Financial Services Group 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.