GAMMA Investing LLC Makes New $477,000 Investment in The Hartford Financial Services Group, Inc. (NYSE:HIG)

GAMMA Investing LLC acquired a new stake in shares of The Hartford Financial Services Group, Inc. (NYSE:HIG) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 5,491 shares of the insurance provider’s stock, valued at approximately $477,000.

A number of other large investors have also recently made changes to their positions in the stock. Illinois Municipal Retirement Fund lifted its stake in The Hartford Financial Services Group by 12.8% in the 4th quarter. Illinois Municipal Retirement Fund now owns 180,374 shares of the insurance provider’s stock valued at $14,498,000 after buying an additional 20,462 shares in the last quarter. Foster & Motley Inc. raised its holdings in The Hartford Financial Services Group by 6.6% in the 4th quarter. Foster & Motley Inc. now owns 104,690 shares of the insurance provider’s stock valued at $8,415,000 after acquiring an additional 6,476 shares during the last quarter. MCF Advisors LLC raised its holdings in The Hartford Financial Services Group by 20.6% in the 4th quarter. MCF Advisors LLC now owns 3,280 shares of the insurance provider’s stock valued at $265,000 after acquiring an additional 561 shares during the last quarter. Commerzbank Aktiengesellschaft FI acquired a new stake in The Hartford Financial Services Group in the 4th quarter valued at about $227,000. Finally, Cetera Trust Company N.A acquired a new stake in The Hartford Financial Services Group in the 4th quarter valued at about $40,000. 93.42% of the stock is owned by hedge funds and other institutional investors.

The Hartford Financial Services Group Stock Down 0.1 %

Shares of The Hartford Financial Services Group stock traded down $0.06 during trading on Wednesday, hitting $99.97. 791,811 shares of the stock were exchanged, compared to its average volume of 1,782,862. The stock has a market cap of $29.72 billion, a price-to-earnings ratio of 12.52, a price-to-earnings-growth ratio of 1.41 and a beta of 0.89. The firm’s 50-day moving average price is $98.16 and its 200 day moving average price is $85.88. 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 debt-to-equity ratio of 0.29, a current ratio of 0.32 and a quick ratio of 0.32.

The Hartford Financial Services Group (NYSE:HIG) last released its quarterly earnings data on Friday, February 2nd. The insurance provider reported $3.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.44 by $0.62. The business had revenue of $6.40 billion during the quarter, compared to analysts’ expectations of $5.84 billion. The Hartford Financial Services Group had a net margin of 10.21% and a return on equity of 19.82%. The company’s revenue for the quarter was up 6.4% on a year-over-year basis. During the same period in the previous year, the company earned $2.31 EPS. As a group, analysts forecast that The Hartford Financial Services Group, Inc. will post 10.13 earnings per share for the current fiscal year.

The Hartford Financial Services Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 2nd. Stockholders 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 annualized dividend and a dividend yield of 1.88%. The Hartford Financial Services Group’s dividend payout ratio (DPR) is currently 23.53%.

Analyst Upgrades and Downgrades

A number of research firms have commented on HIG. Morgan Stanley increased their price objective on shares of The Hartford Financial Services Group from $94.00 to $110.00 and gave the company an “equal weight” rating in a report on Monday, April 15th. Raymond James restated an “outperform” rating and set a $120.00 price target (up previously from $100.00) on shares of The Hartford Financial Services Group in a report on Monday, April 1st. Roth Mkm raised their price target on shares of The Hartford Financial Services Group from $80.00 to $90.00 and gave the stock a “neutral” rating in a report on Friday, February 2nd. The Goldman Sachs Group increased 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 report on Friday, April 12th. Finally, Evercore ISI increased their price objective on shares of The Hartford Financial Services Group from $96.00 to $104.00 and gave the stock an “in-line” rating in a research report on Thursday, April 11th. Seven research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $105.56.

Insider Transactions 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 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CFO Beth Ann Costello sold 38,915 shares of The Hartford Financial Services Group stock in a transaction 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Adin M. Tooker sold 8,206 shares of The Hartford Financial Services Group stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $95.60, for a total transaction of $784,493.60. Following the sale, the executive vice president now owns 25,820 shares in the company, valued at $2,468,392. The disclosure for this sale can be found here. In the last three months, insiders sold 106,501 shares of company stock valued at $10,141,126. 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.