AGF Management Ltd. Sells 6,026 Shares of The Hartford Financial Services Group, Inc. (NYSE:HIG)

AGF Management Ltd. reduced its stake in The Hartford Financial Services Group, Inc. (NYSE:HIG) by 22.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 21,284 shares of the insurance provider’s stock after selling 6,026 shares during the period. AGF Management Ltd.’s holdings in The Hartford Financial Services Group were worth $2,328,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in the business. Victory Capital Management Inc. boosted its stake in The Hartford Financial Services Group by 4.5% during the fourth 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 period. Nordea Investment Management AB lifted its stake in The Hartford Financial Services Group by 17.3% during the fourth quarter. Nordea Investment Management AB now owns 3,938,421 shares of the insurance provider’s stock worth $430,272,000 after purchasing an additional 581,103 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in The Hartford Financial Services Group by 2.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,913,914 shares of the insurance provider’s stock worth $209,382,000 after purchasing an additional 39,585 shares during the last quarter. Bahl & Gaynor Inc. lifted its stake in The Hartford Financial Services Group by 8.5% during the fourth quarter. Bahl & Gaynor Inc. now owns 1,457,147 shares of the insurance provider’s stock worth $159,412,000 after purchasing an additional 114,716 shares during the last quarter. Finally, Robeco Institutional Asset Management B.V. lifted its stake in The Hartford Financial Services Group by 2.9% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 1,234,480 shares of the insurance provider’s stock worth $135,052,000 after purchasing an additional 34,938 shares during the last quarter. Institutional investors own 93.42% of the company’s stock.

The Hartford Financial Services Group Stock Up 2.2 %

Shares of NYSE:HIG opened at $119.06 on Friday. The Hartford Financial Services Group, Inc. has a 1 year low of $94.47 and a 1 year high of $124.90. The company has a market cap of $33.98 billion, a PE ratio of 11.50, a P/E/G ratio of 1.12 and a beta of 0.91. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.32 and a quick ratio of 0.32. The stock’s 50-day moving average is $113.25 and its 200 day moving average is $114.90.

The Hartford Financial Services Group (NYSE:HIG) last posted its quarterly earnings data on Thursday, January 30th. The insurance provider reported $2.94 earnings per share for the quarter, beating the consensus estimate of $2.68 by $0.26. The Hartford Financial Services Group had a return on equity of 19.55% and a net margin of 11.72%. Sell-side analysts anticipate that The Hartford Financial Services Group, Inc. will post 11.11 EPS for the current year.

The Hartford Financial Services Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 2nd. Stockholders of record on Monday, March 3rd will be paid a $0.52 dividend. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $2.08 annualized dividend and a dividend yield of 1.75%. The Hartford Financial Services Group’s dividend payout ratio (DPR) is 20.10%.

Analysts Set New Price Targets

Several brokerages have issued reports on HIG. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $125.00 price target on shares of The Hartford Financial Services Group in a research note on Monday, February 3rd. BMO Capital Markets lifted their price target on The Hartford Financial Services Group from $100.00 to $141.00 and gave the stock a “market perform” rating in a research note on Wednesday, November 27th. Wells Fargo & Company dropped their price target on The Hartford Financial Services Group from $130.00 to $126.00 and set an “overweight” rating for the company in a research note on Monday, February 3rd. StockNews.com raised The Hartford Financial Services Group from a “hold” rating to a “buy” rating in a research note on Monday, March 10th. Finally, Barclays upgraded The Hartford Financial Services Group from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $130.00 to $135.00 in a report on Monday, January 6th. Nine research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, The Hartford Financial Services Group presently has an average rating of “Moderate Buy” and an average price target of $122.94.

Insider Transactions at The Hartford Financial Services Group

In other news, 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 completion of the sale, the executive vice president now directly owns 31,678 shares in the company, valued at $3,712,661.60. This represents a 29.32 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. 1.60% of the stock is currently owned by company 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.