Envestnet Portfolio Solutions Inc. Sells 2,928 Shares of The Hartford Financial Services Group, Inc. (NYSE:HIG)

Envestnet Portfolio Solutions Inc. reduced its stake in The Hartford Financial Services Group, Inc. (NYSE:HIG) by 5.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 48,521 shares of the insurance provider’s stock after selling 2,928 shares during the period. Envestnet Portfolio Solutions Inc.’s holdings in The Hartford Financial Services Group were worth $5,308,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Thurston Springer Miller Herd & Titak Inc. raised its stake in The Hartford Financial Services Group by 3,342.9% in the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 241 shares of the insurance provider’s stock worth $26,000 after buying an additional 234 shares in the last quarter. Barrett & Company Inc. raised its stake in 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. BNP Paribas bought a new position in The Hartford Financial Services Group in the third quarter worth about $35,000. DT Investment Partners LLC raised its stake in The Hartford Financial Services Group by 49.8% in the fourth quarter. DT Investment Partners LLC now owns 331 shares of the insurance provider’s stock worth $36,000 after buying an additional 110 shares in the last quarter. Finally, Key Financial Inc raised its stake in The Hartford Financial Services Group by 526.3% in the fourth quarter. Key Financial Inc now owns 357 shares of the insurance provider’s stock worth $39,000 after buying an additional 300 shares in the last quarter. 93.42% of the stock is owned by institutional investors.

The Hartford Financial Services Group Stock Down 1.4 %

HIG opened at $118.81 on Wednesday. The company has a market capitalization of $33.91 billion, a PE ratio of 11.48, a PEG ratio of 1.12 and a beta of 0.91. The Hartford Financial Services Group, Inc. has a 1-year low of $94.47 and a 1-year high of $124.90. The firm’s 50 day simple moving average is $113.69 and its two-hundred day simple moving average is $114.96. 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 Hartford Financial Services Group (NYSE:HIG) last announced its quarterly earnings data on Thursday, January 30th. The insurance provider reported $2.94 EPS for the quarter, beating 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%. As a group, equities analysts forecast 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 declared a quarterly dividend, which will be paid on Wednesday, April 2nd. Shareholders of record on Monday, March 3rd will be issued a $0.52 dividend. The ex-dividend date is Monday, March 3rd. This represents a $2.08 dividend on an annualized basis and a yield of 1.75%. The Hartford Financial Services Group’s dividend payout ratio is currently 20.10%.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the stock. BMO Capital Markets upped their price objective on shares of The Hartford Financial Services Group from $100.00 to $141.00 and gave the stock a “market perform” rating in a report on Wednesday, November 27th. Royal Bank of Canada restated a “sector perform” rating and issued a $125.00 price objective on shares of The Hartford Financial Services Group in a report on Monday, February 3rd. Barclays upgraded shares of The Hartford Financial Services Group from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $130.00 to $135.00 in a report on Monday, January 6th. Keefe, Bruyette & Woods upped their price objective on shares of The Hartford Financial Services Group from $139.00 to $140.00 and gave the stock an “outperform” rating in a report on Wednesday, February 5th. Finally, Wells Fargo & Company cut 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 report on Monday, February 3rd. Ten equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $122.94.

Insider Buying and Selling at The Hartford Financial Services Group

In other The Hartford Financial Services Group news, EVP Robert W. Paiano sold 13,138 shares of The Hartford Financial Services Group stock in a transaction on Tuesday, March 11th. The shares were 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 directly owns 31,678 shares in the company, valued at approximately $3,712,661.60. The trade was a 29.32 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 1.60% of the stock is currently owned by insiders.

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.