Geode Capital Management LLC Acquires 81,495 Shares of The Hartford Financial Services Group, Inc. (NYSE:HIG)

Geode Capital Management LLC increased its stake in The Hartford Financial Services Group, Inc. (NYSE:HIG) by 1.1% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,251,389 shares of the insurance provider’s stock after acquiring an additional 81,495 shares during the quarter. Geode Capital Management LLC owned 2.50% of The Hartford Financial Services Group worth $792,796,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Thurston Springer Miller Herd & Titak Inc. raised its holdings in shares of The Hartford Financial Services Group by 3,342.9% during the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 241 shares of the insurance provider’s stock valued at $26,000 after purchasing an additional 234 shares during the period. Barrett & Company Inc. raised its stake in The Hartford Financial Services Group by 46.5% during the 4th quarter. Barrett & Company Inc. now owns 293 shares of the insurance provider’s stock worth $32,000 after buying an additional 93 shares during the period. DT Investment Partners LLC boosted its holdings 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 acquiring an additional 110 shares in the last quarter. Flagship Wealth Advisors LLC acquired a new stake in The Hartford Financial Services Group in the fourth quarter valued at approximately $36,000. Finally, Key Financial Inc increased its holdings in shares of The Hartford Financial Services Group by 526.3% during the fourth quarter. Key Financial Inc now owns 357 shares of the insurance provider’s stock valued at $39,000 after acquiring an additional 300 shares in the last quarter. Institutional investors and hedge funds own 93.42% of the company’s stock.

Insider Buying and Selling

In other The Hartford Financial Services Group news, CEO Christopher Swift sold 98,061 shares of The Hartford Financial Services Group stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $120.39, for a total transaction of $11,805,563.79. Following the completion of the sale, the chief executive officer now owns 211,082 shares of the company’s stock, valued at $25,412,161.98. The trade was a 31.72 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Robert W. Paiano sold 13,138 shares of the stock in a transaction dated 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 transaction, the executive vice president now owns 31,678 shares in the company, valued at $3,712,661.60. This trade represents a 29.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.60% of the stock is owned by company insiders.

The Hartford Financial Services Group Stock Performance

The Hartford Financial Services Group stock opened at $124.98 on Thursday. The Hartford Financial Services Group, Inc. has a 1-year low of $94.47 and a 1-year high of $125.08. 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 firm has a market capitalization of $35.67 billion, a PE ratio of 12.08, a price-to-earnings-growth ratio of 1.12 and a beta of 0.91. The firm’s 50 day simple moving average is $116.27 and its 200 day simple moving average is $115.46.

The Hartford Financial Services Group (NYSE:HIG) last released its quarterly earnings results on Thursday, January 30th. The insurance provider reported $2.94 earnings per share for the quarter, topping 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, analysts expect that The Hartford Financial Services Group, Inc. will post 11.11 earnings per share for the current fiscal year.

The Hartford Financial Services Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 2nd. Stockholders of record on Monday, March 3rd were given a dividend of $0.52 per share. The ex-dividend date was Monday, March 3rd. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.66%. The Hartford Financial Services Group’s dividend payout ratio (DPR) is presently 20.10%.

Wall Street Analysts Forecast Growth

HIG has been the subject of several research reports. Wells Fargo & Company reduced their price target on shares of The Hartford Financial Services Group from $130.00 to $126.00 and set an “overweight” rating for the company in a research report on Monday, February 3rd. Raymond James lifted their price objective on shares of The Hartford Financial Services Group from $125.00 to $135.00 and gave the company an “outperform” rating in a report on Monday. Royal Bank of Canada restated a “sector perform” rating and issued a $125.00 target price on shares of The Hartford Financial Services Group in a report on Monday, February 3rd. Keefe, Bruyette & Woods boosted their price objective on 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, StockNews.com cut The Hartford Financial Services Group from a “buy” rating to a “hold” rating in a research report on Tuesday, March 18th. Ten equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $124.61.

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.