Alliancebernstein L.P. Cuts Stake in The Hartford Financial Services Group, Inc. (NYSE:HIG)

Alliancebernstein L.P. trimmed its stake in The Hartford Financial Services Group, Inc. (NYSE:HIG) by 2.5% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 350,366 shares of the insurance provider’s stock after selling 8,904 shares during the quarter. Alliancebernstein L.P. owned about 0.12% of The Hartford Financial Services Group worth $38,330,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. HighTower Advisors LLC increased its stake in The Hartford Financial Services Group by 7.1% during the third quarter. HighTower Advisors LLC now owns 111,134 shares of the insurance provider’s stock worth $13,063,000 after acquiring an additional 7,350 shares during the last quarter. Integrated Wealth Concepts LLC increased its position in The Hartford Financial Services Group by 3.2% during the 3rd quarter. Integrated Wealth Concepts LLC now owns 6,930 shares of the insurance provider’s stock worth $815,000 after purchasing an additional 213 shares in the last quarter. Royal London Asset Management Ltd. increased its position in The Hartford Financial Services Group by 8.9% during the 3rd quarter. Royal London Asset Management Ltd. now owns 216,487 shares of the insurance provider’s stock worth $25,461,000 after purchasing an additional 17,782 shares in the last quarter. Quantinno Capital Management LP raised its holdings in The Hartford Financial Services Group by 21.6% in the third quarter. Quantinno Capital Management LP now owns 18,744 shares of the insurance provider’s stock valued at $2,205,000 after buying an additional 3,334 shares during the period. Finally, Kovitz Investment Group Partners LLC grew its stake in The Hartford Financial Services Group by 353.8% during the third quarter. Kovitz Investment Group Partners LLC now owns 11,971 shares of the insurance provider’s stock worth $1,408,000 after buying an additional 9,333 shares during the period. Institutional investors and hedge funds own 93.42% of the company’s stock.

The Hartford Financial Services Group Trading Down 8.0 %

Shares of NYSE HIG opened at $113.56 on Friday. The stock has a market capitalization of $32.41 billion, a P/E ratio of 10.97, a PEG ratio of 1.12 and a beta of 0.68. The stock’s 50 day moving average price is $116.56 and its two-hundred day moving average price is $115.48. The company has a quick ratio of 0.32, a current ratio of 0.32 and a debt-to-equity ratio of 0.27. The Hartford Financial Services Group, Inc. has a 52-week low of $94.47 and a 52-week high of $125.08.

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

The Hartford Financial Services Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, April 2nd. Investors of record on Monday, March 3rd were paid a dividend of $0.52 per share. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $2.08 annualized dividend and a yield of 1.83%. The Hartford Financial Services Group’s dividend payout ratio (DPR) is 20.10%.

Analyst Ratings Changes

A number of brokerages have recently commented on HIG. Barclays raised shares of The Hartford Financial Services Group from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $130.00 to $135.00 in a research note on Monday, January 6th. Royal Bank of Canada reissued a “sector perform” rating and issued a $125.00 price objective on shares of The Hartford Financial Services Group in a research report on Monday, February 3rd. Keefe, Bruyette & Woods upped their target price on The Hartford Financial Services Group from $139.00 to $140.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 5th. StockNews.com downgraded The Hartford Financial Services Group from a “buy” rating to a “hold” rating in a report on Tuesday, March 18th. Finally, Wells Fargo & Company decreased 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 report on Monday, February 3rd. Ten investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $123.47.

Insiders Place Their Bets

In other news, EVP Robert W. Paiano sold 13,138 shares of the stock in a transaction that occurred on Tuesday, March 11th. The stock was sold at an average price of $117.20, for a total transaction 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. This represents a 29.32 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Christopher Swift sold 1,144 shares of the business’s stock in a transaction that occurred on Wednesday, April 2nd. The shares were sold at an average price of $125.00, for a total value of $143,000.00. Following the transaction, the chief executive officer now owns 211,082 shares of the company’s stock, valued at $26,385,250. This represents a 0.54 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 112,343 shares of company stock valued at $13,488,337 over the last quarter. Insiders own 1.60% of the company’s stock.

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.