Prudential Financial Inc. Has $21.46 Million Position in The Hartford Financial Services Group, Inc. (NYSE:HIG)

Prudential Financial Inc. cut its holdings in The Hartford Financial Services Group, Inc. (NYSE:HIG) by 12.3% in the fourth quarter, Holdings Channel.com reports. The fund owned 196,138 shares of the insurance provider’s stock after selling 27,436 shares during the quarter. Prudential Financial Inc.’s holdings in The Hartford Financial Services Group were worth $21,457,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in HIG. Thurston Springer Miller Herd & Titak Inc. boosted its holdings 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 purchasing an additional 234 shares in the last quarter. Barrett & Company Inc. lifted its position in shares of 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 during the last quarter. BNP Paribas acquired a new position in shares of The Hartford Financial Services Group during the 3rd quarter valued at about $35,000. DT Investment Partners LLC raised its stake in shares of The Hartford Financial Services Group by 49.8% in the 4th quarter. DT Investment Partners LLC now owns 331 shares of the insurance provider’s stock valued at $36,000 after acquiring an additional 110 shares in the last quarter. Finally, Flagship Wealth Advisors LLC acquired a new stake in The Hartford Financial Services Group in the 4th quarter worth approximately $36,000. 93.42% of the stock is owned by institutional investors.

The Hartford Financial Services Group Price Performance

Shares of The Hartford Financial Services Group stock opened at $122.60 on Thursday. The Hartford Financial Services Group, Inc. has a twelve month low of $94.47 and a twelve month high of $124.90. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.32 and a current ratio of 0.32. The firm has a market cap of $34.99 billion, a P/E ratio of 11.85, a price-to-earnings-growth ratio of 1.12 and a beta of 0.91. The firm’s 50-day simple moving average is $115.10 and its 200-day simple moving average is $115.18.

The Hartford Financial Services Group (NYSE:HIG) last issued its earnings results on Thursday, January 30th. The insurance provider reported $2.94 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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%. As a group, research analysts expect that The Hartford Financial Services Group, Inc. will post 11.11 EPS for the current fiscal year.

The Hartford Financial Services Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 2nd. Shareholders of record on Monday, March 3rd will be issued a dividend of $0.52 per share. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.70%. The Hartford Financial Services Group’s payout ratio is presently 20.10%.

Analysts Set New Price Targets

HIG has been the topic of a number of recent analyst reports. BMO Capital Markets lifted their price target on shares of The Hartford Financial Services Group from $100.00 to $141.00 and gave the company a “market perform” rating in a research report on Wednesday, November 27th. Keefe, Bruyette & Woods lifted their target price 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. Barclays upgraded shares of The Hartford Financial Services Group from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $130.00 to $135.00 in a report on Monday, January 6th. StockNews.com lowered The Hartford Financial Services Group from a “buy” rating to a “hold” rating in a research note on Tuesday, March 18th. Finally, Wells Fargo & Company decreased their target price 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. Ten equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $122.94.

Insider Transactions at The Hartford Financial Services Group

In other news, EVP Robert W. Paiano sold 13,138 shares of the business’s stock in a transaction that occurred 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 transaction, the executive vice president now directly owns 31,678 shares of the company’s stock, valued at $3,712,661.60. The trade was a 29.32 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Christopher Swift sold 98,061 shares of the firm’s stock in a transaction on Monday, March 17th. The shares were sold at an average price of $120.39, for a total value of $11,805,563.79. Following the sale, the chief executive officer now directly owns 211,082 shares of the company’s stock, valued at $25,412,161.98. This represents a 31.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.60% of the stock is 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.