Avantax Advisory Services Inc. Has $1.77 Million Stake in The Hartford Financial Services Group, Inc. (NYSE:HIG)

Avantax Advisory Services Inc. lowered its stake in The Hartford Financial Services Group, Inc. (NYSE:HIG) by 1.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 16,195 shares of the insurance provider’s stock after selling 221 shares during the quarter. Avantax Advisory Services Inc.’s holdings in The Hartford Financial Services Group were worth $1,772,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in HIG. HighTower Advisors LLC boosted its position in The Hartford Financial Services Group by 7.1% in the third quarter. HighTower Advisors LLC now owns 111,134 shares of the insurance provider’s stock valued at $13,063,000 after buying an additional 7,350 shares in the last quarter. Dai ichi Life Insurance Company Ltd boosted its holdings in shares of The Hartford Financial Services Group by 3.3% during the 3rd quarter. Dai ichi Life Insurance Company Ltd now owns 137,506 shares of the insurance provider’s stock valued at $16,172,000 after acquiring an additional 4,449 shares in the last quarter. Horizon Advisory Services Inc. bought a new stake in The Hartford Financial Services Group during the 4th quarter worth $277,000. Zurich Insurance Group Ltd FI acquired a new position in The Hartford Financial Services Group in the 3rd quarter worth about $19,005,000. Finally, Citigroup Inc. raised its position in The Hartford Financial Services Group by 3.5% in the third quarter. Citigroup Inc. now owns 314,849 shares of the insurance provider’s stock valued at $37,029,000 after purchasing an additional 10,566 shares during the last quarter. 93.42% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at The Hartford Financial Services Group

In other The Hartford Financial Services Group news, EVP Robert W. Paiano sold 13,138 shares of the firm’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 completion of the sale, the executive vice president now owns 31,678 shares of the company’s stock, valued at approximately $3,712,661.60. This trade represents a 29.32 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 1.60% of the stock is currently owned by corporate insiders.

The Hartford Financial Services Group Price Performance

Shares of HIG opened at $120.48 on Tuesday. The firm has a market cap of $34.38 billion, a PE ratio of 11.64, a price-to-earnings-growth ratio of 1.12 and a beta of 0.91. The Hartford Financial Services Group, Inc. has a 52-week low of $94.47 and a 52-week 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 business’s 50 day moving average price is $113.49 and its two-hundred day moving average price is $114.94.

The Hartford Financial Services Group (NYSE:HIG) last released its earnings results on Thursday, January 30th. The insurance provider reported $2.94 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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%. On average, equities 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 company also recently announced 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 is Monday, March 3rd. This represents a $2.08 annualized dividend and a dividend yield of 1.73%. The Hartford Financial Services Group’s dividend payout ratio is presently 20.10%.

Analysts Set New Price Targets

Several research analysts have recently issued reports on HIG shares. StockNews.com downgraded The Hartford Financial Services Group from a “buy” rating to a “hold” rating in a research note on Tuesday. Barclays raised shares of The Hartford Financial Services Group from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $130.00 to $135.00 in a research note on Monday, January 6th. Wells Fargo & Company cut their price target 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. Keefe, Bruyette & Woods increased their price objective on The Hartford Financial Services Group from $139.00 to $140.00 and gave the company an “outperform” rating in a report on Wednesday, February 5th. Finally, BMO Capital Markets lifted their target price on 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. Ten analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $122.94.

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.