Metis Global Partners LLC Reduces Stock Position in The Hartford Financial Services Group, Inc. (NYSE:HIG)

Metis Global Partners LLC lessened its stake in shares of The Hartford Financial Services Group, Inc. (NYSE:HIG) by 6.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 17,505 shares of the insurance provider’s stock after selling 1,251 shares during the quarter. Metis Global Partners LLC’s holdings in The Hartford Financial Services Group were worth $1,407,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in HIG. National Bank of Canada FI boosted its holdings in shares of The Hartford Financial Services Group by 4.4% in the fourth quarter. National Bank of Canada FI now owns 78,654 shares of the insurance provider’s stock worth $6,402,000 after buying an additional 3,297 shares during the last quarter. LSV Asset Management boosted its holdings in shares of The Hartford Financial Services Group by 3.5% in the fourth quarter. LSV Asset Management now owns 4,821,885 shares of the insurance provider’s stock worth $387,583,000 after buying an additional 165,190 shares during the last quarter. M&T Bank Corp boosted its holdings in shares of The Hartford Financial Services Group by 11.3% in the fourth quarter. M&T Bank Corp now owns 35,025 shares of the insurance provider’s stock worth $2,815,000 after buying an additional 3,569 shares during the last quarter. Summit Global Investments boosted its holdings in shares of The Hartford Financial Services Group by 4.1% in the fourth quarter. Summit Global Investments now owns 20,259 shares of the insurance provider’s stock worth $1,628,000 after buying an additional 798 shares during the last quarter. Finally, Los Angeles Capital Management LLC boosted its holdings in shares of The Hartford Financial Services Group by 316.4% in the fourth quarter. Los Angeles Capital Management LLC now owns 16,274 shares of the insurance provider’s stock worth $1,308,000 after buying an additional 12,366 shares during the last quarter. Hedge funds and other institutional investors own 93.42% of the company’s stock.

The Hartford Financial Services Group Price Performance

HIG stock opened at $99.70 on Thursday. The Hartford Financial Services Group, Inc. has a one year low of $67.42 and a one year high of $103.64. The company’s fifty day moving average price is $98.96 and its 200-day moving average price is $87.74. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.31 and a current ratio of 0.31. The company has a market capitalization of $29.49 billion, a PE ratio of 11.33, a price-to-earnings-growth ratio of 1.40 and a beta of 0.90.

The Hartford Financial Services Group (NYSE:HIG) last released its quarterly earnings results on Thursday, April 25th. The insurance provider reported $2.34 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.43 by ($0.09). The business had revenue of $6.42 billion for the quarter, compared to analysts’ expectations of $6.51 billion. The Hartford Financial Services Group had a net margin of 10.87% and a return on equity of 20.64%. The Hartford Financial Services Group’s revenue for the quarter was up 8.6% compared to the same quarter last year. During the same period in the previous year, the company earned $1.68 EPS. On average, equities analysts anticipate that The Hartford Financial Services Group, Inc. will post 10.01 EPS for the current fiscal year.

The Hartford Financial Services Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 2nd. Investors of record on Monday, March 4th were paid a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a yield of 1.89%. The ex-dividend date was Friday, March 1st. The Hartford Financial Services Group’s payout ratio is 21.36%.

Insider Activity at The Hartford Financial Services Group

In related news, EVP Robert W. Paiano sold 14,528 shares of the company’s stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $93.97, for a total transaction of $1,365,196.16. Following the sale, the executive vice president now owns 46,792 shares of the company’s stock, valued at $4,397,044.24. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other The Hartford Financial Services Group news, EVP Robert W. Paiano sold 14,528 shares of the business’s stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $93.97, for a total transaction of $1,365,196.16. Following the transaction, the executive vice president now owns 46,792 shares in the company, valued at $4,397,044.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Michael R. Fisher sold 27,004 shares of the business’s stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $98.90, for a total transaction of $2,670,695.60. Following the transaction, the executive vice president now owns 18,906 shares in the company, valued at approximately $1,869,803.40. The disclosure for this sale can be found here. Insiders have sold a total of 90,169 shares of company stock valued at $8,676,992 over the last 90 days. 1.60% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of equities analysts recently issued reports on HIG shares. Royal Bank of Canada raised their price objective on shares of The Hartford Financial Services Group from $77.00 to $95.00 and gave the stock a “sector perform” rating in a report on Monday, February 5th. Wells Fargo & Company lowered their price target on shares of The Hartford Financial Services Group from $117.00 to $111.00 and set an “overweight” rating on the stock in a report on Monday, April 29th. TD Cowen lifted their price target on shares of The Hartford Financial Services Group to $144.00 and gave the company a “buy” rating in a report on Wednesday, April 3rd. The Goldman Sachs Group lifted their price target on shares of The Hartford Financial Services Group from $92.00 to $105.00 and gave the company a “buy” rating in a report on Friday, April 12th. Finally, Evercore ISI lifted their price target on shares of The Hartford Financial Services Group from $96.00 to $104.00 and gave the company an “in-line” rating in a report on Thursday, April 11th. Seven analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $105.44.

About The Hartford Financial Services Group

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.