MetLife Investment Advisors LLC cut its holdings in shares of Hartford Financial Services Group Inc (NYSE:HIG) by 1.6% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 102,589 shares of the insurance provider’s stock after selling 1,675 shares during the period. MetLife Investment Advisors LLC’s holdings in Hartford Financial Services Group were worth $4,560,000 as of its most recent SEC filing.
Other large investors have also bought and sold shares of the company. Founders Capital Management purchased a new stake in shares of Hartford Financial Services Group during the 4th quarter worth $27,000. Dubuque Bank & Trust Co. purchased a new stake in Hartford Financial Services Group in the fourth quarter valued at $29,000. Rational Advisors LLC lifted its position in Hartford Financial Services Group by 87.8% in the fourth quarter. Rational Advisors LLC now owns 875 shares of the insurance provider’s stock valued at $39,000 after acquiring an additional 409 shares during the last quarter. Ipswich Investment Management Co. Inc. purchased a new stake in shares of Hartford Financial Services Group in the fourth quarter valued at about $58,000. Finally, Lindbrook Capital LLC purchased a new stake in shares of Hartford Financial Services Group in the fourth quarter valued at about $62,000. Hedge funds and other institutional investors own 91.89% of the company’s stock.
NYSE:HIG traded down $0.32 during trading hours on Monday, reaching $50.75. 808,400 shares of the company were exchanged, compared to its average volume of 2,168,435. Hartford Financial Services Group Inc has a 52-week low of $40.54 and a 52-week high of $55.16. The company has a market cap of $18.42 billion, a P/E ratio of 11.72, a P/E/G ratio of 1.07 and a beta of 0.72. The company has a quick ratio of 0.32, a current ratio of 0.32 and a debt-to-equity ratio of 0.33.
Hartford Financial Services Group declared that its board has initiated a share buyback program on Monday, February 4th that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the insurance provider to repurchase up to 5.9% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board believes its stock is undervalued.
The company also recently declared a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Monday, March 4th were issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 2.36%. The ex-dividend date of this dividend was Friday, March 1st. Hartford Financial Services Group’s payout ratio is 27.71%.
In other Hartford Financial Services Group news, EVP Robert W. Paiano sold 5,000 shares of the firm’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $50.00, for a total transaction of $250,000.00. Following the completion of the transaction, the executive vice president now directly owns 33,342 shares of the company’s stock, valued at approximately $1,667,100. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP David C. Robinson sold 2,392 shares of the firm’s stock in a transaction on Thursday, January 31st. The stock was sold at an average price of $46.35, for a total transaction of $110,869.20. The disclosure for this sale can be found here. 1.50% of the stock is currently owned by company insiders.
A number of equities research analysts have recently commented on the stock. Barclays upped their target price on shares of Hartford Financial Services Group from $55.00 to $57.00 and gave the company an “overweight” rating in a report on Monday, April 1st. ValuEngine upgraded shares of Hartford Financial Services Group from a “sell” rating to a “hold” rating in a research note on Friday, February 8th. Compass Point started coverage on shares of Hartford Financial Services Group in a research note on Tuesday, January 15th. They set a “buy” rating and a $58.00 price target on the stock. Finally, TheStreet upgraded shares of Hartford Financial Services Group from a “c+” rating to a “b-” rating in a research note on Thursday, March 14th. Six equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Hartford Financial Services Group has a consensus rating of “Buy” and an average target price of $56.77.
Hartford Financial Services Group Profile
The Hartford Financial Services Group, Inc, through its subsidiaries, provides insurance and financial services to individual and business customers in the United States. Its Commercial Lines segment offers workers' compensation, property, automobile, marine, livestock, liability, and umbrella coverages; and customized insurance products and risk management services, including professional liability, bond, surety, and specialty casualty coverages.
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