Zurcher Kantonalbank Zurich Cantonalbank Boosts Stock Position in The Hartford Financial Services Group, Inc. (NYSE:HIG)

Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of The Hartford Financial Services Group, Inc. (NYSE:HIG) by 94.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 343,306 shares of the insurance provider’s stock after buying an additional 166,453 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in The Hartford Financial Services Group were worth $27,595,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in HIG. Cambridge Investment Research Advisors Inc. lifted its position in shares of The Hartford Financial Services Group by 7.2% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 17,704 shares of the insurance provider’s stock valued at $1,271,000 after buying an additional 1,185 shares during the last quarter. D.A. Davidson & CO. lifted its holdings in The Hartford Financial Services Group by 9.1% during the 1st quarter. D.A. Davidson & CO. now owns 3,952 shares of the insurance provider’s stock worth $284,000 after purchasing an additional 330 shares in the last quarter. Prudential PLC purchased a new stake in The Hartford Financial Services Group during the 1st quarter worth about $674,000. Cetera Investment Advisers lifted its holdings in The Hartford Financial Services Group by 88.6% during the 1st quarter. Cetera Investment Advisers now owns 11,238 shares of the insurance provider’s stock worth $807,000 after purchasing an additional 5,278 shares in the last quarter. Finally, Zions Bancorporation N.A. lifted its holdings in The Hartford Financial Services Group by 235.4% during the 1st quarter. Zions Bancorporation N.A. now owns 1,070 shares of the insurance provider’s stock worth $77,000 after purchasing an additional 751 shares in the last quarter. Hedge funds and other institutional investors own 93.42% of the company’s stock.

The Hartford Financial Services Group Trading Up 0.4 %

NYSE HIG opened at $97.73 on Wednesday. The Hartford Financial Services Group, Inc. has a fifty-two week low of $67.05 and a fifty-two week high of $103.64. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.32 and a current ratio of 0.32. The stock has a 50 day simple moving average of $97.37 and a two-hundred day simple moving average of $84.90. The stock has a market cap of $29.06 billion, a P/E ratio of 12.23, a price-to-earnings-growth ratio of 1.37 and a beta of 0.89.

The Hartford Financial Services Group (NYSE:HIG) last posted its quarterly earnings data on Friday, February 2nd. The insurance provider reported $3.06 earnings per share for the quarter, beating analysts’ consensus estimates of $2.44 by $0.62. The Hartford Financial Services Group had a return on equity of 19.82% and a net margin of 10.21%. The company had revenue of $6.40 billion during the quarter, compared to analyst estimates of $5.84 billion. During the same quarter last year, the company earned $2.31 EPS. The firm’s revenue for the quarter was up 6.4% on a year-over-year basis. On average, analysts forecast that The Hartford Financial Services Group, Inc. will post 10.12 earnings per share for the current year.

The Hartford Financial Services Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 2nd. Investors of record on Monday, March 4th were given a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a yield of 1.92%. The ex-dividend date was Friday, March 1st. The Hartford Financial Services Group’s dividend payout ratio (DPR) is presently 23.53%.

Insider Activity at The Hartford Financial Services Group

In other The Hartford Financial Services Group news, SVP Allison G. Niderno sold 1,332 shares of The Hartford Financial Services Group stock in a transaction on Tuesday, February 6th. The stock was sold at an average price of $89.74, for a total value of $119,533.68. Following the completion of the sale, the senior vice president now owns 630 shares of the company’s stock, valued at approximately $56,536.20. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, SVP Allison G. Niderno sold 1,516 shares of The Hartford Financial Services Group stock in a transaction on Monday, March 4th. The stock was sold at an average price of $94.55, for a total value of $143,337.80. Following the completion of the sale, the senior vice president now owns 630 shares of the company’s stock, valued at $59,566.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Allison G. Niderno sold 1,332 shares of The Hartford Financial Services Group stock in a transaction on Tuesday, February 6th. The stock was sold at an average price of $89.74, for a total value of $119,533.68. Following the completion of the sale, the senior vice president now directly owns 630 shares of the company’s stock, valued at approximately $56,536.20. The disclosure for this sale can be found here. Insiders sold a total of 249,082 shares of company stock valued at $22,404,321 in the last 90 days. Corporate insiders own 1.60% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. Raymond James reissued an “outperform” rating and set a $120.00 price objective (up previously from $100.00) on shares of The Hartford Financial Services Group in a report on Monday, April 1st. UBS Group increased their price objective on The Hartford Financial Services Group from $100.00 to $107.00 and gave the stock a “buy” rating in a report on Monday, February 5th. The Goldman Sachs Group increased their price objective on The Hartford Financial Services Group from $92.00 to $105.00 and gave the stock a “buy” rating in a report on Friday, April 12th. TD Cowen upped their target price on The Hartford Financial Services Group to $144.00 and gave the stock a “buy” rating in a research note on Wednesday, April 3rd. Finally, Wells Fargo & Company upped their target price on The Hartford Financial Services Group from $106.00 to $117.00 and gave the stock an “overweight” rating in a research note on Thursday, April 11th. Seven investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $105.47.

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.