Burney Co. Sells 2,885 Shares of The Hartford Financial Services Group, Inc. (NYSE:HIG)

Burney Co. cut its stake in The Hartford Financial Services Group, Inc. (NYSE:HIG) by 33.6% in the fourth quarter, Holdings Channel.com reports. The firm owned 5,710 shares of the insurance provider’s stock after selling 2,885 shares during the period. Burney Co.’s holdings in The Hartford Financial Services Group were worth $625,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently bought and sold shares of HIG. Nordea Investment Management AB lifted its stake in shares of The Hartford Financial Services Group by 17.3% in the fourth quarter. Nordea Investment Management AB now owns 3,938,421 shares of the insurance provider’s stock valued at $430,272,000 after buying an additional 581,103 shares during the period. AQR Capital Management LLC raised its holdings in The Hartford Financial Services Group by 4.9% in the 2nd quarter. AQR Capital Management LLC now owns 1,497,960 shares of the insurance provider’s stock valued at $150,605,000 after acquiring an additional 70,018 shares in the last quarter. Robeco Institutional Asset Management B.V. lifted its position in shares of The Hartford Financial Services Group by 22.7% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 1,199,542 shares of the insurance provider’s stock worth $141,078,000 after acquiring an additional 221,778 shares during the period. Caisse DE Depot ET Placement DU Quebec grew its holdings in shares of The Hartford Financial Services Group by 42.1% during the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 935,298 shares of the insurance provider’s stock worth $110,000,000 after purchasing an additional 277,295 shares in the last quarter. Finally, Assenagon Asset Management S.A. increased its position in shares of The Hartford Financial Services Group by 437.9% during the fourth quarter. Assenagon Asset Management S.A. now owns 871,318 shares of the insurance provider’s stock valued at $95,322,000 after purchasing an additional 709,324 shares during the period. 93.42% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on HIG shares. Wells Fargo & Company reduced their target price on The Hartford Financial Services Group from $134.00 to $130.00 and set an “overweight” rating for the company in a research report on Tuesday. Barclays upgraded shares of The Hartford Financial Services Group from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $130.00 to $135.00 in a research report on Monday, January 6th. JPMorgan Chase & Co. increased their price target on shares of The Hartford Financial Services Group from $122.00 to $125.00 and gave the stock a “neutral” rating in a research report on Friday, October 25th. Keefe, Bruyette & Woods raised their price target on shares of The Hartford Financial Services Group from $135.00 to $139.00 and gave the stock an “outperform” rating in a research note on Friday, January 10th. Finally, Jefferies Financial Group increased their target price on The Hartford Financial Services Group from $113.00 to $127.00 and gave the stock a “hold” rating in a report on Wednesday, October 9th. Nine equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, The Hartford Financial Services Group has a consensus rating of “Moderate Buy” and a consensus price target of $122.28.

The Hartford Financial Services Group Trading Down 0.5 %

Shares of NYSE HIG opened at $111.96 on Friday. The Hartford Financial Services Group, Inc. has a 1-year low of $81.87 and a 1-year high of $124.90. The company has a current ratio of 0.32, a quick ratio of 0.32 and a debt-to-equity ratio of 0.26. The company has a 50-day moving average of $114.14 and a two-hundred day moving average of $112.48. The company has a market cap of $32.45 billion, a PE ratio of 11.22, a P/E/G ratio of 0.76 and a beta of 0.98.

The Hartford Financial Services Group Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 3rd. Shareholders of record on Monday, December 2nd were issued a dividend of $0.52 per share. This is an increase from The Hartford Financial Services Group’s previous quarterly dividend of $0.47. The ex-dividend date was Monday, December 2nd. This represents a $2.08 annualized dividend and a yield of 1.86%. The Hartford Financial Services Group’s dividend payout ratio is currently 20.84%.

Insider Buying and Selling at The Hartford Financial Services Group

In related news, EVP Adin M. Tooker sold 6,865 shares of the firm’s stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $117.04, for a total value of $803,479.60. Following the transaction, the executive vice president now owns 25,820 shares in the company, valued at $3,021,972.80. This trade represents a 21.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 1.60% of the company’s stock.

The Hartford Financial Services Group 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.