Moors & Cabot Inc. Trims Stock Holdings in The Hartford Financial Services Group, Inc. (NYSE:HIG)

Moors & Cabot Inc. decreased its holdings in The Hartford Financial Services Group, Inc. (NYSE:HIG) by 2.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,740 shares of the insurance provider’s stock after selling 259 shares during the period. Moors & Cabot Inc.’s holdings in The Hartford Financial Services Group were worth $1,066,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of HIG. Axxcess Wealth Management LLC purchased a new position in shares of The Hartford Financial Services Group in the third quarter worth about $205,000. Ashton Thomas Securities LLC bought a new position in shares of The Hartford Financial Services Group in the third quarter valued at approximately $40,000. Nations Financial Group Inc. IA ADV bought a new position in shares of The Hartford Financial Services Group in the third quarter valued at approximately $474,000. Aptus Capital Advisors LLC boosted its position in shares of The Hartford Financial Services Group by 10.3% in the third quarter. Aptus Capital Advisors LLC now owns 3,768 shares of the insurance provider’s stock valued at $443,000 after acquiring an additional 353 shares during the period. Finally, Oppenheimer & Co. Inc. bought a new position in shares of The Hartford Financial Services Group in the third quarter valued at approximately $271,000. Hedge funds and other institutional investors own 93.42% of the company’s stock.

The Hartford Financial Services Group Trading Up 0.5 %

HIG stock opened at $116.41 on Friday. The company has a market capitalization of $33.22 billion, a PE ratio of 11.25, a price-to-earnings-growth ratio of 1.12 and a beta of 0.91. The Hartford Financial Services Group, Inc. has a one year low of $94.47 and a one year high of $124.90. The company’s 50 day moving average price is $113.06 and its two-hundred day moving average price is $114.85. 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 Hartford Financial Services Group (NYSE:HIG) last posted its quarterly earnings results on Thursday, January 30th. The insurance provider reported $2.94 EPS for the quarter, topping the consensus estimate 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%. As a group, analysts predict that The Hartford Financial Services Group, Inc. will post 11.11 earnings per share for the current fiscal year.

The Hartford Financial Services Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 2nd. Investors of record on Monday, March 3rd will be paid a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 1.79%. The ex-dividend date is Monday, March 3rd. The Hartford Financial Services Group’s payout ratio is 20.10%.

Insider Buying and Selling

In related news, EVP Robert W. Paiano sold 13,138 shares of The Hartford Financial Services Group stock in a transaction on Tuesday, March 11th. The shares were sold at an average price of $117.20, for a total value of $1,539,773.60. Following the transaction, the executive vice president now directly owns 31,678 shares of the company’s stock, valued at $3,712,661.60. The trade was a 29.32 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 1.60% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on HIG shares. BMO Capital Markets raised their price objective on shares of The Hartford Financial Services Group from $100.00 to $141.00 and gave the company a “market perform” rating in a research report on Wednesday, November 27th. StockNews.com upgraded shares of The Hartford Financial Services Group from a “hold” rating to a “buy” rating in a research report on Monday. Wells Fargo & Company cut their price objective on shares of The Hartford Financial Services Group from $130.00 to $126.00 and set an “overweight” rating for the company in a research report on Monday, February 3rd. Royal Bank of Canada restated a “sector perform” rating and issued a $125.00 price objective on shares of The Hartford Financial Services Group in a research report on Monday, February 3rd. Finally, Piper Sandler lifted their target price on shares of The Hartford Financial Services Group from $127.00 to $130.00 and gave the company an “overweight” rating in a research report on Monday, February 3rd. Nine analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, The Hartford Financial Services Group has a consensus rating of “Moderate Buy” and a consensus price target 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.