Los Angeles Capital Management LLC Cuts Stock Holdings in The Hartford Financial Services Group, Inc. (NYSE:HIG)

Los Angeles Capital Management LLC lessened its holdings in The Hartford Financial Services Group, Inc. (NYSE:HIG) by 62.6% during the fourth quarter, Holdings Channel.com reports. The firm owned 31,850 shares of the insurance provider’s stock after selling 53,238 shares during the quarter. Los Angeles Capital Management LLC’s holdings in The Hartford Financial Services Group were worth $3,484,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Catalyst Financial Partners LLC boosted its stake in shares of The Hartford Financial Services Group by 3.0% in the fourth quarter. Catalyst Financial Partners LLC now owns 3,079 shares of the insurance provider’s stock valued at $337,000 after buying an additional 90 shares in the last quarter. Barrett & Company Inc. lifted its holdings in The Hartford Financial Services Group by 46.5% in the fourth quarter. Barrett & Company Inc. now owns 293 shares of the insurance provider’s stock valued at $32,000 after acquiring an additional 93 shares during the period. Brooklyn Investment Group boosted its position in shares of The Hartford Financial Services Group by 4.0% during the 3rd quarter. Brooklyn Investment Group now owns 2,444 shares of the insurance provider’s stock worth $287,000 after purchasing an additional 94 shares in the last quarter. Wilmington Savings Fund Society FSB grew its stake in shares of The Hartford Financial Services Group by 2.2% during the 4th quarter. Wilmington Savings Fund Society FSB now owns 4,468 shares of the insurance provider’s stock worth $489,000 after purchasing an additional 97 shares during the period. Finally, Lifestyle Asset Management Inc. increased its holdings in shares of The Hartford Financial Services Group by 0.9% in the 4th quarter. Lifestyle Asset Management Inc. now owns 11,499 shares of the insurance provider’s stock valued at $1,258,000 after purchasing an additional 98 shares in the last quarter. Institutional investors and hedge funds own 93.42% of the company’s stock.

The Hartford Financial Services Group Stock Performance

NYSE:HIG opened at $117.58 on Friday. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.32 and a quick ratio of 0.32. The firm has a market cap of $33.56 billion, a PE ratio of 11.36, a P/E/G ratio of 1.12 and a beta of 0.97. The firm has a 50 day simple moving average of $111.54 and a 200-day simple moving average of $114.35. The Hartford Financial Services Group, Inc. has a 1-year low of $94.32 and a 1-year high of $124.90.

The Hartford Financial Services Group (NYSE:HIG) last issued its quarterly earnings results on Thursday, January 30th. The insurance provider reported $2.94 earnings per share for the quarter, beating the consensus estimate of $2.68 by $0.26. The Hartford Financial Services Group had a return on equity of 19.55% and a net margin of 11.72%. On average, equities analysts expect that The Hartford Financial Services Group, Inc. will post 11.11 EPS for the current year.

The Hartford Financial Services Group Dividend Announcement

The firm 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. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $2.08 annualized dividend and a yield of 1.77%. The Hartford Financial Services Group’s payout ratio is currently 20.10%.

Wall Street Analyst Weigh In

A number of analysts recently commented on the stock. StockNews.com downgraded shares of The Hartford Financial Services Group from a “buy” rating to a “hold” rating in a report on Tuesday. Barclays raised The Hartford Financial Services Group from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $130.00 to $135.00 in a research note on Monday, January 6th. Royal Bank of Canada restated a “sector perform” rating and issued a $125.00 price target on shares of The Hartford Financial Services Group in a report on Monday, February 3rd. BMO Capital Markets lifted their price objective on The Hartford Financial Services Group from $100.00 to $141.00 and gave the stock a “market perform” rating in a report on Wednesday, November 27th. Finally, Wells Fargo & Company lowered their target price on The Hartford Financial Services Group from $130.00 to $126.00 and set an “overweight” rating on the stock in a report on Monday, February 3rd. Ten investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $122.94.

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.