Mackenzie Financial Corp Has $4.20 Million Stock Position in The Hartford Financial Services Group, Inc. (NYSE:HIG)

Mackenzie Financial Corp lowered its holdings in shares of The Hartford Financial Services Group, Inc. (NYSE:HIG) by 80.1% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 52,270 shares of the insurance provider’s stock after selling 210,023 shares during the period. Mackenzie Financial Corp’s holdings in The Hartford Financial Services Group were worth $4,201,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. MV Capital Management Inc. grew its position in The Hartford Financial Services Group by 8.9% during the 4th quarter. MV Capital Management Inc. now owns 1,416 shares of the insurance provider’s stock worth $114,000 after acquiring an additional 116 shares during the last quarter. Realta Investment Advisors grew its position in The Hartford Financial Services Group by 3.7% during the 4th quarter. Realta Investment Advisors now owns 3,635 shares of the insurance provider’s stock worth $292,000 after acquiring an additional 129 shares during the last quarter. Penserra Capital Management LLC grew its position in The Hartford Financial Services Group by 8.4% during the 4th quarter. Penserra Capital Management LLC now owns 1,715 shares of the insurance provider’s stock worth $129,000 after acquiring an additional 133 shares during the last quarter. Proficio Capital Partners LLC grew its position in The Hartford Financial Services Group by 2.4% during the 3rd quarter. Proficio Capital Partners LLC now owns 5,857 shares of the insurance provider’s stock worth $415,000 after acquiring an additional 137 shares during the last quarter. Finally, Perigon Wealth Management LLC grew its position in The Hartford Financial Services Group by 4.7% during the 4th quarter. Perigon Wealth Management LLC now owns 3,204 shares of the insurance provider’s stock worth $258,000 after acquiring an additional 143 shares during the last quarter. Institutional investors own 93.42% of the company’s stock.

The Hartford Financial Services Group Stock Performance

Shares of The Hartford Financial Services Group stock opened at $98.95 on Monday. The company has a quick ratio of 0.32, a current ratio of 0.32 and a debt-to-equity ratio of 0.29. The company has a market cap of $29.42 billion, a PE ratio of 12.38, a price-to-earnings-growth ratio of 1.40 and a beta of 0.89. The business has a 50 day moving average price of $97.80 and a 200-day moving average price of $85.47. The Hartford Financial Services Group, Inc. has a 52 week low of $67.05 and a 52 week high of $103.64.

The Hartford Financial Services Group (NYSE:HIG) last announced its quarterly earnings data on Friday, February 2nd. The insurance provider reported $3.06 earnings per share for the quarter, beating the consensus estimate 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 business had revenue of $6.40 billion during the quarter, compared to analyst estimates of $5.84 billion. During the same period in the prior year, the company earned $2.31 earnings per share. The Hartford Financial Services Group’s revenue was up 6.4% compared to the same quarter last year. Equities analysts anticipate that The Hartford Financial Services Group, Inc. will post 10.13 earnings per share for the current fiscal year.

The Hartford Financial Services Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 2nd. Stockholders of record on Monday, March 4th were issued a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a dividend yield of 1.90%. The ex-dividend date of this dividend was Friday, March 1st. The Hartford Financial Services Group’s payout ratio is currently 23.53%.

Insider Transactions at The Hartford Financial Services Group

In other news, EVP Michael R. Fisher sold 27,004 shares of the firm’s stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $98.90, for a total value of $2,670,695.60. Following the completion of the transaction, the executive vice president now directly owns 18,906 shares of the company’s stock, valued at $1,869,803.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, SVP Allison G. Niderno sold 1,516 shares of the 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 sale, the senior vice president now owns 630 shares in the company, valued at $59,566.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Michael R. Fisher sold 27,004 shares of the stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $98.90, for a total value of $2,670,695.60. Following the completion of the sale, the executive vice president now owns 18,906 shares in the company, valued at approximately $1,869,803.40. The disclosure for this sale can be found here. Insiders sold 201,308 shares of company stock valued at $18,356,153 over the last three months. Company insiders own 1.60% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have commented on HIG shares. UBS Group upped their price target on The Hartford Financial Services Group from $100.00 to $107.00 and gave the company a “buy” rating in a research report on Monday, February 5th. JPMorgan Chase & Co. upped their target price on The Hartford Financial Services Group from $91.00 to $104.00 and gave the company a “neutral” rating in a research report on Monday, April 8th. The Goldman Sachs Group upped their target price on The Hartford Financial Services Group from $92.00 to $105.00 and gave the company a “buy” rating in a research report on Friday, April 12th. Morgan Stanley upped their target price on The Hartford Financial Services Group from $94.00 to $110.00 and gave the company an “equal weight” rating in a research report on Monday, April 15th. Finally, Evercore ISI upped their price target on The Hartford Financial Services Group from $96.00 to $104.00 and gave the stock an “in-line” rating in a research note on Thursday, April 11th. Seven investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, The Hartford Financial Services Group has an average rating of “Moderate Buy” and an average price target of $105.56.

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.