Fmr LLC raised its stake in shares of Hartford Financial Services Group Inc (NYSE:HIG) by 5.3% during the 2nd quarter, according to its most recent filing with the SEC. The firm owned 8,369,255 shares of the insurance provider’s stock after acquiring an additional 424,647 shares during the period. Fmr LLC owned approximately 2.34% of Hartford Financial Services Group worth $322,635,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Quantum Capital Management raised its holdings in shares of Hartford Financial Services Group by 4.4% during the second quarter. Quantum Capital Management now owns 6,908 shares of the insurance provider’s stock valued at $266,000 after purchasing an additional 288 shares during the last quarter. Regent Investment Management LLC raised its stake in Hartford Financial Services Group by 4.0% during the 2nd quarter. Regent Investment Management LLC now owns 7,800 shares of the insurance provider’s stock valued at $301,000 after buying an additional 300 shares during the last quarter. Institute for Wealth Management LLC. lifted its holdings in shares of Hartford Financial Services Group by 0.9% during the 2nd quarter. Institute for Wealth Management LLC. now owns 33,298 shares of the insurance provider’s stock valued at $1,284,000 after buying an additional 303 shares during the period. Cornerstone Advisors Inc. boosted its stake in shares of Hartford Financial Services Group by 27.5% in the 2nd quarter. Cornerstone Advisors Inc. now owns 1,654 shares of the insurance provider’s stock worth $64,000 after buying an additional 357 shares during the last quarter. Finally, Employers Holdings Inc. grew its holdings in shares of Hartford Financial Services Group by 3.7% in the second quarter. Employers Holdings Inc. now owns 12,235 shares of the insurance provider’s stock worth $472,000 after acquiring an additional 440 shares during the period. 89.90% of the stock is currently owned by hedge funds and other institutional investors.
Several research analysts have issued reports on the company. Bank of America dropped their target price on Hartford Financial Services Group from $57.00 to $51.00 and set a “buy” rating on the stock in a research report on Thursday, September 17th. Royal Bank of Canada increased their price objective on shares of Hartford Financial Services Group from $43.00 to $46.00 and gave the stock a “sector perform” rating in a research note on Monday, August 3rd. Credit Suisse Group boosted their target price on shares of Hartford Financial Services Group from $44.00 to $48.00 and gave the company a “neutral” rating in a research report on Tuesday, August 11th. Finally, Morgan Stanley upped their target price on shares of Hartford Financial Services Group from $45.00 to $49.00 and gave the company an “overweight” rating in a report on Monday, August 3rd. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and eleven have assigned a buy rating to the company. Hartford Financial Services Group has a consensus rating of “Buy” and an average price target of $54.29.
In related news, CEO Christopher Swift acquired 6,975 shares of the business’s stock in a transaction on Wednesday, September 23rd. The stock was acquired at an average cost of $35.98 per share, with a total value of $250,960.50. Following the acquisition, the chief executive officer now directly owns 227,309 shares in the company, valued at approximately $8,178,577.82. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 1.70% of the company’s stock.
Shares of Hartford Financial Services Group stock opened at $37.56 on Friday. The company has a market capitalization of $13.45 billion, a P/E ratio of 7.59, a P/E/G ratio of 1.14 and a beta of 0.95. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.32 and a current ratio of 0.32. The company has a fifty day moving average of $39.35 and a 200 day moving average of $38.62. Hartford Financial Services Group Inc has a fifty-two week low of $19.04 and a fifty-two week high of $62.75.
Hartford Financial Services Group (NYSE:HIG) last released its quarterly earnings data on Thursday, July 30th. The insurance provider reported $1.22 earnings per share for the quarter, hitting analysts’ consensus estimates of $1.22. Hartford Financial Services Group had a return on equity of 12.62% and a net margin of 8.80%. The firm had revenue of $3.20 billion during the quarter, compared to analyst estimates of $3.15 billion. Analysts forecast that Hartford Financial Services Group Inc will post 4.86 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Friday, October 2nd. Shareholders of record on Tuesday, September 1st were paid a $0.325 dividend. The ex-dividend date was Monday, August 31st. This represents a $1.30 annualized dividend and a yield of 3.46%. Hartford Financial Services Group’s payout ratio is 23.01%.
About Hartford Financial Services Group
The Hartford Financial Services Group, Inc, through its subsidiaries, provides insurance and financial services to individual and business customers in the United States. Its Commercial Lines segment offers workers’ compensation, property, automobile, marine, livestock, liability, and umbrella coverages; and customized insurance products and risk management services, including professional liability, bond, surety, and specialty casualty coverages.
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