Advisory Services Network LLC Acquires 530 Shares of Hartford Financial Services Group Inc (NYSE:HIG)

Advisory Services Network LLC lifted its holdings in shares of Hartford Financial Services Group Inc (NYSE:HIG) by 11.9% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,002 shares of the insurance provider’s stock after purchasing an additional 530 shares during the period. Advisory Services Network LLC’s holdings in Hartford Financial Services Group were worth $304,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. BlackRock Inc. raised its stake in shares of Hartford Financial Services Group by 8.1% in the 2nd quarter. BlackRock Inc. now owns 30,044,477 shares of the insurance provider’s stock valued at $1,674,077,000 after buying an additional 2,257,147 shares in the last quarter. Wealthfront Advisers LLC increased its stake in Hartford Financial Services Group by 12.7% in the third quarter. Wealthfront Advisers LLC now owns 16,103 shares of the insurance provider’s stock valued at $976,000 after acquiring an additional 1,811 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd increased its stake in Hartford Financial Services Group by 16.2% in the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 22,355 shares of the insurance provider’s stock valued at $1,354,000 after acquiring an additional 3,124 shares during the period. Advisor Partners LLC increased its stake in Hartford Financial Services Group by 2.5% in the third quarter. Advisor Partners LLC now owns 12,774 shares of the insurance provider’s stock valued at $774,000 after acquiring an additional 307 shares during the period. Finally, Robeco Institutional Asset Management B.V. raised its position in Hartford Financial Services Group by 21.5% in the third quarter. Robeco Institutional Asset Management B.V. now owns 2,137,887 shares of the insurance provider’s stock worth $129,576,000 after purchasing an additional 377,806 shares in the last quarter. 90.57% of the stock is owned by institutional investors and hedge funds.

A number of research analysts have commented on HIG shares. MKM Partners raised their price target on shares of Hartford Financial Services Group to $70.00 and gave the stock a “buy” rating in a research note on Tuesday, November 5th. Citigroup started coverage on Hartford Financial Services Group in a research note on Tuesday, January 21st. They issued a “neutral” rating and a $67.00 price objective on the stock. Zacks Investment Research raised Hartford Financial Services Group from a “hold” rating to a “buy” rating and set a $64.00 target price for the company in a report on Monday, January 6th. ValuEngine downgraded Hartford Financial Services Group from a “sell” rating to a “strong sell” rating in a research report on Tuesday, December 3rd. Finally, Royal Bank of Canada downgraded Hartford Financial Services Group from an “outperform” rating to a “sector perform” rating and cut their target price for the stock from $70.00 to $68.00 in a research report on Thursday, December 5th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $66.00.

NYSE:HIG opened at $59.10 on Friday. The firm has a market cap of $21.30 billion, a PE ratio of 10.46, a price-to-earnings-growth ratio of 1.14 and a beta of 0.60. Hartford Financial Services Group Inc has a 12 month low of $47.50 and a 12 month high of $62.75. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 0.30. The company’s 50-day moving average price is $59.87 and its two-hundred day moving average price is $59.66.

Hartford Financial Services Group (NYSE:HIG) last posted its quarterly earnings data on Monday, February 3rd. The insurance provider reported $1.43 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.32 by $0.11. Hartford Financial Services Group had a net margin of 10.05% and a return on equity of 13.60%. The company had revenue of $5.36 billion during the quarter, compared to analyst estimates of $5.23 billion. During the same quarter last year, the business posted $0.78 earnings per share. The company’s revenue was up 15.7% on a year-over-year basis. On average, research analysts expect that Hartford Financial Services Group Inc will post 5.43 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 2nd. Investors of record on Monday, March 2nd will be given a dividend of $0.325 per share. The ex-dividend date is Friday, February 28th. This is a positive change from Hartford Financial Services Group’s previous quarterly dividend of $0.30. This represents a $1.30 dividend on an annualized basis and a yield of 2.20%. Hartford Financial Services Group’s dividend payout ratio is 21.24%.

Hartford Financial Services Group Company Profile

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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Institutional Ownership by Quarter for Hartford Financial Services Group (NYSE:HIG)

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