Avestar Capital LLC bought a new position in The Hartford Financial Services Group, Inc. (NYSE:HIG – Get Rating) in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor purchased 3,211 shares of the insurance provider’s stock, valued at approximately $232,000.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Nuveen Asset Management LLC raised its stake in Hartford Financial Services Group by 4.0% in the fourth quarter. Nuveen Asset Management LLC now owns 2,435,271 shares of the insurance provider’s stock valued at $168,131,000 after purchasing an additional 94,622 shares during the period. Caisse DE Depot ET Placement DU Quebec purchased a new stake in shares of Hartford Financial Services Group during the 4th quarter valued at $1,464,000. WINTON GROUP Ltd grew its position in shares of The Hartford Financial Services Group by 104.7% in the 4th quarter. WINTON GROUP Ltd now owns 20,842 shares of the insurance provider’s stock valued at $1,439,000 after buying an additional 10,660 shares during the period. Toth Financial Advisory Corp raised its stake in shares of Hartford Financial Services Group by 334.2% in the first quarter. Toth Financial Advisory Corp now owns 825 shares of the insurance provider’s stock valued at $59,000 after buying an additional 635 shares in the last quarter. Finally, Quent Capital LLC bought a new position in Hartford Financial Services Group during the 4th quarter worth about $67,000. Institutional investors own 93.01% of the company’s shares.
In related news, CEO Christopher Swift sold 47,130 shares of the firm’s stock in a transaction on Wednesday, May 4th. The stock was sold at an average price of $72.89, for a total value of $3,435,305.70. Following the transaction, the chief executive officer now directly owns 172,129 shares of the company’s stock, valued at approximately $12,546,482.81. The sale was disclosed in a legal filing with the SEC, which is available through the SEC’s website. Also, EVP David C. Robinson sold 14,743 shares of The Hartford Financial Services Group stock in a transaction on Friday, April 22nd. The shares were sold at an average price of $73.02, for a total value of $1,076,533.86. Following the transaction, the executive vice president now owns 1 share in the company, valued at $73.02. Disclosure for this sale can be found here. Over the last 90 days, insiders have sold 109,087 shares of company stock worth $7,966,960. Corporate insiders own 1.80% of the company’s stock.
NYSE:HIG opened at $65.67 on Monday. The company has a market cap of $21.60 billion, a PE ratio of 9.03, a price-to-earnings-growth ratio of 1.37 and a beta of 0.98. The company has a current ratio of 0.32, a quick ratio of 0.32, and a debt-to-equity ratio of 0.28. The company has a 50 day simple moving average of $68.52 and a two hundred day simple moving average of $70.10. Hartford Financial Services Group, Inc. it has a 12-month low of $60.31 and a 12-month high of $78.17.
Hartford Financial Services Group (NYSE:HIG – Get Rating ) last issued its quarterly earnings results on Thursday, April 28th. The insurance provider reported $1.66 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.56 by $0.10. The firm had revenue of $5.39 billion for the quarter, compared to the consensus estimate of $5.60 billion. Hartford Financial Services Group had a return on equity of 14.84% and a net margin of 11.39%. The company’s revenue for the quarter was up 1.8% on a year-over-year basis. During the same period last year, the business posted $0.56 EPS. Research analysts predict that Hartford Financial Services Group, Inc. will post 6.86 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Tuesday, July 5th. Shareholders of record on Wednesday, June 1st were given a $0.385 dividend. The ex-dividend date of this dividend was Tuesday, May 31st. This represents an annual dividend of $1.54 and a yield of 2.35%. Hartford Financial Services Group’s payout ratio is 21.18%.
A number of equities analysts have weighed in on the stock. Citigroup assumed coverage on shares of Hartford Financial Services Group in a research note on Monday, May 23rd. They set a “buy” rating and a $81.00 target price for the company. StockNews.com began coverage on Hartford Financial Services Group in a research report on Thursday, March 31st. They set a “buy” rating on the company. Morgan Stanley decreased their target price on Hartford Financial Services Group from $77.00 to $73.00 and set an “equal weight” rating on the stock in a report on Monday, May 23rd. Barclays lifted their price objective on Hartford Financial Services Group from $85.00 to $86.00 and gave the company an “overweight” rating in a report on Tuesday, April 12th. Finally, Credit Suisse Group boosted their price objective on shares of Hartford Financial Services Group from $93.00 to $104.00 and gave the stock an “outperform” rating in a research note on Friday, 3 June. Four research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $81.15.
About Hartford Financial Services Group (Get rating)
Hartford Financial Services Group, Inc. provides insurance and financial services to individual and business clients in the United States, United Kingdom and internationally. Its Commercial Lines segment offers workers compensation, property, auto, liability, umbrella, bonds, marine, livestock and reinsurance; and customized insurance products and risk management services, including professional liability, bond, surety and specialty casualty coverage through regional offices, branches, sales and policy service centers, agents and independent retail agents , wholesale agents and reinsurance brokers.
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