Hartford Financial Services Group Inc (HIG) Position Cut by Robecosam AG
Robecosam AG reduced its holdings in shares of Hartford Financial Services Group Inc (NYSE:HIG) by 23.4% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 12,900 shares of the insurance provider’s stock after selling 3,942 shares during the quarter. Robecosam AG’s holdings in Hartford Financial Services Group were worth $730,000 as of its most recent SEC filing.
Other large investors have also made changes to their positions in the company. First Manhattan Co. increased its holdings in shares of Hartford Financial Services Group by 103.2% in the fourth quarter. First Manhattan Co. now owns 1,969 shares of the insurance provider’s stock valued at $110,000 after purchasing an additional 1,000 shares during the period. Cerebellum GP LLC purchased a new stake in shares of Hartford Financial Services Group in the fourth quarter worth about $129,000. Delpha Capital Management LLC purchased a new position in Hartford Financial Services Group during the fourth quarter worth approximately $157,000. Focused Wealth Management Inc purchased a new position in Hartford Financial Services Group during the fourth quarter worth approximately $189,000. Finally, Sheaff Brock Investment Advisors LLC purchased a new position in Hartford Financial Services Group during the fourth quarter worth approximately $200,000. 91.07% of the stock is currently owned by institutional investors.
Several equities analysts have recently weighed in on the company. Zacks Investment Research downgraded Hartford Financial Services Group from a “hold” rating to a “strong sell” rating in a research report on Tuesday, December 26th. Wells Fargo & Co set a $56.00 target price on Hartford Financial Services Group and gave the stock a “hold” rating in a research note on Friday, February 9th. Citigroup assumed coverage on Hartford Financial Services Group in a research note on Wednesday, December 20th. They set a “neutral” rating and a $59.00 target price for the company. Credit Suisse Group upgraded Hartford Financial Services Group from a “neutral” rating to an “outperform” rating and set a $65.00 price target for the company in a research report on Tuesday, December 19th. Finally, ValuEngine upgraded Hartford Financial Services Group from a “hold” rating to a “buy” rating in a report on Friday, February 2nd. Seven research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $58.92.
Hartford Financial Services Group (NYSE:HIG) last released its earnings results on Thursday, February 8th. The insurance provider reported $0.81 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.77 by $0.04. Hartford Financial Services Group had a positive return on equity of 7.89% and a negative net margin of 16.79%. The company had revenue of $4.54 billion for the quarter, compared to analysts’ expectations of $4.54 billion. During the same quarter in the previous year, the firm posted $1.08 EPS. The firm’s quarterly revenue was up 14.1% on a year-over-year basis. sell-side analysts forecast that Hartford Financial Services Group Inc will post 4.4 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, April 2nd. Shareholders of record on Monday, March 5th will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 1.84%. The ex-dividend date of this dividend is Friday, March 2nd. Hartford Financial Services Group’s payout ratio is -11.31%.
In other Hartford Financial Services Group news, SVP Scott R. Lewis sold 2,319 shares of the business’s stock in a transaction that occurred on Wednesday, March 7th. The stock was sold at an average price of $53.87, for a total transaction of $124,924.53. Following the transaction, the senior vice president now owns 16,187 shares in the company, valued at approximately $871,993.69. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP David C. Robinson sold 868 shares of the business’s stock in a transaction that occurred on Monday, March 5th. The stock was sold at an average price of $51.39, for a total value of $44,606.52. The disclosure for this sale can be found here. Insiders own 1.50% of the company’s stock.
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Hartford Financial Services Group Profile
The Hartford Financial Services Group, Inc is a holding company for insurance and financial services subsidiaries. The Company’s segments include Commercial Lines, which provides workers’ compensation, property, automobile, marine, livestock, liability and umbrella coverages primarily throughout the United States; Personal Lines, which provides automobile, homeowners and personal umbrella coverages to individuals across the United States; Group Benefits, which provides group life, accident and disability coverage, and other products and services; Property & Casualty Other Operations, which includes certain property and casualty operations; Mutual Funds, which provides investment management, administration, product distribution and related services to investors; Talcott Resolution, which consists of the run-off of the Company’s the United States individual and institutional annuity, and Private Placement Life Insurance (PPLI) businesses, and Corporate.
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