New Mexico Educational Retirement Board trimmed its holdings in shares of Hartford Financial Services Group Inc (NYSE:HIG) by 18.6% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 22,691 shares of the insurance provider’s stock after selling 5,200 shares during the quarter. New Mexico Educational Retirement Board’s holdings in Hartford Financial Services Group were worth $800,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Franklin Resources Inc. increased its position in shares of Hartford Financial Services Group by 1.3% during the first quarter. Franklin Resources Inc. now owns 14,692,073 shares of the insurance provider’s stock worth $517,749,000 after acquiring an additional 191,986 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Hartford Financial Services Group by 3.8% during the fourth quarter. Geode Capital Management LLC now owns 6,276,455 shares of the insurance provider’s stock worth $380,763,000 after acquiring an additional 231,272 shares during the last quarter. Nuveen Asset Management LLC increased its position in shares of Hartford Financial Services Group by 20.3% during the first quarter. Nuveen Asset Management LLC now owns 5,609,039 shares of the insurance provider’s stock worth $197,663,000 after acquiring an additional 944,792 shares during the last quarter. Diamond Hill Capital Management Inc. increased its position in shares of Hartford Financial Services Group by 13.0% during the first quarter. Diamond Hill Capital Management Inc. now owns 4,868,090 shares of the insurance provider’s stock worth $171,551,000 after acquiring an additional 559,356 shares during the last quarter. Finally, Norges Bank purchased a new stake in shares of Hartford Financial Services Group during the fourth quarter worth about $225,572,000. 89.83% of the stock is currently owned by institutional investors and hedge funds.

A number of equities analysts recently commented on the company. TheStreet downgraded Hartford Financial Services Group from a “b-” rating to a “c” rating in a research note on Thursday, March 19th. Morgan Stanley reduced their price objective on Hartford Financial Services Group from $48.00 to $45.00 and set an “overweight” rating for the company in a research report on Monday, May 4th. MKM Partners dropped their target price on Hartford Financial Services Group from $70.00 to $50.00 and set a “buy” rating on the stock in a report on Thursday, April 30th. Royal Bank of Canada dropped their target price on Hartford Financial Services Group from $66.00 to $39.00 and set a “sector perform” rating on the stock in a report on Wednesday, April 8th. Finally, Atlantic Securities raised Hartford Financial Services Group from a “neutral” rating to an “overweight” rating and set a $55.00 price target on the stock in a report on Tuesday, March 24th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and thirteen have assigned a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $56.07.

Shares of Hartford Financial Services Group stock opened at $38.33 on Tuesday. The firm has a market capitalization of $13.41 billion, a PE ratio of 8.19, a price-to-earnings-growth ratio of 1.16 and a beta of 0.96. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 0.29. The firm’s 50 day moving average is $38.90 and its 200 day moving average is $47.24. Hartford Financial Services Group Inc has a 1 year low of $19.04 and a 1 year high of $62.75.

Hartford Financial Services Group (NYSE:HIG) last announced its quarterly earnings results on Wednesday, April 29th. The insurance provider reported $1.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.33 by $0.01. The company had revenue of $4.96 billion for the quarter, compared to analyst estimates of $5.24 billion. Hartford Financial Services Group had a net margin of 8.33% and a return on equity of 13.25%. The firm’s revenue was up .3% on a year-over-year basis. During the same period in the previous year, the firm posted $1.39 EPS. As a group, research analysts anticipate that Hartford Financial Services Group Inc will post 4.63 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 2nd. Investors of record on Monday, June 1st will be issued a dividend of $0.325 per share. This represents a $1.30 annualized dividend and a dividend yield of 3.39%. The ex-dividend date is Friday, May 29th. Hartford Financial Services Group’s dividend payout ratio (DPR) is presently 23.01%.

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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