Prana Capital Management LP acquired a new position in Hartford Financial Services Group Inc (NYSE:HIG) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 266,486 shares of the insurance provider’s stock, valued at approximately $14,998,000. Hartford Financial Services Group accounts for approximately 5.1% of Prana Capital Management LP’s investment portfolio, making the stock its 9th largest position. Prana Capital Management LP owned 0.07% of Hartford Financial Services Group as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors have also bought and sold shares of the company. First Manhattan Co. increased its stake 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 worth $110,000 after purchasing an additional 1,000 shares during the period. Cerebellum GP LLC bought a new position in shares of Hartford Financial Services Group in the fourth quarter worth about $129,000. Delpha Capital Management LLC bought a new position in shares of Hartford Financial Services Group in the fourth quarter worth about $157,000. Focused Wealth Management Inc bought a new position in Hartford Financial Services Group during the fourth quarter valued at about $189,000. Finally, Sheaff Brock Investment Advisors LLC bought a new position in Hartford Financial Services Group during the fourth quarter valued at about $200,000. Institutional investors and hedge funds own 91.07% of the company’s stock.
In other news, SVP Scott R. Lewis sold 2,319 shares of the company’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 value of $124,924.53. Following the sale, the senior vice president now directly owns 16,187 shares in the company, valued at approximately $871,993.69. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP David C. Robinson sold 868 shares of the company’s stock in a transaction that occurred on Monday, March 5th. The shares were 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. Corporate insiders own 1.50% of the company’s stock.
Shares of Hartford Financial Services Group Inc (NYSE:HIG) opened at $56.13 on Monday. Hartford Financial Services Group Inc has a 12 month low of $46.35 and a 12 month high of $59.20. The firm has a market capitalization of $20,037.37, a P/E ratio of -6.35, a PEG ratio of 1.34 and a beta of 1.00. The company has a quick ratio of 0.26, a current ratio of 0.26 and a debt-to-equity ratio of 0.35.
Hartford Financial Services Group (NYSE:HIG) last released its quarterly earnings data on Thursday, February 8th. The insurance provider reported $0.81 earnings per share for the quarter, beating the 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 analyst estimates of $4.54 billion. During the same period in the prior year, the company posted $1.08 EPS. The company’s revenue was up 14.1% compared to the same quarter last year. sell-side analysts predict that Hartford Financial Services Group Inc will post 4.4 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 2nd. Stockholders of record on Monday, March 5th will be paid a $0.25 dividend. The ex-dividend date is Friday, March 2nd. This represents a $1.00 annualized dividend and a dividend yield of 1.78%. Hartford Financial Services Group’s dividend payout ratio is currently -11.31%.
TRADEMARK VIOLATION WARNING: This article was originally published by American Banking News and is the sole property of of American Banking News. If you are reading this article on another website, it was stolen and republished in violation of United States & international copyright law. The legal version of this article can be read at https://www.americanbankingnews.com/2018/03/12/266486-shares-in-hartford-financial-services-group-inc-hig-purchased-by-prana-capital-management-lp.html.
About Hartford Financial Services Group
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.
Receive News & Ratings for Hartford Financial Services Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Hartford Financial Services Group and related companies with MarketBeat.com's FREE daily email newsletter.