Hartford Financial Services Group Inc (HIG) Shares Sold by Pictet Asset Management Ltd.

Pictet Asset Management Ltd. lessened its stake in shares of Hartford Financial Services Group Inc (NYSE:HIG) by 7.7% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 190,574 shares of the insurance provider’s stock after selling 15,800 shares during the period. Pictet Asset Management Ltd. owned about 0.05% of Hartford Financial Services Group worth $9,521,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the company. State Treasurer State of Michigan raised its stake in shares of Hartford Financial Services Group by 1.0% during the second quarter. State Treasurer State of Michigan now owns 106,075 shares of the insurance provider’s stock valued at $5,424,000 after acquiring an additional 1,000 shares in the last quarter. CIBC Asset Management Inc raised its stake in shares of Hartford Financial Services Group by 2.9% during the second quarter. CIBC Asset Management Inc now owns 35,491 shares of the insurance provider’s stock valued at $1,815,000 after acquiring an additional 1,010 shares in the last quarter. CIBC World Markets Inc. raised its stake in shares of Hartford Financial Services Group by 9.8% during the second quarter. CIBC World Markets Inc. now owns 11,374 shares of the insurance provider’s stock valued at $582,000 after acquiring an additional 1,011 shares in the last quarter. Advisors Capital Management LLC raised its stake in shares of Hartford Financial Services Group by 1.9% during the third quarter. Advisors Capital Management LLC now owns 59,035 shares of the insurance provider’s stock valued at $2,949,000 after acquiring an additional 1,090 shares in the last quarter. Finally, SG Americas Securities LLC raised its stake in shares of Hartford Financial Services Group by 3.6% during the third quarter. SG Americas Securities LLC now owns 32,182 shares of the insurance provider’s stock valued at $1,608,000 after acquiring an additional 1,113 shares in the last quarter. 89.39% of the stock is owned by hedge funds and other institutional investors.

Several research firms have recently weighed in on HIG. Langen Mcalenn raised shares of Hartford Financial Services Group from a “neutral” rating to a “buy” rating in a research note on Tuesday. Wells Fargo & Co set a $53.00 price target on shares of Hartford Financial Services Group and gave the company a “hold” rating in a research note on Wednesday. Janney Montgomery Scott raised shares of Hartford Financial Services Group from a “neutral” rating to a “buy” rating in a research note on Tuesday. Buckingham Research set a $58.00 price objective on shares of Hartford Financial Services Group and gave the stock a “buy” rating in a research note on Monday, October 29th. Finally, Zacks Investment Research raised shares of Hartford Financial Services Group from a “hold” rating to a “buy” rating and set a $56.00 price objective for the company in a research note on Monday, August 27th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and eight have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $57.00.

In related news, EVP David C. Robinson sold 2,395 shares of the business’s stock in a transaction that occurred on Wednesday, October 31st. The shares were sold at an average price of $45.62, for a total value of $109,259.90. Following the completion of the transaction, the executive vice president now owns 19,003 shares of the company’s stock, valued at $866,916.86. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 1.50% of the company’s stock.

Shares of NYSE:HIG opened at $41.63 on Friday. The company has a market capitalization of $15.19 billion, a P/E ratio of 15.19, a price-to-earnings-growth ratio of 0.98 and a beta of 0.92. Hartford Financial Services Group Inc has a 52 week low of $41.13 and a 52 week high of $59.20. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 0.33.

Hartford Financial Services Group (NYSE:HIG) last issued its quarterly earnings data on Thursday, October 25th. The insurance provider reported $1.15 EPS for the quarter, topping analysts’ consensus estimates of $1.04 by $0.11. The company had revenue of $4.80 billion during the quarter. Hartford Financial Services Group had a negative net margin of 11.09% and a positive return on equity of 12.20%. On average, sell-side analysts predict that Hartford Financial Services Group Inc will post 4.53 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 2nd. Investors of record on Monday, December 3rd will be paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 2.88%. The ex-dividend date of this dividend is Friday, November 30th. Hartford Financial Services Group’s dividend payout ratio (DPR) is 43.80%.

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About Hartford Financial Services Group

The Hartford Financial Services Group, Inc, through its subsidiaries, provides insurance and financial services to individual and business customers in the United States. It operates through five segments: Commercial Lines, Personal Lines, Property & Casualty Other Operations, Group Benefits, and Mutual Funds.

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

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