Hartford Financial Services Group Inc (HIG) Holdings Lessened by Affinity Investment Advisors LLC

Affinity Investment Advisors LLC reduced its holdings in Hartford Financial Services Group Inc (NYSE:HIG) by 1.9% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 147,801 shares of the insurance provider’s stock after selling 2,896 shares during the quarter. Affinity Investment Advisors LLC’s holdings in Hartford Financial Services Group were worth $6,570,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in HIG. Vanguard Group Inc. grew its holdings in shares of Hartford Financial Services Group by 1.2% during the third quarter. Vanguard Group Inc. now owns 37,098,691 shares of the insurance provider’s stock worth $1,853,451,000 after buying an additional 455,263 shares in the last quarter. Vanguard Group Inc grew its holdings in shares of Hartford Financial Services Group by 1.2% during the third quarter. Vanguard Group Inc now owns 37,098,691 shares of the insurance provider’s stock worth $1,853,451,000 after buying an additional 455,263 shares in the last quarter. Franklin Resources Inc. grew its holdings in shares of Hartford Financial Services Group by 24.7% during the third quarter. Franklin Resources Inc. now owns 16,176,288 shares of the insurance provider’s stock worth $808,166,000 after buying an additional 3,207,962 shares in the last quarter. FMR LLC grew its holdings in shares of Hartford Financial Services Group by 1.8% during the second quarter. FMR LLC now owns 10,496,071 shares of the insurance provider’s stock worth $536,664,000 after buying an additional 184,389 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its holdings in shares of Hartford Financial Services Group by 2.9% during the third quarter. Bank of New York Mellon Corp now owns 6,684,831 shares of the insurance provider’s stock worth $333,975,000 after buying an additional 189,017 shares in the last quarter. Institutional investors own 90.52% of the company’s stock.

In related news, Director Julie Richardson purchased 5,000 shares of Hartford Financial Services Group stock in a transaction that occurred on Tuesday, December 11th. The stock was purchased at an average cost of $41.44 per share, with a total value of $207,200.00. Following the completion of the transaction, the director now owns 17,213 shares of the company’s stock, valued at approximately $713,306.72. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Christopher Swift purchased 11,423 shares of Hartford Financial Services Group stock in a transaction that occurred on Thursday, January 10th. The shares were bought at an average cost of $43.73 per share, with a total value of $499,527.79. Following the completion of the transaction, the chief executive officer now directly owns 135,389 shares of the company’s stock, valued at approximately $5,920,560.97. The disclosure for this purchase can be found here. Corporate insiders own 1.50% of the company’s stock.

HIG has been the subject of a number of research reports. Buckingham Research set a $58.00 price objective on Hartford Financial Services Group and gave the stock a “buy” rating in a report on Monday, October 29th. TheStreet downgraded Hartford Financial Services Group from a “b-” rating to a “c+” rating in a report on Thursday, January 3rd. Credit Suisse Group set a $56.00 price objective on Hartford Financial Services Group and gave the stock a “hold” rating in a report on Wednesday, November 14th. Janney Montgomery Scott upgraded Hartford Financial Services Group from a “neutral” rating to a “buy” rating in a report on Tuesday, December 4th. Finally, Wells Fargo & Co set a $53.00 price objective on Hartford Financial Services Group and gave the stock a “hold” rating in a report on Thursday, November 15th. Six research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $56.92.

Shares of NYSE HIG opened at $48.24 on Tuesday. Hartford Financial Services Group Inc has a 52 week low of $40.54 and a 52 week high of $56.13. The company has a quick ratio of 0.29, a current ratio of 0.32 and a debt-to-equity ratio of 0.37. The company has a market cap of $17.18 billion, a P/E ratio of 11.14, a P/E/G ratio of 1.02 and a beta of 0.72.

Hartford Financial Services Group (NYSE:HIG) last issued its quarterly earnings results on Monday, February 4th. The insurance provider reported $0.78 EPS for the quarter, beating the consensus estimate of $0.65 by $0.13. Hartford Financial Services Group had a return on equity of 12.31% and a net margin of 9.53%. The firm had revenue of $4.63 billion during the quarter, compared to analysts’ expectations of $4.73 billion. During the same period in the prior year, the firm posted $0.81 earnings per share. The business’s quarterly revenue was up 1.0% compared to the same quarter last year. As a group, equities research analysts anticipate that Hartford Financial Services Group Inc will post 4.96 EPS for the current year.

Hartford Financial Services Group announced that its board has initiated a share buyback plan on Monday, February 4th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the insurance provider to repurchase up to 5.9% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s leadership believes its stock is undervalued.

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Hartford Financial Services Group Profile

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.

Further Reading: Why do companies issue convertible shares?

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

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