Deprince Race & Zollo Inc. Sells 122,419 Shares of Hartford Financial Services Group Inc (NYSE:HIG)

Deprince Race & Zollo Inc. lessened its holdings in shares of Hartford Financial Services Group Inc (NYSE:HIG) by 30.9% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 273,763 shares of the insurance provider’s stock after selling 122,419 shares during the quarter. Deprince Race & Zollo Inc. owned approximately 0.08% of Hartford Financial Services Group worth $15,254,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. NuWave Investment Management LLC raised its position in Hartford Financial Services Group by 950.0% during the second quarter. NuWave Investment Management LLC now owns 504 shares of the insurance provider’s stock valued at $28,000 after acquiring an additional 456 shares in the last quarter. Rational Advisors LLC raised its position in Hartford Financial Services Group by 950.0% during the second quarter. Rational Advisors LLC now owns 504 shares of the insurance provider’s stock valued at $28,000 after acquiring an additional 456 shares in the last quarter. Icon Wealth Partners LLC bought a new position in shares of Hartford Financial Services Group in the first quarter valued at approximately $33,000. Redhawk Wealth Advisors Inc. bought a new position in shares of Hartford Financial Services Group in the second quarter valued at approximately $40,000. Finally, Mirova bought a new position in shares of Hartford Financial Services Group in the second quarter valued at approximately $62,000. 91.60% of the stock is currently owned by hedge funds and other institutional investors.

In other news, insider Brion S. Johnson sold 32,094 shares of the business’s stock in a transaction on Thursday, June 20th. The shares were sold at an average price of $55.22, for a total value of $1,772,230.68. Following the sale, the insider now owns 62,819 shares in the company, valued at approximately $3,468,865.18. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider William A. Bloom sold 7,927 shares of the business’s stock in a transaction on Tuesday, June 18th. The shares were sold at an average price of $54.48, for a total transaction of $431,862.96. Following the completion of the sale, the insider now owns 23,440 shares in the company, valued at approximately $1,277,011.20. The disclosure for this sale can be found here. Insiders have sold 108,109 shares of company stock worth $6,084,135 in the last quarter. Corporate insiders own 1.70% of the company’s stock.

HIG opened at $59.25 on Thursday. Hartford Financial Services Group Inc has a fifty-two week low of $40.54 and a fifty-two week high of $60.77. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.28 and a quick ratio of 0.28. The firm’s fifty day moving average price is $58.43 and its two-hundred day moving average price is $54.00. The company has a market capitalization of $21.42 billion, a P/E ratio of 13.68, a P/E/G ratio of 1.21 and a beta of 0.64.

Hartford Financial Services Group (NYSE:HIG) last posted its quarterly earnings results on Thursday, August 1st. The insurance provider reported $1.33 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.11 by $0.22. Hartford Financial Services Group had a net margin of 8.36% and a return on equity of 12.44%. The firm had revenue of $5.09 billion for the quarter, compared to the consensus estimate of $5.07 billion. During the same quarter in the previous year, the company earned $1.13 earnings per share. The business’s revenue was up 6.3% compared to the same quarter last year. On average, equities research analysts expect that Hartford Financial Services Group Inc will post 5.24 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Tuesday, September 3rd will be paid a dividend of $0.30 per share. The ex-dividend date is Friday, August 30th. This represents a $1.20 dividend on an annualized basis and a yield of 2.03%. Hartford Financial Services Group’s dividend payout ratio is currently 27.71%.

A number of equities analysts have recently commented on the stock. Goldman Sachs Group raised shares of Hartford Financial Services Group from a “neutral” rating to a “buy” rating and lifted their price target for the company from $53.00 to $64.00 in a research report on Wednesday, May 29th. Royal Bank of Canada lifted their price target on shares of Hartford Financial Services Group to $68.00 and gave the company an “outperform” rating in a research report on Monday, August 5th. UBS Group lifted their price target on shares of Hartford Financial Services Group from $61.00 to $65.00 and gave the company a “buy” rating in a research report on Wednesday, July 10th. B. Riley lifted their price target on shares of Hartford Financial Services Group from $66.00 to $69.00 and gave the company a “buy” rating in a research report on Wednesday, June 26th. Finally, Morgan Stanley lifted their price target on shares of Hartford Financial Services Group from $58.00 to $61.00 and gave the company an “equal weight” rating in a research report on Thursday, August 15th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and ten have given a buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $62.08.

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. 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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