IFM Investors Pty Ltd Grows Stock Holdings in Hartford Financial Services Group Inc (NYSE:HIG)

IFM Investors Pty Ltd grew its holdings in shares of Hartford Financial Services Group Inc (NYSE:HIG) by 54.6% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 40,887 shares of the insurance provider’s stock after buying an additional 14,446 shares during the quarter. IFM Investors Pty Ltd’s holdings in Hartford Financial Services Group were worth $2,478,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Virtus ETF Advisers LLC acquired a new position in shares of Hartford Financial Services Group during the second quarter worth $26,000. NuWave Investment Management LLC lifted its position in shares of 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 worth $28,000 after purchasing an additional 456 shares in the last quarter. Rational Advisors LLC lifted its position in shares of Hartford Financial Services Group by 950.0% during the second quarter. Rational Advisors LLC now owns 504 shares of the insurance provider’s stock worth $28,000 after purchasing an additional 456 shares in the last quarter. Venturi Wealth Management LLC acquired a new position in shares of Hartford Financial Services Group during the third quarter worth $28,000. Finally, KCS Wealth Advisory acquired a new position in shares of Hartford Financial Services Group during the third quarter worth $32,000. Institutional investors own 91.62% of the company’s stock.

A number of research analysts have recently commented on HIG shares. Barclays set a $70.00 target price on shares of Hartford Financial Services Group and gave the stock a “buy” rating in a research report on Monday, August 12th. Morgan Stanley upped 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 report on Thursday, August 15th. ValuEngine raised shares of Hartford Financial Services Group from a “strong sell” rating to a “sell” rating in a report on Tuesday. MKM Partners upped their price target on shares of Hartford Financial Services Group to $70.00 and gave the company a “buy” rating in a report on Tuesday. Finally, Buckingham Research upped their price target on shares of Hartford Financial Services Group from $60.00 to $63.00 and gave the company a “buy” rating in a report on Friday, July 19th. One research analyst has rated the stock with a sell rating, three have given a hold rating and twelve have issued a buy rating to the stock. Hartford Financial Services Group currently has an average rating of “Buy” and a consensus price target of $63.75.

Shares of NYSE:HIG traded down $0.22 on Friday, reaching $60.78. 19,568 shares of the company’s stock were exchanged, compared to its average volume of 2,091,243. The firm has a market capitalization of $21.84 billion, a price-to-earnings ratio of 14.03, a PEG ratio of 1.18 and a beta of 0.62. Hartford Financial Services Group Inc has a fifty-two week low of $40.54 and a fifty-two week high of $61.63. The business’s 50-day moving average is $58.92 and its two-hundred day moving average is $56.71. The company has a quick ratio of 0.28, a current ratio of 0.29 and a debt-to-equity ratio of 0.28.

Hartford Financial Services Group (NYSE:HIG) last issued its earnings results on Monday, November 4th. The insurance provider reported $1.50 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.24 by $0.26. The company had revenue of $5.35 billion for the quarter, compared to analysts’ expectations of $5.22 billion. Hartford Financial Services Group had a net margin of 8.66% and a return on equity of 12.69%. The firm’s revenue was up 10.4% compared to the same quarter last year. During the same period in the prior year, the company earned $1.15 earnings per share. Analysts predict that Hartford Financial Services Group Inc will post 5.47 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Monday, December 2nd will be given a dividend of $0.30 per share. The ex-dividend date of this dividend is Friday, November 29th. This represents a $1.20 annualized dividend and a dividend yield of 1.97%. Hartford Financial Services Group’s dividend payout ratio is currently 27.71%.

In other news, CFO Beth Ann Costello sold 5,000 shares of the company’s stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $57.70, for a total transaction of $288,500.00. Following the completion of the transaction, the chief financial officer now owns 46,245 shares in the company, valued at $2,668,336.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Robert B. Allardice III sold 9,500 shares of the company’s stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $58.22, for a total transaction of $553,090.00. Following the transaction, the director now owns 21,684 shares of the company’s stock, valued at approximately $1,262,442.48. The disclosure for this sale can be found here. Insiders have sold 71,837 shares of company stock valued at $4,273,875 in the last 90 days. Insiders own 1.70% of the company’s stock.

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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