Artemis Investment Management LLP Trims Position in Hartford Financial Services Group Inc (NYSE:HIG)

Artemis Investment Management LLP cut its holdings in shares of Hartford Financial Services Group Inc (NYSE:HIG) by 3.8% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 192,158 shares of the insurance provider’s stock after selling 7,642 shares during the period. Artemis Investment Management LLP owned 0.05% of Hartford Financial Services Group worth $11,667,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of HIG. Prime Capital Investment Advisors LLC purchased a new position in shares of Hartford Financial Services Group during the third quarter valued at approximately $25,000. Venturi Wealth Management LLC purchased a new position in shares of Hartford Financial Services Group during the third quarter valued at approximately $28,000. KCS Wealth Advisory purchased a new position in shares of Hartford Financial Services Group during the third quarter valued at approximately $32,000. Evoke Wealth LLC purchased a new position in shares of Hartford Financial Services Group during the third quarter valued at approximately $32,000. Finally, Thor Advisors LLC purchased a new position in shares of Hartford Financial Services Group during the third quarter valued at approximately $34,000. 90.28% of the stock is currently owned by hedge funds and other institutional investors.

NYSE HIG opened at $59.76 on Wednesday. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 0.28. Hartford Financial Services Group Inc has a twelve month low of $44.28 and a twelve month high of $62.75. The firm has a market capitalization of $21.55 billion, a PE ratio of 13.80, a P/E/G ratio of 1.13 and a beta of 0.63. The stock’s 50 day moving average is $60.80 and its 200 day moving average is $59.27.

Hartford Financial Services Group (NYSE:HIG) last released its quarterly earnings results on Monday, November 4th. The insurance provider reported $1.50 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.24 by $0.26. Hartford Financial Services Group had a return on equity of 12.69% and a net margin of 8.66%. The company had revenue of $5.35 billion for the quarter, compared to analyst estimates of $5.22 billion. During the same period in the previous year, the company posted $1.15 earnings per share. The firm’s revenue was up 10.4% on a year-over-year basis. On average, research analysts anticipate that Hartford Financial Services Group Inc will post 5.57 earnings per share for the current year.

The business also recently announced a quarterly dividend, which was paid on Thursday, January 2nd. Shareholders of record on Monday, December 2nd were issued a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 2.01%. The ex-dividend date of this dividend was Friday, November 29th. Hartford Financial Services Group’s dividend payout ratio (DPR) is 27.71%.

In other Hartford Financial Services Group news, EVP David C. Robinson sold 4,856 shares of the business’s stock in a transaction on Thursday, October 31st. The stock was sold at an average price of $56.86, for a total value of $276,112.16. Following the sale, the executive vice president now directly owns 17,184 shares of the company’s stock, valued at $977,082.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Jonathan R. Bennett sold 22,427 shares of the business’s stock in a transaction on Friday, November 15th. The stock was sold at an average price of $61.80, for a total value of $1,385,988.60. Insiders sold 63,262 shares of company stock worth $3,865,103 over the last three months. Corporate insiders own 1.70% of the company’s stock.

Several research firms recently weighed in on HIG. Wells Fargo & Co restated a “hold” rating and set a $58.00 price target on shares of Hartford Financial Services Group in a research report on Monday, November 4th. Royal Bank of Canada lowered Hartford Financial Services Group from an “outperform” rating to a “sector perform” rating and dropped their price target for the company from $70.00 to $68.00 in a research report on Thursday, December 5th. Evercore ISI upgraded Hartford Financial Services Group from an “in-line” rating to an “outperform” rating in a research report on Wednesday, October 16th. MKM Partners lifted their price target on Hartford Financial Services Group to $70.00 and gave the company a “buy” rating in a research report on Tuesday, November 5th. Finally, ValuEngine lowered Hartford Financial Services Group from a “sell” rating to a “strong sell” rating in a research report on Tuesday, December 3rd. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and nine have given a buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $64.55.

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.

See Also: Hedge Funds Explained

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

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