AIA Group Ltd Purchases 1,079 Shares of The Hartford Financial Services Group, Inc. (NYSE:HIG)

AIA Group Ltd raised its stake in shares of The Hartford Financial Services Group, Inc. (NYSE:HIGGet Rating) by 46.8% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 3,383 shares of the insurance provider’s stock after acquiring an additional 1,079 shares during the quarter. AIA Group Ltd’s holdings in The Hartford Financial Services Group were worth $243,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. CIBC Asset Management Inc lifted its holdings in shares of The Hartford Financial Services Group by 80.7% during the first quarter. CIBC Asset Management Inc now owns 59,374 shares of the insurance provider’s stock valued at $4,264,000 after acquiring an additional 26,521 shares during the period. Independent Advisor Alliance bought a new position in shares of The Hartford Financial Services Group during the first quarter valued at $300,000. IFM Investors Pty Ltd lifted its holdings in shares of The Hartford Financial Services Group by 6.3% during the first quarter. IFM Investors Pty Ltd now owns 50,531 shares of the insurance provider’s stock valued at $3,629,000 after acquiring an additional 3,005 shares during the period. MUFG Americas Holdings Corp lifted its holdings in shares of The Hartford Financial Services Group by 1.6% during the first quarter. MUFG Americas Holdings Corp now owns 117,303 shares of the insurance provider’s stock valued at $8,424,000 after acquiring an additional 1,799 shares during the period. Finally, Hazlett Burt & Watson Inc. bought a new position in shares of The Hartford Financial Services Group during the first quarter valued at $36,000. 93.01% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the company. Raymond James lifted their price objective on The Hartford Financial Services Group from $80.00 to $85.00 in a report on Tuesday, May 3rd. Credit Suisse Group lifted their price target on The Hartford Financial Services Group from $93.00 to $104.00 and gave the company an “outperform” rating in a report on Friday, June 3rd. Jefferies Financial Group cut their price target on The Hartford Financial Services Group from $77.00 to $72.00 and set a “hold” rating for the company in a report on Tuesday, July 12th. Citigroup started coverage on The Hartford Financial Services Group in a report on Monday, May 23rd. They issued a “buy” rating and a $81.00 price target for the company. Finally, Morgan Stanley cut their price target on The Hartford Financial Services Group from $77.00 to $73.00 and set an “equal weight” rating for the company in a report on Monday, May 23rd. Four investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, The Hartford Financial Services Group presently has a consensus rating of “Moderate Buy” and a consensus price target of $80.27.

The Hartford Financial Services Group Price Performance

Shares of HIG stock opened at $64.16 on Friday. The stock has a 50-day moving average price of $65.93 and a 200 day moving average price of $69.11. The company has a quick ratio of 0.30, a current ratio of 0.30 and a debt-to-equity ratio of 0.31. The firm has a market cap of $20.73 billion, a price-to-earnings ratio of 10.55, a PEG ratio of 1.26 and a beta of 0.92. The Hartford Financial Services Group, Inc. has a 12 month low of $61.59 and a 12 month high of $78.17.

The Hartford Financial Services Group (NYSE:HIGGet Rating) last announced its quarterly earnings data on Thursday, July 28th. The insurance provider reported $2.15 EPS for the quarter, topping analysts’ consensus estimates of $1.52 by $0.63. The firm had revenue of $3.77 billion during the quarter, compared to analyst estimates of $5.53 billion. The Hartford Financial Services Group had a return on equity of 15.03% and a net margin of 9.42%. During the same period last year, the company earned $2.33 earnings per share. Research analysts expect that The Hartford Financial Services Group, Inc. will post 7.15 EPS for the current year.

The Hartford Financial Services Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 4th. Stockholders of record on Thursday, September 1st will be given a dividend of $0.385 per share. The ex-dividend date is Wednesday, August 31st. This represents a $1.54 annualized dividend and a dividend yield of 2.40%. The Hartford Financial Services Group’s payout ratio is currently 25.33%.

About The Hartford Financial Services Group

(Get Rating)

The Hartford Financial Services Group, Inc provides insurance and financial services to individual and business customers in the United States, the United Kingdom, and internationally. Its Commercial Lines segment offers workers' compensation, property, automobile, liability, umbrella, bond, marine, livestock, and reinsurance; and customized insurance products and risk management services, including professional liability, bond, surety, and specialty casualty coverages through regional offices, branches, sales and policyholder service centers, independent retail agents and brokers, wholesale agents, and reinsurance brokers.

See Also

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

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