Mutual of America Capital Management LLC Reduces Stock Holdings in The Hartford Financial Services Group, Inc. (NYSE:HIG)

Mutual of America Capital Management LLC lowered its position in The Hartford Financial Services Group, Inc. (NYSE:HIGFree Report) by 2.2% in the third quarter, HoldingsChannel reports. The fund owned 76,912 shares of the insurance provider’s stock after selling 1,736 shares during the quarter. Mutual of America Capital Management LLC’s holdings in The Hartford Financial Services Group were worth $5,454,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of HIG. Selway Asset Management purchased a new position in The Hartford Financial Services Group during the third quarter worth approximately $29,000. Quarry LP acquired a new position in shares of The Hartford Financial Services Group during the 1st quarter worth approximately $31,000. Benjamin F. Edwards & Company Inc. lifted its position in shares of The Hartford Financial Services Group by 85.7% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 520 shares of the insurance provider’s stock valued at $37,000 after buying an additional 240 shares in the last quarter. Massmutual Trust Co. FSB ADV grew its stake in The Hartford Financial Services Group by 63.6% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 525 shares of the insurance provider’s stock valued at $38,000 after acquiring an additional 204 shares during the period. Finally, Tyler Stone Wealth Management purchased a new stake in The Hartford Financial Services Group in the 2nd quarter worth $40,000. 90.81% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at The Hartford Financial Services Group

In other news, CEO Christopher Swift sold 956 shares of the business’s stock in a transaction that occurred on Monday, January 22nd. The shares were sold at an average price of $86.00, for a total value of $82,216.00. Following the sale, the chief executive officer now directly owns 170,180 shares of the company’s stock, valued at approximately $14,635,480. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other The Hartford Financial Services Group news, EVP David C. Robinson sold 15,000 shares of the stock in a transaction that occurred on Tuesday, February 6th. The shares were sold at an average price of $89.64, for a total transaction of $1,344,600.00. Following the sale, the executive vice president now directly owns 8,201 shares in the company, valued at approximately $735,137.64. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Christopher Swift sold 956 shares of the company’s stock in a transaction on Monday, January 22nd. The stock was sold at an average price of $86.00, for a total value of $82,216.00. Following the sale, the chief executive officer now directly owns 170,180 shares in the company, valued at approximately $14,635,480. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 339,050 shares of company stock worth $28,069,037. Company insiders own 2.00% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on HIG shares. Morgan Stanley increased their price objective on shares of The Hartford Financial Services Group from $76.00 to $78.00 and gave the company an “equal weight” rating in a report on Friday, October 27th. JPMorgan Chase & Co. cut The Hartford Financial Services Group from an “overweight” rating to a “neutral” rating and lowered their price objective for the stock from $94.00 to $91.00 in a report on Monday, January 8th. TD Cowen began coverage on The Hartford Financial Services Group in a report on Wednesday, January 10th. They set an “outperform” rating for the company. Oppenheimer began coverage on The Hartford Financial Services Group in a research note on Thursday, November 16th. They issued a “market perform” rating on the stock. Finally, Raymond James increased their price objective on The Hartford Financial Services Group from $90.00 to $100.00 and gave the company an “outperform” rating in a research note on Monday, February 5th. Seven investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $90.60.

Read Our Latest Research Report on HIG

The Hartford Financial Services Group Stock Up 1.2 %

Shares of NYSE HIG opened at $90.81 on Monday. The company has a market capitalization of $27.31 billion, a P/E ratio of 11.37, a P/E/G ratio of 1.30 and a beta of 0.87. The company has a debt-to-equity ratio of 0.29, a current ratio of 0.32 and a quick ratio of 0.31. The company has a 50 day simple moving average of $82.94 and a 200-day simple moving average of $76.48. The Hartford Financial Services Group, Inc. has a 1 year low of $64.25 and a 1 year high of $91.85.

The Hartford Financial Services Group (NYSE:HIGGet Free Report) last posted its earnings results on Friday, February 2nd. The insurance provider reported $3.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.44 by $0.62. The Hartford Financial Services Group had a return on equity of 19.82% and a net margin of 10.21%. The company had revenue of $6.40 billion during the quarter, compared to analysts’ expectations of $5.84 billion. During the same quarter last year, the firm earned $2.31 earnings per share. The firm’s quarterly revenue was up 6.4% compared to the same quarter last year. On average, equities research analysts predict that The Hartford Financial Services Group, Inc. will post 9.99 earnings per share for the current year.

About The Hartford Financial Services Group

(Free Report)

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 insurance coverages, including workers' compensation, property, automobile, general and professional liability, package business, umbrella, fidelity and surety, marine, livestock, and reinsurance through regional offices, branches, sales and policyholder service centers, independent retail agents and brokers, wholesale agents, and reinsurance brokers.

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Want to see what other hedge funds are holding HIG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for The Hartford Financial Services Group, Inc. (NYSE:HIGFree Report).

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

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