Swiss National Bank Reduces Position in Hartford Financial Services Group Inc (HIG)

Swiss National Bank lessened its holdings in shares of Hartford Financial Services Group Inc (NYSE:HIG) by 0.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,346,215 shares of the insurance provider’s stock after selling 9,600 shares during the period. Swiss National Bank owned 0.38% of Hartford Financial Services Group worth $75,765,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. California Public Employees Retirement System grew its stake in Hartford Financial Services Group by 6.6% during the 4th quarter. California Public Employees Retirement System now owns 1,251,879 shares of the insurance provider’s stock valued at $70,456,000 after acquiring an additional 77,858 shares in the last quarter. Goelzer Investment Management Inc. grew its stake in shares of Hartford Financial Services Group by 2.4% in the 4th quarter. Goelzer Investment Management Inc. now owns 98,478 shares of the insurance provider’s stock valued at $5,542,000 after buying an additional 2,308 shares during the period. ING Groep NV grew its stake in shares of Hartford Financial Services Group by 39.9% in the 4th quarter. ING Groep NV now owns 8,528 shares of the insurance provider’s stock valued at $480,000 after buying an additional 2,434 shares during the period. Alps Advisors Inc. grew its stake in shares of Hartford Financial Services Group by 16.3% in the 4th quarter. Alps Advisors Inc. now owns 18,431 shares of the insurance provider’s stock valued at $1,037,000 after buying an additional 2,579 shares during the period. Finally, Public Employees Retirement Association of Colorado grew its stake in shares of Hartford Financial Services Group by 2.9% in the 4th quarter. Public Employees Retirement Association of Colorado now owns 69,148 shares of the insurance provider’s stock valued at $3,892,000 after buying an additional 1,927 shares during the period. 87.59% of the stock is owned by institutional investors.

Several analysts have recently weighed in on the stock. Wells Fargo & Co set a $56.00 price target on shares of Hartford Financial Services Group and gave the company a “hold” rating in a research note on Friday, February 9th. ValuEngine raised shares of Hartford Financial Services Group from a “hold” rating to a “buy” rating in a research note on Friday, February 2nd. Zacks Investment Research raised shares of Hartford Financial Services Group from a “sell” rating to a “hold” rating in a research note on Wednesday, February 7th. Goldman Sachs Group assumed coverage on shares of Hartford Financial Services Group in a research note on Monday, December 4th. They issued a “neutral” rating and a $59.00 price target for the company. Finally, B. Riley reissued a “neutral” rating on shares of Hartford Financial Services Group in a research note on Monday, November 6th. Seven equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $59.00.

Hartford Financial Services Group Inc (HIG) opened at $53.97 on Wednesday. The company has a current ratio of 0.27, a quick ratio of 0.40 and a debt-to-equity ratio of 0.37. The firm has a market cap of $19,088.80, a P/E ratio of -6.11, a P/E/G ratio of 1.27 and a beta of 0.93. Hartford Financial Services Group Inc has a 1 year low of $46.35 and a 1 year high of $59.20.

Hartford Financial Services Group (NYSE:HIG) last posted its quarterly earnings data on Thursday, February 8th. The insurance provider reported $0.81 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.77 by $0.04. The firm had revenue of $4.54 billion during the quarter, compared to analysts’ expectations of $4.54 billion. Hartford Financial Services Group had a negative net margin of 16.79% and a positive return on equity of 7.89%. The firm’s quarterly revenue was up 14.1% on a year-over-year basis. During the same quarter last year, the company posted $1.08 EPS. analysts expect that Hartford Financial Services Group Inc will post 4.43 earnings per share for the current fiscal year.

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About Hartford Financial Services Group

The Hartford Financial Services Group, Inc is a holding company for insurance and financial services subsidiaries. The Company’s segments include Commercial Lines, which provides workers’ compensation, property, automobile, marine, livestock, liability and umbrella coverages primarily throughout the United States; Personal Lines, which provides automobile, homeowners and personal umbrella coverages to individuals across the United States; Group Benefits, which provides group life, accident and disability coverage, and other products and services; Property & Casualty Other Operations, which includes certain property and casualty operations; Mutual Funds, which provides investment management, administration, product distribution and related services to investors; Talcott Resolution, which consists of the run-off of the Company’s the United States individual and institutional annuity, and Private Placement Life Insurance (PPLI) businesses, and Corporate.

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

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