Alliancebernstein L.P. lessened its holdings in shares of Hartford Financial Services Group Inc (NYSE:HIG) by 3.0% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 625,770 shares of the insurance provider’s stock after selling 19,382 shares during the quarter. Alliancebernstein L.P. owned about 0.18% of Hartford Financial Services Group worth $35,218,000 as of its most recent SEC filing.
A number of other hedge funds have also made changes to their positions in HIG. First Manhattan Co. boosted its position in Hartford Financial Services Group by 103.2% during the 4th quarter. First Manhattan Co. now owns 1,969 shares of the insurance provider’s stock worth $110,000 after acquiring an additional 1,000 shares during the period. Cerebellum GP LLC acquired a new position in Hartford Financial Services Group during the 4th quarter worth $129,000. Delpha Capital Management LLC acquired a new position in Hartford Financial Services Group during the 4th quarter worth $157,000. Sheaff Brock Investment Advisors LLC acquired a new position in Hartford Financial Services Group during the 4th quarter worth $200,000. Finally, Meyer Handelman Co. acquired a new position in Hartford Financial Services Group during the 4th quarter worth $203,000. Institutional investors own 91.07% of the company’s stock.
A number of research analysts have issued reports on HIG shares. ValuEngine upgraded Hartford Financial Services Group from a “hold” rating to a “buy” rating in a research report on Friday, February 2nd. Zacks Investment Research upgraded Hartford Financial Services Group from a “hold” rating to a “buy” rating and set a $60.00 price target for the company in a research report on Tuesday, March 6th. Wells Fargo set a $56.00 price target on Hartford Financial Services Group and gave the stock a “hold” rating in a research report on Friday, February 9th. Goldman Sachs initiated coverage on Hartford Financial Services Group in a report on Monday, December 4th. They issued a “neutral” rating and a $59.00 price objective for the company. Finally, Citigroup initiated coverage on Hartford Financial Services Group in a report on Wednesday, December 20th. They issued a “neutral” rating and a $59.00 price objective for the company. Seven analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $58.92.
Shares of Hartford Financial Services Group Inc (NYSE HIG) opened at $53.93 on Friday. The company has a quick ratio of 0.26, a current ratio of 0.26 and a debt-to-equity ratio of 0.35. The firm has a market capitalization of $19,250.00, a price-to-earnings ratio of 31.91, a PEG ratio of 1.29 and a beta of 1.00. Hartford Financial Services Group Inc has a twelve month low of $46.35 and a twelve month high of $59.20.
Hartford Financial Services Group (NYSE:HIG) last announced its quarterly earnings data on Thursday, February 8th. The insurance provider reported $0.81 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.77 by $0.04. The business had revenue of $4.54 billion during the quarter, compared to analyst estimates of $4.54 billion. Hartford Financial Services Group had a positive return on equity of 7.89% and a negative net margin of 16.79%. The company’s revenue was up 14.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.08 earnings per share. analysts forecast that Hartford Financial Services Group Inc will post 4.4 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Monday, April 2nd. Stockholders of record on Monday, March 5th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.85%. The ex-dividend date of this dividend is Friday, March 2nd. Hartford Financial Services Group’s dividend payout ratio (DPR) is presently 59.17%.
In other news, SVP Scott R. Lewis sold 2,319 shares of the business’s stock in a transaction on Wednesday, March 7th. The stock was sold at an average price of $53.87, for a total transaction of $124,924.53. Following the sale, the senior vice president now directly owns 16,187 shares of the company’s stock, valued at $871,993.69. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP David C. Robinson sold 868 shares of the business’s stock in a transaction on Monday, March 5th. The stock was sold at an average price of $51.39, for a total value of $44,606.52. The disclosure for this sale can be found here. 1.50% of the stock is owned by insiders.
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Hartford Financial Services Group Profile
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.
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