Alliancebernstein L.P. lessened its position in The Hartford (NYSE:HIG) by 3.0% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 625,770 shares of the insurance provider’s stock after selling 19,382 shares during the quarter. Alliancebernstein L.P. owned approximately 0.18% of The Hartford worth $35,218,000 as of its most recent filing with the SEC.
Several other large investors have also recently modified their holdings of the stock. ETRADE Capital Management LLC lifted its position in shares of The Hartford by 11.8% in the 3rd quarter. ETRADE Capital Management LLC now owns 8,567 shares of the insurance provider’s stock valued at $475,000 after acquiring an additional 907 shares in the last quarter. First Manhattan Co. lifted its position in The Hartford by 103.2% in the 4th quarter. First Manhattan Co. now owns 1,969 shares of the insurance provider’s stock worth $110,000 after buying an additional 1,000 shares in the last quarter. Chevy Chase Trust Holdings Inc. lifted its position in The Hartford by 0.3% in the 3rd quarter. Chevy Chase Trust Holdings Inc. now owns 319,038 shares of the insurance provider’s stock worth $17,683,000 after buying an additional 1,027 shares in the last quarter. BB&T Securities LLC lifted its position in The Hartford by 3.9% in the 3rd quarter. BB&T Securities LLC now owns 28,158 shares of the insurance provider’s stock worth $1,561,000 after buying an additional 1,044 shares in the last quarter. Finally, CIBC Asset Management Inc lifted its position in The Hartford by 3.0% in the 4th quarter. CIBC Asset Management Inc now owns 36,601 shares of the insurance provider’s stock worth $2,060,000 after buying an additional 1,057 shares in the last quarter. Institutional investors and hedge funds own 89.87% of the company’s stock.
In related news, EVP David C. Robinson sold 868 shares of the firm’s stock in a transaction on Monday, March 5th. The shares were sold at an average price of $51.39, for a total value of $44,606.52. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Scott R. Lewis sold 2,319 shares of the firm’s stock in a transaction on Wednesday, March 7th. The shares were sold at an average price of $53.87, for a total transaction of $124,924.53. Following the completion of the transaction, the senior vice president now owns 16,187 shares in the company, valued at $871,993.69. The disclosure for this sale can be found here. Company insiders own 1.50% of the company’s stock.
Shares of HIG traded down $1.08 during mid-day trading on Friday, hitting $51.12. 2,395,380 shares of the company’s stock were exchanged, compared to its average volume of 2,112,292. The Hartford has a twelve month low of $46.69 and a twelve month high of $59.20. The firm has a market cap of $18,248.87, a price-to-earnings ratio of 18.66, a price-to-earnings-growth ratio of 1.22 and a beta of 0.97. 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 Hartford (NYSE:HIG) last announced its quarterly earnings results on Thursday, February 8th. The insurance provider reported $0.81 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.77 by $0.04. The Hartford had a negative net margin of 16.79% and a positive return on equity of 7.89%. The company had revenue of $4.54 billion for the quarter, compared to analyst estimates of $4.54 billion. During the same quarter in the prior year, the business posted $1.08 EPS. The Hartford’s quarterly revenue was up 14.1% on a year-over-year basis. research analysts predict that The Hartford will post 4.4 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Monday, April 2nd. Investors of record on Monday, March 5th were paid a $0.25 dividend. The ex-dividend date of this dividend was Friday, March 2nd. This represents a $1.00 dividend on an annualized basis and a yield of 1.96%. The Hartford’s payout ratio is presently 36.50%.
A number of equities research analysts have issued reports on HIG shares. Zacks Investment Research downgraded shares of The Hartford from a “hold” rating to a “strong sell” rating in a research report on Tuesday, December 26th. Credit Suisse Group upgraded shares of The Hartford from a “neutral” rating to an “outperform” rating and set a $65.00 target price for the company in a research report on Tuesday, December 19th. ValuEngine upgraded shares of The Hartford from a “hold” rating to a “buy” rating in a research report on Friday, February 2nd. Wells Fargo set a $56.00 target price on shares of The Hartford and gave the stock a “hold” rating in a research report on Friday, February 9th. Finally, Citigroup started coverage on shares of The Hartford in a research report on Wednesday, December 20th. They issued a “neutral” rating and a $59.00 target price for the company. Six equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. The Hartford currently has an average rating of “Buy” and an average target price of $59.75.
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The Hartford 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. It operates through five segments: Commercial Lines, Personal Lines, Property & Casualty Other Operations, Group Benefits, and Mutual Funds.
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