Two Sigma Investments LP purchased a new position in The Hartford (NYSE:HIG) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 424,129 shares of the insurance provider’s stock, valued at approximately $23,870,000. Two Sigma Investments LP owned about 0.12% of The Hartford at the end of the most recent reporting period.
Other large investors also recently modified their holdings of the company. Marathon Asset Management LLP increased its holdings in shares of The Hartford by 3.6% in the 4th quarter. Marathon Asset Management LLP now owns 965,265 shares of the insurance provider’s stock worth $54,552,000 after buying an additional 33,367 shares during the last quarter. California Public Employees Retirement System increased its holdings in shares of The Hartford by 3.7% in the 3rd quarter. California Public Employees Retirement System now owns 1,174,021 shares of the insurance provider’s stock worth $65,076,000 after buying an additional 42,330 shares during the last quarter. AMP Capital Investors Ltd increased its holdings in shares of The Hartford by 2.2% in the 3rd quarter. AMP Capital Investors Ltd now owns 273,812 shares of the insurance provider’s stock worth $15,175,000 after buying an additional 5,830 shares during the last quarter. St. Louis Trust Co bought a new position in shares of The Hartford in the 4th quarter worth $512,000. Finally, Cambridge Investment Research Advisors Inc. increased its holdings in shares of The Hartford by 20.1% in the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 11,547 shares of the insurance provider’s stock worth $640,000 after buying an additional 1,934 shares during the last quarter. 89.87% of the stock is currently owned by hedge funds and other institutional investors.
A number of brokerages have recently commented on HIG. Wells Fargo set a $56.00 price target on shares of The Hartford and gave the stock a “hold” rating in a report on Monday, April 2nd. Zacks Investment Research lowered shares of The Hartford from a “buy” rating to a “hold” rating in a report on Tuesday, March 13th. Citigroup began coverage on shares of The Hartford in a report on Wednesday, December 20th. They issued a “neutral” rating and a $59.00 price target on the stock. ValuEngine raised shares of The Hartford from a “hold” rating to a “buy” rating in a report on Friday, February 2nd. Finally, Credit Suisse Group raised shares of The Hartford from a “neutral” rating to an “outperform” rating and set a $65.00 price target on the stock in a report on Tuesday, December 19th. Six analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. The Hartford currently has an average rating of “Buy” and a consensus target price of $59.75.
Shares of The Hartford stock traded down $1.08 during trading on Friday, reaching $51.12. The company’s stock had a trading volume of 2,395,380 shares, compared to its average volume of 2,112,292. The Hartford has a 52-week low of $46.69 and a 52-week high of $59.20. The stock has a market capitalization of $18,634.43, a price-to-earnings ratio of 18.66, a price-to-earnings-growth ratio of 1.25 and a beta of 0.97. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.26 and a current ratio of 0.26.
The Hartford (NYSE:HIG) last announced its quarterly earnings results 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 analysts’ expectations of $4.54 billion. The Hartford had a negative net margin of 16.79% and a positive return on equity of 7.89%. The firm’s revenue for the quarter was up 14.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.08 EPS. equities research analysts forecast that The Hartford will post 4.4 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Monday, April 2nd. Shareholders of record on Monday, March 5th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, March 2nd. This represents a $1.00 annualized dividend and a yield of 1.96%. The Hartford’s payout ratio is currently 36.50%.
In other The Hartford news, SVP Scott R. Lewis sold 2,319 shares of the 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 sale, the senior vice president now owns 16,187 shares of the company’s stock, valued at approximately $871,993.69. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP David C. Robinson sold 868 shares of the stock in a transaction on Monday, March 5th. The shares were sold at an average price of $51.39, for a total transaction of $44,606.52. The disclosure for this sale can be found here. Corporate insiders own 1.50% of the company’s stock.
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About The Hartford
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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