Lourd Capital LLC Takes $285,000 Position in Hartford Financial Services Group Inc (HIG)

Lourd Capital LLC bought a new stake in shares of Hartford Financial Services Group Inc (NYSE:HIG) during the 3rd quarter, HoldingsChannel.com reports. The institutional investor bought 5,711 shares of the insurance provider’s stock, valued at approximately $285,000.

A number of other institutional investors also recently added to or reduced their stakes in HIG. Migdal Insurance & Financial Holdings Ltd. increased its stake in Hartford Financial Services Group by 8,566.7% during the 2nd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 2,080 shares of the insurance provider’s stock valued at $106,000 after buying an additional 2,056 shares during the period. First Mercantile Trust Co. acquired a new position in Hartford Financial Services Group during the 2nd quarter valued at about $133,000. Hartford Financial Management Inc. acquired a new position in Hartford Financial Services Group during the 2nd quarter valued at about $143,000. BTIM Corp. acquired a new position in Hartford Financial Services Group during the 2nd quarter valued at about $211,000. Finally, Piedmont Investment Advisors LLC acquired a new position in Hartford Financial Services Group during the 2nd quarter valued at about $215,000. 89.47% of the stock is currently owned by hedge funds and other institutional investors.

Several equities analysts have commented on HIG shares. Sandler O’Neill started coverage on shares of Hartford Financial Services Group in a research note on Monday, September 10th. They set a “buy” rating and a $60.00 target price on the stock. Zacks Investment Research cut shares of Hartford Financial Services Group from a “buy” rating to a “hold” rating in a research note on Wednesday, September 5th. Credit Suisse Group initiated coverage on shares of Hartford Financial Services Group in a research note on Tuesday, August 7th. They issued a “neutral” rating and a $57.00 price objective on the stock. B. Riley raised shares of Hartford Financial Services Group from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $55.00 to $60.00 in a research note on Monday, September 24th. Finally, TheStreet raised shares of Hartford Financial Services Group from a “c” rating to a “b” rating in a research note on Thursday, July 26th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and five have issued a buy rating to the company’s stock. Hartford Financial Services Group currently has a consensus rating of “Hold” and an average price target of $58.73.

Shares of HIG opened at $46.79 on Friday. The company has a market capitalization of $17.91 billion, a PE ratio of 17.08, a price-to-earnings-growth ratio of 1.11 and a beta of 0.93. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.29 and a current ratio of 0.29. Hartford Financial Services Group Inc has a 12-month low of $45.96 and a 12-month high of $59.20.

Hartford Financial Services Group (NYSE:HIG) last announced its quarterly earnings data on Thursday, July 26th. The insurance provider reported $1.13 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.02 by $0.11. The company had revenue of $4.79 billion for the quarter, compared to analysts’ expectations of $4.63 billion. Hartford Financial Services Group had a negative net margin of 12.24% and a positive return on equity of 9.84%. The business’s revenue was up 13.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.81 EPS. As a group, research analysts forecast that Hartford Financial Services Group Inc will post 4.76 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Monday, October 1st. Stockholders of record on Tuesday, September 4th were paid a $0.30 dividend. The ex-dividend date was Friday, August 31st. This represents a $1.20 annualized dividend and a dividend yield of 2.56%. This is a boost from Hartford Financial Services Group’s previous quarterly dividend of $0.25. Hartford Financial Services Group’s payout ratio is currently 43.80%.

In other news, CFO Beth Ann Bombara sold 23,906 shares of Hartford Financial Services Group stock in a transaction that occurred on Wednesday, August 1st. The shares were sold at an average price of $52.63, for a total value of $1,258,172.78. Following the transaction, the chief financial officer now directly owns 52,291 shares of the company’s stock, valued at $2,752,075.33. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP David C. Robinson sold 2,395 shares of Hartford Financial Services Group stock in a transaction that occurred on Tuesday, July 31st. The stock was sold at an average price of $52.88, for a total transaction of $126,647.60. Following the completion of the transaction, the executive vice president now directly owns 21,398 shares in the company, valued at $1,131,526.24. The disclosure for this sale can be found here. Insiders own 1.50% of the company’s stock.

About Hartford Financial Services Group

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

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