Hartford Financial Services Group Inc (HIG) Position Boosted by Engineers Gate Manager LP

Engineers Gate Manager LP boosted its position in Hartford Financial Services Group Inc (NYSE:HIG) by 505.3% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 163,410 shares of the insurance provider’s stock after purchasing an additional 136,415 shares during the period. Hartford Financial Services Group makes up approximately 0.6% of Engineers Gate Manager LP’s holdings, making the stock its 16th biggest position. Engineers Gate Manager LP’s holdings in Hartford Financial Services Group were worth $8,164,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in HIG. Migdal Insurance & Financial Holdings Ltd. lifted its holdings in Hartford Financial Services Group by 8,566.7% in the second 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 in the second quarter valued at $133,000. Hartford Financial Management Inc. acquired a new position in Hartford Financial Services Group in the second quarter valued at $143,000. BTIM Corp. acquired a new position in Hartford Financial Services Group in the second quarter valued at $211,000. Finally, Piedmont Investment Advisors LLC acquired a new position in Hartford Financial Services Group in the second quarter valued at $215,000. Institutional investors and hedge funds own 89.54% of the company’s stock.

Shares of NYSE HIG opened at $44.89 on Friday. Hartford Financial Services Group Inc has a 1-year low of $43.31 and a 1-year high of $59.20. The stock has a market cap of $16.29 billion, a PE ratio of 10.42, a P/E/G ratio of 1.01 and a beta of 0.94. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 0.33.

Hartford Financial Services Group (NYSE:HIG) last announced its quarterly earnings data on Thursday, October 25th. The insurance provider reported $1.15 earnings per share for the quarter, beating the consensus estimate of $1.04 by $0.11. Hartford Financial Services Group had a negative net margin of 11.09% and a positive return on equity of 12.20%. The firm had revenue of $4.80 billion for the quarter. Equities analysts anticipate that Hartford Financial Services Group Inc will post 4.73 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 2nd. Stockholders of record on Monday, December 3rd will be issued a dividend of $0.30 per share. The ex-dividend date of this dividend is Friday, November 30th. This represents a $1.20 annualized dividend and a dividend yield of 2.67%. Hartford Financial Services Group’s dividend payout ratio is currently 43.80%.

Several equities analysts recently issued reports on the stock. B. Riley boosted their target price on shares of Hartford Financial Services Group from $52.00 to $55.00 and gave the company a “neutral” rating in a report on Tuesday, August 7th. Royal Bank of Canada dropped their price objective on shares of Hartford Financial Services Group to $58.00 and set an “outperform” rating on the stock in a report on Monday, October 29th. They noted that the move was a valuation call. Zacks Investment Research lowered shares of Hartford Financial Services Group from a “buy” rating to a “hold” rating in a report on Thursday, August 2nd. Sandler O’Neill assumed coverage on shares of Hartford Financial Services Group in a report on Monday, September 10th. They set a “buy” rating and a $60.00 price objective on the stock. Finally, Credit Suisse Group set a $56.00 price objective on shares of Hartford Financial Services Group and gave the company a “hold” rating in a report on Tuesday, October 9th. One research analyst has rated the stock with a sell rating, five have given a hold rating and five have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $57.82.

In other news, EVP David C. Robinson sold 2,395 shares of the business’s stock in a transaction dated Wednesday, October 31st. The shares were sold at an average price of $45.62, for a total transaction of $109,259.90. Following the completion of the sale, the executive vice president now directly owns 19,003 shares of the company’s stock, valued at $866,916.86. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 1.50% of the stock is currently owned by corporate insiders.

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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