Hartford Financial Services Group Inc (HIG) Shares Bought by Marathon Asset Management LLP

Marathon Asset Management LLP raised its stake in shares of Hartford Financial Services Group Inc (NYSE:HIG) by 19.4% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,173,635 shares of the insurance provider’s stock after purchasing an additional 190,558 shares during the quarter. Marathon Asset Management LLP owned approximately 0.33% of Hartford Financial Services Group worth $58,970,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of HIG. Migdal Insurance & Financial Holdings Ltd. increased its position 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 purchasing an additional 2,056 shares during the period. First Mercantile Trust Co. purchased a new position in Hartford Financial Services Group during the 2nd quarter valued at $133,000. Hartford Financial Management Inc. purchased a new position in Hartford Financial Services Group during the 2nd quarter valued at $143,000. BTIM Corp. purchased a new position in Hartford Financial Services Group during the 2nd quarter valued at $211,000. Finally, Piedmont Investment Advisors LLC purchased a new position in Hartford Financial Services Group during the 2nd quarter valued at $215,000. 89.46% of the stock is currently owned by institutional investors and hedge funds.

A number of brokerages have issued reports on HIG. Buckingham Research set a $58.00 price objective on shares of Hartford Financial Services Group and gave the company a “buy” rating in a research report on Monday, October 29th. Zacks Investment Research raised shares of Hartford Financial Services Group from a “hold” rating to a “buy” rating and set a $59.00 price objective on the stock in a research report on Wednesday, August 1st. Royal Bank of Canada reduced their price objective on shares of Hartford Financial Services Group to $58.00 and set an “outperform” rating on the stock in a research report on Monday, October 29th. They noted that the move was a valuation call. Wells Fargo & Co set a $56.00 price objective on shares of Hartford Financial Services Group and gave the company a “hold” rating in a research report on Friday, October 26th. Finally, 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. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and five have assigned a buy rating to the company. The company 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 on Wednesday, October 31st. The shares were sold at an average price of $45.62, for a total transaction of $109,259.90. Following the sale, the executive vice president now owns 19,003 shares in the company, valued at approximately $866,916.86. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 1.50% of the company’s stock.

Shares of HIG stock opened at $44.89 on Monday. Hartford Financial Services Group Inc has a 12 month low of $43.31 and a 12 month high of $59.20. The firm has a market cap of $16.10 billion, a PE ratio of 16.38, a price-to-earnings-growth ratio of 1.00 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 earnings results on Thursday, October 25th. The insurance provider reported $1.15 EPS for the quarter, beating the Zacks’ 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. As a group, analysts expect that Hartford Financial Services Group Inc will post 4.73 earnings per share for the current year.

The firm also recently announced 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. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.67%. The ex-dividend date is Friday, November 30th. Hartford Financial Services Group’s dividend payout ratio (DPR) is presently 43.80%.

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

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