Hartford Financial Services Group Inc (HIG) Shares Sold by MetLife Investment Advisors LLC

MetLife Investment Advisors LLC lowered its stake in Hartford Financial Services Group Inc (NYSE:HIG) by 1.6% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 102,589 shares of the insurance provider’s stock after selling 1,675 shares during the quarter. MetLife Investment Advisors LLC’s holdings in Hartford Financial Services Group were worth $4,560,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Founders Capital Management purchased a new stake in Hartford Financial Services Group in the 4th quarter worth $27,000. Dubuque Bank & Trust Co. purchased a new stake in Hartford Financial Services Group in the 4th quarter worth $29,000. Rational Advisors LLC lifted its stake in Hartford Financial Services Group by 87.8% in the 4th quarter. Rational Advisors LLC now owns 875 shares of the insurance provider’s stock worth $39,000 after purchasing an additional 409 shares in the last quarter. Ipswich Investment Management Co. Inc. purchased a new stake in Hartford Financial Services Group in the 4th quarter worth $58,000. Finally, Lindbrook Capital LLC purchased a new stake in Hartford Financial Services Group in the 4th quarter worth $62,000. Institutional investors and hedge funds own 90.87% of the company’s stock.

Several analysts have commented on the stock. TheStreet upgraded shares of Hartford Financial Services Group from a “c+” rating to a “b-” rating in a research note on Thursday, March 14th. Wells Fargo & Co set a $53.00 price target on shares of Hartford Financial Services Group and gave the stock a “hold” rating in a research note on Wednesday, December 5th. Credit Suisse Group set a $53.00 price target on shares of Hartford Financial Services Group and gave the stock a “hold” rating in a research note on Thursday, December 13th. Langen Mcalenn upgraded shares of Hartford Financial Services Group from a “neutral” rating to a “buy” rating in a research note on Tuesday, December 4th. Finally, ValuEngine cut shares of Hartford Financial Services Group from a “hold” rating to a “sell” rating in a research note on Wednesday, January 2nd. One investment analyst has rated the stock with a sell rating, five have given a hold rating and nine have given a buy rating to the stock. Hartford Financial Services Group currently has an average rating of “Buy” and an average price target of $56.92.

In other Hartford Financial Services Group news, CEO Christopher Swift bought 11,423 shares of the firm’s stock in a transaction dated Thursday, January 10th. The shares were purchased at an average cost of $43.73 per share, for a total transaction of $499,527.79. Following the transaction, the chief executive officer now owns 135,389 shares of the company’s stock, valued at $5,920,560.97. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP David C. Robinson sold 2,392 shares of the company’s stock in a transaction dated Thursday, January 31st. The shares were sold at an average price of $46.35, for a total transaction of $110,869.20. The disclosure for this sale can be found here. 1.50% of the stock is currently owned by corporate insiders.

Shares of NYSE HIG opened at $48.53 on Friday. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.32 and a current ratio of 0.32. The stock has a market cap of $17.45 billion, a PE ratio of 11.21, a price-to-earnings-growth ratio of 1.03 and a beta of 0.72. Hartford Financial Services Group Inc has a 12-month low of $40.54 and a 12-month high of $55.16.

Hartford Financial Services Group (NYSE:HIG) last announced its earnings results on Monday, February 4th. The insurance provider reported $0.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.65 by $0.13. The firm had revenue of $4.63 billion for the quarter, compared to analysts’ expectations of $4.73 billion. Hartford Financial Services Group had a net margin of 9.53% and a return on equity of 12.31%. The business’s revenue was up 1.0% compared to the same quarter last year. During the same period in the prior year, the company earned $0.81 EPS. As a group, sell-side analysts expect that Hartford Financial Services Group Inc will post 4.98 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, April 1st. Stockholders of record on Monday, March 4th will be given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 2.47%. The ex-dividend date is Friday, March 1st. Hartford Financial Services Group’s dividend payout ratio is 27.71%.

Hartford Financial Services Group declared that its Board of Directors has approved a stock repurchase plan on Monday, February 4th that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the insurance provider to purchase up to 5.9% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s management believes its stock is undervalued.

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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. Its Commercial Lines segment offers workers' compensation, property, automobile, marine, livestock, liability, and umbrella coverages; and customized insurance products and risk management services, including professional liability, bond, surety, and specialty casualty coverages.

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

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