Mason Street Advisors LLC Increases Holdings in Hartford Financial Services Group Inc (HIG)

Mason Street Advisors LLC raised its stake in shares of Hartford Financial Services Group Inc (NYSE:HIG) by 1.4% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 51,283 shares of the insurance provider’s stock after buying an additional 706 shares during the period. Mason Street Advisors LLC’s holdings in Hartford Financial Services Group were worth $2,550,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in HIG. Harvest Group Wealth Management LLC purchased a new stake in Hartford Financial Services Group during the 1st quarter valued at $33,000. Pinnacle Bank purchased a new stake in shares of Hartford Financial Services Group in the 4th quarter worth $35,000. Horan Capital Advisors LLC. purchased a new stake in shares of Hartford Financial Services Group in the 1st quarter worth $37,000. Rational Advisors LLC increased its stake in shares of 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. Finally, Riverview Trust Co increased its stake in shares of Hartford Financial Services Group by 55.8% in the 1st quarter. Riverview Trust Co now owns 849 shares of the insurance provider’s stock worth $42,000 after purchasing an additional 304 shares in the last quarter. Institutional investors and hedge funds own 91.21% of the company’s stock.

In other Hartford Financial Services Group news, insider Martha Gervasi sold 5,039 shares of the stock in a transaction on Tuesday, May 14th. The stock was sold at an average price of $52.87, for a total value of $266,411.93. Following the completion of the sale, the insider now owns 15,210 shares in the company, valued at approximately $804,152.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Robert W. Paiano sold 5,000 shares of the stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $52.40, for a total value of $262,000.00. Following the completion of the sale, the executive vice president now owns 33,342 shares of the company’s stock, valued at approximately $1,747,120.80. The disclosure for this sale can be found here. Insiders sold a total of 15,039 shares of company stock valued at $778,412 in the last quarter. 1.70% of the stock is currently owned by company insiders.

Shares of HIG stock opened at $53.63 on Wednesday. Hartford Financial Services Group Inc has a 52-week low of $40.54 and a 52-week high of $54.10. The company has a quick ratio of 0.32, a current ratio of 0.32 and a debt-to-equity ratio of 0.27. The firm has a market capitalization of $19.37 billion, a price-to-earnings ratio of 12.39, a price-to-earnings-growth ratio of 1.10 and a beta of 0.73.

Hartford Financial Services Group (NYSE:HIG) last issued its quarterly earnings results on Wednesday, May 1st. The insurance provider reported $1.39 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.24 by $0.15. Hartford Financial Services Group had a return on equity of 12.46% and a net margin of 9.58%. The business had revenue of $4.94 billion during the quarter, compared to analyst estimates of $4.84 billion. During the same quarter in the prior year, the business posted $1.27 EPS. Hartford Financial Services Group’s revenue for the quarter was up 5.3% compared to the same quarter last year. Analysts expect that Hartford Financial Services Group Inc will post 5.12 EPS for the current year.

Hartford Financial Services Group announced that its Board of Directors has initiated a share buyback program on Monday, February 4th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the insurance provider to buy up to 5.9% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board believes its stock is undervalued.

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Monday, June 3rd will be paid a $0.30 dividend. The ex-dividend date is Friday, May 31st. This represents a $1.20 dividend on an annualized basis and a yield of 2.24%. Hartford Financial Services Group’s payout ratio is presently 27.71%.

HIG has been the subject of several analyst reports. Zacks Investment Research lowered Hartford Financial Services Group from a “buy” rating to a “hold” rating in a research note on Wednesday, May 8th. Wells Fargo & Co restated a “hold” rating and issued a $56.00 price objective on shares of Hartford Financial Services Group in a research note on Thursday, May 2nd. ValuEngine upgraded Hartford Financial Services Group from a “sell” rating to a “hold” rating in a research note on Friday, February 8th. Barclays upped their price objective on Hartford Financial Services Group from $55.00 to $57.00 and gave the stock an “overweight” rating in a research note on Monday, April 1st. Finally, TheStreet upgraded Hartford Financial Services Group from a “c+” rating to a “b-” rating in a research note on Thursday, March 14th. Five research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Hartford Financial Services Group currently has a consensus rating of “Buy” and a consensus price target of $57.25.

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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. 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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