Hartford Financial Services Group Inc (NYSE:HIG) Shares Sold by Adirondack Research & Management Inc.

Adirondack Research & Management Inc. trimmed its holdings in Hartford Financial Services Group Inc (NYSE:HIG) by 3.4% during the first quarter, Holdings Channel reports. The institutional investor owned 8,555 shares of the insurance provider’s stock after selling 300 shares during the period. Adirondack Research & Management Inc.’s holdings in Hartford Financial Services Group were worth $425,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the business. Vanguard Group Inc boosted its stake in Hartford Financial Services Group by 1.2% in the 3rd quarter. Vanguard Group Inc now owns 37,098,691 shares of the insurance provider’s stock worth $1,853,451,000 after buying an additional 455,263 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in Hartford Financial Services Group by 12.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 5,109,074 shares of the insurance provider’s stock worth $227,084,000 after buying an additional 565,189 shares during the last quarter. Diamond Hill Capital Management Inc. lifted its stake in shares of Hartford Financial Services Group by 20.7% in the 4th quarter. Diamond Hill Capital Management Inc. now owns 4,653,359 shares of the insurance provider’s stock valued at $206,842,000 after purchasing an additional 797,185 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of Hartford Financial Services Group by 8.3% in the 4th quarter. Geode Capital Management LLC now owns 4,622,774 shares of the insurance provider’s stock valued at $205,120,000 after purchasing an additional 353,601 shares in the last quarter. Finally, Northern Trust Corp lifted its stake in shares of Hartford Financial Services Group by 1.2% in the 1st quarter. Northern Trust Corp now owns 4,109,789 shares of the insurance provider’s stock valued at $204,338,000 after purchasing an additional 49,213 shares in the last quarter. 89.92% of the stock is currently owned by hedge funds and other institutional investors.

Several equities analysts have recently weighed in on the company. Barclays lifted their price objective on Hartford Financial Services Group from $57.00 to $62.00 and gave the company an “overweight” rating in a research note on Wednesday, May 22nd. Zacks Investment Research raised 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 note on Friday, May 17th. Goldman Sachs Group raised Hartford Financial Services Group from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $53.00 to $64.00 in a research note on Wednesday, May 29th. Wells Fargo & Co reaffirmed 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. Finally, ValuEngine raised Hartford Financial Services Group from a “sell” rating to a “hold” rating in a research note on Wednesday, March 27th. Five investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Hartford Financial Services Group currently has an average rating of “Buy” and a consensus price target of $58.25.

NYSE HIG opened at $54.95 on Monday. The stock has a market capitalization of $19.86 billion, a PE ratio of 12.69, a PEG ratio of 1.14 and a beta of 0.68. Hartford Financial Services Group Inc has a 1-year low of $40.54 and a 1-year high of $55.42. The company has a current ratio of 0.32, a quick ratio of 0.32 and a debt-to-equity ratio of 0.27.

Hartford Financial Services Group (NYSE:HIG) last announced its earnings results on Wednesday, May 1st. The insurance provider reported $1.39 EPS for the quarter, beating the consensus estimate of $1.24 by $0.15. The business had revenue of $4.94 billion for the quarter, compared to the consensus estimate of $4.84 billion. Hartford Financial Services Group had a return on equity of 12.46% and a net margin of 9.58%. The company’s revenue was up 5.3% on a year-over-year basis. During the same period last year, the business posted $1.27 EPS. Sell-side analysts expect that Hartford Financial Services Group Inc will post 5.08 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Monday, June 3rd will be issued a dividend of $0.30 per share. The ex-dividend date is Friday, May 31st. This represents a $1.20 annualized dividend and a dividend yield of 2.18%. Hartford Financial Services Group’s payout ratio is currently 27.71%.

In related news, EVP Robert W. Paiano sold 5,000 shares of the firm’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $50.00, for a total transaction of $250,000.00. Following the sale, the executive vice president now directly owns 33,342 shares in the company, valued at approximately $1,667,100. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Trevor Fetter bought 10,000 shares of the company’s stock in a transaction that occurred on Thursday, May 9th. The shares were bought at an average price of $52.19 per share, for a total transaction of $521,900.00. Following the completion of the acquisition, the director now owns 50,945 shares in the company, valued at approximately $2,658,819.55. The disclosure for this purchase can be found here. Over the last quarter, insiders have sold 21,539 shares of company stock worth $1,132,272. Company insiders own 1.70% of the company’s stock.

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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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