Teacher Retirement System of Texas Has $26.20 Million Stake in Hartford Financial Services Group Inc (NYSE:HIG)

Teacher Retirement System of Texas trimmed its position in Hartford Financial Services Group Inc (NYSE:HIG) by 10.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 431,064 shares of the insurance provider’s stock after selling 49,732 shares during the quarter. Teacher Retirement System of Texas owned 0.12% of Hartford Financial Services Group worth $26,196,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. BlackRock Inc. boosted its position in Hartford Financial Services Group by 8.1% during the second quarter. BlackRock Inc. now owns 30,044,477 shares of the insurance provider’s stock worth $1,674,077,000 after purchasing an additional 2,257,147 shares during the period. Cerebellum GP LLC bought a new stake in Hartford Financial Services Group during the third quarter worth approximately $129,000. NuWave Investment Management LLC boosted its position in Hartford Financial Services Group by 305.8% during the third quarter. NuWave Investment Management LLC now owns 2,045 shares of the insurance provider’s stock worth $121,000 after purchasing an additional 1,541 shares during the period. Wealthfront Advisers LLC boosted its position in Hartford Financial Services Group by 12.7% during the third quarter. Wealthfront Advisers LLC now owns 16,103 shares of the insurance provider’s stock worth $976,000 after purchasing an additional 1,811 shares during the period. Finally, Sumitomo Mitsui DS Asset Management Company Ltd boosted its position in Hartford Financial Services Group by 16.2% during the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 22,355 shares of the insurance provider’s stock worth $1,354,000 after purchasing an additional 3,124 shares during the period. Institutional investors and hedge funds own 90.57% of the company’s stock.

Hartford Financial Services Group stock traded down $0.40 during mid-day trading on Friday, hitting $58.84. 67,907 shares of the company were exchanged, compared to its average volume of 2,253,190. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 0.30. The business has a fifty day moving average of $59.87 and a 200 day moving average of $59.66. Hartford Financial Services Group Inc has a 1-year low of $47.50 and a 1-year high of $62.75. The company has a market capitalization of $21.26 billion, a PE ratio of 10.41, a price-to-earnings-growth ratio of 1.14 and a beta of 0.60.

Hartford Financial Services Group (NYSE:HIG) last released its quarterly earnings data on Monday, February 3rd. The insurance provider reported $1.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.32 by $0.11. The firm had revenue of $5.36 billion during the quarter, compared to analyst estimates of $5.23 billion. Hartford Financial Services Group had a return on equity of 13.60% and a net margin of 10.05%. The business’s revenue for the quarter was up 15.7% compared to the same quarter last year. During the same period in the prior year, the company posted $0.78 earnings per share. Research analysts expect that Hartford Financial Services Group Inc will post 5.43 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 2nd. Stockholders of record on Monday, March 2nd will be issued a dividend of $0.325 per share. This represents a $1.30 annualized dividend and a dividend yield of 2.21%. The ex-dividend date is Friday, February 28th. This is a boost from Hartford Financial Services Group’s previous quarterly dividend of $0.30. Hartford Financial Services Group’s dividend payout ratio is presently 21.24%.

A number of equities research analysts have issued reports on HIG shares. Citigroup started coverage on Hartford Financial Services Group in a research report on Tuesday, January 21st. They set a “neutral” rating and a $67.00 target price for the company. MKM Partners upped their target price on Hartford Financial Services Group to $70.00 and gave the stock a “buy” rating in a research report on Tuesday, November 5th. Royal Bank of Canada cut Hartford Financial Services Group from an “outperform” rating to a “sector perform” rating and decreased their target price for the stock from $70.00 to $68.00 in a research report on Thursday, December 5th. Buckingham Research cut Hartford Financial Services Group from a “buy” rating to a “neutral” rating and set a $63.00 target price for the company. in a research report on Wednesday, January 22nd. They noted that the move was a valuation call. Finally, Wells Fargo & Co started coverage on Hartford Financial Services Group in a research report on Tuesday, February 4th. They set a “hold” rating and a $65.00 target price for the company. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and seven have given a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $66.00.

Hartford Financial Services Group Company 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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