Great Lakes Advisors LLC Sells 1,256 Shares of The Hartford Financial Services Group, Inc. (NYSE:HIG)

Great Lakes Advisors LLC cut its holdings in The Hartford Financial Services Group, Inc. (NYSE:HIGGet Rating) by 1.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 84,666 shares of the insurance provider’s stock after selling 1,256 shares during the period. Great Lakes Advisors LLC’s holdings in The Hartford Financial Services Group were worth $6,080,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in the business. Sheaff Brock Investment Advisors LLC bought a new stake in The Hartford Financial Services Group in the first quarter worth $876,000. AIA Group Ltd lifted its stake in The Hartford Financial Services Group by 46.8% in the first quarter. AIA Group Ltd now owns 3,383 shares of the insurance provider’s stock worth $243,000 after purchasing an additional 1,079 shares during the last quarter. CIBC Asset Management Inc lifted its stake in The Hartford Financial Services Group by 80.7% in the first quarter. CIBC Asset Management Inc now owns 59,374 shares of the insurance provider’s stock worth $4,264,000 after purchasing an additional 26,521 shares during the last quarter. Independent Advisor Alliance bought a new stake in The Hartford Financial Services Group in the first quarter worth $300,000. Finally, IFM Investors Pty Ltd lifted its stake in The Hartford Financial Services Group by 6.3% in the first quarter. IFM Investors Pty Ltd now owns 50,531 shares of the insurance provider’s stock worth $3,629,000 after purchasing an additional 3,005 shares during the last quarter. 93.01% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have weighed in on the stock. Barclays lowered their price target on shares of The Hartford Financial Services Group from $80.00 to $78.00 and set an “overweight” rating for the company in a research note on Monday, August 1st. Citigroup initiated coverage on shares of The Hartford Financial Services Group in a research report on Monday, May 23rd. They issued a “buy” rating and a $81.00 price objective on the stock. Royal Bank of Canada decreased their price objective on shares of The Hartford Financial Services Group from $77.00 to $71.00 and set a “sector perform” rating on the stock in a research report on Monday, August 1st. Morgan Stanley decreased their price objective on shares of The Hartford Financial Services Group from $77.00 to $73.00 and set an “equal weight” rating on the stock in a research report on Monday, May 23rd. Finally, Jefferies Financial Group decreased their price objective on shares of The Hartford Financial Services Group from $77.00 to $72.00 and set a “hold” rating on the stock in a research report on Tuesday, July 12th. Four investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $80.27.

The Hartford Financial Services Group Price Performance

Shares of NYSE HIG opened at $64.16 on Friday. The Hartford Financial Services Group, Inc. has a 1 year low of $61.59 and a 1 year high of $78.17. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.30 and a quick ratio of 0.30. The company’s 50-day moving average is $65.93 and its 200 day moving average is $69.11. The stock has a market capitalization of $20.73 billion, a P/E ratio of 10.55, a P/E/G ratio of 1.26 and a beta of 0.92.

The Hartford Financial Services Group (NYSE:HIGGet Rating) last announced its quarterly earnings results on Thursday, July 28th. The insurance provider reported $2.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.52 by $0.63. The Hartford Financial Services Group had a net margin of 9.42% and a return on equity of 15.03%. The company had revenue of $3.77 billion for the quarter, compared to analysts’ expectations of $5.53 billion. During the same quarter in the previous year, the company earned $2.33 earnings per share. On average, sell-side analysts expect that The Hartford Financial Services Group, Inc. will post 7.15 earnings per share for the current year.

The Hartford Financial Services Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 4th. Shareholders of record on Thursday, September 1st will be issued a $0.385 dividend. This represents a $1.54 dividend on an annualized basis and a yield of 2.40%. The ex-dividend date is Wednesday, August 31st. The Hartford Financial Services Group’s dividend payout ratio (DPR) is presently 25.33%.

About The Hartford Financial Services Group

(Get Rating)

The Hartford Financial Services Group, Inc provides insurance and financial services to individual and business customers in the United States, the United Kingdom, and internationally. Its Commercial Lines segment offers workers' compensation, property, automobile, liability, umbrella, bond, marine, livestock, and reinsurance; and customized insurance products and risk management services, including professional liability, bond, surety, and specialty casualty coverages through regional offices, branches, sales and policyholder service centers, independent retail agents and brokers, wholesale agents, and reinsurance brokers.

Further Reading

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

Receive News & Ratings for The Hartford Financial Services Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for The Hartford Financial Services Group and related companies with MarketBeat.com's FREE daily email newsletter.