MML Investors Services LLC lifted its stake in Hartford Financial Services Group Inc (NYSE:HIG) by 34.0% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 5,347 shares of the insurance provider’s stock after buying an additional 1,356 shares during the quarter. MML Investors Services LLC’s holdings in Hartford Financial Services Group were worth $301,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently modified their holdings of the company. First Manhattan Co. boosted its stake in shares of Hartford Financial Services Group by 103.2% in the fourth quarter. First Manhattan Co. now owns 1,969 shares of the insurance provider’s stock worth $110,000 after buying an additional 1,000 shares during the last quarter. Cerebellum GP LLC purchased a new stake in shares of Hartford Financial Services Group in the fourth quarter worth about $129,000. Delpha Capital Management LLC purchased a new stake in shares of Hartford Financial Services Group in the fourth quarter worth about $157,000. Sheaff Brock Investment Advisors LLC purchased a new stake in shares of Hartford Financial Services Group in the fourth quarter worth about $200,000. Finally, Meyer Handelman Co. purchased a new stake in shares of Hartford Financial Services Group in the fourth quarter worth about $203,000. Hedge funds and other institutional investors own 89.86% of the company’s stock.
In other Hartford Financial Services Group news, EVP David C. Robinson sold 868 shares of the stock in a transaction that occurred on Monday, March 5th. The stock was sold at an average price of $51.39, for a total transaction of $44,606.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Scott R. Lewis sold 2,319 shares of the stock in a transaction that occurred on Wednesday, March 7th. The shares were sold at an average price of $53.87, for a total value of $124,924.53. Following the transaction, the senior vice president now directly owns 16,187 shares of the company’s stock, valued at approximately $871,993.69. The disclosure for this sale can be found here. 1.50% of the stock is owned by corporate insiders.
A number of analysts have recently commented on the company. ValuEngine upgraded Hartford Financial Services Group from a “hold” rating to a “buy” rating in a research note on Friday, February 2nd. Goldman Sachs assumed coverage on Hartford Financial Services Group in a research note on Monday, December 4th. They issued a “neutral” rating and a $59.00 target price on the stock. Wells Fargo set a $55.00 target price on Hartford Financial Services Group and gave the stock a “hold” rating in a research note on Monday, December 4th. Citigroup began coverage on Hartford Financial Services Group in a research note on Wednesday, December 20th. They issued a “neutral” rating and a $59.00 target price on the stock. Finally, Zacks Investment Research upgraded Hartford Financial Services Group from a “sell” rating to a “hold” rating in a research report on Wednesday, February 7th. Seven equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $58.92.
HIG stock opened at $53.67 on Wednesday. The stock has a market capitalization of $19,080.66, a P/E ratio of 15.49, a price-to-earnings-growth ratio of 1.28 and a beta of 1.00. The company has a current ratio of 0.26, a quick ratio of 0.26 and a debt-to-equity ratio of 0.35. Hartford Financial Services Group Inc has a 1 year low of $46.35 and a 1 year high of $59.20.
Hartford Financial Services Group (NYSE:HIG) last issued its quarterly earnings results on Thursday, February 8th. The insurance provider reported $0.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.77 by $0.04. The company had revenue of $4.54 billion for the quarter, compared to the consensus estimate of $4.54 billion. Hartford Financial Services Group had a positive return on equity of 7.89% and a negative net margin of 16.79%. Hartford Financial Services Group’s revenue for the quarter was up 14.1% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.08 earnings per share. equities analysts forecast that Hartford Financial Services Group Inc will post 4.4 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Monday, April 2nd. Shareholders of record on Monday, March 5th will be issued a dividend of $0.25 per share. The ex-dividend date is Friday, March 2nd. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.86%. Hartford Financial Services Group’s payout ratio is currently -11.31%.
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About Hartford Financial Services Group
The Hartford Financial Services Group, Inc is a holding company for insurance and financial services subsidiaries. The Company’s segments include Commercial Lines, which provides workers’ compensation, property, automobile, marine, livestock, liability and umbrella coverages primarily throughout the United States; Personal Lines, which provides automobile, homeowners and personal umbrella coverages to individuals across the United States; Group Benefits, which provides group life, accident and disability coverage, and other products and services; Property & Casualty Other Operations, which includes certain property and casualty operations; Mutual Funds, which provides investment management, administration, product distribution and related services to investors; Talcott Resolution, which consists of the run-off of the Company’s the United States individual and institutional annuity, and Private Placement Life Insurance (PPLI) businesses, and Corporate.
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