18,932 Shares in Hartford Financial Services Group Inc (NYSE:HIG) Acquired by Acadian Asset Management LLC

Acadian Asset Management LLC acquired a new position in Hartford Financial Services Group Inc (NYSE:HIG) in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 18,932 shares of the insurance provider’s stock, valued at approximately $968,000.

Other institutional investors have also recently made changes to their positions in the company. United Capital Financial Advisers LLC purchased a new stake in shares of Hartford Financial Services Group in the first quarter worth approximately $224,000. North Star Investment Management Corp. purchased a new stake in shares of Hartford Financial Services Group in the second quarter worth approximately $241,000. Welch & Forbes LLC purchased a new stake in shares of Hartford Financial Services Group in the second quarter worth approximately $263,000. RNC Capital Management LLC purchased a new stake in shares of Hartford Financial Services Group in the second quarter worth approximately $289,000. Finally, First Citizens Bank & Trust Co. purchased a new stake in shares of Hartford Financial Services Group in the second quarter worth approximately $367,000. 89.49% of the stock is owned by institutional investors.

Shares of Hartford Financial Services Group stock traded down $0.13 during trading on Friday, reaching $50.37. The company’s stock had a trading volume of 1,662,000 shares, compared to its average volume of 2,210,835. The stock has a market capitalization of $18.24 billion, a price-to-earnings ratio of 18.38, a PEG ratio of 1.13 and a beta of 0.98. The company has a debt-to-equity ratio of 0.34, a current ratio of 0.29 and a quick ratio of 0.29. Hartford Financial Services Group Inc has a 1-year low of $49.67 and a 1-year high of $59.20.

Hartford Financial Services Group (NYSE:HIG) last issued its earnings results on Thursday, July 26th. The insurance provider reported $1.13 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.02 by $0.11. The company had revenue of $4.79 billion during the quarter, compared to analyst estimates of $4.63 billion. Hartford Financial Services Group had a positive return on equity of 9.84% and a negative net margin of 12.24%. The firm’s quarterly revenue was up 13.6% on a year-over-year basis. During the same quarter last year, the business posted $0.81 EPS. equities research analysts anticipate that Hartford Financial Services Group Inc will post 4.75 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Monday, October 1st. Investors of record on Tuesday, September 4th will be paid a $0.30 dividend. This is a positive change from Hartford Financial Services Group’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend is Friday, August 31st. This represents a $1.20 dividend on an annualized basis and a yield of 2.38%. Hartford Financial Services Group’s dividend payout ratio (DPR) is 36.50%.

In related news, EVP David C. Robinson sold 2,395 shares of Hartford Financial Services Group stock in a transaction dated Tuesday, July 31st. The stock was sold at an average price of $52.88, for a total value of $126,647.60. Following the completion of the transaction, the executive vice president now owns 21,398 shares in the company, valued at approximately $1,131,526.24. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Beth Ann Bombara sold 23,906 shares of Hartford Financial Services Group stock in a transaction dated Wednesday, August 1st. The shares were sold at an average price of $52.63, for a total value of $1,258,172.78. Following the completion of the transaction, the chief financial officer now owns 52,291 shares of the company’s stock, valued at approximately $2,752,075.33. The disclosure for this sale can be found here. Company insiders own 1.50% of the company’s stock.

Several brokerages recently issued reports on HIG. Zacks Investment Research raised Hartford Financial Services Group from a “hold” rating to a “buy” rating and set a $56.00 price objective on the stock in a research note on Monday. Evercore ISI started coverage on Hartford Financial Services Group in a research note on Thursday, June 7th. They issued an “inline” rating and a $57.00 price objective on the stock. B. Riley increased their target price on Hartford Financial Services Group from $52.00 to $55.00 and gave the company a “neutral” rating in a research report on Tuesday, August 7th. ValuEngine cut Hartford Financial Services Group from a “hold” rating to a “sell” rating in a research report on Thursday, August 2nd. Finally, Credit Suisse Group started coverage on Hartford Financial Services Group in a research report on Tuesday, August 7th. They set a “neutral” rating and a $57.00 target price on the stock. One investment analyst has rated the stock with a sell rating, five have given a hold rating and five have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $58.73.

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. It operates through five segments: Commercial Lines, Personal Lines, Property & Casualty Other Operations, Group Benefits, and Mutual Funds.

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

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