Gamco Investors INC. ET AL decreased its holdings in Hartford Financial Services Group Inc (NYSE:HIG) by 4.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 118,320 shares of the insurance provider’s stock after selling 5,200 shares during the period. Gamco Investors INC. ET AL’s holdings in Hartford Financial Services Group were worth $5,911,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also bought and sold shares of the company. Scout Investments Inc. bought a new stake in shares of Hartford Financial Services Group in the 2nd quarter worth approximately $21,568,000. Unigestion Holding SA bought a new stake in shares of Hartford Financial Services Group in the 2nd quarter worth approximately $20,503,000. Deprince Race & Zollo Inc. bought a new stake in shares of Hartford Financial Services Group in the 2nd quarter worth approximately $18,741,000. Dimensional Fund Advisors LP lifted its holdings in shares of Hartford Financial Services Group by 8.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 4,208,452 shares of the insurance provider’s stock worth $215,175,000 after acquiring an additional 327,834 shares during the last quarter. Finally, Point72 Asset Management L.P. lifted its holdings in shares of Hartford Financial Services Group by 85.2% in the 2nd quarter. Point72 Asset Management L.P. now owns 657,971 shares of the insurance provider’s stock worth $33,642,000 after acquiring an additional 302,671 shares during the last quarter. Hedge funds and other institutional investors own 89.39% of the company’s stock.
In other news, EVP David C. Robinson sold 2,395 shares of the firm’s stock in a transaction on Wednesday, October 31st. The stock was sold at an average price of $45.62, for a total transaction of $109,259.90. Following the transaction, the executive vice president now owns 19,003 shares in the company, valued at $866,916.86. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 1.50% of the company’s stock.
Hartford Financial Services Group (NYSE:HIG) last announced its quarterly earnings results on Thursday, October 25th. The insurance provider reported $1.15 EPS for the quarter, beating the consensus estimate of $1.04 by $0.11. The firm had revenue of $4.80 billion for the quarter. Hartford Financial Services Group had a positive return on equity of 12.20% and a negative net margin of 11.09%. As a group, research analysts anticipate that Hartford Financial Services Group Inc will post 4.65 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 2nd. Stockholders of record on Monday, December 3rd will be paid a dividend of $0.30 per share. The ex-dividend date is Friday, November 30th. This represents a $1.20 annualized dividend and a dividend yield of 2.74%. Hartford Financial Services Group’s dividend payout ratio is currently 43.80%.
A number of brokerages have recently weighed in on HIG. B. Riley boosted their price objective on shares of Hartford Financial Services Group from $52.00 to $55.00 and gave the stock a “neutral” rating in a report on Tuesday, August 7th. Wells Fargo & Co reaffirmed a “hold” rating and issued a $53.00 target price on shares of Hartford Financial Services Group in a research note on Thursday. Zacks Investment Research raised shares of Hartford Financial Services Group from a “hold” rating to a “buy” rating and set a $56.00 target price on the stock in a research note on Monday, August 27th. Buckingham Research set a $58.00 target price on shares of Hartford Financial Services Group and gave the stock a “buy” rating in a research note on Monday, October 29th. Finally, Royal Bank of Canada decreased their target price on shares of Hartford Financial Services Group to $58.00 and set an “outperform” rating on the stock in a research note on Monday, October 29th. They noted that the move was a valuation call. One research analyst has rated the stock with a sell rating, six have issued a hold rating and six have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $57.23.
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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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