Vista Investment Management Grows Holdings in Hartford Financial Services Group Inc (HIG)

Vista Investment Management boosted its holdings in shares of Hartford Financial Services Group Inc (NYSE:HIG) by 2.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 12,669 shares of the insurance provider’s stock after purchasing an additional 310 shares during the period. Vista Investment Management’s holdings in Hartford Financial Services Group were worth $563,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the stock. Bronfman E.L. Rothschild L.P. increased its stake in Hartford Financial Services Group by 11.7% in the 4th quarter. Bronfman E.L. Rothschild L.P. now owns 2,140 shares of the insurance provider’s stock valued at $95,000 after buying an additional 224 shares during the period. Parallel Advisors LLC increased its stake in shares of Hartford Financial Services Group by 20.0% during the 4th quarter. Parallel Advisors LLC now owns 1,553 shares of the insurance provider’s stock worth $69,000 after purchasing an additional 259 shares during the last quarter. Shelton Capital Management increased its stake in shares of Hartford Financial Services Group by 7.1% during the 4th quarter. Shelton Capital Management now owns 4,522 shares of the insurance provider’s stock worth $201,000 after purchasing an additional 300 shares during the last quarter. Cigna Investments Inc. New increased its stake in shares of Hartford Financial Services Group by 3.1% during the 4th quarter. Cigna Investments Inc. New now owns 10,429 shares of the insurance provider’s stock worth $464,000 after purchasing an additional 312 shares during the last quarter. Finally, Mackay Shields LLC increased its stake in shares of Hartford Financial Services Group by 0.6% during the 4th quarter. Mackay Shields LLC now owns 57,482 shares of the insurance provider’s stock worth $2,555,000 after purchasing an additional 316 shares during the last quarter. 91.89% of the stock is owned by institutional investors and hedge funds.

In other news, EVP Robert W. Paiano sold 5,000 shares of Hartford Financial Services Group stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $50.00, for a total transaction of $250,000.00. Following the completion of the sale, the executive vice president now owns 33,342 shares in the company, valued at approximately $1,667,100. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP David C. Robinson sold 2,392 shares of Hartford Financial Services Group stock in a transaction that occurred on Thursday, January 31st. The stock was sold at an average price of $46.35, for a total transaction of $110,869.20. The disclosure for this sale can be found here. Company insiders own 1.50% of the company’s stock.

Shares of Hartford Financial Services Group stock traded down $0.32 during mid-day trading on Monday, reaching $50.75. 808,400 shares of the stock were exchanged, compared to its average volume of 2,168,435. The stock has a market capitalization of $18.42 billion, a P/E ratio of 11.72, a price-to-earnings-growth ratio of 1.07 and a beta of 0.72. The company has a quick ratio of 0.32, a current ratio of 0.32 and a debt-to-equity ratio of 0.33. Hartford Financial Services Group Inc has a fifty-two week low of $40.54 and a fifty-two week high of $55.16.

Hartford Financial Services Group (NYSE:HIG) last announced its earnings results on Monday, February 4th. The insurance provider reported $0.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.65 by $0.13. The business had revenue of $4.63 billion during the quarter, compared to analysts’ expectations of $4.73 billion. Hartford Financial Services Group had a net margin of 9.53% and a return on equity of 12.31%. The firm’s revenue for the quarter was up 1.0% on a year-over-year basis. During the same quarter last year, the company posted $0.81 EPS. On average, equities analysts anticipate that Hartford Financial Services Group Inc will post 4.98 earnings per share for the current year.

Hartford Financial Services Group announced that its Board of Directors has approved a stock repurchase program on Monday, February 4th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the insurance provider to buy up to 5.9% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Monday, March 4th were given a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 2.36%. The ex-dividend date of this dividend was Friday, March 1st. Hartford Financial Services Group’s payout ratio is presently 27.71%.

HIG has been the subject of several recent analyst reports. ValuEngine raised shares of Hartford Financial Services Group from a “sell” rating to a “hold” rating in a report on Thursday, December 27th. TheStreet downgraded shares of Hartford Financial Services Group from a “b-” rating to a “c+” rating in a report on Thursday, January 3rd. Compass Point initiated coverage on shares of Hartford Financial Services Group in a report on Tuesday, January 15th. They set a “buy” rating and a $58.00 price objective for the company. Finally, Barclays upped their price objective on shares of Hartford Financial Services Group from $55.00 to $57.00 and gave the stock an “overweight” rating in a report on Monday, April 1st. Six analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Hartford Financial Services Group presently has an average rating of “Buy” and an average target price of $56.77.

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Hartford Financial Services Group 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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