Mercer Global Advisors Inc. ADV Takes Position in Hartford Financial Services Group Inc (HIG)

Mercer Global Advisors Inc. ADV bought a new stake in shares of Hartford Financial Services Group Inc (NYSE:HIG) during the 1st quarter, according to its most recent filing with the SEC. The fund bought 12,337 shares of the insurance provider’s stock, valued at approximately $548,000.

Several other institutional investors have also modified their holdings of HIG. Calamos Advisors LLC acquired a new position in shares of Hartford Financial Services Group during the first quarter worth approximately $763,000. Riverview Trust Co raised its stake in shares of Hartford Financial Services Group by 55.8% during the first quarter. Riverview Trust Co now owns 849 shares of the insurance provider’s stock worth $42,000 after buying an additional 304 shares during the last quarter. State of Alaska Department of Revenue raised its stake in shares of Hartford Financial Services Group by 15.7% during the first quarter. State of Alaska Department of Revenue now owns 90,088 shares of the insurance provider’s stock worth $4,478,000 after buying an additional 12,228 shares during the last quarter. Machina Capital S.A.S. bought a new stake in shares of Hartford Financial Services Group during the fourth quarter worth approximately $200,000. Finally, Pinnacle Bank bought a new stake in shares of Hartford Financial Services Group during the fourth quarter worth approximately $35,000. Institutional investors and hedge funds own 91.75% of the company’s stock.

In other Hartford Financial Services Group news, EVP Robert W. Paiano sold 5,000 shares of the firm’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $50.00, for a total value of $250,000.00. Following the transaction, the executive vice president now directly owns 33,342 shares of the company’s stock, valued at approximately $1,667,100. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 1.70% of the stock is owned by company insiders.

Shares of HIG traded up $0.50 during trading hours on Friday, hitting $53.01. The company had a trading volume of 2,687,551 shares, compared to its average volume of 1,735,407. Hartford Financial Services Group Inc has a 12 month low of $40.54 and a 12 month high of $54.03. The firm has a market capitalization of $18.98 billion, a PE ratio of 12.24, a PEG ratio of 1.08 and a beta of 0.73. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.32 and a quick ratio of 0.32.

Hartford Financial Services Group (NYSE:HIG) last released its quarterly earnings results on Wednesday, May 1st. The insurance provider reported $1.39 EPS for the quarter, topping analysts’ consensus estimates of $1.24 by $0.15. Hartford Financial Services Group had a net margin of 9.58% and a return on equity of 12.46%. The business had revenue of $4.94 billion for the quarter, compared to analyst estimates of $4.84 billion. During the same period last year, the firm earned $1.27 earnings per share. Hartford Financial Services Group’s revenue for the quarter was up 5.3% compared to the same quarter last year. Analysts predict that Hartford Financial Services Group Inc will post 5.12 earnings per share for the current fiscal year.

Hartford Financial Services Group announced that its board has authorized a share repurchase plan on Monday, February 4th that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the insurance provider to repurchase up to 5.9% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s management believes its stock is undervalued.

A number of equities research analysts recently weighed in on the stock. Zacks Investment Research downgraded shares of Hartford Financial Services Group from a “buy” rating to a “hold” rating in a research note on Wednesday. Wells Fargo & Co reissued a “hold” rating and set a $56.00 price target on shares of Hartford Financial Services Group in a research note on Thursday, May 2nd. Barclays boosted their price target on shares of Hartford Financial Services Group from $55.00 to $57.00 and gave the stock an “overweight” rating in a research note on Monday, April 1st. ValuEngine raised shares of Hartford Financial Services Group from a “sell” rating to a “hold” rating in a research note on Wednesday, March 27th. Finally, TheStreet raised shares of Hartford Financial Services Group from a “c+” rating to a “b-” rating in a research note on Thursday, March 14th. Five analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Hartford Financial Services Group presently has a consensus rating of “Buy” and a consensus target price of $57.25.

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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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