Employers Holdings Inc. Takes $162,000 Position in Hartford Financial Services Group Inc (NYSE:HIG)

Employers Holdings Inc. bought a new stake in Hartford Financial Services Group Inc (NYSE:HIG) in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 2,900 shares of the insurance provider’s stock, valued at approximately $162,000.

Several other hedge funds and other institutional investors have also modified their holdings of HIG. NuWave Investment Management LLC raised its holdings in Hartford Financial Services Group by 950.0% in the second quarter. NuWave Investment Management LLC now owns 504 shares of the insurance provider’s stock valued at $28,000 after acquiring an additional 456 shares in the last quarter. Harvest Group Wealth Management LLC acquired a new stake in Hartford Financial Services Group during the first quarter worth approximately $33,000. Icon Wealth Partners LLC acquired a new stake in Hartford Financial Services Group during the first quarter worth approximately $33,000. Horan Capital Advisors LLC. acquired a new stake in Hartford Financial Services Group during the first quarter worth approximately $37,000. Finally, Cullen Frost Bankers Inc. acquired a new stake in Hartford Financial Services Group during the first quarter worth approximately $57,000. Institutional investors and hedge funds own 90.71% of the company’s stock.

In related news, insider William A. Bloom sold 7,927 shares of Hartford Financial Services Group stock in a transaction on Tuesday, June 18th. The shares were sold at an average price of $54.48, for a total value of $431,862.96. Following the transaction, the insider now directly owns 23,440 shares in the company, valued at approximately $1,277,011.20. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Brion S. Johnson sold 32,094 shares of Hartford Financial Services Group stock in a transaction on Thursday, June 20th. The shares were sold at an average price of $55.22, for a total transaction of $1,772,230.68. Following the completion of the transaction, the insider now owns 62,819 shares in the company, valued at $3,468,865.18. The disclosure for this sale can be found here. Over the last quarter, insiders sold 103,959 shares of company stock worth $5,805,656. 1.70% of the stock is currently owned by insiders.

Shares of Hartford Financial Services Group stock traded up $0.58 during trading on Friday, reaching $58.47. The company’s stock had a trading volume of 1,714,800 shares, compared to its average volume of 1,952,592. The company has a 50-day moving average price of $57.39 and a two-hundred day moving average price of $52.67. The firm has a market cap of $21.14 billion, a PE ratio of 13.50, a P/E/G ratio of 1.15 and a beta of 0.67. Hartford Financial Services Group Inc has a fifty-two week low of $40.54 and a fifty-two week high of $59.17. The company has a current ratio of 0.28, a quick ratio of 0.28 and a debt-to-equity ratio of 0.27.

Hartford Financial Services Group (NYSE:HIG) last announced its earnings results on Thursday, August 1st. The insurance provider reported $1.33 EPS for the quarter, beating analysts’ consensus estimates of $1.11 by $0.22. The business had revenue of $5.09 billion for the quarter, compared to analysts’ expectations of $5.07 billion. Hartford Financial Services Group had a net margin of 8.36% and a return on equity of 12.44%. The company’s quarterly revenue was up 6.3% on a year-over-year basis. During the same period in the previous year, the company posted $1.13 EPS. On average, analysts predict that Hartford Financial Services Group Inc will post 5.24 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Tuesday, September 3rd will be given a $0.30 dividend. The ex-dividend date is Friday, August 30th. This represents a $1.20 dividend on an annualized basis and a yield of 2.05%. Hartford Financial Services Group’s dividend payout ratio (DPR) is 27.71%.

A number of research firms have weighed in on HIG. Royal Bank of Canada raised their price objective on shares of Hartford Financial Services Group to $68.00 and gave the stock an “outperform” rating in a report on Monday, August 5th. Wells Fargo & Co reissued a “hold” rating and set a $56.00 price objective on shares of Hartford Financial Services Group in a report on Thursday, May 2nd. Morgan Stanley raised their price objective on shares of Hartford Financial Services Group from $58.00 to $61.00 and gave the stock an “equal weight” rating in a report on Thursday. Goldman Sachs Group raised shares of Hartford Financial Services Group from a “neutral” rating to a “buy” rating and lifted their target price for the company from $53.00 to $64.00 in a report on Wednesday, May 29th. Finally, UBS Group lifted their target price on shares of Hartford Financial Services Group from $61.00 to $65.00 and gave the company a “buy” rating in a report on Wednesday, July 10th. Five research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $61.92.

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. 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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