Wright Investors Service Inc. Buys 5,959 Shares of Hartford Financial Services Group Inc (NYSE:HIG)

Wright Investors Service Inc. grew its stake in shares of Hartford Financial Services Group Inc (NYSE:HIG) by 96.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 12,164 shares of the insurance provider’s stock after purchasing an additional 5,959 shares during the period. Wright Investors Service Inc.’s holdings in Hartford Financial Services Group were worth $678,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. NuWave Investment Management LLC lifted its position in Hartford Financial Services Group by 950.0% during the 2nd 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 during the period. Harvest Group Wealth Management LLC purchased a new position in Hartford Financial Services Group during the 1st quarter valued at about $33,000. Icon Wealth Partners LLC purchased a new position in Hartford Financial Services Group during the 1st quarter valued at about $33,000. Horan Capital Advisors LLC. purchased a new position in Hartford Financial Services Group during the 1st quarter valued at about $37,000. Finally, Cullen Frost Bankers Inc. purchased a new position in Hartford Financial Services Group during the 1st quarter valued at about $57,000. 90.71% of the stock is currently owned by hedge funds and other institutional investors.

Hartford Financial Services Group stock traded up $0.44 during trading hours on Thursday, hitting $57.69. The stock had a trading volume of 43,673 shares, compared to its average volume of 1,979,895. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.28 and a quick ratio of 0.28. The company has a market cap of $20.96 billion, a PE ratio of 13.26, a P/E/G ratio of 1.16 and a beta of 0.67. Hartford Financial Services Group Inc has a 12-month low of $40.54 and a 12-month high of $59.17. The stock has a 50-day simple moving average of $57.27.

Hartford Financial Services Group (NYSE:HIG) last issued its earnings results on Thursday, August 1st. The insurance provider reported $1.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.11 by $0.22. The business had revenue of $5.09 billion during 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 business’s revenue for the quarter was up 6.3% compared to the same quarter last year. During the same period in the previous year, the company earned $1.13 earnings per share. As a group, equities analysts forecast that Hartford Financial Services Group Inc will post 5.24 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Tuesday, September 3rd will be issued a dividend of $0.30 per share. The ex-dividend date of this dividend is Friday, August 30th. This represents a $1.20 annualized dividend and a dividend yield of 2.08%. Hartford Financial Services Group’s payout ratio is 27.71%.

In other news, Director Robert B. Allardice III sold 3,500 shares of the business’s stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $58.71, for a total transaction of $205,485.00. Following the completion of the transaction, the director now directly owns 21,684 shares of the company’s stock, valued at $1,273,067.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider William A. Bloom sold 7,927 shares of the business’s stock in a transaction that occurred on Tuesday, June 18th. The shares were sold at an average price of $54.48, for a total transaction of $431,862.96. Following the transaction, the insider now directly owns 23,440 shares of the company’s stock, valued at $1,277,011.20. The disclosure for this sale can be found here. Insiders have sold 103,959 shares of company stock valued at $5,805,656 over the last three months. 1.70% of the stock is owned by corporate insiders.

A number of brokerages recently issued reports on HIG. UBS Group lifted their price target on shares of Hartford Financial Services Group from $61.00 to $65.00 and gave the company a “buy” rating in a research report on Wednesday, July 10th. Goldman Sachs Group raised shares of Hartford Financial Services Group from a “neutral” rating to a “buy” rating and lifted their price target for the company from $53.00 to $64.00 in a research report on Wednesday, May 29th. Zacks Investment Research cut shares of Hartford Financial Services Group from a “buy” rating to a “hold” rating in a research report on Monday, May 20th. Barclays set a $70.00 price target on shares of Hartford Financial Services Group and gave the company a “buy” rating in a research report on Monday. Finally, B. Riley lifted their price target on shares of Hartford Financial Services Group from $66.00 to $69.00 and gave the company a “buy” rating in a research report on Wednesday, June 26th. Five analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target 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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