Forsta AP Fonden Trims Stake in Hartford Financial Services Group Inc (HIG)

Forsta AP Fonden trimmed its position in Hartford Financial Services Group Inc (NYSE:HIG) by 4.8% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 86,700 shares of the insurance provider’s stock after selling 4,400 shares during the quarter. Forsta AP Fonden’s holdings in Hartford Financial Services Group were worth $4,433,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of HIG. Scout Investments Inc. bought a new stake in shares of Hartford Financial Services Group in the second quarter worth about $21,568,000. Unigestion Holding SA bought a new stake in Hartford Financial Services Group during the second quarter worth approximately $20,503,000. Deprince Race & Zollo Inc. bought a new stake in Hartford Financial Services Group during the second quarter worth approximately $18,741,000. Dimensional Fund Advisors LP increased its stake in Hartford Financial Services Group by 8.4% during the second 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. increased its stake in Hartford Financial Services Group by 85.2% during the second 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. 89.46% of the stock is currently owned by hedge funds and other institutional investors.

Several equities research analysts have weighed in on HIG shares. Credit Suisse Group started coverage on Hartford Financial Services Group in a research note on Tuesday, August 7th. They set a “neutral” rating and a $57.00 price objective on the stock. TheStreet raised Hartford Financial Services Group from a “c” rating to a “b” rating in a research note on Thursday, July 26th. Zacks Investment Research cut Hartford Financial Services Group from a “buy” rating to a “hold” rating in a research note on Thursday, August 2nd. Sandler O’Neill started coverage on Hartford Financial Services Group in a research note on Monday, September 10th. They set a “buy” rating and a $60.00 price objective on the stock. Finally, ValuEngine cut Hartford Financial Services Group from a “hold” rating to a “sell” rating in a research note on Thursday, August 2nd. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and four have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $58.45.

In other news, EVP David C. Robinson sold 2,395 shares of the company’s stock in a transaction that occurred on Tuesday, July 31st. The stock was sold at an average price of $52.88, for a total transaction of $126,647.60. Following the transaction, the executive vice president now owns 21,398 shares of the company’s stock, valued at $1,131,526.24. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Beth Ann Bombara sold 23,906 shares of the company’s stock in a transaction that occurred on Wednesday, August 1st. The shares were sold at an average price of $52.63, for a total value of $1,258,172.78. Following the transaction, the chief financial officer now directly owns 52,291 shares in the company, valued at approximately $2,752,075.33. The disclosure for this sale can be found here. Corporate insiders own 1.50% of the company’s stock.

HIG opened at $49.84 on Friday. The company has a market cap of $17.54 billion, a PE ratio of 12.85, a price-to-earnings-growth ratio of 1.08 and a beta of 0.94. Hartford Financial Services Group Inc has a one year low of $48.79 and a one year high of $59.20. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 0.34.

Hartford Financial Services Group (NYSE:HIG) last released its earnings results on Thursday, July 26th. The insurance provider reported $1.13 EPS for the quarter, beating analysts’ consensus estimates of $1.02 by $0.11. The firm had revenue of $4.79 billion for the quarter, compared to analysts’ expectations of $4.63 billion. Hartford Financial Services Group had a positive return on equity of 9.84% and a negative net margin of 12.24%. The company’s quarterly revenue was up 13.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.81 earnings per share. equities research analysts predict that Hartford Financial Services Group Inc will post 4.76 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, October 1st. Stockholders of record on Tuesday, September 4th will be paid a dividend of $0.30 per share. This is a boost from Hartford Financial Services Group’s previous quarterly dividend of $0.25. The ex-dividend date is Friday, August 31st. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.41%. Hartford Financial Services Group’s dividend payout ratio is currently 43.80%.

About Hartford Financial Services Group

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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Institutional Ownership by Quarter for Hartford Financial Services Group (NYSE:HIG)

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