Man Group plc Boosts Position in Hartford Financial Services Group Inc (HIG)

Man Group plc increased its position in shares of Hartford Financial Services Group Inc (NYSE:HIG) by 35.4% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 566,800 shares of the insurance provider’s stock after acquiring an additional 148,174 shares during the period. Man Group plc owned about 0.16% of Hartford Financial Services Group worth $28,319,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. State Treasurer State of Michigan lifted its stake in Hartford Financial Services Group by 1.0% during the 2nd quarter. State Treasurer State of Michigan now owns 106,075 shares of the insurance provider’s stock worth $5,424,000 after acquiring an additional 1,000 shares in the last quarter. CIBC Asset Management Inc raised its position in Hartford Financial Services Group by 2.9% in the 2nd quarter. CIBC Asset Management Inc now owns 35,491 shares of the insurance provider’s stock valued at $1,815,000 after purchasing an additional 1,010 shares in the last quarter. CIBC World Markets Inc. raised its position in Hartford Financial Services Group by 9.8% in the 2nd quarter. CIBC World Markets Inc. now owns 11,374 shares of the insurance provider’s stock valued at $582,000 after purchasing an additional 1,011 shares in the last quarter. Advisors Capital Management LLC raised its position in Hartford Financial Services Group by 1.9% in the 3rd quarter. Advisors Capital Management LLC now owns 59,035 shares of the insurance provider’s stock valued at $2,949,000 after purchasing an additional 1,090 shares in the last quarter. Finally, SG Americas Securities LLC raised its position in Hartford Financial Services Group by 3.6% in the 3rd quarter. SG Americas Securities LLC now owns 32,182 shares of the insurance provider’s stock valued at $1,608,000 after purchasing an additional 1,113 shares in the last quarter. 89.30% of the stock is currently owned by hedge funds and other institutional investors.

In other news, EVP David C. Robinson sold 2,395 shares of the stock in a transaction dated Wednesday, October 31st. The stock was sold at an average price of $45.62, for a total value of $109,259.90. Following the transaction, the executive vice president now owns 19,003 shares in the company, valued at approximately $866,916.86. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Julie Richardson acquired 5,000 shares of the company’s stock in a transaction dated Tuesday, December 11th. The stock was acquired at an average price of $41.44 per share, for a total transaction of $207,200.00. Following the acquisition, the director now owns 17,213 shares in the company, valued at approximately $713,306.72. The disclosure for this purchase can be found here. Corporate insiders own 1.50% of the company’s stock.

HIG has been the topic of a number of analyst reports. Zacks Investment Research lowered Hartford Financial Services Group from a “buy” rating to a “hold” rating in a research report on Wednesday, September 5th. Buckingham Research set a $58.00 price target on Hartford Financial Services Group and gave the company a “buy” rating in a research report on Monday, October 29th. Credit Suisse Group set a $56.00 price target on Hartford Financial Services Group and gave the company a “hold” rating in a research report on Wednesday, November 14th. Janney Montgomery Scott raised Hartford Financial Services Group from a “neutral” rating to a “buy” rating in a research report on Tuesday, December 4th. Finally, Wells Fargo & Co set a $53.00 price target on Hartford Financial Services Group and gave the company a “hold” rating in a research report on Thursday, November 15th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and eight have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $56.83.

HIG opened at $41.27 on Friday. Hartford Financial Services Group Inc has a one year low of $40.59 and a one year high of $59.20. The stock has a market capitalization of $14.80 billion, a PE ratio of 15.06, a price-to-earnings-growth ratio of 0.98 and a beta of 0.92. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 0.33.

Hartford Financial Services Group (NYSE:HIG) last released its quarterly earnings data on Thursday, October 25th. The insurance provider reported $1.15 EPS for the quarter, beating analysts’ consensus estimates of $1.04 by $0.11. Hartford Financial Services Group had a positive return on equity of 12.20% and a negative net margin of 11.09%. The business had revenue of $4.80 billion for the quarter. On average, research analysts expect that Hartford Financial Services Group Inc will post 4.44 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 2nd. Stockholders of record on Monday, December 3rd will be issued a $0.30 dividend. The ex-dividend date is Friday, November 30th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.91%. Hartford Financial Services Group’s payout ratio is currently 43.80%.

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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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