Hartford Financial Services Group Inc (HIG) Shares Sold by LSV Asset Management

LSV Asset Management decreased its holdings in Hartford Financial Services Group Inc (NYSE:HIG) by 1.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,450,222 shares of the insurance provider’s stock after selling 99,400 shares during the quarter. LSV Asset Management’s holdings in Hartford Financial Services Group were worth $242,262,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also made changes to their positions in HIG. Franklin Resources Inc. lifted its stake in Hartford Financial Services Group by 24.7% in the third quarter. Franklin Resources Inc. now owns 16,176,288 shares of the insurance provider’s stock worth $808,166,000 after acquiring an additional 3,207,962 shares during the period. Marathon Asset Management LLP lifted its stake in Hartford Financial Services Group by 85.4% in the fourth quarter. Marathon Asset Management LLP now owns 2,175,860 shares of the insurance provider’s stock worth $97,122,000 after acquiring an additional 1,002,225 shares during the period. Diamond Hill Capital Management Inc. lifted its stake in Hartford Financial Services Group by 29.8% in the third quarter. Diamond Hill Capital Management Inc. now owns 3,856,174 shares of the insurance provider’s stock worth $192,654,000 after acquiring an additional 885,619 shares during the period. Renaissance Technologies LLC lifted its stake in Hartford Financial Services Group by 102.6% in the third quarter. Renaissance Technologies LLC now owns 1,012,400 shares of the insurance provider’s stock worth $50,580,000 after acquiring an additional 512,600 shares during the period. Finally, Vanguard Group Inc lifted its position in Hartford Financial Services Group by 1.2% during the third quarter. Vanguard Group Inc now owns 37,098,691 shares of the insurance provider’s stock valued at $1,853,451,000 after buying an additional 455,263 shares during the period. 90.52% of the stock is owned by institutional investors.

HIG opened at $47.67 on Monday. The company has a quick ratio of 0.29, a current ratio of 0.32 and a debt-to-equity ratio of 0.37. The stock has a market capitalization of $17.18 billion, a PE ratio of 11.01, a P/E/G ratio of 1.02 and a beta of 0.72. Hartford Financial Services Group Inc has a 1 year low of $40.54 and a 1 year high of $56.13.

Hartford Financial Services Group (NYSE:HIG) last posted its quarterly earnings results on Monday, February 4th. The insurance provider reported $0.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.65 by $0.13. The firm had revenue of $4.63 billion during the quarter, compared to analyst estimates of $4.73 billion. Hartford Financial Services Group had a return on equity of 12.31% and a net margin of 9.53%. Hartford Financial Services Group’s quarterly revenue was up 1.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.81 EPS. Sell-side analysts forecast that Hartford Financial Services Group Inc will post 4.96 earnings per share for the current fiscal year.

Hartford Financial Services Group declared that its board has initiated a stock repurchase program on Monday, February 4th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the insurance provider to buy up to 5.9% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s board of directors believes its shares are undervalued.

Several equities analysts have commented on HIG shares. Buckingham Research set a $58.00 price objective on Hartford Financial Services Group and gave the company a “buy” rating in a research report on Monday, October 29th. TheStreet lowered Hartford Financial Services Group from a “b-” rating to a “c+” rating in a research report on Thursday, January 3rd. Credit Suisse Group set a $56.00 price objective 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 objective on Hartford Financial Services Group and gave the company a “hold” rating in a research report on Thursday, November 15th. Six investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $56.92.

In related news, CEO Christopher Swift purchased 11,423 shares of the stock in a transaction dated Thursday, January 10th. The stock was purchased at an average price of $43.73 per share, with a total value of $499,527.79. Following the transaction, the chief executive officer now directly owns 135,389 shares in the company, valued at $5,920,560.97. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP David C. Robinson sold 2,392 shares of Hartford Financial Services Group stock in a transaction dated Thursday, January 31st. The stock was sold at an average price of $46.35, for a total value of $110,869.20. The disclosure for this sale can be found here. 1.50% of the stock is owned by insiders.

COPYRIGHT VIOLATION WARNING: This report was originally published by WKRB News and is the property of of WKRB News. If you are viewing this report on another site, it was copied illegally and reposted in violation of United States and international trademark & copyright law. The original version of this report can be viewed at https://www.wkrb13.com/2019/02/11/hartford-financial-services-group-inc-hig-shares-sold-by-lsv-asset-management.html.

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.

Further Reading: Price-Sales Ratio

Want to see what other hedge funds are holding HIG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Hartford Financial Services Group Inc (NYSE:HIG).

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

Receive News & Ratings for Hartford Financial Services Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Hartford Financial Services Group and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply