Hartford Financial Services Group Inc (NYSE:HIG) Shares Purchased by Oppenheimer & Co. Inc.

Oppenheimer & Co. Inc. raised its position in Hartford Financial Services Group Inc (NYSE:HIG) by 30.1% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 7,796 shares of the insurance provider’s stock after purchasing an additional 1,805 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in Hartford Financial Services Group were worth $434,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in HIG. NuWave Investment Management LLC grew its stake in shares of 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 buying an additional 456 shares in the last quarter. Rational Advisors LLC boosted its holdings in Hartford Financial Services Group by 950.0% during the 2nd quarter. Rational Advisors 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 acquired a new position in Hartford Financial Services Group in the 1st quarter valued at about $33,000. Icon Wealth Partners LLC acquired a new position in Hartford Financial Services Group in the 1st quarter valued at about $33,000. Finally, Westside Investment Management Inc. acquired a new position in Hartford Financial Services Group in the 2nd quarter valued at about $65,000. 91.60% of the stock is currently owned by institutional investors.

Several analysts have recently issued reports on HIG shares. Goldman Sachs Group raised shares of Hartford Financial Services Group from a “neutral” rating to a “buy” rating and increased their price target for the stock from $53.00 to $64.00 in a research report on Wednesday, May 29th. Buckingham Research lifted their price objective on shares of Hartford Financial Services Group from $60.00 to $63.00 and gave the company a “buy” rating in a report on Friday, July 19th. B. Riley upped their target price on shares of Hartford Financial Services Group from $66.00 to $69.00 and gave the stock a “buy” rating in a research note on Wednesday, June 26th. UBS Group increased their target price on shares of Hartford Financial Services Group from $61.00 to $65.00 and gave the stock a “buy” rating in a report on Wednesday, July 10th. Finally, 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. One investment analyst has rated the stock with a sell rating, four have given a hold rating and ten have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $62.08.

In related news, insider William A. Bloom sold 7,927 shares of the business’s stock in a transaction that occurred on Tuesday, June 18th. The stock was sold at an average price of $54.48, for a total transaction of $431,862.96. Following the completion of the sale, the insider now owns 23,440 shares in the company, valued at $1,277,011.20. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP David C. Robinson sold 6,978 shares of the company’s stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $60.04, for a total value of $418,959.12. Following the completion of the transaction, the executive vice president now directly owns 22,040 shares of the company’s stock, valued at $1,323,281.60. The disclosure for this sale can be found here. Insiders sold 108,109 shares of company stock worth $6,084,135 in the last three months. 1.70% of the stock is currently owned by corporate insiders.

NYSE HIG traded down $0.51 on Wednesday, hitting $58.79. 15,364 shares of the stock were exchanged, compared to its average volume of 1,601,164. The company has a quick ratio of 0.28, a current ratio of 0.28 and a debt-to-equity ratio of 0.27. Hartford Financial Services Group Inc has a fifty-two week low of $40.54 and a fifty-two week high of $60.77. The company has a market cap of $21.42 billion, a PE ratio of 13.60, a PEG ratio of 1.21 and a beta of 0.64. The company has a 50-day moving average price of $58.39 and a 200-day moving average price of $53.95.

Hartford Financial Services Group (NYSE:HIG) last announced its quarterly earnings data on Thursday, August 1st. The insurance provider reported $1.33 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.11 by $0.22. The business had revenue of $5.09 billion for the quarter, compared to analyst estimates 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 revenue was up 6.3% on a year-over-year basis. During the same period last year, the business earned $1.13 EPS. As a group, equities research analysts predict that Hartford Financial Services Group Inc will post 5.24 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Tuesday, September 3rd will be issued a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 2.04%. The ex-dividend date is Friday, August 30th. Hartford Financial Services Group’s dividend payout ratio (DPR) is presently 27.71%.

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. 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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