Moneta Group Investment Advisors LLC Reduces Stake in Hartford Financial Services Group Inc (NYSE:HIG)

Moneta Group Investment Advisors LLC reduced its stake in shares of Hartford Financial Services Group Inc (NYSE:HIG) by 45.6% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 9,065 shares of the insurance provider’s stock after selling 7,588 shares during the quarter. Moneta Group Investment Advisors LLC’s holdings in Hartford Financial Services Group were worth $876,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of HIG. Bank of New York Mellon Corp grew its position in Hartford Financial Services Group by 15.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 5,644,890 shares of the insurance provider’s stock valued at $314,533,000 after acquiring an additional 758,207 shares during the last quarter. LSV Asset Management increased its stake in Hartford Financial Services Group by 2.6% in the second quarter. LSV Asset Management now owns 5,524,159 shares of the insurance provider’s stock worth $307,806,000 after purchasing an additional 137,637 shares during the period. Geode Capital Management LLC lifted its position in shares of Hartford Financial Services Group by 8.3% during the fourth quarter. Geode Capital Management LLC now owns 4,622,774 shares of the insurance provider’s stock worth $205,120,000 after purchasing an additional 353,601 shares during the last quarter. Northern Trust Corp lifted its position in shares of Hartford Financial Services Group by 6.6% during the second quarter. Northern Trust Corp now owns 4,380,692 shares of the insurance provider’s stock worth $244,093,000 after purchasing an additional 270,903 shares during the last quarter. Finally, AJO LP boosted its stake in shares of Hartford Financial Services Group by 20.2% during the first quarter. AJO LP now owns 4,000,770 shares of the insurance provider’s stock valued at $198,918,000 after purchasing an additional 672,129 shares during the period. Institutional investors and hedge funds own 91.60% of the company’s stock.

Hartford Financial Services Group stock traded down $0.64 during midday trading on Wednesday, reaching $58.66. The company’s stock had a trading volume of 49,143 shares, compared to its average volume of 1,601,164. 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 stock has a market capitalization of $21.42 billion, a P/E ratio of 13.55, a PEG ratio of 1.21 and a beta of 0.64. The stock’s 50-day simple moving average is $58.39 and its 200-day simple moving average is $53.95. Hartford Financial Services Group Inc has a 52-week low of $40.54 and a 52-week high of $60.77.

Hartford Financial Services Group (NYSE:HIG) last posted its quarterly earnings data on Thursday, August 1st. The insurance provider reported $1.33 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.11 by $0.22. The firm had revenue of $5.09 billion for the quarter, compared to the consensus estimate 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 for the quarter was up 6.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.13 earnings per share. As a group, equities research analysts expect that Hartford Financial Services Group Inc will post 5.24 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Tuesday, September 3rd will be paid a dividend of $0.30 per share. The ex-dividend date of this dividend is Friday, August 30th. This represents a $1.20 dividend on an annualized basis and a yield of 2.05%. Hartford Financial Services Group’s payout ratio is 27.71%.

Several research firms recently commented on HIG. ValuEngine downgraded shares of Hartford Financial Services Group from a “hold” rating to a “sell” rating in a research note on Tuesday. 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. Buckingham Research upped their target price on shares of Hartford Financial Services Group from $60.00 to $63.00 and gave the stock a “buy” rating in a research note on Friday, July 19th. Goldman Sachs Group raised shares of Hartford Financial Services Group from a “neutral” rating to a “buy” rating and raised their target price for the stock from $53.00 to $64.00 in a research report on Wednesday, May 29th. Finally, Barclays set a $70.00 price objective on Hartford Financial Services Group and gave the stock a “buy” rating in a report on Monday, August 12th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and ten have issued a buy rating to the stock. Hartford Financial Services Group currently has an average rating of “Buy” and a consensus price target of $62.08.

In related news, insider William A. Bloom sold 7,927 shares of the company’s stock in a transaction on Tuesday, June 18th. The stock was sold at an average price of $54.48, for a total value of $431,862.96. Following the transaction, the insider now directly owns 23,440 shares of the company’s stock, valued at approximately $1,277,011.20. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP David C. Robinson sold 6,978 shares of the firm’s stock in a transaction on Friday, September 6th. The stock was 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 owns 22,040 shares of the company’s stock, valued at approximately $1,323,281.60. The disclosure for this sale can be found here. In the last ninety days, insiders sold 108,109 shares of company stock valued at $6,084,135. Corporate insiders own 1.70% of the company’s stock.

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.

Recommended Story: Dogs of the Dow

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.