UBS Asset Management Americas Inc. Has $116.67 Million Holdings in The Hartford Financial Services Group, Inc. (NYSE:HIG)

UBS Asset Management Americas Inc. reduced its position in The Hartford Financial Services Group, Inc. (NYSE:HIG) by 2.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,381,908 shares of the insurance provider’s stock after selling 61,791 shares during the quarter. UBS Asset Management Americas Inc.’s holdings in The Hartford Financial Services Group were worth $116,666,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of HIG. Healthcare of Ontario Pension Plan Trust Fund increased its holdings in The Hartford Financial Services Group by 795.6% in the 4th quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 898,171 shares of the insurance provider’s stock valued at $43,992,000 after buying an additional 797,880 shares during the period. Dimensional Fund Advisors LP increased its stake in The Hartford Financial Services Group by 1.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 5,688,711 shares of the insurance provider’s stock valued at $278,591,000 after acquiring an additional 55,652 shares during the period. Achmea Investment Management B.V. raised its position in The Hartford Financial Services Group by 170.9% in the fourth quarter. Achmea Investment Management B.V. now owns 55,940 shares of the insurance provider’s stock worth $2,740,000 after purchasing an additional 35,290 shares in the last quarter. Rehmann Capital Advisory Group lifted its stake in The Hartford Financial Services Group by 2.0% during the fourth quarter. Rehmann Capital Advisory Group now owns 22,582 shares of the insurance provider’s stock worth $1,106,000 after purchasing an additional 440 shares during the period. Finally, National Pension Service boosted its holdings in The Hartford Financial Services Group by 4.7% during the fourth quarter. National Pension Service now owns 610,136 shares of the insurance provider’s stock valued at $29,884,000 after purchasing an additional 27,298 shares in the last quarter. 90.48% of the stock is owned by hedge funds and other institutional investors.

NYSE:HIG opened at $68.15 on Thursday. The company has a quick ratio of 0.30, a current ratio of 0.30 and a debt-to-equity ratio of 0.25. The Hartford Financial Services Group, Inc. has a 12-month low of $30.26 and a 12-month high of $69.60. The stock’s fifty day simple moving average is $58.76 and its 200-day simple moving average is $48.31. The firm has a market capitalization of $24.35 billion, a P/E ratio of 14.26, a P/E/G ratio of 1.37 and a beta of 1.05.

The Hartford Financial Services Group (NYSE:HIG) last posted its earnings results on Thursday, February 4th. The insurance provider reported $1.76 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.33 by $0.43. The Hartford Financial Services Group had a return on equity of 12.19% and a net margin of 8.50%. The firm had revenue of $3.44 billion for the quarter, compared to analyst estimates of $3.37 billion. During the same period in the previous year, the company posted $1.43 earnings per share. As a group, equities research analysts expect that The Hartford Financial Services Group, Inc. will post 5.31 earnings per share for the current year.

The Hartford Financial Services Group declared that its board has approved a stock buyback plan on Thursday, December 17th that allows the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization allows the insurance provider to repurchase up to 8.8% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board believes its stock is undervalued.

The company also recently declared a quarterly dividend, which was paid on Friday, April 2nd. Stockholders of record on Monday, March 1st were issued a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.05%. This is a positive change from The Hartford Financial Services Group’s previous quarterly dividend of $0.33. The ex-dividend date of this dividend was Friday, February 26th. The Hartford Financial Services Group’s payout ratio is 24.78%.

In other news, EVP William A. Bloom sold 33,019 shares of The Hartford Financial Services Group stock in a transaction that occurred on Monday, March 29th. The shares were sold at an average price of $65.22, for a total value of $2,153,499.18. Following the sale, the executive vice president now directly owns 70,372 shares in the company, valued at $4,589,661.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Jonathan R. Bennett sold 1,865 shares of the stock in a transaction on Wednesday, March 31st. The stock was sold at an average price of $68.00, for a total transaction of $126,820.00. Following the transaction, the executive vice president now owns 25,641 shares of the company’s stock, valued at approximately $1,743,588. The disclosure for this sale can be found here. Insiders have sold 183,332 shares of company stock valued at $12,064,527 over the last ninety days. 1.70% of the stock is owned by insiders.

Several equities analysts recently commented on the company. Morgan Stanley raised their target price on The Hartford Financial Services Group from $53.00 to $67.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 12th. MKM Partners restated a “neutral” rating and issued a $70.00 target price (up previously from $65.00) on shares of The Hartford Financial Services Group in a research note on Thursday, March 25th. Raymond James increased their target price on shares of The Hartford Financial Services Group from $60.00 to $75.00 and gave the stock an “outperform” rating in a research report on Monday. Wells Fargo & Company restated a “buy” rating on shares of The Hartford Financial Services Group in a research report on Monday. Finally, Zacks Investment Research lowered shares of The Hartford Financial Services Group from a “buy” rating to a “hold” rating and set a $51.00 price objective for the company. in a report on Monday, December 28th. Three equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $65.69.

About The Hartford Financial Services Group

The Hartford Financial Services Group, Inc provides insurance and financial services to individual and business customers in the United States and internationally. Its Commercial Lines segment offers workers' compensation, property, automobile, liability, umbrella, bond, marine, livestock, and reinsurance products; and customized insurance products and risk management services, including professional liability, bond, surety, and specialty casualty coverages through regional offices, branches, sales and policyholder service centers, independent retail agents and brokers, wholesale agents, and reinsurance brokers.

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

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