Hartford Financial Services Group Inc (NYSE:HIG) Shares Sold by Foundry Partners LLC

Foundry Partners LLC lowered its holdings in shares of Hartford Financial Services Group Inc (NYSE:HIG) by 6.3% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 226,787 shares of the insurance provider’s stock after selling 15,169 shares during the period. Foundry Partners LLC owned 0.06% of Hartford Financial Services Group worth $13,746,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Vanguard Group Inc. lifted its stake in shares of Hartford Financial Services Group by 1.2% in the 2nd quarter. Vanguard Group Inc. now owns 39,015,898 shares of the insurance provider’s stock worth $2,173,965,000 after acquiring an additional 471,784 shares during the period. BlackRock Inc. lifted its stake in shares of Hartford Financial Services Group by 8.1% in the 2nd quarter. BlackRock Inc. now owns 30,044,477 shares of the insurance provider’s stock worth $1,674,077,000 after acquiring an additional 2,257,147 shares during the period. Invesco Ltd. lifted its stake in shares of Hartford Financial Services Group by 2.9% in the 2nd quarter. Invesco Ltd. now owns 15,939,178 shares of the insurance provider’s stock worth $888,131,000 after acquiring an additional 455,406 shares during the period. Bank of New York Mellon Corp lifted its stake in shares of 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 worth $314,533,000 after acquiring an additional 758,207 shares during the period. Finally, LSV Asset Management lifted its stake in shares of Hartford Financial Services Group by 2.6% in the 2nd quarter. LSV Asset Management now owns 5,524,159 shares of the insurance provider’s stock worth $307,806,000 after acquiring an additional 137,637 shares during the period. Hedge funds and other institutional investors own 91.46% of the company’s stock.

NYSE:HIG traded down $0.17 during mid-day trading on Thursday, hitting $57.70. 246,050 shares of the company’s stock traded hands, compared to its average volume of 1,796,354. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.28 and a current ratio of 0.28. The firm’s 50 day simple moving average is $59.55 and its 200 day simple moving average is $56.16. Hartford Financial Services Group Inc has a 1 year low of $40.54 and a 1 year high of $61.23. The company has a market cap of $20.79 billion, a PE ratio of 13.33, a price-to-earnings-growth ratio of 1.13 and a beta of 0.64.

Hartford Financial Services Group (NYSE:HIG) last posted its earnings results on Thursday, August 1st. The insurance provider reported $1.33 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.11 by $0.22. Hartford Financial Services Group had a net margin of 8.36% and a return on equity of 12.44%. The firm had revenue of $5.09 billion during the quarter, compared to the consensus estimate of $5.07 billion. During the same period last year, the firm posted $1.13 EPS. The firm’s revenue for the quarter was up 6.3% on a year-over-year basis. On average, research analysts expect that Hartford Financial Services Group Inc will post 5.34 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Monday, December 2nd will be paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 2.08%. Hartford Financial Services Group’s dividend payout ratio is currently 27.71%.

In other Hartford Financial Services Group news, EVP William A. Bloom sold 7,926 shares of the firm’s stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of $60.71, for a total transaction of $481,187.46. Following the sale, the executive vice president now directly owns 26,211 shares of the company’s stock, valued at approximately $1,591,269.81. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Beth Ann Costello sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $57.19, for a total transaction of $285,950.00. Following the completion of the sale, the chief financial officer now directly owns 51,245 shares in the company, valued at $2,930,701.55. The disclosure for this sale can be found here. Insiders have sold a total of 70,481 shares of company stock worth $4,200,698 over the last ninety days. 1.70% of the stock is owned by corporate insiders.

Several analysts have recently commented on HIG shares. UBS Group raised 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 research note on Wednesday, July 10th. Royal Bank of Canada increased their price target on shares of Hartford Financial Services Group to $68.00 and gave the company an “outperform” rating in a report on Monday, August 5th. ValuEngine downgraded shares of Hartford Financial Services Group from a “hold” rating to a “sell” rating in a report on Tuesday, September 10th. Barclays set a $70.00 price target on shares of Hartford Financial Services Group and gave the company a “buy” rating in a report on Monday, August 12th. Finally, Buckingham Research increased their price target 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. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and ten have issued a buy rating to the company’s stock. Hartford Financial Services Group presently has a consensus rating of “Buy” and a consensus price target of $62.36.

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.

Further Reading: Equal Weight Rating

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

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