Hartford Financial Services Group Inc (NYSE:HIG) Shares Acquired by Synovus Financial Corp

Synovus Financial Corp grew its stake in Hartford Financial Services Group Inc (NYSE:HIG) by 10.9% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,102 shares of the insurance provider’s stock after purchasing an additional 500 shares during the quarter. Synovus Financial Corp’s holdings in Hartford Financial Services Group were worth $309,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Venturi Wealth Management LLC acquired a new stake in shares of Hartford Financial Services Group in the third quarter valued at about $28,000. Virtus ETF Advisers LLC acquired a new stake in shares of Hartford Financial Services Group in the second quarter valued at about $26,000. NuWave Investment Management LLC boosted its position in Hartford Financial Services Group by 950.0% during the second quarter. NuWave Investment Management LLC now owns 504 shares of the insurance provider’s stock worth $28,000 after acquiring an additional 456 shares during the last quarter. Rational Advisors LLC boosted its position in Hartford Financial Services Group by 950.0% during the second quarter. Rational Advisors LLC now owns 504 shares of the insurance provider’s stock worth $28,000 after acquiring an additional 456 shares during the last quarter. Finally, KCS Wealth Advisory acquired a new position in Hartford Financial Services Group during the third quarter worth about $32,000. Institutional investors and hedge funds own 91.62% of the company’s stock.

HIG has been the topic of a number of recent research reports. ValuEngine upgraded shares of Hartford Financial Services Group from a “strong sell” rating to a “sell” rating in a research report on Tuesday, November 5th. Buckingham Research boosted their price target on shares of Hartford Financial Services Group from $60.00 to $63.00 and gave the stock a “buy” rating in a research report on Friday, July 19th. Barclays set a $70.00 price target on shares of Hartford Financial Services Group and gave the stock a “buy” rating in a research report on Monday, August 12th. Morgan Stanley boosted their price target on shares of Hartford Financial Services Group from $61.00 to $63.00 and gave the stock an “equal weight” rating in a research report on Friday. Finally, Evercore ISI upgraded shares of Hartford Financial Services Group from an “in-line” rating to an “outperform” rating in a research report on Wednesday, October 16th. One analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have issued a buy rating to the company. Hartford Financial Services Group currently has an average rating of “Buy” and a consensus price target of $63.92.

In other Hartford Financial Services Group news, EVP David C. Robinson sold 4,856 shares of Hartford Financial Services Group stock in a transaction dated Thursday, October 31st. The shares were sold at an average price of $56.86, for a total transaction of $276,112.16. Following the transaction, the executive vice president now directly owns 17,184 shares of the company’s stock, valued at $977,082.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Brion S. Johnson sold 3,299 shares of Hartford Financial Services Group stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $60.79, for a total transaction of $200,546.21. Following the transaction, the executive vice president now directly owns 23,649 shares in the company, valued at $1,437,622.71. The disclosure for this sale can be found here. Insiders have sold 62,337 shares of company stock worth $3,720,785 over the last ninety days. 1.70% of the stock is owned by insiders.

HIG stock traded up $0.26 during trading on Monday, reaching $61.35. 1,681,217 shares of the stock were exchanged, compared to its average volume of 2,032,245. The company has a current ratio of 0.29, a quick ratio of 0.28 and a debt-to-equity ratio of 0.28. The business has a 50 day moving average price of $58.92 and a 200-day moving average price of $56.76. Hartford Financial Services Group Inc has a 1 year low of $40.54 and a 1 year high of $61.74. The firm has a market capitalization of $21.84 billion, a price-to-earnings ratio of 14.17, a P/E/G ratio of 1.18 and a beta of 0.62.

Hartford Financial Services Group (NYSE:HIG) last issued its earnings results on Monday, November 4th. The insurance provider reported $1.50 EPS for the quarter, topping analysts’ consensus estimates of $1.24 by $0.26. Hartford Financial Services Group had a net margin of 8.66% and a return on equity of 12.69%. The company had revenue of $5.35 billion for the quarter, compared to the consensus estimate of $5.22 billion. During the same period in the previous year, the firm earned $1.15 earnings per share. Hartford Financial Services Group’s quarterly revenue was up 10.4% compared to the same quarter last year. On average, research analysts anticipate that Hartford Financial Services Group Inc will post 5.47 EPS for the current year.

The company also recently announced 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 dividend on an annualized basis and a yield of 1.96%. The ex-dividend date is Friday, November 29th. Hartford Financial Services Group’s dividend payout ratio (DPR) is presently 27.71%.

Hartford Financial Services Group Profile

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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