Regent Investment Management LLC Increases Stake in Hartford Financial Services Group Inc (NYSE:HIG)

Regent Investment Management LLC grew its position in shares of Hartford Financial Services Group Inc (NYSE:HIG) by 4.0% in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 7,800 shares of the insurance provider’s stock after buying an additional 300 shares during the quarter. Regent Investment Management LLC’s holdings in Hartford Financial Services Group were worth $301,000 as of its most recent filing with the SEC.

Other institutional investors have also recently made changes to their positions in the company. CX Institutional raised its position in Hartford Financial Services Group by 34,500.9% during the 1st quarter. CX Institutional now owns 37,023 shares of the insurance provider’s stock worth $1,305,000 after buying an additional 36,916 shares during the last quarter. First Citizens Bank & Trust Co. increased its holdings in shares of Hartford Financial Services Group by 12.0% in the 2nd quarter. First Citizens Bank & Trust Co. now owns 27,181 shares of the insurance provider’s stock valued at $1,047,000 after purchasing an additional 2,923 shares in the last quarter. Patriot Financial Group Insurance Agency LLC increased its holdings in shares of Hartford Financial Services Group by 15.3% in the 1st quarter. Patriot Financial Group Insurance Agency LLC now owns 2,114 shares of the insurance provider’s stock valued at $75,000 after purchasing an additional 280 shares in the last quarter. Principal Financial Group Inc. increased its holdings in shares of Hartford Financial Services Group by 2.4% in the 1st quarter. Principal Financial Group Inc. now owns 558,274 shares of the insurance provider’s stock valued at $19,673,000 after purchasing an additional 12,857 shares in the last quarter. Finally, Alliancebernstein L.P. increased its holdings in shares of Hartford Financial Services Group by 1.5% in the 1st quarter. Alliancebernstein L.P. now owns 586,203 shares of the insurance provider’s stock valued at $20,658,000 after purchasing an additional 8,520 shares in the last quarter. Institutional investors own 89.80% of the company’s stock.

A number of brokerages have recently issued reports on HIG. Credit Suisse Group reiterated a “hold” rating and issued a $44.00 price target on shares of Hartford Financial Services Group in a report on Friday. MKM Partners cut their price target on shares of Hartford Financial Services Group from $70.00 to $50.00 and set a “buy” rating for the company in a report on Thursday, April 30th. Bank of America began coverage on shares of Hartford Financial Services Group in a report on Monday, June 1st. They issued a “buy” rating for the company. Deutsche Bank cut their price target on shares of Hartford Financial Services Group from $63.00 to $53.00 and set a “buy” rating for the company in a report on Tuesday, May 5th. Finally, Royal Bank of Canada lowered their price objective on shares of Hartford Financial Services Group from $66.00 to $39.00 and set a “sector perform” rating on the stock in a research note on Wednesday, April 8th. One analyst has rated the stock with a sell rating, four have given a hold rating and twelve have issued a buy rating to the stock. Hartford Financial Services Group presently has a consensus rating of “Buy” and an average price target of $54.57.

Hartford Financial Services Group stock opened at $42.32 on Friday. Hartford Financial Services Group Inc has a 12-month low of $19.04 and a 12-month high of $62.75. The stock has a market capitalization of $15.15 billion, a P/E ratio of 8.55, a P/E/G ratio of 1.19 and a beta of 0.97. The firm’s 50-day moving average is $39.49 and its two-hundred day moving average is $43.84. The company has a debt-to-equity ratio of 0.29, a current ratio of 0.29 and a quick ratio of 0.29.

Hartford Financial Services Group (NYSE:HIG) last released its quarterly earnings results on Thursday, July 30th. The insurance provider reported $1.22 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $1.22. Hartford Financial Services Group had a net margin of 8.80% and a return on equity of 12.86%. The company had revenue of $3.20 billion for the quarter, compared to analysts’ expectations of $3.15 billion. As a group, analysts forecast that Hartford Financial Services Group Inc will post 4.86 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Friday, October 2nd. Shareholders of record on Tuesday, September 1st will be paid a dividend of $0.325 per share. The ex-dividend date is Monday, August 31st. This represents a $1.30 annualized dividend and a dividend yield of 3.07%. Hartford Financial Services Group’s dividend payout ratio is currently 23.01%.

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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