Amundi Asset Management US Inc. Reduces Stock Position in The Hartford Financial Services Group, Inc. (NYSE:HIG)

Amundi Asset Management US Inc. cut its stake in The Hartford Financial Services Group, Inc. (NYSE:HIG) by 66.5% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,217,965 shares of the insurance provider’s stock after selling 4,403,801 shares during the period. Amundi Asset Management US Inc. owned approximately 0.62% of The Hartford Financial Services Group worth $148,137,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently bought and sold shares of the company. BlackRock Inc. grew its position in shares of The Hartford Financial Services Group by 3.8% in the first quarter. BlackRock Inc. now owns 25,624,206 shares of the insurance provider’s stock valued at $1,711,440,000 after purchasing an additional 946,916 shares in the last quarter. Price T Rowe Associates Inc. MD grew its position in shares of The Hartford Financial Services Group by 196.0% in the first quarter. Price T Rowe Associates Inc. MD now owns 14,262,951 shares of the insurance provider’s stock valued at $952,622,000 after purchasing an additional 9,444,232 shares in the last quarter. Viking Global Investors LP purchased a new stake in shares of The Hartford Financial Services Group in the fourth quarter valued at approximately $395,322,000. Amundi Pioneer Asset Management Inc. grew its position in shares of The Hartford Financial Services Group by 82.9% in the fourth quarter. Amundi Pioneer Asset Management Inc. now owns 6,621,766 shares of the insurance provider’s stock valued at $324,333,000 after purchasing an additional 3,001,415 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its position 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 worth $278,591,000 after acquiring an additional 55,652 shares during the period. Institutional investors and hedge funds own 90.87% of the company’s stock.

Several brokerages recently weighed in on HIG. Bank of America began coverage on The Hartford Financial Services Group in a research report on Monday, May 3rd. They issued a “neutral” rating for the company. Deutsche Bank Aktiengesellschaft increased their price objective on The Hartford Financial Services Group from $60.00 to $73.00 and gave the stock a “buy” rating in a research report on Monday, July 12th. Wells Fargo & Company reiterated a “buy” rating on shares of The Hartford Financial Services Group in a research report on Friday, April 30th. JPMorgan Chase & Co. increased their price objective on The Hartford Financial Services Group from $55.00 to $75.00 and gave the stock an “overweight” rating in a research report on Monday, April 12th. They noted that the move was a valuation call. Finally, MKM Partners reiterated a “neutral” rating and issued a $70.00 price objective (up from $65.00) on shares of The Hartford Financial Services Group in a research report on Thursday, March 25th. Four investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $69.31.

Shares of NYSE HIG opened at $62.61 on Thursday. The firm has a market capitalization of $22.36 billion, a PE ratio of 13.35, a P/E/G ratio of 1.88 and a beta of 1.08. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.30 and a current ratio of 0.30. The Hartford Financial Services Group, Inc. has a 12-month low of $34.69 and a 12-month high of $69.94. The company has a fifty day moving average of $63.78.

The Hartford Financial Services Group (NYSE:HIG) last posted its quarterly earnings results on Thursday, April 22nd. The insurance provider reported $0.56 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.75 by ($0.19). The Hartford Financial Services Group had a net margin of 8.21% and a return on equity of 10.43%. The business had revenue of $5.30 billion during the quarter, compared to analyst estimates of $5.18 billion. During the same quarter in the prior year, the business earned $1.34 earnings per share. The firm’s quarterly revenue was up 6.9% on a year-over-year basis. As a group, sell-side analysts expect that The Hartford Financial Services Group, Inc. will post 4.74 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, October 4th. Shareholders of record on Wednesday, September 1st will be paid a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 2.24%. The Hartford Financial Services Group’s dividend payout ratio is presently 24.22%.

The Hartford Financial Services Group Company Profile

The Hartford Financial Services Group, Inc provides insurance and financial services to individual and business customers in the United States, the United Kingdom, continental Europe, and internationally. Its Commercial Lines segment offers workers' compensation, property, automobile, liability, umbrella, bond, marine, livestock, and reinsurance; 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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