HighTower Advisors LLC Has $1.51 Million Position in The Hartford Financial Services Group, Inc. (NYSE:HIG)

HighTower Advisors LLC reduced its holdings in The Hartford Financial Services Group, Inc. (NYSE:HIG) by 10.8% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 24,424 shares of the insurance provider’s stock after selling 2,955 shares during the period. HighTower Advisors LLC’s holdings in The Hartford Financial Services Group were worth $1,511,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Boussard & Gavaudan Investment Management LLP acquired a new stake in The Hartford Financial Services Group in the first quarter worth $12,372,000. Millennium Management LLC raised its holdings in The Hartford Financial Services Group by 39.8% in the first quarter. Millennium Management LLC now owns 1,200,023 shares of the insurance provider’s stock worth $80,150,000 after purchasing an additional 341,876 shares during the period. Brookfield Asset Management Inc. raised its holdings in The Hartford Financial Services Group by 7.4% in the first quarter. Brookfield Asset Management Inc. now owns 114,528 shares of the insurance provider’s stock worth $7,649,000 after purchasing an additional 7,867 shares during the period. Bronson Point Management LLC acquired a new stake in The Hartford Financial Services Group in the first quarter worth $1,670,000. Finally, Nuance Investments LLC acquired a new stake in The Hartford Financial Services Group in the first quarter worth $58,883,000. Institutional investors and hedge funds own 91.07% of the company’s stock.

In other news, EVP Jonathan R. Bennett sold 22,406 shares of the firm’s stock in a transaction dated Wednesday, September 1st. The shares were sold at an average price of $70.00, for a total transaction of $1,568,420.00. Following the completion of the sale, the executive vice president now owns 48,047 shares in the company, valued at approximately $3,363,290. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP David C. Robinson sold 5,469 shares of The Hartford Financial Services Group stock in a transaction dated Wednesday, August 4th. The stock was sold at an average price of $65.00, for a total transaction of $355,485.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 52,875 shares of company stock valued at $3,524,395. Corporate insiders own 1.55% of the company’s stock.

Shares of HIG stock opened at $70.55 on Friday. The stock has a market cap of $24.49 billion, a P/E ratio of 11.94, a P/E/G ratio of 1.68 and a beta of 1.11. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.31 and a quick ratio of 0.31. The company has a fifty day moving average price of $65.88 and a two-hundred day moving average price of $64.64. The Hartford Financial Services Group, Inc. has a one year low of $34.69 and a one year high of $70.88.

The Hartford Financial Services Group (NYSE:HIG) last announced its quarterly earnings results on Wednesday, July 28th. The insurance provider reported $2.33 EPS for the quarter, beating analysts’ consensus estimates of $1.34 by $0.99. The firm had revenue of $3.57 billion during the quarter, compared to analysts’ expectations of $3.40 billion. The Hartford Financial Services Group had a net margin of 10.05% and a return on equity of 12.47%. As a group, equities research analysts anticipate that The Hartford Financial Services Group, Inc. will post 5.87 EPS for the current fiscal year.

The company 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 1.98%. The ex-dividend date is Tuesday, August 31st. The Hartford Financial Services Group’s dividend payout ratio is currently 24.22%.

Several equities research analysts have recently issued reports on HIG shares. Deutsche Bank Aktiengesellschaft increased their price objective on shares of 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 increased their price objective on shares of The Hartford Financial Services Group from $75.00 to $81.00 and gave the stock an “overweight” rating in a research report on Wednesday. Wolfe Research started coverage on shares of The Hartford Financial Services Group in a research report on Monday, August 16th. They set a “peer perform” rating and a $74.00 price objective for the company. Credit Suisse Group increased their price objective on shares of The Hartford Financial Services Group from $82.00 to $93.00 and gave the stock an “outperform” rating in a research report on Thursday, September 9th. Finally, Bank of America raised shares of The Hartford Financial Services Group from a “neutral” rating to a “buy” rating and raised their target price for the company from $75.00 to $76.00 in a research report on Friday, July 30th. Four research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, The Hartford Financial Services Group presently has a consensus rating of “Buy” and a consensus price target of $72.79.

About The Hartford Financial Services Group

The Hartford Financial Services Group, Inc is an insurance and financial services company. The company provides life insurance, group and employee benefits, automobile and homeowners insurance and business insurance, as well as investment products, annuities, mutual funds, and college savings plans. It operates through the following segments: Commercial Lines, Personal Lines, Property & Casualty Other Operations, Group Benefits and Hartford Funds.

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

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