Affinity Investment Advisors LLC Sells 53,124 Shares of Hartford Financial Services Group Inc (HIG)

Affinity Investment Advisors LLC lessened its stake in shares of Hartford Financial Services Group Inc (NYSE:HIG) by 35.9% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 94,677 shares of the insurance provider’s stock after selling 53,124 shares during the quarter. Affinity Investment Advisors LLC’s holdings in Hartford Financial Services Group were worth $4,707,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently bought and sold shares of HIG. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its holdings in Hartford Financial Services Group by 7.4% in the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 21,015 shares of the insurance provider’s stock valued at $1,045,000 after buying an additional 1,445 shares during the period. Hanson McClain Inc. grew its holdings in Hartford Financial Services Group by 11,337.0% in the 1st quarter. Hanson McClain Inc. now owns 6,176 shares of the insurance provider’s stock valued at $307,000 after buying an additional 6,122 shares during the period. Sumitomo Mitsui Asset Management Company LTD grew its holdings in Hartford Financial Services Group by 1.5% in the 1st quarter. Sumitomo Mitsui Asset Management Company LTD now owns 24,500 shares of the insurance provider’s stock valued at $1,218,000 after buying an additional 353 shares during the period. Raymond James Financial Services Advisors Inc. grew its holdings in Hartford Financial Services Group by 8.8% in the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 76,194 shares of the insurance provider’s stock valued at $3,788,000 after buying an additional 6,156 shares during the period. Finally, Everence Capital Management Inc. grew its holdings in Hartford Financial Services Group by 60.0% in the 1st quarter. Everence Capital Management Inc. now owns 14,530 shares of the insurance provider’s stock valued at $722,000 after buying an additional 5,450 shares during the period. Hedge funds and other institutional investors own 91.21% of the company’s stock.

Shares of NYSE:HIG opened at $53.60 on Friday. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.32 and a quick ratio of 0.32. Hartford Financial Services Group Inc has a 1 year low of $40.54 and a 1 year high of $54.03. The stock has a market cap of $18.78 billion, a PE ratio of 12.38, a PEG ratio of 1.07 and a beta of 0.73.

Hartford Financial Services Group (NYSE:HIG) last issued its earnings results on Wednesday, May 1st. The insurance provider reported $1.39 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.24 by $0.15. Hartford Financial Services Group had a return on equity of 12.46% and a net margin of 9.58%. The business had revenue of $4.94 billion during the quarter, compared to analysts’ expectations of $4.84 billion. During the same quarter in the previous year, the business earned $1.27 EPS. The company’s revenue for the quarter was up 5.3% on a year-over-year basis. As a group, sell-side analysts forecast that Hartford Financial Services Group Inc will post 5.12 EPS for the current year.

Hartford Financial Services Group announced that its Board of Directors has initiated a share buyback program on Monday, February 4th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the insurance provider to buy up to 5.9% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board believes its shares are undervalued.

In other news, Director Trevor Fetter bought 10,000 shares of the firm’s stock in a transaction dated Thursday, May 9th. The stock was acquired at an average price of $52.19 per share, for a total transaction of $521,900.00. Following the acquisition, the director now owns 50,945 shares of the company’s stock, valued at $2,658,819.55. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Robert W. Paiano sold 5,000 shares of the business’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $50.00, for a total value of $250,000.00. Following the sale, the executive vice president now owns 33,342 shares of the company’s stock, valued at approximately $1,667,100. The disclosure for this sale can be found here. 1.70% of the stock is currently owned by insiders.

Several analysts have commented on HIG shares. Zacks Investment Research cut Hartford Financial Services Group from a “buy” rating to a “hold” rating in a report on Wednesday, May 8th. Wells Fargo & Co restated a “hold” rating and issued a $56.00 price target on shares of Hartford Financial Services Group in a report on Thursday, May 2nd. ValuEngine upgraded Hartford Financial Services Group from a “sell” rating to a “hold” rating in a report on Friday, February 8th. Barclays lifted their price target on Hartford Financial Services Group from $55.00 to $57.00 and gave the company an “overweight” rating in a report on Monday, April 1st. Finally, TheStreet upgraded Hartford Financial Services Group from a “c+” rating to a “b-” rating in a report on Thursday, March 14th. Five investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $57.25.

TRADEMARK VIOLATION NOTICE: This news story was originally posted by Stock Observer and is owned by of Stock Observer. If you are viewing this news story on another website, it was illegally copied and republished in violation of US & international trademark & copyright laws. The correct version of this news story can be accessed at https://www.thestockobserver.com/2019/05/17/affinity-investment-advisors-llc-sells-53124-shares-of-hartford-financial-services-group-inc-hig.html.

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: What is systematic risk?

Want to see what other hedge funds are holding HIG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Hartford Financial Services Group Inc (NYSE:HIG).

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

Receive News & Ratings for Hartford Financial Services Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Hartford Financial Services Group and related companies with MarketBeat.com's FREE daily email newsletter.