SG Americas Securities LLC Lowers Position in Hartford Financial Services Group Inc (NYSE:HIG)

SG Americas Securities LLC trimmed its stake in Hartford Financial Services Group Inc (NYSE:HIG) by 2.0% in the third quarter, Holdings Channel.com reports. The firm owned 163,564 shares of the insurance provider’s stock after selling 3,274 shares during the quarter. SG Americas Securities LLC’s holdings in Hartford Financial Services Group were worth $9,914,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in HIG. Virtus ETF Advisers LLC acquired a new position in Hartford Financial Services Group during the second quarter valued at approximately $26,000. NuWave Investment Management LLC lifted 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 valued at $28,000 after buying an additional 456 shares in the last quarter. Rational Advisors LLC lifted 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 valued at $28,000 after buying an additional 456 shares in the last quarter. Venturi Wealth Management LLC acquired a new position in Hartford Financial Services Group during the third quarter valued at approximately $28,000. Finally, KCS Wealth Advisory acquired a new position in Hartford Financial Services Group during the third quarter valued at approximately $32,000. Hedge funds and other institutional investors own 91.62% of the company’s stock.

A number of research analysts have weighed in on HIG shares. Wells Fargo & Co reaffirmed a “hold” rating and set a $58.00 price target on shares of Hartford Financial Services Group in a research report on Monday, November 4th. Buckingham Research lifted their price target on shares of Hartford Financial Services Group from $60.00 to $63.00 and gave the company a “buy” rating in a research report on Friday, July 19th. Royal Bank of Canada lifted their price target on shares of Hartford Financial Services Group from $68.00 to $70.00 and gave the company an “outperform” rating in a research report on Wednesday. Barclays set a $70.00 price target on shares of Hartford Financial Services Group and gave the company a “buy” rating in a research report on Monday, August 12th. Finally, MKM Partners lifted their price target on shares of Hartford Financial Services Group to $70.00 and gave the company a “buy” rating in a research report on Tuesday. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and twelve have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $63.92.

Shares of NYSE HIG traded up $0.09 during trading on Friday, reaching $61.09. 2,090,048 shares of the stock were exchanged, compared to its average volume of 2,033,708. The business’s 50-day moving average price is $58.92 and its 200 day moving average price is $56.76. Hartford Financial Services Group Inc has a twelve month low of $40.54 and a twelve month high of $61.63. The company has a quick ratio of 0.28, a current ratio of 0.29 and a debt-to-equity ratio of 0.28. The company has a market capitalization of $21.84 billion, a price-to-earnings ratio of 14.11, a price-to-earnings-growth ratio of 1.18 and a beta of 0.62.

Hartford Financial Services Group (NYSE:HIG) last posted 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 business had revenue of $5.35 billion for the quarter, compared to analysts’ expectations of $5.22 billion. During the same period in the previous year, the company posted $1.15 earnings per share. The business’s revenue for the quarter was up 10.4% compared to the same quarter last year. As a group, sell-side analysts expect that Hartford Financial Services Group Inc will post 5.47 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Monday, December 2nd will be given a dividend of $0.30 per share. The ex-dividend date of this dividend is Friday, November 29th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.96%. Hartford Financial Services Group’s payout ratio is currently 27.71%.

In related news, CFO Beth Ann Costello sold 5,000 shares of the company’s stock in a transaction on Monday, November 4th. The shares were sold at an average price of $57.70, for a total value of $288,500.00. Following the sale, the chief financial officer now directly owns 46,245 shares of the company’s stock, valued at $2,668,336.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Brion S. Johnson sold 3,299 shares of the company’s stock in a transaction on Friday, September 20th. The shares were sold at an average price of $60.79, for a total transaction of $200,546.21. Following the completion of the sale, 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. Over the last three months, insiders have sold 71,837 shares of company stock worth $4,273,875. Corporate insiders own 1.70% of the company’s stock.

Hartford Financial Services Group Company 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.

Read More: What is Liquidity?

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.