The Manufacturers Life Insurance Company Reduces Holdings in The Hartford Financial Services Group, Inc. (NYSE:HIG)

The Manufacturers Life Insurance Company decreased its position in shares of The Hartford Financial Services Group, Inc. (NYSE:HIG) by 1.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 716,029 shares of the insurance provider’s stock after selling 9,232 shares during the period. The Manufacturers Life Insurance Company owned about 0.20% of The Hartford Financial Services Group worth $26,392,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in HIG. Horan Capital Advisors LLC. bought a new stake in shares of The Hartford Financial Services Group in the 3rd quarter worth about $28,000. Nachman Norwood & Parrott Inc bought a new stake in shares of The Hartford Financial Services Group in the 3rd quarter worth about $33,000. Orion Portfolio Solutions LLC increased its position in shares of The Hartford Financial Services Group by 82.0% in the 2nd quarter. Orion Portfolio Solutions LLC now owns 892 shares of the insurance provider’s stock worth $34,000 after purchasing an additional 402 shares during the last quarter. Hall Laurie J Trustee bought a new stake in shares of The Hartford Financial Services Group in the 3rd quarter worth about $37,000. Finally, Harbor Investment Advisory LLC increased its position in shares of The Hartford Financial Services Group by 370.0% in the 3rd quarter. Harbor Investment Advisory LLC now owns 1,175 shares of the insurance provider’s stock worth $43,000 after purchasing an additional 925 shares during the last quarter. 89.90% of the stock is currently owned by hedge funds and other institutional investors.

The Hartford Financial Services Group stock opened at $45.77 on Friday. The company has a quick ratio of 0.30, a current ratio of 0.30 and a debt-to-equity ratio of 0.25. The firm has a 50-day moving average price of $40.14 and a two-hundred day moving average price of $39.55. The firm has a market capitalization of $16.40 billion, a price-to-earnings ratio of 9.58, a PEG ratio of 1.06 and a beta of 0.99. The Hartford Financial Services Group, Inc. has a 52-week low of $19.04 and a 52-week high of $62.75.

The Hartford Financial Services Group (NYSE:HIG) last posted its earnings results on Thursday, October 29th. The insurance provider reported $1.46 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.88 by $0.58. The firm had revenue of $5.17 billion during the quarter, compared to analyst estimates of $5.15 billion. The Hartford Financial Services Group had a net margin of 8.50% and a return on equity of 12.19%. The Hartford Financial Services Group’s revenue was down 3.3% on a year-over-year basis. During the same period in the previous year, the business posted $1.50 EPS. Research analysts expect that The Hartford Financial Services Group, Inc. will post 5.32 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, January 5th. Shareholders of record on Tuesday, December 1st will be paid a dividend of $0.325 per share. This represents a $1.30 dividend on an annualized basis and a yield of 2.84%. The ex-dividend date of this dividend is Monday, November 30th. The Hartford Financial Services Group’s payout ratio is 23.01%.

HIG has been the subject of several research analyst reports. Barclays initiated coverage on shares of The Hartford Financial Services Group in a research report on Tuesday, November 17th. They issued an “overweight” rating and a $51.00 target price for the company. Royal Bank of Canada boosted their target price on shares of The Hartford Financial Services Group from $43.00 to $46.00 and gave the stock a “sector perform” rating in a research report on Monday, August 3rd. Credit Suisse Group boosted their target price on shares of The Hartford Financial Services Group from $44.00 to $48.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 11th. Morgan Stanley boosted their target price on shares of The Hartford Financial Services Group from $45.00 to $49.00 and gave the stock an “overweight” rating in a research report on Monday, August 3rd. Finally, Bank of America decreased their price target on shares of The Hartford Financial Services Group from $57.00 to $51.00 and set a “buy” rating for the company in a report on Thursday, September 17th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and eleven have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $54.07.

In other news, CEO Christopher Swift bought 6,975 shares of The Hartford Financial Services Group stock in a transaction on Wednesday, September 23rd. The stock was purchased at an average cost of $35.98 per share, with a total value of $250,960.50. Following the purchase, the chief executive officer now directly owns 227,309 shares of the company’s stock, valued at approximately $8,178,577.82. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 1.70% of the company’s stock.

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 and internationally. Its Commercial Lines segment offers workers' compensation, property, automobile, liability, umbrella, bond, marine, livestock, and reinsurance products; 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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