Systematic Financial Management LP reduced its stake in shares of Hartford Financial Services Group Inc (NYSE:HIG) by 57.0% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 118,407 shares of the insurance provider’s stock after selling 156,751 shares during the quarter. Systematic Financial Management LP’s holdings in Hartford Financial Services Group were worth $5,887,000 at the end of the most recent reporting period.
Other institutional investors also recently bought and sold shares of the company. Founders Capital Management bought a new stake in Hartford Financial Services Group in the 4th quarter valued at $27,000. Dubuque Bank & Trust Co. purchased a new position in shares of Hartford Financial Services Group during the fourth quarter valued at approximately $29,000. Horan Capital Advisors LLC. purchased a new position in shares of Hartford Financial Services Group during the first quarter valued at approximately $37,000. Pinnacle Bank purchased a new position in shares of Hartford Financial Services Group during the fourth quarter valued at approximately $35,000. Finally, Riverview Trust Co boosted its position in shares of Hartford Financial Services Group by 55.8% during the first quarter. Riverview Trust Co now owns 849 shares of the insurance provider’s stock valued at $42,000 after buying an additional 304 shares during the last quarter. Institutional investors own 91.75% of the company’s stock.
A number of equities analysts have recently issued reports on HIG shares. ValuEngine cut Hartford Financial Services Group from a “hold” rating to a “sell” rating in a report on Tuesday, March 5th. Compass Point started coverage on Hartford Financial Services Group in a research report on Tuesday, January 15th. They set a “buy” rating and a $58.00 price objective for the company. TheStreet upgraded Hartford Financial Services Group from a “c+” rating to a “b-” rating in a research note on Thursday, March 14th. Barclays increased their target price on Hartford Financial Services Group from $55.00 to $57.00 and gave the company an “overweight” rating in a research note on Monday, April 1st. Finally, Wells Fargo & Co reiterated a “hold” rating and set a $56.00 target price on shares of Hartford Financial Services Group in a research note on Thursday, May 2nd. Five analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $57.25.
HIG traded up $0.70 during trading on Tuesday, hitting $52.66. 38,736 shares of the company’s stock traded hands, compared to its average volume of 2,121,904. The company has a current ratio of 0.32, a quick ratio of 0.32 and a debt-to-equity ratio of 0.27. Hartford Financial Services Group Inc has a 12-month low of $40.54 and a 12-month high of $54.03. The company has a market cap of $18.98 billion, a price-to-earnings ratio of 12.18, a P/E/G ratio of 1.08 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 EPS for the quarter, beating the consensus estimate of $1.24 by $0.15. The business had revenue of $4.94 billion for the quarter, compared to the consensus estimate of $4.84 billion. Hartford Financial Services Group had a return on equity of 12.46% and a net margin of 9.58%. The company’s revenue was up 5.3% compared to the same quarter last year. During the same period last year, the business posted $1.27 EPS. As a group, research analysts forecast that Hartford Financial Services Group Inc will post 5.12 EPS for the current year.
Hartford Financial Services Group declared that its board has initiated a share buyback program on Monday, February 4th that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the insurance provider to purchase up to 5.9% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board of directors believes its stock is undervalued.
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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.
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