Schroder Investment Management Group Purchases 23,879 Shares of Hartford Financial Services Group Inc (NYSE:HIG)

Schroder Investment Management Group raised its position in shares of Hartford Financial Services Group Inc (NYSE:HIG) by 46.0% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 75,841 shares of the insurance provider’s stock after purchasing an additional 23,879 shares during the period. Schroder Investment Management Group’s holdings in Hartford Financial Services Group were worth $4,226,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. IFM Investors Pty Ltd raised its position in Hartford Financial Services Group by 14.7% during the 2nd quarter. IFM Investors Pty Ltd now owns 26,441 shares of the insurance provider’s stock valued at $1,473,000 after purchasing an additional 3,387 shares in the last quarter. Swiss National Bank raised its position in Hartford Financial Services Group by 16.5% during the 1st quarter. Swiss National Bank now owns 1,358,015 shares of the insurance provider’s stock valued at $67,521,000 after purchasing an additional 192,000 shares in the last quarter. Foundry Partners LLC raised its position in Hartford Financial Services Group by 0.6% during the 2nd quarter. Foundry Partners LLC now owns 241,956 shares of the insurance provider’s stock valued at $13,482,000 after purchasing an additional 1,500 shares in the last quarter. Aries Wealth Management bought a new stake in Hartford Financial Services Group during the 2nd quarter valued at $202,000. Finally, Atlantic Union Bankshares Corp purchased a new position in shares of Hartford Financial Services Group in the 2nd quarter valued at $2,296,000. 91.43% of the stock is owned by institutional investors and hedge funds.

In related news, CEO Christopher Swift sold 24,279 shares of the business’s stock in a transaction on Friday, September 13th. The stock was sold at an average price of $60.32, for a total transaction of $1,464,509.28. Following the transaction, the chief executive officer now directly owns 211,218 shares in the company, valued at approximately $12,740,669.76. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Beth Ann Costello sold 5,000 shares of the business’s stock in a transaction on Monday, August 5th. The stock was sold at an average price of $57.19, for a total value of $285,950.00. Following the transaction, the chief financial officer now owns 51,245 shares in the company, valued at $2,930,701.55. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 71,142 shares of company stock worth $4,235,058. 1.70% of the stock is owned by company insiders.

Shares of NYSE:HIG traded down $0.88 on Tuesday, reaching $59.73. The company had a trading volume of 678,148 shares, compared to its average volume of 1,665,558. Hartford Financial Services Group Inc has a 52-week low of $40.54 and a 52-week high of $61.23. The firm’s 50 day simple moving average is $59.38 and its 200-day simple moving average is $55.05. The firm has a market capitalization of $21.86 billion, a PE ratio of 13.79, a PEG ratio of 1.20 and a beta of 0.64. The company has a current ratio of 0.28, a quick ratio of 0.28 and a debt-to-equity ratio of 0.27.

Hartford Financial Services Group (NYSE:HIG) last announced its quarterly earnings results on Thursday, August 1st. The insurance provider reported $1.33 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.11 by $0.22. Hartford Financial Services Group had a return on equity of 12.44% and a net margin of 8.36%. The business had revenue of $5.09 billion for the quarter, compared to the consensus estimate of $5.07 billion. During the same period last year, the business posted $1.13 EPS. The business’s revenue was up 6.3% compared to the same quarter last year. As a group, equities research analysts predict that Hartford Financial Services Group Inc will post 5.3 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Tuesday, September 3rd will be paid a dividend of $0.30 per share. The ex-dividend date of this dividend is Friday, August 30th. This represents a $1.20 annualized dividend and a yield of 2.01%. Hartford Financial Services Group’s dividend payout ratio (DPR) is 27.71%.

A number of brokerages have recently issued reports on HIG. UBS Group lifted their price target on Hartford Financial Services Group from $61.00 to $65.00 and gave the company a “buy” rating in a report on Wednesday, July 10th. ValuEngine downgraded Hartford Financial Services Group from a “hold” rating to a “sell” rating in a report on Tuesday, September 10th. Morgan Stanley lifted their price target on Hartford Financial Services Group from $58.00 to $61.00 and gave the company an “equal weight” rating in a report on Thursday, August 15th. B. Riley lifted their price target on Hartford Financial Services Group from $66.00 to $69.00 and gave the company a “buy” rating in a report on Wednesday, June 26th. Finally, Buckingham Research lifted their price target on Hartford Financial Services Group from $60.00 to $63.00 and gave the company a “buy” rating in a report on Friday, July 19th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and ten have given a buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $62.08.

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

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