BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Boosts Holdings in The Hartford Financial Services Group, Inc. (NYSE:HIG)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its holdings in The Hartford Financial Services Group, Inc. (NYSE:HIG) by 12.4% during the second quarter, Holdings Channel reports. The firm owned 66,052 shares of the insurance provider’s stock after acquiring an additional 7,296 shares during the quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in The Hartford Financial Services Group were worth $4,093,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Holloway Wealth Management LLC purchased a new position in The Hartford Financial Services Group in the 2nd quarter worth approximately $25,000. Bedel Financial Consulting Inc. purchased a new stake in shares of The Hartford Financial Services Group during the 2nd quarter worth approximately $25,000. Certified Advisory Corp purchased a new stake in shares of The Hartford Financial Services Group during the 1st quarter worth approximately $29,000. Ironwood Wealth Management Inc. purchased a new stake in shares of The Hartford Financial Services Group during the 2nd quarter worth approximately $29,000. Finally, E Fund Management Co. Ltd. purchased a new stake in shares of The Hartford Financial Services Group during the 1st quarter worth approximately $42,000. 91.07% of the stock is currently owned by institutional investors.

In related news, EVP William A. Bloom sold 16,000 shares of the firm’s stock in a transaction dated Tuesday, July 20th. The stock was sold at an average price of $62.00, for a total transaction of $992,000.00. Following the sale, the executive vice president now owns 5,353 shares of the company’s stock, valued at $331,886. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Jonathan R. Bennett sold 22,406 shares of the firm’s stock in a transaction dated Wednesday, September 1st. The shares were sold at an average price of $70.00, for a total value of $1,568,420.00. Following the sale, the executive vice president now directly owns 48,047 shares in the company, valued at approximately $3,363,290. The disclosure for this sale can be found here. Insiders have sold a total of 52,875 shares of company stock worth $3,524,395 in the last three months. Corporate insiders own 1.55% of the company’s stock.

Several analysts have recently issued reports on the company. Wolfe Research assumed coverage on The Hartford Financial Services Group in a report on Monday, August 16th. They set a “peer perform” rating and a $74.00 price objective on the stock. Deutsche Bank Aktiengesellschaft increased their price target on The Hartford Financial Services Group from $60.00 to $73.00 and gave the company a “buy” rating in a report on Monday, July 12th. Credit Suisse Group increased their price target on The Hartford Financial Services Group from $82.00 to $93.00 and gave the company an “outperform” rating in a report on Thursday, September 9th. Finally, Bank of America upgraded The Hartford Financial Services Group from a “neutral” rating to a “buy” rating and increased their price target for the company from $75.00 to $76.00 in a report on Friday, July 30th. Four investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $72.21.

Shares of The Hartford Financial Services Group stock opened at $70.12 on Wednesday. The stock’s fifty day moving average is $65.50 and its two-hundred day moving average is $64.56. The company has a market capitalization of $24.34 billion, a PE ratio of 11.86, a price-to-earnings-growth ratio of 1.68 and a beta of 1.11. The company has a quick ratio of 0.31, a current ratio of 0.31 and a debt-to-equity ratio of 0.24. The Hartford Financial Services Group, Inc. has a 52 week low of $34.69 and a 52 week high of $70.88.

The Hartford Financial Services Group (NYSE:HIG) last announced its quarterly earnings data on Wednesday, July 28th. The insurance provider reported $2.33 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.34 by $0.99. The Hartford Financial Services Group had a return on equity of 12.47% and a net margin of 10.05%. As a group, research analysts anticipate that The Hartford Financial Services Group, Inc. will post 5.87 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Monday, October 4th. Stockholders of record on Wednesday, September 1st will be given a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.00%. The ex-dividend date of this dividend is Tuesday, August 31st. The Hartford Financial Services Group’s payout ratio is 24.22%.

About The Hartford Financial Services Group

The Hartford Financial Services Group, Inc is an insurance and financial services company. The company provides life insurance, group and employee benefits, automobile and homeowners insurance and business insurance, as well as investment products, annuities, mutual funds, and college savings plans. It operates through the following segments: Commercial Lines, Personal Lines, Property & Casualty Other Operations, Group Benefits and Hartford Funds.

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

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