Pictet Asset Management Ltd. Has $16.36 Million Stake in Hartford Financial Services Group, Inc. (The) (HIG)

Pictet Asset Management Ltd. decreased its position in Hartford Financial Services Group, Inc. (The) (NYSE:HIG) by 3.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 331,206 shares of the insurance provider’s stock after selling 12,200 shares during the period. Pictet Asset Management Ltd.’s holdings in Hartford Financial Services Group, Inc. (The) were worth $16,358,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Westside Investment Management Inc. increased its position in shares of Hartford Financial Services Group, Inc. (The) by 85.8% in the first quarter. Westside Investment Management Inc. now owns 2,165 shares of the insurance provider’s stock worth $103,000 after buying an additional 1,000 shares during the last quarter. Quadrant Capital Group LLC increased its position in shares of Hartford Financial Services Group, Inc. (The) by 0.4% in the first quarter. Quadrant Capital Group LLC now owns 2,293 shares of the insurance provider’s stock worth $106,000 after buying an additional 10 shares during the last quarter. Hartford Financial Management Inc. increased its position in shares of Hartford Financial Services Group, Inc. (The) by 489.6% in the first quarter. Hartford Financial Management Inc. now owns 2,653 shares of the insurance provider’s stock worth $127,000 after buying an additional 2,203 shares during the last quarter. Advisory Services Network LLC bought a new position in shares of Hartford Financial Services Group, Inc. (The) during the first quarter worth approximately $163,000. Finally, Coconut Grove Bank increased its position in shares of Hartford Financial Services Group, Inc. (The) by 65.4% in the first quarter. Coconut Grove Bank now owns 3,440 shares of the insurance provider’s stock worth $165,000 after buying an additional 1,360 shares during the last quarter. Hedge funds and other institutional investors own 90.85% of the company’s stock.

Shares of Hartford Financial Services Group, Inc. (NYSE HIG) opened at 56.04 on Friday. The firm’s 50-day moving average price is $53.87 and its 200 day moving average price is $50.13. Hartford Financial Services Group, Inc. has a 1-year low of $39.68 and a 1-year high of $56.60. The firm has a market cap of $20.42 billion, a PE ratio of 30.76 and a beta of 0.93.

Hartford Financial Services Group, Inc. (The) (NYSE:HIG) last issued its quarterly earnings results on Thursday, July 27th. The insurance provider reported $1.04 earnings per share for the quarter, topping analysts’ consensus estimates of $0.94 by $0.10. Hartford Financial Services Group, Inc. (The) had a return on equity of 9.13% and a net margin of 3.73%. The company had revenue of $4.77 billion for the quarter, compared to analyst estimates of $4.30 billion. During the same quarter in the prior year, the company posted $0.31 EPS. The business’s revenue for the quarter was up 2.0% compared to the same quarter last year. On average, equities research analysts forecast that Hartford Financial Services Group, Inc. will post $4.26 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, October 2nd. Shareholders of record on Friday, September 1st will be paid a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.64%. The ex-dividend date is Wednesday, August 30th. Hartford Financial Services Group, Inc. (The)’s dividend payout ratio is presently 51.40%.

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A number of brokerages recently commented on HIG. ValuEngine upgraded Hartford Financial Services Group, Inc. (The) from a “hold” rating to a “buy” rating in a research report on Friday, June 2nd. Keefe, Bruyette & Woods reiterated an “outperform” rating on shares of Hartford Financial Services Group, Inc. (The) in a research report on Tuesday, July 4th. Deutsche Bank AG began coverage on Hartford Financial Services Group, Inc. (The) in a research report on Tuesday, June 6th. They set a “buy” rating and a $60.00 price objective on the stock. BidaskClub upgraded Hartford Financial Services Group, Inc. (The) from a “buy” rating to a “strong-buy” rating in a research report on Saturday, June 17th. Finally, Barclays PLC lifted their price objective on Hartford Financial Services Group, Inc. (The) from $59.00 to $61.00 and gave the stock an “overweight” rating in a research report on Friday. Five investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $56.30.

About Hartford Financial Services Group, Inc. (The)

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

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