JPMorgan Chase & Co. Has $1.40 Billion Position in Hartford Financial Services Group Inc (HIG)

JPMorgan Chase & Co. trimmed its holdings in Hartford Financial Services Group Inc (NYSE:HIG) by 15.5% in the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 25,416,707 shares of the insurance provider’s stock after selling 4,654,191 shares during the period. JPMorgan Chase & Co. owned approximately 7.13% of Hartford Financial Services Group worth $1,400,968,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Dupont Capital Management Corp acquired a new stake in shares of Hartford Financial Services Group in the second quarter valued at $119,000. Sun Life Financial INC raised its stake in Hartford Financial Services Group by 26,810.0% in the second quarter. Sun Life Financial INC now owns 2,691 shares of the insurance provider’s stock valued at $141,000 after buying an additional 2,681 shares in the last quarter. Hartford Financial Management Inc. increased its position in shares of Hartford Financial Services Group by 5.7% during the second quarter. Hartford Financial Management Inc. now owns 2,803 shares of the insurance provider’s stock worth $147,000 after purchasing an additional 150 shares in the last quarter. Howard Hughes Medical Institute acquired a new stake in shares of Hartford Financial Services Group during the second quarter worth about $148,000. Finally, Wesbanco Bank Inc. acquired a new stake in shares of Hartford Financial Services Group during the third quarter worth about $206,000. Institutional investors own 90.30% of the company’s stock.

Hartford Financial Services Group Inc (NYSE HIG) opened at $55.64 on Monday. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.40 and a quick ratio of 0.40. The firm has a market cap of $19,850.00, a PE ratio of 14.96, a price-to-earnings-growth ratio of 1.61 and a beta of 0.98. Hartford Financial Services Group Inc has a 12-month low of $46.35 and a 12-month high of $57.16.

Hartford Financial Services Group (NYSE:HIG) last issued its earnings results on Monday, October 23rd. The insurance provider reported $0.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.57 by $0.03. The business had revenue of $4.68 billion for the quarter, compared to analyst estimates of $4.68 billion. Hartford Financial Services Group had a net margin of 2.63% and a return on equity of 8.21%. The company’s revenue for the quarter was down .7% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.06 EPS. equities research analysts predict that Hartford Financial Services Group Inc will post 3.63 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 2nd. Investors of record on Friday, December 1st will be paid a dividend of $0.25 per share. This is a positive change from Hartford Financial Services Group’s previous quarterly dividend of $0.23. The ex-dividend date of this dividend is Thursday, November 30th. This represents a $1.00 annualized dividend and a yield of 1.80%. Hartford Financial Services Group’s dividend payout ratio is 70.23%.

A number of analysts have recently commented on HIG shares. Keefe, Bruyette & Woods reiterated a “buy” rating and set a $58.00 target price on shares of Hartford Financial Services Group in a research report on Sunday, July 30th. Zacks Investment Research raised Hartford Financial Services Group from a “sell” rating to a “hold” rating and set a $62.00 price target on the stock in a report on Monday, July 31st. Deutsche Bank AG reissued a “buy” rating and set a $61.00 price target (up previously from $60.00) on shares of Hartford Financial Services Group in a report on Tuesday, August 1st. Barclays PLC raised their price target on Hartford Financial Services Group from $59.00 to $61.00 and gave the stock an “overweight” rating in a report on Friday, August 11th. Finally, BidaskClub raised Hartford Financial Services Group from a “hold” rating to a “buy” rating in a report on Saturday, August 12th. Six investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $57.42.

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About Hartford Financial Services Group

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

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