Swiss National Bank Purchases 16,000 Shares of Hartford Financial Services Group Inc (NYSE:HIG)

Swiss National Bank raised its position in shares of Hartford Financial Services Group Inc (NYSE:HIG) by 1.1% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,451,767 shares of the insurance provider’s stock after purchasing an additional 16,000 shares during the quarter. Swiss National Bank owned 0.40% of Hartford Financial Services Group worth $88,224,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in HIG. First Trust Advisors LP grew its stake in shares of Hartford Financial Services Group by 14.3% in the third quarter. First Trust Advisors LP now owns 1,199,437 shares of the insurance provider’s stock worth $72,698,000 after acquiring an additional 150,178 shares during the period. Boston Advisors LLC grew its stake in shares of Hartford Financial Services Group by 1.9% in the third quarter. Boston Advisors LLC now owns 10,865 shares of the insurance provider’s stock worth $659,000 after acquiring an additional 205 shares during the period. Massachusetts Financial Services Co. MA grew its stake in shares of Hartford Financial Services Group by 5.5% in the third quarter. Massachusetts Financial Services Co. MA now owns 3,495,240 shares of the insurance provider’s stock worth $211,846,000 after acquiring an additional 183,437 shares during the period. Scout Investments Inc. grew its stake in shares of Hartford Financial Services Group by 263.2% in the fourth quarter. Scout Investments Inc. now owns 813,621 shares of the insurance provider’s stock worth $49,444,000 after acquiring an additional 589,631 shares during the period. Finally, Public Employees Retirement System of Ohio grew its stake in shares of Hartford Financial Services Group by 7.2% in the third quarter. Public Employees Retirement System of Ohio now owns 214,532 shares of the insurance provider’s stock worth $13,003,000 after acquiring an additional 14,387 shares during the period. Institutional investors and hedge funds own 90.57% of the company’s stock.

NYSE HIG traded down $0.37 during trading hours on Friday, hitting $58.87. 51,209 shares of the company’s stock traded hands, compared to its average volume of 2,253,190. The business’s fifty day moving average price is $59.87 and its two-hundred day moving average price is $59.66. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 0.30. The firm has a market capitalization of $21.26 billion, a P/E ratio of 10.42, a P/E/G ratio of 1.14 and a beta of 0.60. Hartford Financial Services Group Inc has a 52 week low of $47.50 and a 52 week high of $62.75.

Hartford Financial Services Group (NYSE:HIG) last announced its earnings results on Monday, February 3rd. The insurance provider reported $1.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.32 by $0.11. Hartford Financial Services Group had a net margin of 10.05% and a return on equity of 13.60%. The company had revenue of $5.36 billion during the quarter, compared to analyst estimates of $5.23 billion. During the same period in the previous year, the business posted $0.78 earnings per share. The firm’s quarterly revenue was up 15.7% compared to the same quarter last year. On average, sell-side analysts expect that Hartford Financial Services Group Inc will post 5.43 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Thursday, April 2nd. Shareholders of record on Monday, March 2nd will be issued a dividend of $0.325 per share. The ex-dividend date of this dividend is Friday, February 28th. This represents a $1.30 annualized dividend and a yield of 2.21%. This is an increase from Hartford Financial Services Group’s previous quarterly dividend of $0.30. Hartford Financial Services Group’s payout ratio is currently 21.24%.

A number of analysts have recently commented on the stock. Zacks Investment Research upgraded shares of Hartford Financial Services Group from a “hold” rating to a “buy” rating and set a $64.00 price target for the company in a research note on Monday, January 6th. Wells Fargo & Co assumed coverage on shares of Hartford Financial Services Group in a research note on Tuesday, February 4th. They issued a “hold” rating and a $65.00 price target for the company. Citigroup assumed coverage on shares of Hartford Financial Services Group in a research note on Tuesday, January 21st. They issued a “neutral” rating and a $67.00 price target for the company. MKM Partners lifted their price target on shares of Hartford Financial Services Group to $70.00 and gave the stock a “buy” rating in a research note on Tuesday, November 5th. Finally, Royal Bank of Canada lowered shares of Hartford Financial Services Group from an “outperform” rating to a “sector perform” rating and reduced their price target for the stock from $70.00 to $68.00 in a research note on Thursday, December 5th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have given a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $66.00.

About Hartford Financial Services Group

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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