Vident Investment Advisory LLC Decreases Stake in Hartford Financial Services Group Inc (NYSE:HIG)

Vident Investment Advisory LLC lowered its stake in shares of Hartford Financial Services Group Inc (NYSE:HIG) by 19.4% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 38,116 shares of the insurance provider’s stock after selling 9,175 shares during the period. Vident Investment Advisory LLC’s holdings in Hartford Financial Services Group were worth $1,469,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Manchester Financial Inc. acquired a new stake in shares of Hartford Financial Services Group in the 2nd quarter worth approximately $35,000. Westside Investment Management Inc. acquired a new stake in Hartford Financial Services Group in the first quarter valued at $41,000. CENTRAL TRUST Co grew its holdings in Hartford Financial Services Group by 58.3% in the second quarter. CENTRAL TRUST Co now owns 1,630 shares of the insurance provider’s stock valued at $63,000 after purchasing an additional 600 shares during the last quarter. Procyon Private Wealth Partners LLC increased its position in shares of Hartford Financial Services Group by 86.5% in the first quarter. Procyon Private Wealth Partners LLC now owns 2,089 shares of the insurance provider’s stock valued at $74,000 after buying an additional 969 shares in the last quarter. Finally, Patriot Financial Group Insurance Agency LLC raised its stake in shares of Hartford Financial Services Group by 15.3% during the 1st quarter. Patriot Financial Group Insurance Agency LLC now owns 2,114 shares of the insurance provider’s stock worth $75,000 after buying an additional 280 shares during the last quarter. Institutional investors own 89.80% of the company’s stock.

Shares of NYSE:HIG opened at $42.32 on Friday. The company has a market cap of $15.15 billion, a P/E ratio of 7.71, a P/E/G ratio of 1.24 and a beta of 0.97. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 0.29. Hartford Financial Services Group Inc has a 52 week low of $19.04 and a 52 week high of $62.75. The business has a fifty day simple moving average of $39.49 and a 200-day simple moving average of $43.84.

Hartford Financial Services Group (NYSE:HIG) last issued its quarterly earnings results on Thursday, July 30th. The insurance provider reported $1.22 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $1.22. The firm had revenue of $3.20 billion for the quarter, compared to analyst estimates of $3.15 billion. Hartford Financial Services Group had a return on equity of 12.86% and a net margin of 8.80%. Sell-side analysts expect that Hartford Financial Services Group Inc will post 4.88 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 2nd. Stockholders of record on Tuesday, September 1st will be issued a dividend of $0.325 per share. The ex-dividend date is Monday, August 31st. This represents a $1.30 annualized dividend and a dividend yield of 3.07%. Hartford Financial Services Group’s payout ratio is currently 23.01%.

HIG has been the topic of a number of research reports. Morgan Stanley lowered their price objective on shares of Hartford Financial Services Group from $48.00 to $45.00 and set an “overweight” rating on the stock in a research note on Monday, May 4th. Wells Fargo & Co dropped their price objective on shares of Hartford Financial Services Group from $50.00 to $46.00 and set an “overweight” rating for the company in a research note on Friday, May 1st. Royal Bank of Canada cut their price objective on Hartford Financial Services Group from $66.00 to $39.00 and set a “sector perform” rating for the company in a research report on Wednesday, April 8th. Bank of America assumed coverage on Hartford Financial Services Group in a report on Monday, June 1st. They set a “buy” rating on the stock. Finally, MKM Partners dropped their price target on Hartford Financial Services Group from $70.00 to $50.00 and set a “buy” rating for the company in a research report on Thursday, April 30th. One research analyst has rated the stock with a sell rating, four have given a hold rating and twelve have given a buy rating to the company. Hartford Financial Services Group has an average rating of “Buy” and an average target price of $54.57.

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.

See Also: Net Income

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

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