Benin Management CORP Decreases Holdings in Hartford Financial Services Group Inc (HIG)

Benin Management CORP reduced its stake in shares of Hartford Financial Services Group Inc (NYSE:HIG) by 19.5% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 152,921 shares of the insurance provider’s stock after selling 37,075 shares during the period. Hartford Financial Services Group makes up about 3.5% of Benin Management CORP’s holdings, making the stock its 7th largest position. Benin Management CORP’s holdings in Hartford Financial Services Group were worth $8,606,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently modified their holdings of HIG. Sun Life Financial INC raised its stake in shares of Hartford Financial Services Group by 26,810.0% during the 2nd quarter. Sun Life Financial INC now owns 2,691 shares of the insurance provider’s stock worth $141,000 after buying an additional 2,681 shares during the last quarter. Wesbanco Bank Inc. acquired a new position in shares of Hartford Financial Services Group during the 3rd quarter worth $206,000. Bahl & Gaynor Inc. acquired a new position in shares of Hartford Financial Services Group during the 2nd quarter worth $207,000. Tdam USA Inc. acquired a new position in shares of Hartford Financial Services Group during the 3rd quarter worth $208,000. Finally, Trexquant Investment LP acquired a new position in shares of Hartford Financial Services Group during the 3rd quarter worth $234,000. Institutional investors own 88.25% of the company’s stock.

HIG has been the subject of several research reports. Wells Fargo & Co set a $55.00 price target on Hartford Financial Services Group and gave the stock a “hold” rating in a research note on Thursday, November 16th. UBS Group lifted their price target on Hartford Financial Services Group from $60.00 to $62.00 and gave the stock a “buy” rating in a research note on Wednesday, November 1st. Citigroup initiated coverage on Hartford Financial Services Group in a research note on Wednesday, December 20th. They set a “neutral” rating and a $59.00 price target for the company. Goldman Sachs Group initiated coverage on Hartford Financial Services Group in a research note on Monday, December 4th. They set a “neutral” rating and a $59.00 price target for the company. Finally, B. Riley reaffirmed a “neutral” rating on shares of Hartford Financial Services Group in a research note on Monday, November 6th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and eight have issued a buy rating to the company. The company has an average rating of “Hold” and an average target price of $58.92.

Shares of Hartford Financial Services Group Inc (NYSE HIG) traded down $0.23 during mid-day trading on Thursday, reaching $56.00. 531,886 shares of the company traded hands, compared to its average volume of 1,922,273. Hartford Financial Services Group Inc has a 12-month low of $46.35 and a 12-month high of $58.61. The firm has a market cap of $19,705.14, a P/E ratio of 42.75, a price-to-earnings-growth ratio of 1.37 and a beta of 0.99. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 0.28.

Hartford Financial Services Group (NYSE:HIG) last announced its earnings results on Monday, October 23rd. The insurance provider reported $0.60 earnings per share for the quarter, beating the consensus estimate of $0.57 by $0.03. Hartford Financial Services Group had a net margin of 2.63% and a return on equity of 8.21%. The firm had revenue of $4.68 billion during the quarter, compared to the consensus estimate of $4.68 billion. During the same quarter in the previous year, the company posted $1.06 EPS. The firm’s revenue for the quarter was down .7% on a year-over-year basis. sell-side analysts predict that Hartford Financial Services Group Inc will post 3.35 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Tuesday, January 2nd. Investors of record on Friday, December 1st were paid a $0.25 dividend. This is an increase from Hartford Financial Services Group’s previous quarterly dividend of $0.23. The ex-dividend date was Thursday, November 30th. This represents a $1.00 annualized dividend and a yield of 1.79%. Hartford Financial Services Group’s payout ratio is presently 76.34%.

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About Hartford Financial Services Group

The Hartford Financial Services Group, Inc is a holding company for insurance and financial services subsidiaries. The Company’s segments include Commercial Lines, which provides workers’ compensation, property, automobile, marine, livestock, liability and umbrella coverages primarily throughout the United States; Personal Lines, which provides automobile, homeowners and personal umbrella coverages to individuals across the United States; Group Benefits, which provides group life, accident and disability coverage, and other products and services; Property & Casualty Other Operations, which includes certain property and casualty operations; Mutual Funds, which provides investment management, administration, product distribution and related services to investors; Talcott Resolution, which consists of the run-off of the Company’s the United States individual and institutional annuity, and Private Placement Life Insurance (PPLI) businesses, and Corporate.

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

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