MetLife Investment Advisors LLC Acquires New Stake in Hartford Financial Services Group Inc (HIG)

MetLife Investment Advisors LLC purchased a new position in Hartford Financial Services Group Inc (NYSE:HIG) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 110,371 shares of the insurance provider’s stock, valued at approximately $6,212,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. First Manhattan Co. grew its holdings in shares of Hartford Financial Services Group by 103.2% in the fourth quarter. First Manhattan Co. now owns 1,969 shares of the insurance provider’s stock worth $110,000 after purchasing an additional 1,000 shares during the last quarter. Cerebellum GP LLC bought a new position in shares of Hartford Financial Services Group in the fourth quarter worth about $129,000. Delpha Capital Management LLC bought a new position in shares of Hartford Financial Services Group in the fourth quarter worth about $157,000. Focused Wealth Management Inc bought a new position in shares of Hartford Financial Services Group in the fourth quarter worth about $189,000. Finally, Sheaff Brock Investment Advisors LLC bought a new position in shares of Hartford Financial Services Group in the fourth quarter worth about $200,000. Hedge funds and other institutional investors own 89.86% of the company’s stock.

A number of research analysts have recently commented on HIG shares. Zacks Investment Research upgraded shares of Hartford Financial Services Group from a “hold” rating to a “buy” rating and set a $60.00 price target on the stock in a report on Tuesday, March 6th. Goldman Sachs started coverage on shares of Hartford Financial Services Group in a report on Monday, December 4th. They issued a “neutral” rating and a $59.00 price target on the stock. ValuEngine upgraded shares of Hartford Financial Services Group from a “hold” rating to a “buy” rating in a report on Friday, February 2nd. Credit Suisse Group upgraded shares of Hartford Financial Services Group from a “neutral” rating to an “outperform” rating and set a $65.00 price target on the stock in a report on Tuesday, December 19th. Finally, Citigroup started coverage on shares of Hartford Financial Services Group in a report on Wednesday, December 20th. They issued a “neutral” rating and a $59.00 price target on the stock. Seven investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Hartford Financial Services Group presently has an average rating of “Buy” and an average target price of $58.92.

In related news, SVP Scott R. Lewis sold 2,319 shares of the company’s stock in a transaction dated Wednesday, March 7th. The shares were sold at an average price of $53.87, for a total value of $124,924.53. Following the completion of the sale, the senior vice president now directly owns 16,187 shares of the company’s stock, valued at $871,993.69. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP David C. Robinson sold 868 shares of the company’s stock in a transaction dated Monday, March 5th. The stock was sold at an average price of $51.39, for a total transaction of $44,606.52. The disclosure for this sale can be found here. 1.50% of the stock is owned by corporate insiders.

Shares of HIG stock opened at $50.29 on Friday. Hartford Financial Services Group Inc has a one year low of $46.35 and a one year high of $59.20. The firm has a market cap of $18,520.20, a PE ratio of -5.69, a P/E/G ratio of 1.24 and a beta of 1.00. The company has a quick ratio of 0.26, a current ratio of 0.26 and a debt-to-equity ratio of 0.35.

Hartford Financial Services Group (NYSE:HIG) last released its quarterly earnings data on Thursday, February 8th. The insurance provider reported $0.81 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.77 by $0.04. Hartford Financial Services Group had a negative net margin of 16.79% and a positive return on equity of 7.89%. The company had revenue of $4.54 billion during the quarter, compared to analyst estimates of $4.54 billion. During the same period in the prior year, the firm earned $1.08 earnings per share. The firm’s revenue for the quarter was up 14.1% compared to the same quarter last year. analysts anticipate that Hartford Financial Services Group Inc will post 4.4 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 2nd. Investors of record on Monday, March 5th will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 1.99%. The ex-dividend date of this dividend is Friday, March 2nd. Hartford Financial Services Group’s dividend payout ratio (DPR) is presently -11.31%.

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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.

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

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