Hartford Financial Services Group Inc (HIG) Holdings Reduced by KBC Group NV

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KBC Group NV lowered its stake in Hartford Financial Services Group Inc (NYSE:HIG) by 9.4% during the fourth quarter, Holdings Channel reports. The institutional investor owned 32,622 shares of the insurance provider’s stock after selling 3,367 shares during the quarter. KBC Group NV’s holdings in Hartford Financial Services Group were worth $1,450,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Goelzer Investment Management Inc. lifted its position in Hartford Financial Services Group by 0.4% in the fourth quarter. Goelzer Investment Management Inc. now owns 92,323 shares of the insurance provider’s stock valued at $4,104,000 after buying an additional 400 shares during the last quarter. Nisa Investment Advisors LLC lifted its position in Hartford Financial Services Group by 0.4% in the fourth quarter. Nisa Investment Advisors LLC now owns 135,355 shares of the insurance provider’s stock valued at $6,017,000 after buying an additional 500 shares during the last quarter. D.A. Davidson & CO. lifted its position in Hartford Financial Services Group by 11.7% in the fourth quarter. D.A. Davidson & CO. now owns 4,954 shares of the insurance provider’s stock valued at $220,000 after buying an additional 517 shares during the last quarter. Founders Capital Management acquired a new position in Hartford Financial Services Group in the fourth quarter valued at about $27,000. Finally, Dubuque Bank & Trust Co. acquired a new position in Hartford Financial Services Group in the fourth quarter valued at about $29,000. 90.52% of the stock is currently owned by institutional investors.

A number of research analysts have commented on the stock. ValuEngine raised shares of Hartford Financial Services Group from a “sell” rating to a “hold” rating in a research report on Friday. Barclays reduced their price target on shares of Hartford Financial Services Group from $64.00 to $59.00 and set an “overweight” rating on the stock in a research report on Monday, November 12th. Wells Fargo & Co set a $56.00 price target on shares of Hartford Financial Services Group and gave the stock a “hold” rating in a research report on Friday, October 26th. Morgan Stanley reduced their price target on shares of Hartford Financial Services Group from $57.00 to $52.00 and set an “equal weight” rating on the stock in a research report on Wednesday, November 14th. Finally, Royal Bank of Canada reduced their price target on shares of Hartford Financial Services Group to $58.00 and set an “outperform” rating on the stock in a research report on Monday, October 29th. They noted that the move was a valuation call. Six investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Hartford Financial Services Group has an average rating of “Buy” and an average price target of $56.92.

In other news, Director Julie Richardson bought 5,000 shares of Hartford Financial Services Group stock in a transaction that occurred on Tuesday, December 11th. The shares were purchased at an average price of $41.44 per share, with a total value of $207,200.00. Following the completion of the acquisition, the director now directly owns 17,213 shares in the company, valued at $713,306.72. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Christopher Swift bought 11,423 shares of Hartford Financial Services Group stock in a transaction that occurred on Thursday, January 10th. The stock was purchased at an average cost of $43.73 per share, for a total transaction of $499,527.79. Following the acquisition, the chief executive officer now owns 135,389 shares of the company’s stock, valued at $5,920,560.97. The disclosure for this purchase can be found here. 1.50% of the stock is owned by company insiders.

Shares of NYSE:HIG opened at $48.24 on Tuesday. The company has a market capitalization of $17.18 billion, a P/E ratio of 11.14, a PEG ratio of 1.02 and a beta of 0.72. Hartford Financial Services Group Inc has a fifty-two week low of $40.54 and a fifty-two week high of $56.13. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.29 and a current ratio of 0.32.

Hartford Financial Services Group (NYSE:HIG) last issued its earnings results on Monday, February 4th. The insurance provider reported $0.78 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.65 by $0.13. The firm had revenue of $4.63 billion for the quarter, compared to analysts’ expectations of $4.73 billion. Hartford Financial Services Group had a net margin of 9.53% and a return on equity of 12.31%. The firm’s revenue was up 1.0% compared to the same quarter last year. During the same quarter last year, the company earned $0.81 earnings per share. As a group, analysts predict that Hartford Financial Services Group Inc will post 4.96 earnings per share for the current fiscal year.

Hartford Financial Services Group announced that its Board of Directors has authorized a stock buyback plan on Monday, February 4th that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the insurance provider to reacquire up to 5.9% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.

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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. It operates through five segments: Commercial Lines, Personal Lines, Property & Casualty Other Operations, Group Benefits, and Mutual Funds.

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Want to see what other hedge funds are holding HIG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Hartford Financial Services Group Inc (NYSE:HIG).

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

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