4,222 Shares in Hartford Financial Services Group Inc (HIG) Purchased by Kinneret Advisory LLC

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Kinneret Advisory LLC acquired a new stake in shares of Hartford Financial Services Group Inc (NYSE:HIG) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 4,222 shares of the insurance provider’s stock, valued at approximately $189,000.

Several other hedge funds have also modified their holdings of HIG. Parallel Advisors LLC lifted its stake in shares of Hartford Financial Services Group by 20.0% during the 4th quarter. Parallel Advisors LLC now owns 1,553 shares of the insurance provider’s stock valued at $69,000 after buying an additional 259 shares in the last quarter. Shelton Capital Management lifted its stake in shares of Hartford Financial Services Group by 7.1% during the 4th quarter. Shelton Capital Management now owns 4,522 shares of the insurance provider’s stock valued at $201,000 after buying an additional 300 shares in the last quarter. Cigna Investments Inc. New lifted its stake in shares of Hartford Financial Services Group by 3.1% during the 4th quarter. Cigna Investments Inc. New now owns 10,429 shares of the insurance provider’s stock valued at $464,000 after buying an additional 312 shares in the last quarter. Commerzbank Aktiengesellschaft FI lifted its stake in shares of Hartford Financial Services Group by 4.1% during the 4th quarter. Commerzbank Aktiengesellschaft FI now owns 9,767 shares of the insurance provider’s stock valued at $434,000 after buying an additional 382 shares in the last quarter. Finally, Goelzer Investment Management Inc. lifted its stake in Hartford Financial Services Group by 0.4% in the 4th quarter. Goelzer Investment Management Inc. now owns 92,323 shares of the insurance provider’s stock worth $4,104,000 after purchasing an additional 400 shares in the last quarter. 91.28% of the stock is owned by hedge funds and other institutional investors.

Shares of HIG stock opened at $48.81 on Friday. The firm has a market capitalization of $17.55 billion, a price-to-earnings ratio of 11.27, a P/E/G ratio of 1.02 and a beta of 0.72. Hartford Financial Services Group Inc has a 52 week low of $40.54 and a 52 week high of $55.16. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.32 and a current ratio of 0.32.

Hartford Financial Services Group (NYSE:HIG) last announced its earnings results on Monday, February 4th. The insurance provider reported $0.78 earnings per share (EPS) for the quarter, beating the 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 business’s revenue was up 1.0% compared to the same quarter last year. During the same period in the prior year, the company earned $0.81 EPS. As a group, equities analysts expect that Hartford Financial Services Group Inc will post 4.98 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, April 1st. Stockholders of record on Monday, March 4th will be given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 2.46%. The ex-dividend date of this dividend is Friday, March 1st. Hartford Financial Services Group’s dividend payout ratio is 27.71%.

Hartford Financial Services Group announced that its Board of Directors has initiated a stock repurchase plan on Monday, February 4th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the insurance provider to repurchase up to 5.9% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s management believes its shares are undervalued.

Several brokerages have commented on HIG. ValuEngine upgraded shares of Hartford Financial Services Group from a “sell” rating to a “hold” rating in a research note on Thursday, December 27th. Wells Fargo & Co set a $53.00 price target on shares of Hartford Financial Services Group and gave the stock a “hold” rating in a research note on Wednesday, December 5th. Credit Suisse Group set a $53.00 price target on shares of Hartford Financial Services Group and gave the stock a “hold” rating in a research note on Thursday, December 13th. Janney Montgomery Scott upgraded shares of Hartford Financial Services Group from a “neutral” rating to a “buy” rating in a research note on Tuesday, December 4th. Finally, Langen Mcalenn upgraded shares of Hartford Financial Services Group from a “neutral” rating to a “buy” rating in a research note on Tuesday, December 4th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and nine have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $56.92.

In other news, EVP David C. Robinson sold 2,392 shares of the company’s stock in a transaction dated Thursday, January 31st. The shares were sold at an average price of $46.35, for a total transaction of $110,869.20. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Christopher Swift bought 11,423 shares of the firm’s stock in a transaction dated Thursday, January 10th. The shares were acquired at an average price of $43.73 per share, for a total transaction of $499,527.79. Following the completion of the transaction, the chief executive officer now directly owns 135,389 shares in the company, valued at approximately $5,920,560.97. The disclosure for this purchase can be found here. 1.50% of the stock is currently owned by corporate insiders.

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

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

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