Nelson Van Denburg & Campbell Wealth Management Group LLC Takes Position in Hartford Financial Services Group Inc (HIG)

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Nelson Van Denburg & Campbell Wealth Management Group LLC purchased a new position in shares of Hartford Financial Services Group Inc (NYSE:HIG) during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 5,422 shares of the insurance provider’s stock, valued at approximately $269,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Harvest Group Wealth Management LLC acquired a new stake in Hartford Financial Services Group in the first quarter valued at about $33,000. Pinnacle Bank acquired a new stake in Hartford Financial Services Group in the fourth quarter valued at about $35,000. Horan Capital Advisors LLC. acquired a new stake in Hartford Financial Services Group in the first quarter valued at about $37,000. Rational Advisors LLC lifted its position in Hartford Financial Services Group by 87.8% in the fourth quarter. Rational Advisors LLC now owns 875 shares of the insurance provider’s stock valued at $39,000 after purchasing an additional 409 shares during the period. Finally, Riverview Trust Co lifted its position in Hartford Financial Services Group by 55.8% in the first quarter. Riverview Trust Co now owns 849 shares of the insurance provider’s stock valued at $42,000 after purchasing an additional 304 shares during the period. 89.07% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Hartford Financial Services Group stock opened at $53.32 on Friday. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.32 and a quick ratio of 0.32. Hartford Financial Services Group Inc has a 1 year low of $40.54 and a 1 year high of $54.28. The company has a market cap of $19.39 billion, a P/E ratio of 12.31, a P/E/G ratio of 1.10 and a beta of 0.73.

Hartford Financial Services Group (NYSE:HIG) last released its earnings results on Wednesday, May 1st. The insurance provider reported $1.39 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.24 by $0.15. The firm had revenue of $4.94 billion during the quarter, compared to analysts’ expectations of $4.84 billion. Hartford Financial Services Group had a net margin of 9.58% and a return on equity of 12.46%. Hartford Financial Services Group’s revenue for the quarter was up 5.3% on a year-over-year basis. During the same period in the previous year, the company earned $1.27 EPS. On average, analysts forecast that Hartford Financial Services Group Inc will post 5.12 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Monday, June 3rd will be paid a dividend of $0.30 per share. The ex-dividend date of this dividend is Friday, May 31st. This represents a $1.20 annualized dividend and a dividend yield of 2.25%. Hartford Financial Services Group’s dividend payout ratio is presently 27.71%.

Hartford Financial Services Group declared that its board has authorized a stock buyback 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 reacquire up to 5.9% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s management believes its stock is undervalued.

A number of equities research analysts recently commented on the stock. Barclays raised their price objective on shares of Hartford Financial Services Group from $57.00 to $62.00 and gave the company an “overweight” rating in a research report on Wednesday. Zacks Investment Research downgraded shares of Hartford Financial Services Group from a “buy” rating to a “hold” rating in a research report on Monday. Wells Fargo & Co restated a “hold” rating and issued a $56.00 price objective on shares of Hartford Financial Services Group in a research report on Thursday, May 2nd. ValuEngine upgraded shares of Hartford Financial Services Group from a “sell” rating to a “hold” rating in a research report on Wednesday, March 27th. Finally, TheStreet upgraded shares of Hartford Financial Services Group from a “c+” rating to a “b-” rating in a research report on Thursday, March 14th. Five equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $57.67.

In other news, EVP Robert W. Paiano sold 5,000 shares of the business’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $50.00, for a total transaction of $250,000.00. Following the completion of the sale, the executive vice president now directly owns 33,342 shares of the company’s stock, valued at approximately $1,667,100. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Martha Gervasi sold 5,039 shares of Hartford Financial Services Group stock in a transaction on Tuesday, May 14th. The shares were sold at an average price of $52.87, for a total transaction of $266,411.93. Following the transaction, the insider now owns 15,210 shares in the company, valued at approximately $804,152.70. The disclosure for this sale can be found here. Insiders have sold a total of 15,039 shares of company stock valued at $778,412 over the last three months. Corporate insiders own 1.70% of the company’s stock.

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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. 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.

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

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