Wedge Capital Management L L P NC Trims Stake in Hartford Financial Services Group Inc (NYSE:HIG)

Share on StockTwits

Wedge Capital Management L L P NC reduced its position in Hartford Financial Services Group Inc (NYSE:HIG) by 8.5% in the 3rd quarter, Holdings Channel reports. The firm owned 496,129 shares of the insurance provider’s stock after selling 46,345 shares during the period. Wedge Capital Management L L P NC’s holdings in Hartford Financial Services Group were worth $30,070,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. Pensionfund DSM Netherlands purchased a new stake in Hartford Financial Services Group during the 2nd quarter worth about $2,452,000. Pensionfund Sabic purchased a new stake in Hartford Financial Services Group during the 2nd quarter worth about $1,616,000. Crossmark Global Holdings Inc. lifted its holdings in Hartford Financial Services Group by 4.4% during the 2nd quarter. Crossmark Global Holdings Inc. now owns 46,233 shares of the insurance provider’s stock worth $2,576,000 after buying an additional 1,951 shares during the last quarter. Retirement Systems of Alabama lifted its holdings in Hartford Financial Services Group by 0.7% during the 2nd quarter. Retirement Systems of Alabama now owns 168,582 shares of the insurance provider’s stock worth $9,393,000 after buying an additional 1,197 shares during the last quarter. Finally, First Citizens Bank & Trust Co. purchased a new stake in Hartford Financial Services Group during the 2nd quarter worth about $215,000. 91.62% of the stock is owned by institutional investors and hedge funds.

A number of analysts have issued reports on HIG shares. Morgan Stanley lifted their price target on Hartford Financial Services Group from $58.00 to $61.00 and gave the stock an “equal weight” rating in a report on Thursday, August 15th. Buckingham Research lifted their price target on Hartford Financial Services Group from $60.00 to $63.00 and gave the stock a “buy” rating in a report on Friday, July 19th. Evercore ISI raised Hartford Financial Services Group from an “in-line” rating to an “outperform” rating in a report on Wednesday, October 16th. MKM Partners boosted their target price on Hartford Financial Services Group to $70.00 and gave the company a “buy” rating in a report on Tuesday. Finally, Royal Bank of Canada reissued a “buy” rating on shares of Hartford Financial Services Group in a report on Wednesday. One investment analyst has rated the stock with a sell rating, four have given a hold rating and eleven have issued a buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $63.17.

In related news, Director Robert B. Allardice III sold 9,500 shares of the business’s stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $58.22, for a total value of $553,090.00. Following the transaction, the director now owns 21,684 shares in the company, valued at approximately $1,262,442.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Robert B. Allardice III sold 3,500 shares of the business’s stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $58.71, for a total value of $205,485.00. Following the completion of the transaction, the director now owns 21,684 shares in the company, valued at approximately $1,273,067.64. The disclosure for this sale can be found here. Insiders sold a total of 75,337 shares of company stock worth $4,479,360 in the last 90 days. 1.70% of the stock is currently owned by insiders.

Shares of Hartford Financial Services Group stock traded up $0.69 on Wednesday, hitting $61.08. The stock had a trading volume of 2,754,127 shares, compared to its average volume of 1,877,480. Hartford Financial Services Group Inc has a 52-week low of $40.54 and a 52-week high of $61.23. The company has a current ratio of 0.28, a quick ratio of 0.28 and a debt-to-equity ratio of 0.27. The stock has a market cap of $20.80 billion, a price-to-earnings ratio of 14.11, a P/E/G ratio of 1.13 and a beta of 0.62. The company’s 50 day moving average price is $58.90 and its 200 day moving average price is $56.61.

Hartford Financial Services Group (NYSE:HIG) last posted its earnings results on Monday, November 4th. The insurance provider reported $1.50 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.24 by $0.26. Hartford Financial Services Group had a return on equity of 12.44% and a net margin of 8.36%. The business had revenue of $5.35 billion during the quarter, compared to the consensus estimate of $5.22 billion. During the same period in the previous year, the business earned $1.15 EPS. The business’s quarterly revenue was up 10.4% on a year-over-year basis. Analysts predict that Hartford Financial Services Group Inc will post 5.34 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Monday, December 2nd will be given a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 1.96%. The ex-dividend date of this dividend is Friday, November 29th. Hartford Financial Services Group’s dividend payout ratio (DPR) is presently 27.71%.

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. 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.

Read More: How to Profit and Limit Losses With Stop Orders

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)

Receive News & Ratings for Hartford Financial Services Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Hartford Financial Services Group and related companies with MarketBeat.com's FREE daily email newsletter.



Latest News

NortonLifeLock Inc.  Expected to Announce Earnings of $0.08 Per Share
NortonLifeLock Inc. Expected to Announce Earnings of $0.08 Per Share
DAV Coin  Price Reaches $0.0002
DAV Coin Price Reaches $0.0002
Zacks: Analysts Expect Chico’s FAS, Inc.  Will Post Earnings of -$0.15 Per Share
Zacks: Analysts Expect Chico’s FAS, Inc. Will Post Earnings of -$0.15 Per Share
-$0.08 EPS Expected for Oasis Petroleum Inc.  This Quarter
-$0.08 EPS Expected for Oasis Petroleum Inc. This Quarter
Dimecoin Hits Market Cap of $771,918.00
Dimecoin Hits Market Cap of $771,918.00
Datum Market Capitalization Hits $790,817.00
Datum Market Capitalization Hits $790,817.00


© 2006-2019 Ticker Report