Hartford Financial Services Group Inc (NYSE:HIG) Shares Sold by Benin Management CORP

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Benin Management CORP reduced its stake in shares of Hartford Financial Services Group Inc (NYSE:HIG) by 18.6% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 91,699 shares of the insurance provider’s stock after selling 21,000 shares during the quarter. Hartford Financial Services Group accounts for approximately 2.4% of Benin Management CORP’s investment portfolio, making the stock its 12th biggest holding. Benin Management CORP’s holdings in Hartford Financial Services Group were worth $5,573,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of HIG. Morgan Stanley lifted its position in Hartford Financial Services Group by 15.7% during the second quarter. Morgan Stanley now owns 839,266 shares of the insurance provider’s stock valued at $46,764,000 after purchasing an additional 113,690 shares during the period. CSat Investment Advisory L.P. lifted its position in Hartford Financial Services Group by 135.9% during the second quarter. CSat Investment Advisory L.P. now owns 821 shares of the insurance provider’s stock valued at $45,000 after purchasing an additional 473 shares during the period. Centaurus Financial Inc. lifted its position in Hartford Financial Services Group by 1,859.6% during the second quarter. Centaurus Financial Inc. now owns 5,585 shares of the insurance provider’s stock valued at $311,000 after purchasing an additional 5,300 shares during the period. Price T Rowe Associates Inc. MD lifted its position in Hartford Financial Services Group by 13.0% during the second quarter. Price T Rowe Associates Inc. MD now owns 779,902 shares of the insurance provider’s stock valued at $43,456,000 after purchasing an additional 89,832 shares during the period. Finally, Schroder Investment Management Group lifted its position in Hartford Financial Services Group by 46.0% during the second quarter. Schroder Investment Management Group now owns 75,841 shares of the insurance provider’s stock valued at $4,226,000 after purchasing an additional 23,879 shares during the period. Institutional investors and hedge funds own 90.49% of the company’s stock.

HIG has been the subject of a number of research reports. Zacks Investment Research raised shares of Hartford Financial Services Group from a “hold” rating to a “buy” rating and set a $64.00 price objective for the company in a report on Monday, January 6th. Evercore ISI raised shares of Hartford Financial Services Group from an “in-line” rating to an “outperform” rating in a report on Wednesday, October 16th. ValuEngine cut shares of Hartford Financial Services Group from a “sell” rating to a “strong sell” rating in a report on Tuesday, December 3rd. Citigroup started coverage on shares of Hartford Financial Services Group in a report on Tuesday. They issued a “neutral” rating and a $67.00 price objective for the company. Finally, Wells Fargo & Co reaffirmed a “hold” rating and issued a $58.00 price objective on shares of Hartford Financial Services Group in a report on Monday, November 4th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have given a buy rating to the stock. Hartford Financial Services Group has a consensus rating of “Hold” and an average price target of $65.36.

HIG stock opened at $58.81 on Friday. The stock has a market capitalization of $21.59 billion, a P/E ratio of 12.57, a P/E/G ratio of 1.15 and a beta of 0.63. The firm has a 50-day simple moving average of $60.56 and a 200-day simple moving average of $59.46. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 0.28. Hartford Financial Services Group Inc has a 52 week low of $45.91 and a 52 week high of $62.75.

Hartford Financial Services Group (NYSE:HIG) last released its earnings results on Monday, November 4th. The insurance provider reported $1.50 EPS for the quarter, topping analysts’ consensus estimates of $1.24 by $0.26. The business had revenue of $5.35 billion during the quarter, compared to analysts’ expectations of $5.22 billion. Hartford Financial Services Group had a net margin of 8.66% and a return on equity of 12.69%. The company’s quarterly revenue was up 10.4% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.15 earnings per share. On average, analysts expect that Hartford Financial Services Group Inc will post 5.55 earnings per share for the current year.

In other news, EVP Jonathan R. Bennett sold 22,427 shares of the business’s stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $61.80, for a total transaction of $1,385,988.60. Also, CEO Christopher Swift sold 30,979 shares of the business’s stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $61.80, for a total transaction of $1,914,502.20. Insiders have sold 63,262 shares of company stock valued at $3,865,103 in the last three months. Corporate insiders own 1.70% of the company’s stock.

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.

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

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