Gateway Investment Advisers LLC Lowers Position in Hartford Financial Services Group Inc (HIG)

Gateway Investment Advisers LLC lowered its position in Hartford Financial Services Group Inc (NYSE:HIG) by 2.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 94,126 shares of the insurance provider’s stock after selling 2,826 shares during the period. Gateway Investment Advisers LLC’s holdings in Hartford Financial Services Group were worth $5,297,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. PGGM Investments grew its holdings in shares of Hartford Financial Services Group by 195.7% in the 3rd quarter. PGGM Investments now owns 752,785 shares of the insurance provider’s stock worth $41,727,000 after acquiring an additional 498,249 shares during the period. California Public Employees Retirement System grew its holdings in shares of Hartford Financial Services Group by 3.7% in the 3rd quarter. California Public Employees Retirement System now owns 1,174,021 shares of the insurance provider’s stock worth $65,076,000 after acquiring an additional 42,330 shares during the period. Carret Asset Management LLC grew its holdings in shares of Hartford Financial Services Group by 20.8% in the 2nd quarter. Carret Asset Management LLC now owns 82,380 shares of the insurance provider’s stock worth $4,331,000 after acquiring an additional 14,188 shares during the period. AMP Capital Investors Ltd grew its holdings in shares of Hartford Financial Services Group by 2.2% in the 3rd quarter. AMP Capital Investors Ltd now owns 273,812 shares of the insurance provider’s stock worth $15,175,000 after acquiring an additional 5,830 shares during the period. Finally, Oregon Public Employees Retirement Fund grew its holdings in shares of Hartford Financial Services Group by 5.9% in the 3rd quarter. Oregon Public Employees Retirement Fund now owns 77,207 shares of the insurance provider’s stock worth $4,280,000 after acquiring an additional 4,299 shares during the period. Institutional investors and hedge funds own 88.28% of the company’s stock.

Shares of Hartford Financial Services Group Inc (HIG) opened at $55.96 on Monday. The company has a market capitalization of $19,961.98, a price-to-earnings ratio of 42.72, a price-to-earnings-growth ratio of 1.35 and a beta of 0.99. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 0.28. Hartford Financial Services Group Inc has a fifty-two week low of $46.35 and a fifty-two week high of $58.61.

Hartford Financial Services Group (NYSE:HIG) last announced its earnings results on Monday, October 23rd. The insurance provider reported $0.60 EPS for the quarter, beating analysts’ consensus estimates of $0.57 by $0.03. The firm had revenue of $4.68 billion for the quarter, compared to analysts’ expectations of $4.68 billion. Hartford Financial Services Group had a return on equity of 8.21% and a net margin of 2.63%. Hartford Financial Services Group’s quarterly revenue was down .7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.06 EPS. equities research analysts forecast that Hartford Financial Services Group Inc will post 3.38 earnings per share for the current year.

The business also recently announced a quarterly dividend, which was paid on Tuesday, January 2nd. Shareholders of record on Friday, December 1st were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.79%. The ex-dividend date of this dividend was Thursday, November 30th. This is a boost from Hartford Financial Services Group’s previous quarterly dividend of $0.23. Hartford Financial Services Group’s dividend payout ratio is 76.34%.

A number of equities research analysts recently weighed in on HIG shares. Wells Fargo & Co restated a “hold” rating and issued a $55.00 price target on shares of Hartford Financial Services Group in a report on Monday, October 23rd. Zacks Investment Research cut Hartford Financial Services Group from a “hold” rating to a “strong sell” rating in a report on Tuesday, December 26th. Credit Suisse Group upgraded Hartford Financial Services Group from a “neutral” rating to an “outperform” rating and set a $65.00 price target on the stock in a report on Tuesday, December 19th. UBS Group increased their target price on Hartford Financial Services Group from $60.00 to $62.00 and gave the company a “buy” rating in a report on Wednesday, November 1st. Finally, Citigroup assumed coverage on Hartford Financial Services Group in a report on Wednesday, December 20th. They set a “neutral” rating and a $59.00 target price on the stock. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and eight have issued a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $58.92.

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Hartford Financial Services Group Company Profile

The Hartford Financial Services Group, Inc is a holding company for insurance and financial services subsidiaries. The Company’s segments include Commercial Lines, which provides workers’ compensation, property, automobile, marine, livestock, liability and umbrella coverages primarily throughout the United States; Personal Lines, which provides automobile, homeowners and personal umbrella coverages to individuals across the United States; Group Benefits, which provides group life, accident and disability coverage, and other products and services; Property & Casualty Other Operations, which includes certain property and casualty operations; Mutual Funds, which provides investment management, administration, product distribution and related services to investors; Talcott Resolution, which consists of the run-off of the Company’s the United States individual and institutional annuity, and Private Placement Life Insurance (PPLI) businesses, and Corporate.

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

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