NuWave Investment Management LLC Has $62,000 Position in The Hartford Financial Services Group, Inc. (NYSE:HIG)

NuWave Investment Management LLC lowered its stake in shares of The Hartford Financial Services Group, Inc. (NYSE:HIGGet Rating) by 42.3% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 861 shares of the insurance provider’s stock after selling 630 shares during the quarter. NuWave Investment Management LLC’s holdings in The Hartford Financial Services Group were worth $62,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of HIG. Covestor Ltd acquired a new stake in The Hartford Financial Services Group during the fourth quarter worth approximately $27,000. Confluence Wealth Services Inc. acquired a new stake in shares of The Hartford Financial Services Group in the 4th quarter valued at $28,000. James Reed Financial Services Inc. bought a new position in shares of The Hartford Financial Services Group in the 4th quarter valued at $34,000. EverSource Wealth Advisors LLC bought a new position in shares of The Hartford Financial Services Group in the 4th quarter valued at $35,000. Finally, Syverson Strege & Co lifted its stake in shares of The Hartford Financial Services Group by 58.2% in the 4th quarter. Syverson Strege & Co now owns 598 shares of the insurance provider’s stock valued at $41,000 after acquiring an additional 220 shares during the last quarter. 93.01% of the stock is currently owned by institutional investors and hedge funds.

In other The Hartford Financial Services Group news, EVP Robert W. Paiano sold 8,510 shares of The Hartford Financial Services Group stock in a transaction dated Monday, April 11th. The stock was sold at an average price of $75.00, for a total transaction of $638,250.00. Following the completion of the transaction, the executive vice president now owns 37,142 shares in the company, valued at approximately $2,785,650. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Scott R. Lewis sold 5,000 shares of The Hartford Financial Services Group stock in a transaction dated Monday, April 11th. The shares were sold at an average price of $75.00, for a total value of $375,000.00. Following the transaction, the senior vice president now owns 20,121 shares of the company’s stock, valued at approximately $1,509,075. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 122,597 shares of company stock valued at $8,980,210. 1.80% of the stock is currently owned by company insiders.

Shares of The Hartford Financial Services Group stock opened at $62.81 on Friday. The company has a current ratio of 0.32, a quick ratio of 0.32 and a debt-to-equity ratio of 0.28. The business has a 50-day moving average price of $69.98 and a two-hundred day moving average price of $70.24. The Hartford Financial Services Group, Inc. has a 1-year low of $59.86 and a 1-year high of $78.17. The company has a market cap of $20.66 billion, a P/E ratio of 8.64, a PEG ratio of 1.34 and a beta of 0.97.

The Hartford Financial Services Group (NYSE:HIGGet Rating) last issued its earnings results on Thursday, April 28th. The insurance provider reported $1.66 EPS for the quarter, beating the consensus estimate of $1.56 by $0.10. The company had revenue of $5.39 billion during the quarter, compared to the consensus estimate of $5.60 billion. The Hartford Financial Services Group had a return on equity of 14.84% and a net margin of 11.39%. The firm’s revenue for the quarter was up 1.8% compared to the same quarter last year. During the same period last year, the business posted $0.56 EPS. Equities research analysts forecast that The Hartford Financial Services Group, Inc. will post 6.95 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 5th. Stockholders of record on Wednesday, June 1st will be paid a $0.385 dividend. The ex-dividend date is Tuesday, May 31st. This represents a $1.54 annualized dividend and a dividend yield of 2.45%. The Hartford Financial Services Group’s dividend payout ratio is presently 21.18%.

A number of research analysts have recently commented on HIG shares. Raymond James increased their price target on The Hartford Financial Services Group from $80.00 to $85.00 in a research note on Tuesday, May 3rd. StockNews.com assumed coverage on The Hartford Financial Services Group in a research note on Thursday, March 31st. They issued a “buy” rating for the company. Credit Suisse Group raised their target price on The Hartford Financial Services Group from $93.00 to $104.00 and gave the stock an “outperform” rating in a research report on Friday, June 3rd. Citigroup assumed coverage on The Hartford Financial Services Group in a research report on Monday, May 23rd. They set a “buy” rating and a $81.00 target price for the company. Finally, Morgan Stanley lowered their target price on The Hartford Financial Services Group from $77.00 to $73.00 and set an “equal weight” rating for the company in a research report on Monday, May 23rd. Four analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $81.15.

About The Hartford Financial Services Group (Get Rating)

The Hartford Financial Services Group, Inc provides insurance and financial services to individual and business customers in the United States, the United Kingdom, and internationally. Its Commercial Lines segment offers workers' compensation, property, automobile, liability, umbrella, bond, marine, livestock, and reinsurance; and customized insurance products and risk management services, including professional liability, bond, surety, and specialty casualty coverages through regional offices, branches, sales and policyholder service centers, independent retail agents and brokers, wholesale agents, and reinsurance brokers.

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

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