Mirae Asset Global Investments Co. Ltd. Boosts Stock Holdings in The Hartford Financial Services Group, Inc. (NYSE:HIG)

Mirae Asset Global Investments Co. Ltd. raised its stake in The Hartford Financial Services Group, Inc. (NYSE:HIGGet Rating) by 14.8% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 79,272 shares of the insurance provider’s stock after purchasing an additional 10,200 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in The Hartford Financial Services Group were worth $5,692,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Toroso Investments LLC boosted its position in The Hartford Financial Services Group by 3.8% during the 1st quarter. Toroso Investments LLC now owns 4,293 shares of the insurance provider’s stock worth $308,000 after purchasing an additional 159 shares during the period. Steward Partners Investment Advisory LLC lifted its position in The Hartford Financial Services Group by 2.5% during the 1st quarter. Steward Partners Investment Advisory LLC now owns 6,725 shares of the insurance provider’s stock worth $483,000 after acquiring an additional 162 shares in the last quarter. Fieldpoint Private Securities LLC boosted its holdings in The Hartford Financial Services Group by 2.6% in the 1st quarter. Fieldpoint Private Securities LLC now owns 6,502 shares of the insurance provider’s stock worth $467,000 after acquiring an additional 165 shares during the period. Spire Wealth Management grew its position in The Hartford Financial Services Group by 5.5% in the first quarter. Spire Wealth Management now owns 3,303 shares of the insurance provider’s stock valued at $237,000 after acquiring an additional 173 shares in the last quarter. Finally, AGF Investments LLC lifted its position in shares of The Hartford Financial Services Group by 1.6% during the first quarter. AGF Investments LLC now owns 11,579 shares of the insurance provider’s stock worth $831,000 after purchasing an additional 183 shares in the last quarter. 90.14% of the stock is owned by hedge funds and other institutional investors.

The Hartford Financial Services Group Trading Down 1.1 %

NYSE HIG opened at $62.39 on Friday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.30 and a current ratio of 0.30. The Hartford Financial Services Group, Inc. has a one year low of $61.59 and a one year high of $78.17. The company has a 50-day simple moving average of $65.47 and a 200-day simple moving average of $68.18. The firm has a market capitalization of $20.16 billion, a PE ratio of 10.26, a price-to-earnings-growth ratio of 1.29 and a beta of 0.91.

The Hartford Financial Services Group (NYSE:HIGGet Rating) last issued its earnings results on Thursday, July 28th. The insurance provider reported $2.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.52 by $0.63. The firm had revenue of $3.77 billion for the quarter, compared to analysts’ expectations of $5.53 billion. The Hartford Financial Services Group had a net margin of 9.42% and a return on equity of 15.03%. During the same quarter last year, the company posted $2.33 earnings per share. On average, equities analysts forecast that The Hartford Financial Services Group, Inc. will post 7.21 earnings per share for the current year.

The Hartford Financial Services Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 4th. Shareholders of record on Thursday, September 1st will be paid a $0.385 dividend. This represents a $1.54 dividend on an annualized basis and a yield of 2.47%. The ex-dividend date of this dividend is Wednesday, August 31st. The Hartford Financial Services Group’s payout ratio is 25.33%.

Insider Activity

In other The Hartford Financial Services Group news, SVP Scott R. Lewis sold 2,558 shares of the business’s stock in a transaction dated Tuesday, August 9th. The shares were sold at an average price of $65.04, for a total transaction of $166,372.32. Following the completion of the transaction, the senior vice president now directly owns 18,396 shares of the company’s stock, valued at approximately $1,196,475.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 1.80% of the company’s stock.

Wall Street Analyst Weigh In

HIG has been the topic of several analyst reports. Credit Suisse Group lifted their price target on shares of The Hartford Financial Services Group from $93.00 to $104.00 and gave the stock an “outperform” rating in a research note on Friday, June 3rd. Barclays cut their target price on The Hartford Financial Services Group to $78.00 in a research report on Tuesday, August 9th. Royal Bank of Canada decreased their price target on shares of The Hartford Financial Services Group from $77.00 to $71.00 and set a “sector perform” rating for the company in a research report on Monday, August 1st. Morgan Stanley upped their price target on shares of The Hartford Financial Services Group from $73.00 to $76.00 and gave the company an “equal weight” rating in a report on Friday, August 19th. Finally, Jefferies Financial Group decreased their price objective on shares of The Hartford Financial Services Group from $77.00 to $72.00 and set a “hold” rating for the company in a report on Tuesday, July 12th. Three research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $81.20.

The Hartford Financial Services Group Profile

(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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