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CI Investments Inc. Lowers Stake in The Hartford Financial Services Group, Inc. (NYSE:HIG)

CI Investments Inc. lowered its position in shares of The Hartford Financial Services Group, Inc. (NYSE:HIGGet Rating) by 21.4% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 8,348 shares of the insurance provider’s stock after selling 2,268 shares during the quarter. CI Investments Inc.’s holdings in The Hartford Financial Services Group were worth $599,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the company. State Street Corp lifted its holdings in The Hartford Financial Services Group by 1.1% during the fourth quarter. State Street Corp now owns 20,375,936 shares of the insurance provider’s stock valued at $1,414,434,000 after purchasing an additional 225,635 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of The Hartford Financial Services Group by 2.8% in the fourth quarter. JPMorgan Chase & Co. now owns 18,973,835 shares of the insurance provider’s stock worth $1,309,954,000 after buying an additional 508,977 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of The Hartford Financial Services Group by 1.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 5,305,298 shares of the insurance provider’s stock worth $366,278,000 after buying an additional 82,472 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its holdings in shares of The Hartford Financial Services Group by 1.9% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 4,183,948 shares of the insurance provider’s stock worth $288,860,000 after buying an additional 77,493 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its holdings in shares of The Hartford Financial Services Group by 3.4% in the first quarter. Bank of New York Mellon Corp now owns 4,168,741 shares of the insurance provider’s stock worth $299,357,000 after buying an additional 137,012 shares in the last quarter. Hedge funds and other institutional investors own 90.14% of the company’s stock.

The Hartford Financial Services Group Trading Down 0.3 %

HIG stock opened at $64.99 on Monday. The company has a quick ratio of 0.30, a current ratio of 0.30 and a debt-to-equity ratio of 0.31. The Hartford Financial Services Group, Inc. has a twelve month low of $61.59 and a twelve month high of $78.17. The stock has a market capitalization of $21.00 billion, a price-to-earnings ratio of 10.69, a price-to-earnings-growth ratio of 1.30 and a beta of 0.92. The firm’s fifty day simple moving average is $65.36 and its two-hundred day simple moving average is $68.61.

The Hartford Financial Services Group (NYSE:HIGGet Rating) last posted its quarterly earnings data on Thursday, July 28th. The insurance provider reported $2.15 earnings per share for the quarter, beating analysts’ consensus estimates of $1.52 by $0.63. The Hartford Financial Services Group had a net margin of 9.42% and a return on equity of 15.03%. The business had revenue of $3.77 billion for the quarter, compared to analysts’ expectations of $5.53 billion. During the same quarter in the previous year, the business posted $2.33 earnings per share. As a group, analysts anticipate that The Hartford Financial Services Group, Inc. will post 7.21 earnings per share for the current year.

The Hartford Financial Services Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 4th. Stockholders of record on Thursday, September 1st will be issued a $0.385 dividend. This represents a $1.54 dividend on an annualized basis and a dividend yield of 2.37%. The ex-dividend date of this dividend is Wednesday, August 31st. The Hartford Financial Services Group’s payout ratio is presently 25.33%.

Analyst Ratings Changes

Several research firms have recently commented on HIG. Citigroup began coverage on shares of The Hartford Financial Services Group in a report on Monday, May 23rd. They issued a “buy” rating and a $81.00 target price on the stock. Credit Suisse Group boosted 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 report on Friday, June 3rd. Morgan Stanley boosted their price target on shares of The Hartford Financial Services Group from $73.00 to $76.00 and gave the stock an “equal weight” rating in a research report on Friday, August 19th. Barclays reduced their price target on shares of The Hartford Financial Services Group to $78.00 in a research report on Tuesday, August 9th. Finally, Jefferies Financial Group reduced their price target on shares of The Hartford Financial Services Group from $77.00 to $72.00 and set a “hold” rating on the stock in a research report on Tuesday, July 12th. Three analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $81.20.

Insider Transactions at The Hartford Financial Services Group

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

The Hartford Financial Services Group Company 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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