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Horizon Investments LLC Raises Stock Position in The Hartford Financial Services Group, Inc. (NYSE:HIG)

Horizon Investments LLC lifted its position in shares of The Hartford Financial Services Group, Inc. (NYSE:HIGGet Rating) by 22.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,821 shares of the insurance provider’s stock after acquiring an additional 3,276 shares during the quarter. Horizon Investments LLC’s holdings in The Hartford Financial Services Group were worth $1,280,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of HIG. Covestor Ltd purchased a new stake in The Hartford Financial Services Group during the fourth quarter worth $27,000. Confluence Wealth Services Inc. purchased a new stake in shares of The Hartford Financial Services Group in the 4th quarter worth about $28,000. Parkside Investments LLC acquired a new stake in The Hartford Financial Services Group in the 1st quarter valued at about $30,000. James Reed Financial Services Inc. purchased a new position in The Hartford Financial Services Group during the 4th quarter valued at about $34,000. Finally, Hazlett Burt & Watson Inc. acquired a new position in The Hartford Financial Services Group during the first quarter worth about $36,000. Institutional investors and hedge funds own 90.14% of the company’s stock.

Insider Buying and Selling at The Hartford Financial Services Group

In other news, SVP Scott R. Lewis sold 2,558 shares of the firm’s stock in a transaction on 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 owns 18,396 shares of the company’s stock, valued at approximately $1,196,475.84. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 1.80% of the stock is currently owned by corporate insiders.

The Hartford Financial Services Group Price Performance

HIG opened at $67.02 on Monday. The Hartford Financial Services Group, Inc. has a 1 year low of $61.59 and a 1 year high of $78.17. The company’s 50 day simple moving average is $65.42 and its 200 day simple moving average is $68.37. The stock has a market capitalization of $21.66 billion, a PE ratio of 11.02, a P/E/G ratio of 1.33 and a beta of 0.91. 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 (NYSE:HIGGet Rating) last released its quarterly earnings data on Thursday, July 28th. The insurance provider reported $2.15 EPS for the quarter, topping analysts’ consensus estimates of $1.52 by $0.63. The Hartford Financial Services Group had a return on equity of 15.03% and a net margin of 9.42%. The business had revenue of $3.77 billion during the quarter, compared to the consensus estimate of $5.53 billion. During the same period in the prior year, the firm posted $2.33 EPS. As a group, sell-side analysts expect that The Hartford Financial Services Group, Inc. will post 7.21 EPS for the current year.

The Hartford Financial Services Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 4th. Investors of record on Thursday, September 1st will be issued a $0.385 dividend. The ex-dividend date is Wednesday, August 31st. This represents a $1.54 annualized dividend and a yield of 2.30%. The Hartford Financial Services Group’s payout ratio is 25.33%.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. Barclays lowered their price target on shares of The Hartford Financial Services Group to $78.00 in a research report on Tuesday, August 9th. 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 price target for the company. Morgan Stanley upped their price objective on The Hartford Financial Services Group from $73.00 to $76.00 and gave the company an “equal weight” rating in a research report on Friday, August 19th. Royal Bank of Canada decreased their price objective on The Hartford Financial Services Group from $77.00 to $71.00 and set a “sector perform” rating on the stock in a research note on Monday, August 1st. Finally, Jefferies Financial Group cut their target price on shares of The Hartford Financial Services Group from $77.00 to $72.00 and set a “hold” rating for the company in a research note 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. According to data from MarketBeat, the company 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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