Neuburgh Advisers LLC Sells 1,462 Shares of Hartford Financial Services Group Inc (HIG)

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Neuburgh Advisers LLC lessened its stake in Hartford Financial Services Group Inc (NYSE:HIG) by 6.7% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 20,332 shares of the insurance provider’s stock after selling 1,462 shares during the period. Neuburgh Advisers LLC’s holdings in Hartford Financial Services Group were worth $904,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in the business. Stifel Financial Corp lifted its position in shares of Hartford Financial Services Group by 77.8% during the 4th quarter. Stifel Financial Corp now owns 107,428 shares of the insurance provider’s stock valued at $4,775,000 after buying an additional 46,995 shares in the last quarter. Prudential PLC raised its stake in Hartford Financial Services Group by 0.6% in the 4th quarter. Prudential PLC now owns 3,897,436 shares of the insurance provider’s stock valued at $173,242,000 after purchasing an additional 22,157 shares during the last quarter. Hudson Bay Capital Management LP acquired a new position in Hartford Financial Services Group in the 4th quarter valued at $6,711,000. Dimensional Fund Advisors LP raised its stake in Hartford Financial Services Group by 12.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 5,109,074 shares of the insurance provider’s stock valued at $227,084,000 after purchasing an additional 565,189 shares during the last quarter. Finally, Commonwealth Bank of Australia raised its stake in Hartford Financial Services Group by 8.7% in the 4th quarter. Commonwealth Bank of Australia now owns 81,585 shares of the insurance provider’s stock valued at $3,622,000 after purchasing an additional 6,530 shares during the last quarter. Institutional investors and hedge funds own 91.28% of the company’s stock.

In other Hartford Financial Services Group news, EVP David C. Robinson sold 2,392 shares of the firm’s stock in a transaction on Thursday, January 31st. The stock was sold at an average price of $46.35, for a total value of $110,869.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Christopher Swift bought 11,423 shares of the business’s stock in a transaction on Thursday, January 10th. The stock was bought at an average cost of $43.73 per share, with a total value of $499,527.79. Following the completion of the purchase, the chief executive officer now directly owns 135,389 shares in the company, valued at $5,920,560.97. The disclosure for this purchase can be found here. 1.50% of the stock is owned by company insiders.

Several research firms recently commented on HIG. Wells Fargo & Co set a $53.00 price objective on Hartford Financial Services Group and gave the company a “hold” rating in a research note on Wednesday, December 5th. Credit Suisse Group set a $53.00 price objective on Hartford Financial Services Group and gave the company a “hold” rating in a research note on Thursday, December 13th. Langen Mcalenn raised Hartford Financial Services Group from a “neutral” rating to a “buy” rating in a research note on Tuesday, December 4th. ValuEngine downgraded Hartford Financial Services Group from a “hold” rating to a “sell” rating in a research note on Wednesday, January 2nd. Finally, Janney Montgomery Scott raised Hartford Financial Services Group from a “neutral” rating to a “buy” rating in a research note on Tuesday, December 4th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and nine have given a buy rating to the stock. Hartford Financial Services Group presently has an average rating of “Buy” and an average target price of $56.92.

Shares of HIG opened at $48.81 on Friday. Hartford Financial Services Group Inc has a 52-week low of $40.54 and a 52-week high of $55.16. The firm has a market capitalization of $17.49 billion, a price-to-earnings ratio of 11.27, a P/E/G ratio of 1.02 and a beta of 0.72. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.32 and a quick ratio of 0.32.

Hartford Financial Services Group (NYSE:HIG) last issued its earnings results on Monday, February 4th. The insurance provider reported $0.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.65 by $0.13. Hartford Financial Services Group had a return on equity of 12.31% and a net margin of 9.53%. The business had revenue of $4.63 billion during the quarter, compared to the consensus estimate of $4.73 billion. During the same period last year, the company earned $0.81 EPS. The company’s revenue for the quarter was up 1.0% on a year-over-year basis. On average, sell-side analysts forecast that Hartford Financial Services Group Inc will post 4.98 EPS for the current fiscal year.

Hartford Financial Services Group announced that its Board of Directors has initiated a share repurchase program on Monday, February 4th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the insurance provider to repurchase up to 5.9% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s leadership believes its shares are undervalued.

The business also recently announced a quarterly dividend, which will be paid on Monday, April 1st. Shareholders of record on Monday, March 4th will be paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.46%. The ex-dividend date of this dividend is Friday, March 1st. Hartford Financial Services Group’s dividend payout ratio (DPR) is presently 27.71%.

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Hartford Financial Services Group Company Profile

The Hartford Financial Services Group, Inc, through its subsidiaries, provides insurance and financial services to individual and business customers in the United States. It operates through five segments: Commercial Lines, Personal Lines, Property & Casualty Other Operations, Group Benefits, and Mutual Funds.

Further Reading: How to calculate the intrinsic value of a stock

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

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