Amalgamated Bank Trims Stock Position in The Hartford Financial Services Group, Inc. (NYSE:HIG)

Amalgamated Bank lowered its position in shares of The Hartford Financial Services Group, Inc. (NYSE:HIGGet Rating) by 7.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 85,351 shares of the insurance provider’s stock after selling 6,418 shares during the period. Amalgamated Bank’s holdings in The Hartford Financial Services Group were worth $6,129,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of the company. Verition Fund Management LLC grew its stake in The Hartford Financial Services Group by 18.8% during the first quarter. Verition Fund Management LLC now owns 11,900 shares of the insurance provider’s stock valued at $855,000 after acquiring an additional 1,887 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its stake in The Hartford Financial Services Group by 14.8% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 79,272 shares of the insurance provider’s stock valued at $5,692,000 after acquiring an additional 10,200 shares in the last quarter. Walleye Capital LLC grew its stake in The Hartford Financial Services Group by 331.5% during the first quarter. Walleye Capital LLC now owns 19,760 shares of the insurance provider’s stock valued at $1,419,000 after acquiring an additional 15,181 shares in the last quarter. Toroso Investments LLC grew its stake in The Hartford Financial Services Group by 3.8% during the first quarter. Toroso Investments LLC now owns 4,293 shares of the insurance provider’s stock valued at $308,000 after acquiring an additional 159 shares in the last quarter. Finally, Magnolia Wealth Management LLC purchased a new position in The Hartford Financial Services Group during the first quarter valued at approximately $2,189,000. Hedge funds and other institutional investors own 90.14% of the company’s stock.

The Hartford Financial Services Group Trading Down 0.5 %

NYSE:HIG opened at $65.35 on Monday. The company has a fifty day moving average of $65.46 and a 200 day moving average of $68.27. The Hartford Financial Services Group, Inc. has a 52 week low of $61.59 and a 52 week high of $78.17. 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 firm has a market capitalization of $21.12 billion, a P/E ratio of 10.75, a P/E/G ratio of 1.30 and a beta of 0.91.

The Hartford Financial Services Group (NYSE:HIGGet Rating) last issued its quarterly earnings data on Thursday, July 28th. The insurance provider reported $2.15 EPS for the quarter, topping the consensus estimate 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 during the quarter, compared to analyst estimates of $5.53 billion. During the same period in the prior year, the business earned $2.33 EPS. On average, research analysts predict 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 firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 4th. Investors of record on Thursday, September 1st will be paid a $0.385 dividend. The ex-dividend date of this dividend is Wednesday, August 31st. This represents a $1.54 annualized dividend and a dividend yield of 2.36%. The Hartford Financial Services Group’s payout ratio is 25.33%.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Barclays cut their price target on shares of The Hartford Financial Services Group to $78.00 in a research note on Tuesday, August 9th. Jefferies Financial Group cut their price target 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. 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 note on Friday, August 19th. Royal Bank of Canada cut 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 note on Monday, August 1st. Finally, Citigroup assumed coverage on shares of The Hartford Financial Services Group in a research note on Monday, May 23rd. They issued a “buy” rating and a $81.00 price target for the company. Three research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $81.20.

Insider Buying and Selling

In related news, SVP Scott R. Lewis sold 2,558 shares of the 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 completion of the transaction, the senior vice president now directly owns 18,396 shares in the company, valued at approximately $1,196,475.84. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.80% of the stock is owned by company insiders.

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.

See Also

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

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