Wilkins Investment Counsel Inc. trimmed its position in shares of Hartford Financial Services Group Inc (NYSE:HIG) by 9.6% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 9,400 shares of the insurance provider’s stock after selling 1,000 shares during the period. Wilkins Investment Counsel Inc.’s holdings in Hartford Financial Services Group were worth $529,000 at the end of the most recent quarter.
A number of other institutional investors have also recently made changes to their positions in HIG. First Manhattan Co. grew its stake in Hartford Financial Services Group by 103.2% during the fourth quarter. First Manhattan Co. now owns 1,969 shares of the insurance provider’s stock worth $110,000 after buying an additional 1,000 shares in the last quarter. Cerebellum GP LLC acquired a new stake in Hartford Financial Services Group during the fourth quarter worth about $129,000. Meyer Handelman Co. acquired a new stake in Hartford Financial Services Group during the fourth quarter worth about $203,000. Wesbanco Bank Inc. acquired a new stake in Hartford Financial Services Group during the third quarter worth about $206,000. Finally, Tdam USA Inc. acquired a new stake in Hartford Financial Services Group during the third quarter worth about $208,000. Hedge funds and other institutional investors own 87.59% of the company’s stock.
A number of brokerages have issued reports on HIG. ValuEngine upgraded shares of Hartford Financial Services Group from a “hold” rating to a “buy” rating in a research note on Friday, February 2nd. Goldman Sachs Group initiated coverage on shares of Hartford Financial Services Group in a research note on Monday, December 4th. They set a “neutral” rating and a $59.00 price objective on the stock. Wells Fargo & Co set a $55.00 target price on shares of Hartford Financial Services Group and gave the stock a “hold” rating in a report on Monday, December 4th. Citigroup initiated coverage on shares of Hartford Financial Services Group in a report on Wednesday, December 20th. They issued a “neutral” rating and a $59.00 target price for the company. Finally, Zacks Investment Research raised shares of Hartford Financial Services Group from a “sell” rating to a “hold” rating in a report on Wednesday, February 7th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and eight have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $59.00.
Hartford Financial Services Group (NYSE:HIG) last posted its earnings results on Thursday, February 8th. The insurance provider reported $0.81 EPS for the quarter, topping analysts’ consensus estimates of $0.77 by $0.04. The firm had revenue of $4.54 billion during the quarter, compared to analysts’ expectations of $4.54 billion. Hartford Financial Services Group had a negative net margin of 16.79% and a positive return on equity of 7.89%. The business’s revenue for the quarter was up 14.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.08 earnings per share. sell-side analysts forecast that Hartford Financial Services Group Inc will post 4.39 EPS for the current fiscal year.
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Hartford Financial Services Group Profile
The Hartford Financial Services Group, Inc is a holding company for insurance and financial services subsidiaries. The Company’s segments include Commercial Lines, which provides workers’ compensation, property, automobile, marine, livestock, liability and umbrella coverages primarily throughout the United States; Personal Lines, which provides automobile, homeowners and personal umbrella coverages to individuals across the United States; Group Benefits, which provides group life, accident and disability coverage, and other products and services; Property & Casualty Other Operations, which includes certain property and casualty operations; Mutual Funds, which provides investment management, administration, product distribution and related services to investors; Talcott Resolution, which consists of the run-off of the Company’s the United States individual and institutional annuity, and Private Placement Life Insurance (PPLI) businesses, and Corporate.
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