Hartford Financial Services Group Inc (HIG) Stake Decreased by Retirement Systems of Alabama

Retirement Systems of Alabama lowered its holdings in Hartford Financial Services Group Inc (NYSE:HIG) by 1.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 388,551 shares of the insurance provider’s stock after selling 3,872 shares during the quarter. Retirement Systems of Alabama owned 0.11% of Hartford Financial Services Group worth $21,868,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also bought and sold shares of the company. First Manhattan Co. increased its position 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 valued at $110,000 after acquiring an additional 1,000 shares during the last quarter. Cerebellum GP LLC purchased a new stake in Hartford Financial Services Group during the fourth quarter valued at $129,000. Meyer Handelman Co. purchased a new stake in Hartford Financial Services Group during the fourth quarter valued at $203,000. Wesbanco Bank Inc. purchased a new stake in Hartford Financial Services Group during the third quarter valued at $206,000. Finally, Tdam USA Inc. purchased a new stake in Hartford Financial Services Group during the third quarter valued at $208,000. Hedge funds and other institutional investors own 87.59% of the company’s stock.

Shares of Hartford Financial Services Group Inc (HIG) opened at $54.46 on Friday. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.27 and a quick ratio of 0.40. The company has a market capitalization of $19,456.30, a PE ratio of 15.81, a price-to-earnings-growth ratio of 1.31 and a beta of 0.93. Hartford Financial Services Group Inc has a 1 year low of $46.35 and a 1 year high of $59.20.

Hartford Financial Services Group (NYSE:HIG) last issued its quarterly 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 business had revenue of $4.54 billion during the quarter, compared to analysts’ expectations of $4.54 billion. Hartford Financial Services Group had a positive return on equity of 7.89% and a negative net margin of 16.79%. The business’s quarterly revenue was up 14.1% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.08 earnings per share. sell-side analysts expect that Hartford Financial Services Group Inc will post 4.39 EPS for the current year.

HIG has been the subject of a number of research reports. Goldman Sachs Group initiated coverage on Hartford Financial Services Group in a research report on Monday, December 4th. They set a “neutral” rating and a $59.00 price objective for the company. UBS Group upped their price objective on Hartford Financial Services Group from $58.00 to $60.00 and gave the company a “buy” rating in a research report on Tuesday, October 24th. Wells Fargo & Co set a $55.00 price objective on Hartford Financial Services Group and gave the company a “hold” rating in a research report on Thursday, November 16th. ValuEngine upgraded Hartford Financial Services Group from a “hold” rating to a “buy” rating in a research report on Friday, February 2nd. Finally, Zacks Investment Research cut Hartford Financial Services Group from a “hold” rating to a “sell” rating in a research report on Thursday. One investment analyst has rated the stock with a sell rating, six have given a hold rating and eight have given a buy rating to the company. Hartford Financial Services Group presently has a consensus rating of “Hold” and a consensus target price of $59.00.

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

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