Texas Permanent School Fund Sells 6,935 Shares of Hartford Financial Services Group Inc (HIG)

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Texas Permanent School Fund lessened its holdings in shares of Hartford Financial Services Group Inc (NYSE:HIG) by 7.9% during the third quarter, HoldingsChannel.com reports. The firm owned 80,461 shares of the insurance provider’s stock after selling 6,935 shares during the quarter. Texas Permanent School Fund’s holdings in Hartford Financial Services Group were worth $4,020,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the company. Migdal Insurance & Financial Holdings Ltd. raised its stake in Hartford Financial Services Group by 8,566.7% during the second quarter. Migdal Insurance & Financial Holdings Ltd. now owns 2,080 shares of the insurance provider’s stock worth $106,000 after buying an additional 2,056 shares during the last quarter. First Mercantile Trust Co. bought a new position in Hartford Financial Services Group during the second quarter worth $133,000. Hartford Financial Management Inc. bought a new position in Hartford Financial Services Group during the second quarter worth $143,000. BTIM Corp. bought a new position in Hartford Financial Services Group during the second quarter worth $211,000. Finally, Piedmont Investment Advisors LLC bought a new position in Hartford Financial Services Group during the second quarter worth $215,000. Institutional investors own 89.54% of the company’s stock.

In other Hartford Financial Services Group news, CFO Beth Ann Bombara sold 23,906 shares of Hartford Financial Services Group stock in a transaction on Wednesday, August 1st. The shares were sold at an average price of $52.63, for a total value of $1,258,172.78. Following the completion of the sale, the chief financial officer now directly owns 52,291 shares of the company’s stock, valued at $2,752,075.33. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 1.50% of the company’s stock.

HIG opened at $44.56 on Tuesday. Hartford Financial Services Group Inc has a 1-year low of $43.31 and a 1-year high of $59.20. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 0.33. The firm has a market capitalization of $16.18 billion, a price-to-earnings ratio of 16.26, a P/E/G ratio of 1.02 and a beta of 0.93.

Hartford Financial Services Group (NYSE:HIG) last posted its quarterly earnings results on Thursday, October 25th. The insurance provider reported $1.15 earnings per share for the quarter, beating the consensus estimate of $1.04 by $0.11. Hartford Financial Services Group had a negative net margin of 11.09% and a positive return on equity of 12.20%. The firm had revenue of $4.80 billion during the quarter. On average, equities analysts predict that Hartford Financial Services Group Inc will post 4.67 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 2nd. Shareholders of record on Monday, December 3rd will be paid a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 2.69%. The ex-dividend date is Friday, November 30th. Hartford Financial Services Group’s dividend payout ratio (DPR) is currently 43.80%.

A number of equities analysts recently weighed in on HIG shares. Zacks Investment Research raised shares of Hartford Financial Services Group from a “hold” rating to a “buy” rating and set a $59.00 target price for the company in a research note on Wednesday, August 1st. Bank of America raised shares of Hartford Financial Services Group from a “neutral” rating to a “buy” rating and set a $59.00 target price for the company in a research note on Tuesday, October 9th. They noted that the move was a valuation call. Credit Suisse Group started coverage on shares of Hartford Financial Services Group in a research note on Tuesday, August 7th. They set a “neutral” rating and a $57.00 target price for the company. ValuEngine downgraded shares of Hartford Financial Services Group from a “hold” rating to a “sell” rating in a research note on Thursday, August 2nd. Finally, Buckingham Research set a $58.00 target price on shares of Hartford Financial Services Group and gave the stock a “buy” rating in a research note on Monday. One investment analyst has rated the stock with a sell rating, five have given a hold rating and six have issued a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $58.17.

About Hartford Financial Services Group

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.

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

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