Icon Advisers Inc. Co. Invests $944,000 in Hartford Financial Services Group Inc (HIG)

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Icon Advisers Inc. Co. bought a new position in shares of Hartford Financial Services Group Inc (NYSE:HIG) in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 18,900 shares of the insurance provider’s stock, valued at approximately $944,000.

Several other large investors have also bought and sold shares of HIG. Migdal Insurance & Financial Holdings Ltd. increased its position in shares of 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 acquiring an additional 2,056 shares in the last quarter. First Mercantile Trust Co. bought a new stake in shares of Hartford Financial Services Group during the second quarter worth about $133,000. Hartford Financial Management Inc. bought a new stake in shares of Hartford Financial Services Group during the second quarter worth about $143,000. BTIM Corp. bought a new stake in shares of Hartford Financial Services Group during the second quarter worth about $211,000. Finally, Piedmont Investment Advisors LLC bought a new stake in shares of Hartford Financial Services Group during the second quarter worth about $215,000. 89.46% of the stock is owned by institutional investors.

Several equities research analysts have recently commented on the stock. B. Riley boosted their target price on shares of Hartford Financial Services Group from $52.00 to $55.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 7th. Royal Bank of Canada decreased their target price on shares of Hartford Financial Services Group to $58.00 and set an “outperform” rating for the company in a research report on Monday, October 29th. They noted that the move was a valuation call. Zacks Investment Research downgraded shares of Hartford Financial Services Group from a “buy” rating to a “hold” rating in a research report on Thursday, August 2nd. Sandler O’Neill started coverage on shares of Hartford Financial Services Group in a research note on Monday, September 10th. They issued a “buy” rating and a $60.00 target price on the stock. Finally, Credit Suisse Group set a $56.00 target price on shares of Hartford Financial Services Group and gave the company a “hold” rating in a research note on Tuesday, October 9th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and five have issued a buy rating to the company’s stock. Hartford Financial Services Group presently has an average rating of “Hold” and a consensus target price of $57.82.

Shares of HIG stock opened at $46.59 on Friday. The company has a market cap of $16.84 billion, a P/E ratio of 17.00, a price-to-earnings-growth ratio of 1.04 and a beta of 0.94. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.29 and a current ratio of 0.29. Hartford Financial Services Group Inc has a 12 month low of $43.31 and a 12 month high of $59.20.

Hartford Financial Services Group (NYSE:HIG) last announced its quarterly earnings results on Thursday, October 25th. The insurance provider reported $1.15 EPS for the quarter, beating the Zacks’ consensus estimate of $1.04 by $0.11. The company had revenue of $4.80 billion for the quarter. Hartford Financial Services Group had a negative net margin of 11.09% and a positive return on equity of 12.20%. As a group, research analysts forecast that Hartford Financial Services Group Inc will post 4.73 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 2nd. Investors of record on Monday, December 3rd will be paid a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.58%. The ex-dividend date is Friday, November 30th. Hartford Financial Services Group’s payout ratio is currently 43.80%.

In related news, EVP David C. Robinson sold 2,395 shares of the company’s stock in a transaction that occurred on Wednesday, October 31st. The shares were sold at an average price of $45.62, for a total transaction of $109,259.90. Following the sale, the executive vice president now directly owns 19,003 shares in the company, valued at approximately $866,916.86. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 1.50% of the company’s stock.

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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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