Renaissance Technologies LLC Decreases Position in Hartford Financial Services Group Inc (NYSE:HIG)

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Renaissance Technologies LLC trimmed its position in shares of Hartford Financial Services Group Inc (NYSE:HIG) by 59.5% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 281,022 shares of the insurance provider’s stock after selling 413,500 shares during the quarter. Renaissance Technologies LLC owned approximately 0.08% of Hartford Financial Services Group worth $15,659,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Milestone Group Inc. raised its holdings in shares of Hartford Financial Services Group by 0.7% in the second quarter. Milestone Group Inc. now owns 26,353 shares of the insurance provider’s stock worth $1,468,000 after acquiring an additional 176 shares during the last quarter. Moors & Cabot Inc. raised its holdings in shares of Hartford Financial Services Group by 1.6% in the second quarter. Moors & Cabot Inc. now owns 14,247 shares of the insurance provider’s stock worth $798,000 after acquiring an additional 225 shares during the last quarter. Pinnacle Associates Ltd. raised its holdings in shares of Hartford Financial Services Group by 1.8% in the second quarter. Pinnacle Associates Ltd. now owns 14,015 shares of the insurance provider’s stock worth $781,000 after acquiring an additional 252 shares during the last quarter. Parallel Advisors LLC raised its holdings in shares of Hartford Financial Services Group by 19.6% in the second quarter. Parallel Advisors LLC now owns 1,559 shares of the insurance provider’s stock worth $87,000 after acquiring an additional 256 shares during the last quarter. Finally, Norinchukin Bank The raised its holdings in shares of Hartford Financial Services Group by 1.1% in the first quarter. Norinchukin Bank The now owns 28,382 shares of the insurance provider’s stock worth $1,411,000 after acquiring an additional 310 shares during the last quarter. Institutional investors own 91.43% of the company’s stock.

HIG has been the subject of a number of analyst reports. Barclays set a $70.00 price target on Hartford Financial Services Group and gave the stock a “buy” rating in a report on Monday, August 12th. Goldman Sachs Group raised Hartford Financial Services Group from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $53.00 to $64.00 in a report on Wednesday, May 29th. Buckingham Research boosted their price target on Hartford Financial Services Group from $60.00 to $63.00 and gave the stock a “buy” rating in a report on Friday, July 19th. UBS Group boosted their price target on Hartford Financial Services Group from $61.00 to $65.00 and gave the stock a “buy” rating in a report on Wednesday, July 10th. Finally, ValuEngine cut Hartford Financial Services Group from a “hold” rating to a “sell” rating in a report on Tuesday, September 10th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and ten have given a buy rating to the company. Hartford Financial Services Group presently has an average rating of “Buy” and an average target price of $62.08.

Hartford Financial Services Group stock traded up $0.33 during trading on Thursday, hitting $61.15. The company’s stock had a trading volume of 210,129 shares, compared to its average volume of 1,618,766. The stock has a market capitalization of $21.71 billion, a price-to-earnings ratio of 14.12, a P/E/G ratio of 1.21 and a beta of 0.64. The stock’s fifty day moving average is $58.73 and its 200 day moving average is $54.34. Hartford Financial Services Group Inc has a 1-year low of $40.54 and a 1-year high of $60.83. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.28 and a current ratio of 0.28.

Hartford Financial Services Group (NYSE:HIG) last released its earnings results on Thursday, August 1st. The insurance provider reported $1.33 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.11 by $0.22. The firm had revenue of $5.09 billion during the quarter, compared to analyst estimates of $5.07 billion. Hartford Financial Services Group had a return on equity of 12.44% and a net margin of 8.36%. The business’s quarterly revenue was up 6.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.13 earnings per share. On average, research analysts anticipate that Hartford Financial Services Group Inc will post 5.24 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Tuesday, September 3rd will be paid a $0.30 dividend. The ex-dividend date of this dividend is Friday, August 30th. This represents a $1.20 annualized dividend and a yield of 1.96%. Hartford Financial Services Group’s payout ratio is currently 27.71%.

In other Hartford Financial Services Group news, insider Brion S. Johnson sold 32,094 shares of the company’s stock in a transaction dated Monday, June 24th. The stock was sold at an average price of $55.72, for a total transaction of $1,788,277.68. Following the completion of the sale, the insider now directly owns 51,499 shares in the company, valued at $2,869,524.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Christopher Swift sold 24,279 shares of the company’s stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $60.32, for a total value of $1,464,509.28. Following the sale, the chief executive officer now owns 211,218 shares of the company’s stock, valued at $12,740,669.76. The disclosure for this sale can be found here. Insiders sold 92,011 shares of company stock valued at $5,341,602 over the last quarter. Insiders own 1.70% of the company’s stock.

Hartford Financial Services Group Profile

The Hartford Financial Services Group, Inc, through its subsidiaries, provides insurance and financial services to individual and business customers in the United States. Its Commercial Lines segment offers workers' compensation, property, automobile, marine, livestock, liability, and umbrella coverages; and customized insurance products and risk management services, including professional liability, bond, surety, and specialty casualty coverages.

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

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