Squarepoint Ops LLC Reduces Stock Position in Hartford Financial Services Group Inc (NYSE:HIG)

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Squarepoint Ops LLC decreased its position in Hartford Financial Services Group Inc (NYSE:HIG) by 36.1% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 123,394 shares of the insurance provider’s stock after selling 69,782 shares during the quarter. Squarepoint Ops LLC’s holdings in Hartford Financial Services Group were worth $7,479,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in the stock. Prime Capital Investment Advisors LLC acquired a new stake in Hartford Financial Services Group during the third quarter worth approximately $25,000. Virtus ETF Advisers LLC purchased a new position in shares of Hartford Financial Services Group during the 2nd quarter worth $26,000. Rational Advisors LLC lifted its stake in shares of Hartford Financial Services Group by 950.0% during the 2nd quarter. Rational Advisors LLC now owns 504 shares of the insurance provider’s stock worth $28,000 after purchasing an additional 456 shares during the period. Venturi Wealth Management LLC purchased a new position in shares of Hartford Financial Services Group during the 3rd quarter worth $28,000. Finally, KCS Wealth Advisory acquired a new stake in shares of Hartford Financial Services Group during the third quarter worth $32,000. 90.27% of the stock is owned by hedge funds and other institutional investors.

HIG has been the subject of a number of recent analyst reports. Zacks Investment Research raised Hartford Financial Services Group from a “hold” rating to a “buy” rating and set a $64.00 price objective for the company in a research report on Thursday, November 7th. Barclays set a $70.00 target price on Hartford Financial Services Group and gave the stock a “buy” rating in a research report on Monday, August 12th. Morgan Stanley raised their price target on Hartford Financial Services Group from $58.00 to $61.00 and gave the stock an “equal weight” rating in a research note on Thursday, August 15th. Royal Bank of Canada lifted their price target on Hartford Financial Services Group from $68.00 to $70.00 and gave the company an “outperform” rating in a report on Wednesday, November 6th. Finally, Evercore ISI raised shares of Hartford Financial Services Group from an “in-line” rating to an “outperform” rating in a research note on Wednesday, October 16th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and twelve have assigned a buy rating to the company’s stock. Hartford Financial Services Group presently has an average rating of “Buy” and a consensus price target of $63.75.

Shares of HIG opened at $61.45 on Tuesday. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 0.28. The firm has a market capitalization of $22.30 billion, a P/E ratio of 14.19, a price-to-earnings-growth ratio of 1.18 and a beta of 0.64. The stock’s fifty day simple moving average is $59.94 and its 200 day simple moving average is $57.89. Hartford Financial Services Group Inc has a twelve month low of $40.54 and a twelve month high of $62.75.

Hartford Financial Services Group (NYSE:HIG) last issued its earnings results on Monday, November 4th. The insurance provider reported $1.50 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.24 by $0.26. The firm had revenue of $5.35 billion for the quarter, compared to analysts’ expectations of $5.22 billion. Hartford Financial Services Group had a return on equity of 12.69% and a net margin of 8.66%. The firm’s revenue for the quarter was up 10.4% compared to the same quarter last year. During the same quarter last year, the firm earned $1.15 earnings per share. Sell-side analysts predict that Hartford Financial Services Group Inc will post 5.5 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Monday, December 2nd will be issued a $0.30 dividend. The ex-dividend date of this dividend is Friday, November 29th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.95%. Hartford Financial Services Group’s dividend payout ratio (DPR) is 27.71%.

In other news, EVP David C. Robinson sold 6,978 shares of the business’s stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $60.04, for a total transaction of $418,959.12. Following the completion of the sale, the executive vice president now owns 22,040 shares in the company, valued at approximately $1,323,281.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Robert W. Paiano sold 3,011 shares of the stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $59.26, for a total transaction of $178,431.86. Following the sale, the executive vice president now directly owns 31,367 shares of the company’s stock, valued at approximately $1,858,808.42. The disclosure for this sale can be found here. Insiders sold a total of 112,071 shares of company stock worth $6,807,896 over the last ninety days. Corporate insiders own 1.70% of the company’s stock.

Hartford Financial Services Group Company 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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