Penserra Capital Management LLC cut its holdings in Hartford Financial Services Group Inc (NYSE:HIG) by 22.5% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 21,407 shares of the insurance provider’s stock after selling 6,208 shares during the quarter. Penserra Capital Management LLC’s holdings in Hartford Financial Services Group were worth $1,119,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Vanguard Group Inc lifted its stake in Hartford Financial Services Group by 1.2% in the third quarter. Vanguard Group Inc now owns 37,098,691 shares of the insurance provider’s stock valued at $1,853,451,000 after acquiring an additional 455,263 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in Hartford Financial Services Group by 12.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 5,109,074 shares of the insurance provider’s stock valued at $227,084,000 after acquiring an additional 565,189 shares during the last quarter. Diamond Hill Capital Management Inc. lifted its stake in Hartford Financial Services Group by 20.7% in the fourth quarter. Diamond Hill Capital Management Inc. now owns 4,653,359 shares of the insurance provider’s stock valued at $206,842,000 after acquiring an additional 797,185 shares during the last quarter. Geode Capital Management LLC lifted its stake in Hartford Financial Services Group by 8.3% in the fourth quarter. Geode Capital Management LLC now owns 4,622,774 shares of the insurance provider’s stock valued at $205,120,000 after acquiring an additional 353,601 shares during the last quarter. Finally, D. E. Shaw & Co. Inc. lifted its stake in Hartford Financial Services Group by 36.7% in the fourth quarter. D. E. Shaw & Co. Inc. now owns 4,066,068 shares of the insurance provider’s stock valued at $180,736,000 after acquiring an additional 1,091,969 shares during the last quarter. Hedge funds and other institutional investors own 89.07% of the company’s stock.

In related news, insider Martha Gervasi sold 5,039 shares of the business’s stock in a transaction on Tuesday, May 14th. The shares were sold at an average price of $52.87, for a total transaction of $266,411.93. Following the transaction, the insider now owns 15,210 shares of the company’s stock, valued at $804,152.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Robert W. Paiano sold 5,000 shares of the business’s stock in a transaction on Monday, April 1st. The stock was sold at an average price of $50.00, for a total transaction of $250,000.00. Following the transaction, the executive vice president now directly owns 33,342 shares in the company, valued at approximately $1,667,100. The disclosure for this sale can be found here. Insiders have sold 15,039 shares of company stock worth $778,412 in the last ninety days. 1.70% of the stock is currently owned by insiders.

HIG has been the subject of a number of analyst reports. Barclays lifted their target price on shares of Hartford Financial Services Group from $57.00 to $62.00 and gave the company an “overweight” rating in a research note on Wednesday. ValuEngine cut shares of Hartford Financial Services Group from a “hold” rating to a “sell” rating in a research note on Tuesday, March 5th. TheStreet upgraded shares of Hartford Financial Services Group from a “c+” rating to a “b-” rating in a research note on Thursday, March 14th. Zacks Investment Research upgraded 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 Friday, May 17th. Finally, Wells Fargo & Co reiterated a “hold” rating and issued a $56.00 target price on shares of Hartford Financial Services Group in a research note on Thursday, May 2nd. Five analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $57.67.

Shares of Hartford Financial Services Group stock opened at $53.24 on Friday. The company has a quick ratio of 0.32, a current ratio of 0.32 and a debt-to-equity ratio of 0.27. Hartford Financial Services Group Inc has a 1-year low of $40.54 and a 1-year high of $54.28. The firm has a market capitalization of $19.25 billion, a PE ratio of 12.30, a PEG ratio of 1.10 and a beta of 0.73.

Hartford Financial Services Group (NYSE:HIG) last announced its earnings results on Wednesday, May 1st. The insurance provider reported $1.39 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.24 by $0.15. Hartford Financial Services Group had a net margin of 9.58% and a return on equity of 12.46%. The business had revenue of $4.94 billion for the quarter, compared to analyst estimates of $4.84 billion. During the same quarter in the previous year, the firm posted $1.27 earnings per share. Hartford Financial Services Group’s revenue was up 5.3% compared to the same quarter last year. As a group, analysts anticipate that Hartford Financial Services Group Inc will post 5.12 EPS for the current year.

Hartford Financial Services Group declared that its Board of Directors has initiated a share buyback program on Monday, February 4th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the insurance provider to buy up to 5.9% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s management believes its stock is undervalued.

The business also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Monday, June 3rd will be given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 2.25%. The ex-dividend date of this dividend is Friday, May 31st. Hartford Financial Services Group’s dividend payout ratio (DPR) is currently 27.71%.

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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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