CIBC Asset Management Inc Purchases 26,521 Shares of The Hartford Financial Services Group, Inc. (NYSE:HIG)

CIBC Asset Management Inc lifted its position in The Hartford Financial Services Group, Inc. (NYSE:HIGGet Rating) by 80.7% in the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 59,374 shares of the insurance provider’s stock after acquiring an additional 26,521 shares during the period. CIBC Asset Management Inc’s holdings in The Hartford Financial Services Group were worth $4,264,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Nuveen Asset Management LLC raised its position in shares of The Hartford Financial Services Group by 4.0% in the 4th quarter. Nuveen Asset Management LLC now owns 2,435,271 shares of the insurance provider’s stock worth $168,131,000 after acquiring an additional 94,622 shares in the last quarter. Steward Partners Investment Advisory LLC increased its position in The Hartford Financial Services Group by 2.5% during the 1st quarter. Steward Partners Investment Advisory LLC now owns 6,725 shares of the insurance provider’s stock valued at $483,000 after buying an additional 162 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec bought a new position in The Hartford Financial Services Group during the 4th quarter valued at approximately $1,464,000. HHM Wealth Advisors LLC bought a new position in The Hartford Financial Services Group during the 1st quarter valued at approximately $73,000. Finally, WINTON GROUP Ltd increased its position in The Hartford Financial Services Group by 104.7% during the 4th quarter. WINTON GROUP Ltd now owns 20,842 shares of the insurance provider’s stock valued at $1,439,000 after buying an additional 10,660 shares in the last quarter. Institutional investors own 93.01% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on HIG shares. Credit Suisse Group raised their price objective on The Hartford Financial Services Group from $93.00 to $104.00 and gave the company an “outperform” rating in a research report on Friday, June 3rd. Citigroup began coverage on The Hartford Financial Services Group in a research report on Monday, May 23rd. They set a “buy” rating and a $81.00 price objective for the company. Royal Bank of Canada cut their target price on The Hartford Financial Services Group from $77.00 to $71.00 and set a “sector perform” rating on the stock in a research note on Monday, August 1st. Morgan Stanley cut their target price on The Hartford Financial Services Group from $77.00 to $73.00 and set an “equal weight” rating on the stock in a research note on Monday, May 23rd. Finally, Raymond James increased their target price on The Hartford Financial Services Group from $80.00 to $85.00 in a research note on Tuesday, May 3rd. Four equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, The Hartford Financial Services Group has an average rating of “Moderate Buy” and a consensus target price of $80.27.

The Hartford Financial Services Group Stock Performance

HIG stock opened at $64.16 on Friday. The company has a market cap of $20.73 billion, a P/E ratio of 10.55, a price-to-earnings-growth ratio of 1.26 and a beta of 0.92. The Hartford Financial Services Group, Inc. has a 1 year low of $61.59 and a 1 year high of $78.17. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.30 and a quick ratio of 0.30. The stock’s fifty day moving average price is $65.93 and its 200-day moving average price is $69.11.

The Hartford Financial Services Group (NYSE:HIGGet Rating) last released its quarterly earnings results on Thursday, July 28th. The insurance provider reported $2.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.52 by $0.63. The firm had revenue of $3.77 billion for the quarter, compared to the consensus estimate of $5.53 billion. The Hartford Financial Services Group had a return on equity of 15.03% and a net margin of 9.42%. During the same period last year, the business posted $2.33 EPS. On average, equities analysts forecast that The Hartford Financial Services Group, Inc. will post 7.15 earnings per share for the current year.

The Hartford Financial Services Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 4th. Investors of record on Thursday, September 1st will be given a dividend of $0.385 per share. The ex-dividend date of this dividend is Wednesday, August 31st. This represents a $1.54 annualized dividend and a yield of 2.40%. The Hartford Financial Services Group’s dividend payout ratio (DPR) is presently 25.33%.

The Hartford Financial Services Group Company Profile

(Get Rating)

The Hartford Financial Services Group, Inc provides insurance and financial services to individual and business customers in the United States, the United Kingdom, and internationally. Its Commercial Lines segment offers workers' compensation, property, automobile, liability, umbrella, bond, marine, livestock, and reinsurance; and customized insurance products and risk management services, including professional liability, bond, surety, and specialty casualty coverages through regional offices, branches, sales and policyholder service centers, independent retail agents and brokers, wholesale agents, and reinsurance brokers.

Further Reading

Want to see what other hedge funds are holding HIG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for The Hartford Financial Services Group, Inc. (NYSE:HIGGet Rating).

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

Receive News & Ratings for The Hartford Financial Services Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for The Hartford Financial Services Group and related companies with MarketBeat.com's FREE daily email newsletter.