Dai Ichi Life Insurance Company Ltd lowered its holdings in Hartford Financial Services Group Inc (NYSE:HIG) by 11.8% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 62,603 shares of the insurance provider’s stock after selling 8,400 shares during the period. Dai Ichi Life Insurance Company Ltd’s holdings in Hartford Financial Services Group were worth $3,201,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Unigestion Holding SA bought a new position in Hartford Financial Services Group in the second quarter worth about $20,503,000. PGGM Investments increased its stake in shares of Hartford Financial Services Group by 7.8% in the second quarter. PGGM Investments now owns 1,195,414 shares of the insurance provider’s stock valued at $61,122,000 after purchasing an additional 86,414 shares during the period. State Treasurer State of Michigan increased its stake in shares of Hartford Financial Services Group by 1.0% in the second quarter. State Treasurer State of Michigan now owns 106,075 shares of the insurance provider’s stock valued at $5,424,000 after purchasing an additional 1,000 shares during the period. Bank of Montreal Can acquired a new stake in shares of Hartford Financial Services Group in the second quarter valued at approximately $13,272,000. Finally, Stephens Inc. AR increased its stake in shares of Hartford Financial Services Group by 7.0% in the second quarter. Stephens Inc. AR now owns 108,571 shares of the insurance provider’s stock valued at $5,551,000 after purchasing an additional 7,095 shares during the period. 89.46% of the stock is currently owned by hedge funds and other institutional investors.

In related news, CFO Beth Ann Bombara sold 23,906 shares of the firm’s stock in a transaction that occurred on Wednesday, August 1st. The shares were sold at an average price of $52.63, for a total transaction of $1,258,172.78. Following the transaction, the chief financial officer now owns 52,291 shares in the company, valued at $2,752,075.33. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP David C. Robinson sold 2,395 shares of the firm’s stock in a transaction that occurred on Tuesday, July 31st. The shares were sold at an average price of $52.88, for a total transaction of $126,647.60. Following the transaction, the executive vice president now owns 21,398 shares in the company, valued at approximately $1,131,526.24. The disclosure for this sale can be found here. 1.50% of the stock is owned by company insiders.

NYSE HIG opened at $50.44 on Wednesday. Hartford Financial Services Group Inc has a 12 month low of $49.67 and a 12 month high of $59.20. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 0.34. The company has a market cap of $18.05 billion, a P/E ratio of 13.22, a P/E/G ratio of 1.12 and a beta of 0.94.

Hartford Financial Services Group (NYSE:HIG) last posted its quarterly earnings data on Thursday, July 26th. The insurance provider reported $1.13 EPS for the quarter, beating the Zacks’ consensus estimate of $1.02 by $0.11. Hartford Financial Services Group had a negative net margin of 12.24% and a positive return on equity of 9.84%. The business had revenue of $4.79 billion for the quarter, compared to analyst estimates of $4.63 billion. During the same quarter last year, the business earned $0.81 earnings per share. The business’s revenue for the quarter was up 13.6% on a year-over-year basis. sell-side analysts predict that Hartford Financial Services Group Inc will post 4.75 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 1st. Investors of record on Tuesday, September 4th 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 2.38%. The ex-dividend date of this dividend is Friday, August 31st. This is a positive change from Hartford Financial Services Group’s previous quarterly dividend of $0.25. Hartford Financial Services Group’s dividend payout ratio (DPR) is currently 43.80%.

HIG has been the topic of several analyst reports. Evercore ISI initiated coverage on shares of Hartford Financial Services Group in a research note on Thursday, June 7th. They issued an “inline” rating and a $57.00 price target on the stock. Zacks Investment Research upgraded shares of Hartford Financial Services Group from a “hold” rating to a “buy” rating and set a $57.00 price target on the stock in a research note on Monday, July 2nd. TheStreet upgraded shares of Hartford Financial Services Group from a “c” rating to a “b” rating in a research note on Thursday, July 26th. ValuEngine lowered shares of Hartford Financial Services Group from a “hold” rating to a “sell” rating in a research note on Thursday, August 2nd. Finally, Credit Suisse Group initiated coverage on shares of Hartford Financial Services Group in a research note on Tuesday, August 7th. They issued a “neutral” rating and a $57.00 price target on the stock. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and five have given a buy rating to the stock. Hartford Financial Services Group presently has an average rating of “Hold” and an average price target of $58.73.

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. 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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