Foundry Partners LLC grew its stake in shares of Hartford Financial Services Group Inc (NYSE:HIG) by 0.5% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 240,456 shares of the insurance provider’s stock after acquiring an additional 1,150 shares during the period. Foundry Partners LLC’s holdings in Hartford Financial Services Group were worth $11,955,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of HIG. Founders Capital Management bought a new stake in shares of Hartford Financial Services Group during the fourth quarter valued at approximately $27,000. Dubuque Bank & Trust Co. bought a new stake in shares of Hartford Financial Services Group during the fourth quarter valued at approximately $29,000. Pinnacle Bank bought a new stake in shares of Hartford Financial Services Group during the fourth quarter valued at approximately $35,000. Rational Advisors LLC raised its stake in shares of Hartford Financial Services Group by 87.8% during the fourth quarter. Rational Advisors LLC now owns 875 shares of the insurance provider’s stock valued at $39,000 after acquiring an additional 409 shares in the last quarter. Finally, Riverview Trust Co raised its stake in shares of Hartford Financial Services Group by 55.8% during the first quarter. Riverview Trust Co now owns 849 shares of the insurance provider’s stock valued at $42,000 after acquiring an additional 304 shares in the last quarter. 91.56% of the stock is owned by hedge funds and other institutional investors.

HIG stock traded down $0.20 during trading on Monday, hitting $50.74. 51,026 shares of the company’s stock traded hands, compared to its average volume of 1,766,157. The firm has a market cap of $18.30 billion, a price-to-earnings ratio of 11.70, a PEG ratio of 1.08 and a beta of 0.72. The company has a quick ratio of 0.32, a current ratio of 0.32 and a debt-to-equity ratio of 0.33. Hartford Financial Services Group Inc has a 1 year low of $40.54 and a 1 year high of $55.16.

Hartford Financial Services Group (NYSE:HIG) last issued its quarterly earnings data on Monday, February 4th. The insurance provider reported $0.78 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.65 by $0.13. The company had revenue of $4.63 billion for the quarter, compared to analyst estimates of $4.73 billion. Hartford Financial Services Group had a net margin of 9.53% and a return on equity of 12.31%. Hartford Financial Services Group’s revenue was up 1.0% compared to the same quarter last year. During the same period last year, the company posted $0.81 earnings per share. Analysts anticipate that Hartford Financial Services Group Inc will post 4.98 EPS for the current fiscal year.

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

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Monday, March 4th were issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 2.36%. The ex-dividend date of this dividend was Friday, March 1st. Hartford Financial Services Group’s payout ratio is 27.71%.

In other Hartford Financial Services Group news, EVP David C. Robinson sold 2,392 shares of Hartford Financial Services Group stock in a transaction on Thursday, January 31st. The shares were sold at an average price of $46.35, for a total value of $110,869.20. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, EVP Robert W. Paiano sold 5,000 shares of Hartford Financial Services Group 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 completion of the transaction, the executive vice president now directly owns 33,342 shares in the company, valued at $1,667,100. The disclosure for this sale can be found here. 1.50% of the stock is currently owned by insiders.

Several research firms have recently weighed in on HIG. Barclays lifted their price target on shares of Hartford Financial Services Group from $55.00 to $57.00 and gave the company an “overweight” rating in a research note on Monday, April 1st. ValuEngine raised shares of Hartford Financial Services Group from a “sell” rating to a “hold” rating in a research note on Friday, February 8th. Compass Point assumed coverage on shares of Hartford Financial Services Group in a research note on Tuesday, January 15th. They set a “buy” rating and a $58.00 price target for the company. Finally, TheStreet raised shares of Hartford Financial Services Group from a “c+” rating to a “b-” rating in a report on Thursday, March 14th. Six investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Hartford Financial Services Group presently has a consensus rating of “Buy” and an average target price of $56.77.

TRADEMARK VIOLATION NOTICE: “Hartford Financial Services Group Inc (HIG) Shares Bought by Foundry Partners LLC” was posted by Watch List News and is owned by of Watch List News. If you are viewing this story on another site, it was copied illegally and republished in violation of US and international trademark & copyright law. The correct version of this story can be read at https://www.watchlistnews.com/hartford-financial-services-group-inc-hig-shares-bought-by-foundry-partners-llc/2981406.html.

About Hartford Financial Services Group

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.

Read More: Why do companies issue convertible shares?

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

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

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