Municipal Employees Retirement System of Michigan Has $522,000 Holdings in Hartford Financial Services Group Inc (HIG)

Municipal Employees Retirement System of Michigan reduced its stake in shares of Hartford Financial Services Group Inc (NYSE:HIG) by 24.1% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 9,410 shares of the insurance provider’s stock after selling 2,990 shares during the quarter. Municipal Employees Retirement System of Michigan’s holdings in Hartford Financial Services Group were worth $522,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of HIG. Dupont Capital Management Corp purchased a new stake in shares of Hartford Financial Services Group in the second quarter valued at approximately $119,000. Sun Life Financial INC boosted its holdings in shares of Hartford Financial Services Group by 26,810.0% in the second quarter. Sun Life Financial INC now owns 2,691 shares of the insurance provider’s stock valued at $141,000 after purchasing an additional 2,681 shares during the period. Howard Hughes Medical Institute purchased a new stake in shares of Hartford Financial Services Group in the second quarter valued at approximately $148,000. Wesbanco Bank Inc. purchased a new stake in shares of Hartford Financial Services Group in the third quarter valued at approximately $206,000. Finally, ARGI Investment Services LLC purchased a new stake in shares of Hartford Financial Services Group in the second quarter valued at approximately $210,000. 88.62% of the stock is currently owned by institutional investors.

Shares of Hartford Financial Services Group Inc (NYSE:HIG) traded down $0.93 during mid-day trading on Tuesday, hitting $56.50. The stock had a trading volume of 4,029,300 shares, compared to its average volume of 2,341,259. The firm has a market capitalization of $20,486.35, a P/E ratio of 15.44, a PEG ratio of 1.67 and a beta of 0.98. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.40 and a current ratio of 0.40. Hartford Financial Services Group Inc has a 1-year low of $46.35 and a 1-year high of $58.61.

Hartford Financial Services Group (NYSE:HIG) last released its earnings results on Monday, October 23rd. The insurance provider reported $0.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.57 by $0.03. Hartford Financial Services Group had a return on equity of 8.21% and a net margin of 2.63%. The firm had revenue of $4.68 billion for the quarter, compared to the consensus estimate of $4.68 billion. During the same period in the prior year, the firm earned $1.06 EPS. The firm’s revenue was down .7% on a year-over-year basis. sell-side analysts forecast that Hartford Financial Services Group Inc will post 3.63 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, January 2nd. Investors of record on Friday, December 1st will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.77%. This is an increase from Hartford Financial Services Group’s previous quarterly dividend of $0.23. The ex-dividend date of this dividend is Thursday, November 30th. Hartford Financial Services Group’s dividend payout ratio is presently 76.34%.

A number of analysts recently issued reports on HIG shares. BidaskClub lowered Hartford Financial Services Group from a “buy” rating to a “hold” rating in a report on Friday, August 25th. Zacks Investment Research upgraded Hartford Financial Services Group from a “hold” rating to a “buy” rating and set a $60.00 target price for the company in a report on Thursday, September 14th. Wells Fargo & Company set a $55.00 target price on Hartford Financial Services Group and gave the stock a “hold” rating in a report on Thursday, November 16th. UBS upped their target price on Hartford Financial Services Group from $60.00 to $62.00 and gave the stock a “buy” rating in a report on Wednesday, November 1st. Finally, Barclays upped their target price on Hartford Financial Services Group from $61.00 to $64.00 and gave the stock an “overweight” rating in a report on Monday, October 16th. Seven equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $57.54.

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Hartford Financial Services Group Company Profile

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

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