Amundi Pioneer Asset Management Inc. Buys 1,554,179 Shares of Hartford Financial Services Group Inc (HIG)

Amundi Pioneer Asset Management Inc. boosted its stake in Hartford Financial Services Group Inc (NYSE:HIG) by 87.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,337,548 shares of the insurance provider’s stock after purchasing an additional 1,554,179 shares during the period. Amundi Pioneer Asset Management Inc.’s holdings in Hartford Financial Services Group were worth $148,354,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Bronfman E.L. Rothschild L.P. increased its holdings in Hartford Financial Services Group by 11.7% in the 4th quarter. Bronfman E.L. Rothschild L.P. now owns 2,140 shares of the insurance provider’s stock valued at $95,000 after purchasing an additional 224 shares in the last quarter. Parallel Advisors LLC increased its holdings in Hartford Financial Services Group by 20.0% in the 4th quarter. Parallel Advisors LLC now owns 1,553 shares of the insurance provider’s stock valued at $69,000 after purchasing an additional 259 shares in the last quarter. Shelton Capital Management increased its holdings in Hartford Financial Services Group by 7.1% in the 4th quarter. Shelton Capital Management now owns 4,522 shares of the insurance provider’s stock valued at $201,000 after purchasing an additional 300 shares in the last quarter. Cigna Investments Inc. New increased its holdings in Hartford Financial Services Group by 3.1% in the 4th quarter. Cigna Investments Inc. New now owns 10,429 shares of the insurance provider’s stock valued at $464,000 after purchasing an additional 312 shares in the last quarter. Finally, Mackay Shields LLC increased its holdings in Hartford Financial Services Group by 0.6% in the 4th quarter. Mackay Shields LLC now owns 57,482 shares of the insurance provider’s stock valued at $2,555,000 after purchasing an additional 316 shares in the last quarter. Hedge funds and other institutional investors own 90.87% of the company’s stock.

Shares of Hartford Financial Services Group stock opened at $48.23 on Thursday. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.32 and a quick ratio of 0.32. The stock has a market cap of $17.59 billion, a PE ratio of 11.14, a price-to-earnings-growth ratio of 1.04 and a beta of 0.72. 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 announced its earnings results on Monday, February 4th. The insurance provider reported $0.78 earnings per share for the quarter, beating the consensus estimate of $0.65 by $0.13. The company had revenue of $4.63 billion during the quarter, compared to the consensus estimate of $4.73 billion. Hartford Financial Services Group had a return on equity of 12.31% and a net margin of 9.53%. The company’s revenue was up 1.0% on a year-over-year basis. During the same period last year, the firm earned $0.81 earnings per share. On average, analysts predict that Hartford Financial Services Group Inc will post 4.98 EPS for the current fiscal year.

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

The company also recently declared a quarterly dividend, which will be paid on Monday, April 1st. Investors of record on Monday, March 4th will be paid a $0.30 dividend. The ex-dividend date of this dividend is Friday, March 1st. This represents a $1.20 dividend on an annualized basis and a yield of 2.49%. Hartford Financial Services Group’s dividend payout ratio (DPR) is 27.71%.

In other news, CEO Christopher Swift purchased 11,423 shares of the firm’s stock in a transaction that occurred on Thursday, January 10th. The stock was acquired at an average cost of $43.73 per share, for a total transaction of $499,527.79. Following the completion of the purchase, the chief executive officer now owns 135,389 shares of the company’s stock, valued at $5,920,560.97. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP David C. Robinson sold 2,392 shares of Hartford Financial Services Group stock in a transaction dated Thursday, January 31st. The stock was sold at an average price of $46.35, for a total value of $110,869.20. The disclosure for this sale can be found here. 1.50% of the stock is currently owned by company insiders.

Several brokerages recently issued reports on HIG. ValuEngine downgraded Hartford Financial Services Group from a “hold” rating to a “sell” rating in a report on Tuesday, March 5th. TheStreet upgraded Hartford Financial Services Group from a “c+” rating to a “b-” rating in a research note on Thursday, March 14th. Compass Point initiated coverage on Hartford Financial Services Group in a research note on Tuesday, January 15th. They set a “buy” rating and a $58.00 target price for the company. Wells Fargo & Co restated a “hold” rating and set a $53.00 target price on shares of Hartford Financial Services Group in a research note on Thursday, November 29th. Finally, Janney Montgomery Scott upgraded Hartford Financial Services Group from a “neutral” rating to a “buy” rating in a research note on Tuesday, December 4th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and nine have issued a buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $56.92.

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Hartford Financial Services Group Company 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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