Arizona State Retirement System increased its stake in shares of Hartford Financial Services Group Inc (NYSE:HIG) by 13.1% in the second quarter, Holdings Channel reports. The fund owned 217,837 shares of the insurance provider’s stock after purchasing an additional 25,185 shares during the period. Arizona State Retirement System’s holdings in Hartford Financial Services Group were worth $11,138,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the stock. Scout Investments Inc. bought a new position in Hartford Financial Services Group during the second quarter valued at $21,568,000. Unigestion Holding SA bought a new position in Hartford Financial Services Group during the second quarter valued at $20,503,000. Deprince Race & Zollo Inc. bought a new position in Hartford Financial Services Group during the second quarter valued at $18,741,000. Chevy Chase Trust Holdings Inc. bought a new position in Hartford Financial Services Group during the second quarter valued at $15,430,000. Finally, First Trust Advisors LP lifted its position in Hartford Financial Services Group by 254.8% during the second quarter. First Trust Advisors LP now owns 409,931 shares of the insurance provider’s stock valued at $20,960,000 after purchasing an additional 294,381 shares during the last quarter. Hedge funds and other institutional investors own 88.75% of the company’s stock.

In other news, insider Brion S. Johnson sold 11,568 shares of the stock in a transaction on Monday, May 21st. The shares were sold at an average price of $53.60, for a total value of $620,044.80. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP David C. Robinson sold 2,395 shares of the stock in a transaction 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 completion of the sale, the executive vice president now directly owns 21,398 shares in the company, valued at approximately $1,131,526.24. The disclosure for this sale can be found here. In the last three months, insiders sold 49,438 shares of company stock worth $2,605,412. Insiders own 1.50% of the company’s stock.

HIG has been the subject of several research reports. TheStreet upgraded shares of Hartford Financial Services Group from a “c” rating to a “b” rating in a research report on Thursday, July 26th. ValuEngine upgraded shares of Hartford Financial Services Group from a “hold” rating to a “buy” rating in a research report on Monday, April 30th. Wells Fargo & Co set a $56.00 price objective on shares of Hartford Financial Services Group and gave the company a “hold” rating in a research report on Thursday, April 26th. Credit Suisse Group initiated coverage on shares of Hartford Financial Services Group in a research report on Tuesday, August 7th. They set a “neutral” rating and a $57.00 price objective for the company. Finally, Zacks Investment Research lowered shares of Hartford Financial Services Group from a “buy” rating to a “hold” rating in a research report on Thursday, August 2nd. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and four have given a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $59.00.

Shares of HIG opened at $51.96 on Friday. Hartford Financial Services Group Inc has a twelve month low of $49.67 and a twelve month high of $59.20. The firm has a market capitalization of $18.52 billion, a PE ratio of 18.96, a PEG ratio of 1.16 and a beta of 0.98. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 0.34.

Hartford Financial Services Group (NYSE:HIG) last announced its earnings results on Thursday, July 26th. The insurance provider reported $1.13 earnings per share for the quarter, beating the Thomson Reuters’ 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 the consensus estimate of $4.63 billion. During the same quarter in the prior year, the firm posted $0.81 earnings per share. The business’s revenue for the quarter was up 13.6% on a year-over-year basis. equities research analysts predict that Hartford Financial Services Group Inc will post 4.7 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Monday, October 1st. Stockholders of record on Tuesday, September 4th will be paid a $0.30 dividend. The ex-dividend date is Friday, August 31st. This represents a $1.20 annualized dividend and a dividend yield of 2.31%. This is an increase from Hartford Financial Services Group’s previous quarterly dividend of $0.25. Hartford Financial Services Group’s dividend payout ratio is currently 36.50%.

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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