Icon Advisers Inc. Co. bought a new position in shares of Hartford Financial Services Group Inc (NYSE:HIG) during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 18,900 shares of the insurance provider’s stock, valued at approximately $944,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of HIG. Migdal Insurance & Financial Holdings Ltd. lifted its holdings in shares of Hartford Financial Services Group by 8,566.7% during the second quarter. Migdal Insurance & Financial Holdings Ltd. now owns 2,080 shares of the insurance provider’s stock worth $106,000 after purchasing an additional 2,056 shares during the period. First Mercantile Trust Co. acquired a new position in shares of Hartford Financial Services Group during the second quarter worth $133,000. Hartford Financial Management Inc. acquired a new position in shares of Hartford Financial Services Group during the second quarter worth $143,000. BTIM Corp. acquired a new position in shares of Hartford Financial Services Group during the second quarter worth $211,000. Finally, Piedmont Investment Advisors LLC acquired a new position in shares of Hartford Financial Services Group during the second quarter worth $215,000. 89.46% of the stock is currently owned by hedge funds and other institutional investors.

HIG has been the topic of a number of recent research reports. Wells Fargo & Co cut their price target on shares of Hartford Financial Services Group from $58.00 to $56.00 and set a “market perform” rating on the stock in a report on Tuesday, October 9th. Sandler O’Neill initiated coverage on shares of Hartford Financial Services Group in a report on Monday, September 10th. They set a “buy” rating and a $60.00 price target on the stock. Bank of America upgraded shares of Hartford Financial Services Group from a “neutral” rating to a “buy” rating and set a $59.00 price target on the stock in a report on Tuesday, October 9th. They noted that the move was a valuation call. Zacks Investment Research lowered shares of Hartford Financial Services Group from a “buy” rating to a “hold” rating in a report on Wednesday, September 5th. Finally, Credit Suisse Group set a $56.00 price target on shares of Hartford Financial Services Group and gave the stock a “hold” rating in a report on Tuesday, October 9th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and five have issued a buy rating to the company. Hartford Financial Services Group presently has a consensus rating of “Hold” and an average target price of $57.82.

HIG stock opened at $46.59 on Friday. The firm has a market capitalization of $16.84 billion, a P/E ratio of 17.00, a PEG ratio of 1.04 and a beta of 0.94. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 0.33. Hartford Financial Services Group Inc has a 12-month low of $43.31 and a 12-month high of $59.20.

Hartford Financial Services Group (NYSE:HIG) last released its earnings results on Thursday, October 25th. The insurance provider reported $1.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.04 by $0.11. The business had revenue of $4.80 billion for the quarter. Hartford Financial Services Group had a negative net margin of 11.09% and a positive return on equity of 12.20%. Equities analysts anticipate that Hartford Financial Services Group Inc will post 4.73 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 2nd. Investors of record on Monday, December 3rd will be issued a $0.30 dividend. The ex-dividend date of this dividend is Friday, November 30th. This represents a $1.20 annualized dividend and a yield of 2.58%. Hartford Financial Services Group’s payout ratio is 43.80%.

In related news, EVP David C. Robinson sold 2,395 shares of the business’s stock in a transaction on Wednesday, October 31st. The shares were sold at an average price of $45.62, for a total value of $109,259.90. Following the transaction, the executive vice president now owns 19,003 shares in the company, valued at $866,916.86. The transaction was disclosed in a document filed with the SEC, which is available through this link. 1.50% of the stock is owned by insiders.

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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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