Dai Ichi Life Insurance Company Ltd Lowers Holdings in Hartford Financial Services Group Inc (NYSE:HIG)

angel may

Dai Ichi Life Insurance Company Ltd trimmed its holdings in Hartford Financial Services Group Inc (NYSE:HIG) by 13.7% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 62,155 shares of the insurance provider’s stock after selling 9,871 shares […]

Dai Ichi Life Insurance Company Ltd trimmed its holdings in Hartford Financial Services Group Inc (NYSE:HIG) by 13.7% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 62,155 shares of the insurance provider’s stock after selling 9,871 shares during the quarter. Dai Ichi Life Insurance Company Ltd’s holdings in Hartford Financial Services Group were worth $2,396,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of the business. Quantum Capital Management boosted its holdings in Hartford Financial Services Group by 4.4% in the second quarter. Quantum Capital Management now owns 6,908 shares of the insurance provider’s stock valued at $266,000 after purchasing an additional 288 shares during the last quarter. Regent Investment Management LLC boosted its stake in shares of Hartford Financial Services Group by 4.0% during the 2nd quarter. Regent Investment Management LLC now owns 7,800 shares of the insurance provider’s stock worth $301,000 after acquiring an additional 300 shares in the last quarter. Institute for Wealth Management LLC. boosted its stake in shares of Hartford Financial Services Group by 0.9% during the 2nd quarter. Institute for Wealth Management LLC. now owns 33,298 shares of the insurance provider’s stock worth $1,284,000 after acquiring an additional 303 shares in the last quarter. Cornerstone Advisors Inc. boosted its stake in shares of Hartford Financial Services Group by 27.5% during the 2nd quarter. Cornerstone Advisors Inc. now owns 1,654 shares of the insurance provider’s stock worth $64,000 after acquiring an additional 357 shares in the last quarter. Finally, Moneta Group Investment Advisors LLC boosted its stake in shares of Hartford Financial Services Group by 2.5% during the 1st quarter. Moneta Group Investment Advisors LLC now owns 15,919 shares of the insurance provider’s stock worth $561,000 after acquiring an additional 385 shares in the last quarter. 89.90% of the stock is currently owned by institutional investors.

Several research firms have recently issued reports on HIG. Bank of America began coverage on shares of Hartford Financial Services Group in a research note on Monday, June 1st. They set a “buy” rating on the stock. Morgan Stanley increased their target price on shares of Hartford Financial Services Group from $45.00 to $49.00 and gave the stock an “overweight” rating in a research note on Monday, August 3rd. Credit Suisse Group increased their target price on shares of Hartford Financial Services Group from $44.00 to $48.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 11th. Deutsche Bank lowered their target price on shares of Hartford Financial Services Group from $63.00 to $53.00 and set a “buy” rating on the stock in a research note on Tuesday, May 5th. Finally, Royal Bank of Canada increased their target price on shares of Hartford Financial Services Group from $43.00 to $46.00 and gave the stock a “sector perform” rating in a research note on Monday, August 3rd. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and eleven have issued a buy rating to the company’s stock. Hartford Financial Services Group currently has an average rating of “Buy” and a consensus target price of $54.54.

HIG opened at $41.04 on Wednesday. Hartford Financial Services Group Inc has a twelve month low of $19.04 and a twelve month high of $62.75. The company has a quick ratio of 0.32, a current ratio of 0.32 and a debt-to-equity ratio of 0.26. The company has a 50-day moving average price of $41.49 and a 200 day moving average price of $41.00. The company has a market cap of $14.49 billion, a PE ratio of 8.29, a price-to-earnings-growth ratio of 1.19 and a beta of 0.95.

Hartford Financial Services Group (NYSE:HIG) last released its quarterly earnings data on Thursday, July 30th. The insurance provider reported $1.22 EPS for the quarter, meeting the Zacks’ consensus estimate of $1.22. The company had revenue of $3.20 billion during the quarter, compared to the consensus estimate of $3.15 billion. Hartford Financial Services Group had a net margin of 8.80% and a return on equity of 12.62%. As a group, sell-side analysts expect that Hartford Financial Services Group Inc will post 4.86 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 2nd. Shareholders of record on Tuesday, September 1st will be issued a $0.325 dividend. The ex-dividend date of this dividend is Monday, August 31st. This represents a $1.30 dividend on an annualized basis and a yield of 3.17%. Hartford Financial Services Group’s payout ratio is 23.01%.

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.

See Also: How a Strangle Strategy is different from a Straddle Strategy

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.

Source Article

Next Post

OPEC and BP Signal Pessimism in Oil Markets

Here’s what you need to know: The Organization of the Petroleum Exporting Countries said Monday that it was cutting back slightly its forecast for demand for crude for 2020 and 2021, another sign of new pessimism in the oil markets. The trim amounts to around a half-percent of global demand, […]