Alerus Financial NA Acquires 7,156 Shares of The Hartford Financial Services Group, Inc. (NYSE:HIG)

Alerus Financial NA increased its holdings in shares of The Hartford Financial Services Group, Inc. (NYSE:HIGGet Rating) by 26.2% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 34,520 shares of the insurance provider’s stock after purchasing an additional 7,156 shares during the quarter. Alerus Financial NA’s holdings in The Hartford Financial Services Group were worth $2,479,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. State Street Corp lifted its holdings in shares of The Hartford Financial Services Group by 1.1% during the fourth quarter. State Street Corp now owns 20,375,936 shares of the insurance provider’s stock valued at $1,414,434,000 after purchasing an additional 225,635 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of The Hartford Financial Services Group by 2.8% during the fourth quarter. JPMorgan Chase & Co. now owns 18,973,835 shares of the insurance provider’s stock valued at $1,309,954,000 after purchasing an additional 508,977 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of The Hartford Financial Services Group by 1.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 5,305,298 shares of the insurance provider’s stock valued at $366,278,000 after purchasing an additional 82,472 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its holdings in shares of The Hartford Financial Services Group by 1.9% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 4,183,948 shares of the insurance provider’s stock valued at $288,860,000 after purchasing an additional 77,493 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its holdings in shares of The Hartford Financial Services Group by 3.4% during the first quarter. Bank of New York Mellon Corp now owns 4,168,741 shares of the insurance provider’s stock valued at $299,357,000 after purchasing an additional 137,012 shares in the last quarter. 90.14% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have weighed in on HIG. Jefferies Financial Group lowered their target price on The Hartford Financial Services Group from $77.00 to $72.00 and set a “hold” rating on the stock in a report on Tuesday, July 12th. Royal Bank of Canada decreased their price objective on The Hartford Financial Services Group from $77.00 to $71.00 and set a “sector perform” rating on the stock in a research note on Monday, August 1st. Citigroup assumed coverage on The Hartford Financial Services Group in a research note on Monday, May 23rd. They issued a “buy” rating and a $81.00 price objective on the stock. Barclays cut their target price on The Hartford Financial Services Group to $78.00 in a research report on Tuesday, August 9th. Finally, Credit Suisse Group increased their target price on The Hartford Financial Services Group from $93.00 to $104.00 and gave the stock an “outperform” rating in a research report on Friday, June 3rd. Three research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, The Hartford Financial Services Group presently has a consensus rating of “Moderate Buy” and a consensus target price of $81.20.

The Hartford Financial Services Group Stock Up 0.9 %

The Hartford Financial Services Group stock opened at $66.37 on Friday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.30 and a current ratio of 0.30. The business’s 50-day simple moving average is $65.40 and its two-hundred day simple moving average is $68.39. The company has a market cap of $21.45 billion, a PE ratio of 10.92, a PEG ratio of 1.30 and a beta of 0.91. The Hartford Financial Services Group, Inc. has a fifty-two week low of $61.59 and a fifty-two week high of $78.17.

The Hartford Financial Services Group (NYSE:HIGGet Rating) last released its quarterly earnings results on Thursday, July 28th. The insurance provider reported $2.15 earnings per share for the quarter, topping analysts’ consensus estimates of $1.52 by $0.63. The company had revenue of $3.77 billion during the quarter, compared to analysts’ expectations of $5.53 billion. The Hartford Financial Services Group had a return on equity of 15.03% and a net margin of 9.42%. During the same quarter in the prior year, the firm posted $2.33 EPS. Equities analysts anticipate that The Hartford Financial Services Group, Inc. will post 7.21 EPS for the current year.

The Hartford Financial Services Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 4th. Stockholders of record on Thursday, September 1st will be given a $0.385 dividend. The ex-dividend date of this dividend is Wednesday, August 31st. This represents a $1.54 dividend on an annualized basis and a dividend yield of 2.32%. The Hartford Financial Services Group’s dividend payout ratio (DPR) is presently 25.33%.

Insider Activity

In related news, SVP Scott R. Lewis sold 2,558 shares of the stock in a transaction that occurred on Tuesday, August 9th. The stock was sold at an average price of $65.04, for a total value of $166,372.32. Following the completion of the transaction, the senior vice president now directly owns 18,396 shares in the company, valued at $1,196,475.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 1.80% of the company’s stock.

The Hartford Financial Services Group Profile

(Get Rating)

The Hartford Financial Services Group, Inc provides insurance and financial services to individual and business customers in the United States, the United Kingdom, and internationally. Its Commercial Lines segment offers workers' compensation, property, automobile, liability, umbrella, bond, marine, livestock, and reinsurance; and customized insurance products and risk management services, including professional liability, bond, surety, and specialty casualty coverages through regional offices, branches, sales and policyholder service centers, independent retail agents and brokers, wholesale agents, and reinsurance brokers.

See Also

Want to see what other hedge funds are holding HIG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for The Hartford Financial Services Group, Inc. (NYSE:HIGGet Rating).

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

Receive News & Ratings for The Hartford Financial Services Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for The Hartford Financial Services Group and related companies with MarketBeat.com's FREE daily email newsletter.