Gamco Investors INC. ET AL trimmed its stake in Hartford Financial Services Group Inc (NYSE:HIG) by 1.3% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 159,370 shares of the insurance provider’s stock after selling 2,130 shares during the quarter. Gamco Investors INC. ET AL’s holdings in Hartford Financial Services Group were worth $8,969,000 at the end of the most recent quarter.
Other institutional investors also recently added to or reduced their stakes in the company. First Manhattan Co. boosted its holdings in Hartford Financial Services Group by 103.2% in the fourth quarter. First Manhattan Co. now owns 1,969 shares of the insurance provider’s stock worth $110,000 after acquiring an additional 1,000 shares in the last quarter. Cerebellum GP LLC bought a new stake in Hartford Financial Services Group in the fourth quarter worth $129,000. Wesbanco Bank Inc. bought a new stake in Hartford Financial Services Group in the third quarter worth $206,000. Tdam USA Inc. bought a new stake in Hartford Financial Services Group in the third quarter worth $208,000. Finally, Eqis Capital Management Inc. bought a new stake in Hartford Financial Services Group in the fourth quarter worth $233,000. 88.28% of the stock is currently owned by institutional investors and hedge funds.
Several equities research analysts have commented on HIG shares. UBS Group boosted their target price on Hartford Financial Services Group from $60.00 to $62.00 and gave the stock a “buy” rating in a report on Wednesday, November 1st. ValuEngine raised Hartford Financial Services Group from a “hold” rating to a “buy” rating in a report on Friday, February 2nd. Zacks Investment Research raised Hartford Financial Services Group from a “sell” rating to a “hold” rating in a report on Tuesday, October 24th. Wells Fargo & Co reissued a “hold” rating and issued a $55.00 target price on shares of Hartford Financial Services Group in a report on Monday, October 23rd. Finally, Goldman Sachs Group started coverage on Hartford Financial Services Group in a report on Monday, December 4th. They issued a “neutral” rating and a $59.00 target price on the stock. Seven analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Hartford Financial Services Group currently has an average rating of “Buy” and a consensus target price of $58.92.
Hartford Financial Services Group (NYSE:HIG) last announced its quarterly earnings results on Thursday, February 8th. The insurance provider reported $0.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.77 by $0.04. The firm had revenue of $4.54 billion for the quarter, compared to the consensus estimate of $4.54 billion. Hartford Financial Services Group had a return on equity of 8.21% and a net margin of 2.63%. The company’s quarterly revenue was up 14.1% on a year-over-year basis. During the same period in the prior year, the company posted $1.08 earnings per share. analysts predict that Hartford Financial Services Group Inc will post 3.38 EPS for the current year.
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About Hartford Financial Services Group
The Hartford Financial Services Group, Inc is a holding company for insurance and financial services subsidiaries. The Company’s segments include Commercial Lines, which provides workers’ compensation, property, automobile, marine, livestock, liability and umbrella coverages primarily throughout the United States; Personal Lines, which provides automobile, homeowners and personal umbrella coverages to individuals across the United States; Group Benefits, which provides group life, accident and disability coverage, and other products and services; Property & Casualty Other Operations, which includes certain property and casualty operations; Mutual Funds, which provides investment management, administration, product distribution and related services to investors; Talcott Resolution, which consists of the run-off of the Company’s the United States individual and institutional annuity, and Private Placement Life Insurance (PPLI) businesses, and Corporate.
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