Hartford Financial Services Group Inc (HIG) Holdings Trimmed by CIBC World Markets Inc.

CIBC World Markets Inc. lowered its holdings in shares of Hartford Financial Services Group Inc (NYSE:HIG) by 84.6% during the 4th quarter, HoldingsChannel reports. The fund owned 7,770 shares of the insurance provider’s stock after selling 42,609 shares during the period. CIBC World Markets Inc.’s holdings in Hartford Financial Services Group were worth $437,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also made changes to their positions in the company. Renaissance Technologies LLC bought a new stake in shares of Hartford Financial Services Group in the 2nd quarter worth $12,307,000. HighTower Advisors LLC raised its stake in shares of Hartford Financial Services Group by 3.8% in the 2nd quarter. HighTower Advisors LLC now owns 23,992 shares of the insurance provider’s stock worth $1,260,000 after buying an additional 888 shares in the last quarter. The Manufacturers Life Insurance Company raised its stake in shares of Hartford Financial Services Group by 1.1% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 757,759 shares of the insurance provider’s stock worth $39,836,000 after buying an additional 8,333 shares in the last quarter. Raymond James Financial Services Advisors Inc. raised its stake in shares of Hartford Financial Services Group by 16.8% in the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 30,014 shares of the insurance provider’s stock worth $1,578,000 after buying an additional 4,307 shares in the last quarter. Finally, Nomura Holdings Inc. bought a new stake in shares of Hartford Financial Services Group in the 2nd quarter worth $1,462,000. 88.28% of the stock is currently owned by hedge funds and other institutional investors.

A number of analysts have recently commented on the company. ValuEngine raised Hartford Financial Services Group from a “hold” rating to a “buy” rating in a research note on Friday, February 2nd. Wells Fargo & Co set a $55.00 price objective on Hartford Financial Services Group and gave the stock a “hold” rating in a research note on Monday, December 4th. Goldman Sachs Group assumed coverage on Hartford Financial Services Group in a research note on Monday, December 4th. They issued a “neutral” rating and a $59.00 price objective on the stock. Citigroup assumed coverage on Hartford Financial Services Group in a research note on Wednesday, December 20th. They issued a “neutral” rating and a $59.00 price objective on the stock. Finally, Zacks Investment Research raised Hartford Financial Services Group from a “sell” rating to a “hold” rating in a research note on Wednesday. Seven research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Hartford Financial Services Group has an average rating of “Buy” and a consensus target price of $58.92.

Shares of Hartford Financial Services Group Inc (NYSE:HIG) opened at $53.34 on Friday. The stock has a market capitalization of $19,926.31, a price-to-earnings ratio of 15.02, a PEG ratio of 1.35 and a beta of 0.93. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 0.28. Hartford Financial Services Group Inc has a 52-week low of $46.35 and a 52-week high of $59.20.

Hartford Financial Services Group (NYSE:HIG) last announced its earnings results on Thursday, February 8th. The insurance provider reported $0.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.77 by $0.04. The company had revenue of $4.54 billion for the quarter, compared to analyst estimates of $4.54 billion. Hartford Financial Services Group had a return on equity of 8.21% and a net margin of 2.63%. Hartford Financial Services Group’s revenue for the quarter was up 14.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.08 earnings per share. research analysts anticipate that Hartford Financial Services Group Inc will post 3.38 EPS for the current fiscal 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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Institutional Ownership by Quarter for Hartford Financial Services Group (NYSE:HIG)

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