PNC Financial Services Group Inc. Sells 1,046 Shares of Hartford Financial Services Group Inc (NYSE:HIG)

PNC Financial Services Group Inc. trimmed its holdings in Hartford Financial Services Group Inc (NYSE:HIG) by 1.8% during the first quarter, HoldingsChannel.com reports. The fund owned 56,365 shares of the insurance provider’s stock after selling 1,046 shares during the period. PNC Financial Services Group Inc.’s holdings in Hartford Financial Services Group were worth $2,803,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also made changes to their positions in the company. Icon Wealth Partners LLC purchased a new stake in shares of Hartford Financial Services Group during the 1st quarter worth $33,000. Bremer Bank National Association purchased a new stake in shares of Hartford Financial Services Group during the 1st quarter worth $89,000. Advisor Group Inc. boosted its position in shares of Hartford Financial Services Group by 9.2% during the 1st quarter. Advisor Group Inc. now owns 17,451 shares of the insurance provider’s stock worth $868,000 after purchasing an additional 1,465 shares in the last quarter. Signaturefd LLC boosted its position in shares of Hartford Financial Services Group by 20.7% during the 1st quarter. Signaturefd LLC now owns 3,310 shares of the insurance provider’s stock worth $165,000 after purchasing an additional 568 shares in the last quarter. Finally, Synovus Financial Corp boosted its position in shares of Hartford Financial Services Group by 11.2% during the 1st quarter. Synovus Financial Corp now owns 5,365 shares of the insurance provider’s stock worth $267,000 after purchasing an additional 540 shares in the last quarter. 89.92% of the stock is currently owned by institutional investors and hedge funds.

In related news, EVP Robert W. Paiano sold 5,000 shares of the business’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $50.00, for a total value of $250,000.00. Following the completion of the transaction, the executive vice president now owns 33,342 shares of the company’s stock, valued at approximately $1,667,100. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Trevor Fetter bought 10,000 shares of the business’s stock in a transaction that occurred on Thursday, May 9th. The stock was purchased at an average cost of $52.19 per share, with a total value of $521,900.00. Following the purchase, the director now directly owns 50,945 shares in the company, valued at approximately $2,658,819.55. The disclosure for this purchase can be found here. Insiders sold a total of 21,539 shares of company stock worth $1,132,272 over the last quarter. Insiders own 1.70% of the company’s stock.

Several brokerages have commented on HIG. Goldman Sachs Group upgraded shares of Hartford Financial Services Group from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $53.00 to $64.00 in a research report on Wednesday, May 29th. Barclays boosted their target price on shares of Hartford Financial Services Group from $57.00 to $62.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 22nd. Zacks Investment Research lowered shares of Hartford Financial Services Group from a “buy” rating to a “hold” rating in a research report on Monday, May 20th. Wells Fargo & Co restated a “hold” rating and set a $56.00 target price on shares of Hartford Financial Services Group in a research report on Thursday, May 2nd. Finally, ValuEngine upgraded shares of Hartford Financial Services Group from a “sell” rating to a “hold” rating in a research report on Wednesday, March 27th. Five research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $58.25.

Shares of Hartford Financial Services Group stock traded down $0.10 on Wednesday, hitting $54.59. The company’s stock had a trading volume of 230,574 shares, compared to its average volume of 2,157,074. Hartford Financial Services Group Inc has a 52-week low of $40.54 and a 52-week high of $55.42. The company has a quick ratio of 0.32, a current ratio of 0.32 and a debt-to-equity ratio of 0.27. The firm has a market capitalization of $19.87 billion, a PE ratio of 12.61, a P/E/G ratio of 1.13 and a beta of 0.68.

Hartford Financial Services Group (NYSE:HIG) last released its quarterly earnings data on Wednesday, May 1st. The insurance provider reported $1.39 EPS for the quarter, topping the consensus estimate of $1.24 by $0.15. Hartford Financial Services Group had a net margin of 9.58% and a return on equity of 12.46%. The business had revenue of $4.94 billion for the quarter, compared to analyst estimates of $4.84 billion. During the same period in the previous year, the firm earned $1.27 EPS. The business’s revenue for the quarter was up 5.3% compared to the same quarter last year. On average, research analysts expect that Hartford Financial Services Group Inc will post 5.12 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Monday, June 3rd will be given a $0.30 dividend. The ex-dividend date is Friday, May 31st. This represents a $1.20 annualized dividend and a dividend yield of 2.20%. Hartford Financial Services Group’s dividend payout ratio is presently 27.71%.

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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.

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

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