Virtus Fund Advisers LLC Boosts Stake in Hartford Financial Services Group Inc (HIG)

Virtus Fund Advisers LLC raised its stake in Hartford Financial Services Group Inc (NYSE:HIG) by 120.8% in the fourth quarter, Holdings Channel reports. The fund owned 1,215,200 shares of the insurance provider’s stock after purchasing an additional 664,900 shares during the quarter. Virtus Fund Advisers LLC’s holdings in Hartford Financial Services Group were worth $68,660,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of HIG. Raymond James Financial Services Advisors Inc. lifted its holdings in shares of Hartford Financial Services Group by 16.8% in the second quarter. Raymond James Financial Services Advisors Inc. now owns 30,014 shares of the insurance provider’s stock worth $1,578,000 after acquiring an additional 4,307 shares during the last quarter. Shell Asset Management Co. raised its holdings in Hartford Financial Services Group by 216.8% in the 3rd quarter. Shell Asset Management Co. now owns 62,767 shares of the insurance provider’s stock valued at $2,338,000 after buying an additional 42,956 shares during the last quarter. PGGM Investments raised its holdings in Hartford Financial Services Group by 195.7% in the 3rd quarter. PGGM Investments now owns 752,785 shares of the insurance provider’s stock valued at $41,727,000 after buying an additional 498,249 shares during the last quarter. Assenagon Asset Management S.A. bought a new position in Hartford Financial Services Group in the 3rd quarter valued at approximately $6,697,000. Finally, Robeco Institutional Asset Management B.V. raised its holdings in Hartford Financial Services Group by 19.7% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 132,088 shares of the insurance provider’s stock valued at $7,319,000 after buying an additional 21,741 shares during the last quarter. 87.59% of the stock is owned by hedge funds and other institutional investors.

Hartford Financial Services Group Inc (NYSE:HIG) opened at $54.14 on Friday. The company has a current ratio of 0.27, a quick ratio of 0.40 and a debt-to-equity ratio of 0.37. Hartford Financial Services Group Inc has a fifty-two week low of $46.35 and a fifty-two week high of $59.20. The stock has a market cap of $19,317.15, a P/E ratio of 15.69, a price-to-earnings-growth ratio of 1.30 and a beta of 0.93.

Hartford Financial Services Group (NYSE:HIG) last released its quarterly earnings results on Thursday, February 8th. The insurance provider reported $0.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.77 by $0.04. Hartford Financial Services Group had a negative net margin of 16.79% and a positive return on equity of 7.89%. The firm had revenue of $4.54 billion during the quarter, compared to analyst estimates of $4.54 billion. During the same quarter last year, the business earned $1.08 EPS. The company’s revenue was up 14.1% compared to the same quarter last year. sell-side analysts forecast that Hartford Financial Services Group Inc will post 4.39 earnings per share for the current year.

HIG has been the subject of a number of research reports. Wells Fargo & Co reiterated a “hold” rating and issued a $55.00 price objective on shares of Hartford Financial Services Group in a report on Monday, October 23rd. Zacks Investment Research upgraded shares of Hartford Financial Services Group from a “sell” rating to a “hold” rating in a report on Tuesday, October 24th. UBS Group raised their price objective on shares of Hartford Financial Services Group from $58.00 to $60.00 and gave the company a “buy” rating in a report on Tuesday, October 24th. B. Riley reiterated a “neutral” rating on shares of Hartford Financial Services Group in a report on Monday, November 6th. Finally, Goldman Sachs Group initiated coverage on shares of Hartford Financial Services Group in a report on Monday, December 4th. They issued a “neutral” rating and a $59.00 price objective for the company. One analyst has rated the stock with a sell rating, six have given a hold rating and eight have assigned a buy rating to the company. Hartford Financial Services Group presently has a consensus rating of “Hold” and an average target price of $59.00.

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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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