Trading Report: The Bp Plc reached $1,776,000 position of The Hartford Financial Services Group Inc. (HIG)

The Bp Plc reached $1,776,000 position  of The Hartford Financial Services Group Inc. (HIG)

Bp Plc cut its position in shares of The Hartford Financial Services Group Inc. (NYSE:HIG) by 79.5% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 40,000 shares of the company’s stock after selling 155,000 shares during the period. Bp Plc’s holdings in The Hartford Financial Services Group were worth $1,776,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Hexavest Inc. purchased a new stake in shares of The Hartford Financial Services Group during the second quarter worth about $27,438,000. Wellington Management Group LLP increased its stake in shares of The Hartford Financial Services Group by 4.2% in the first quarter. Wellington Management Group LLP now owns 10,922,044 shares of the company’s stock worth $503,287,000 after buying an additional 444,885 shares in the last quarter. RS Investment Management Co. LLC purchased a new stake in shares of The Hartford Financial Services Group during the second quarter worth about $15,702,000. Bank of Montreal Can purchased a new stake in shares of The Hartford Financial Services Group during the second quarter worth about $9,144,000. Finally, Mount Lucas Management LP increased its stake in shares of The Hartford Financial Services Group by 55.2% in the first quarter. Mount Lucas Management LP now owns 562,401 shares of the company’s stock worth $25,916,000 after buying an additional 199,958 shares in the last quarter. Institutional investors own 89.61% of the company’s stock.

The Hartford Financial Services Group Inc. (NYSE:HIG) traded down 0.39% during midday trading on Monday, hitting $43.14. 1,512,872 shares of the stock traded hands. The Hartford Financial Services Group Inc. has a one year low of $36.54 and a one year high of $49.41. The company has a market cap of $16.65 billion, a PE ratio of 13.23 and a beta of 1.35. The company’s 50-day moving average is $42.21 and its 200-day moving average is $43.32.

The Hartford Financial Services Group (NYSE:HIG) last issued its quarterly earnings results on Thursday, July 28th. The company reported $0.31 EPS for the quarter, missing the consensus estimate of $0.80 by $0.49. The Hartford Financial Services Group had a return on equity of 7.27% and a net margin of 7.39%. The company had revenue of $1.88 billion for the quarter, compared to analyst estimates of $4.71 billion. During the same period last year, the company posted $0.91 EPS. The business’s revenue for the quarter was down .2% on a year-over-year basis. Equities research analysts expect that The Hartford Financial Services Group Inc. will post $3.28 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Monday, October 3rd. Investors of record on Thursday, September 1st were given a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 1.95%. The ex-dividend date of this dividend was Tuesday, August 30th. The Hartford Financial Services Group’s dividend payout ratio (DPR) is 25.93%.

HIG has been the subject of a number of recent analyst reports. Keefe, Bruyette & Woods cut their price target on shares of The Hartford Financial Services Group from $52.00 to $46.00 and set an “outperform” rating for the company in a report on Monday, August 1st. Credit Suisse Group AG set a $51.00 price target on shares of The Hartford Financial Services Group and gave the stock a “buy” rating in a report on Tuesday, August 23rd. FBR & Co restated a “buy” rating on shares of The Hartford Financial Services Group in a report on Friday, July 29th. Zacks Investment Research upgraded shares of The Hartford Financial Services Group from a “strong sell” rating to a “hold” rating in a report on Tuesday, September 27th. Finally, Barclays PLC restated an “overweight” rating and set a $47.00 price target (up previously from $46.00) on shares of The Hartford Financial Services Group in a report on Saturday, October 1st. Eight investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $47.83.

In related news, Director H Patrick Swygert sold 7,500 shares of the company’s stock in a transaction that occurred on Monday, August 29th. The shares were sold at an average price of $40.35, for a total transaction of $302,625.00. Following the completion of the transaction, the director now owns 34,745 shares of the company’s stock, valued at $1,401,960.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 1.23% of the company’s stock.

The Hartford Financial Services Group Company Profile

The Hartford Financial Services Group, Inc is a holding company. The Company operates through six segments: Commercial Lines, Personal Lines, Property & Casualty Other Operations, Group Benefits, Mutual Funds and Talcott Resolution. Commercial Lines segment provides workers’ compensation, property, automobile, liability, umbrella, marine and livestock coverages to businesses, throughout the United States.

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