Todays Report: Today, Bank of New York Mellon Corp Reached $317,218,000 position of The Hartford Financial Services Group Inc. (HIG)

Today, Bank of New York Mellon Corp Reached $317,218,000 position  of The Hartford Financial Services Group Inc. (HIG)

Bank of New York Mellon Corp lowered its position in shares of The Hartford Financial Services Group Inc. (NYSE:HIG) by 18.2% during the third quarter, Holdings Channel reports. The institutional investor owned 7,408,161 shares of the company’s stock after selling 1,648,621 shares during the period. Bank of New York Mellon Corp’s holdings in The Hartford Financial Services Group were worth $317,218,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Credit Suisse AG boosted its position in shares of The Hartford Financial Services Group by 139.2% in the second quarter. Credit Suisse AG now owns 712,911 shares of the company’s stock worth $31,640,000 after buying an additional 2,533,792 shares in the last quarter. Victory Capital Management Inc. raised its position in The Hartford Financial Services Group by 1,568.4% in the third quarter. Victory Capital Management Inc. now owns 1,534,158 shares of the company’s stock valued at $65,692,000 after buying an additional 1,442,206 shares during the last quarter. JPMorgan Chase & Co. raised its position in The Hartford Financial Services Group by 4.8% in the second quarter. JPMorgan Chase & Co. now owns 21,003,913 shares of the company’s stock valued at $932,154,000 after buying an additional 970,635 shares during the last quarter. Emerald Acquisition Ltd. bought a new position in The Hartford Financial Services Group during the second quarter valued at about $40,632,000. Finally, Hexavest Inc. bought a new position in The Hartford Financial Services Group during the second quarter valued at about $27,438,000. 88.68% of the stock is currently owned by institutional investors.

Shares of The Hartford Financial Services Group Inc. (NYSE:HIG) opened at 47.18 on Tuesday. The company has a market capitalization of $17.82 billion, a price-to-earnings ratio of 13.61 and a beta of 1.24. The Hartford Financial Services Group Inc. has a 52-week low of $36.54 and a 52-week high of $48.17. The company’s 50 day moving average price is $44.86 and its 200 day moving average price is $43.25.

The Hartford Financial Services Group (NYSE:HIG) last issued its quarterly earnings data on Thursday, October 27th. The company reported $1.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.95 by $0.11. The Hartford Financial Services Group had a return on equity of 7.49% and a net margin of 7.65%. The business had revenue of $4.70 billion for the quarter, compared to the consensus estimate of $4.68 billion. During the same period in the prior year, the business posted $0.86 earnings per share. The company’s quarterly revenue was up 2.9% compared to the same quarter last year. On average, analysts predict that The Hartford Financial Services Group Inc. will post $3.33 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 3rd. Shareholders of record on Thursday, December 1st will be given a dividend of $0.23 per share. The ex-dividend date is Tuesday, November 29th. This is an increase from The Hartford Financial Services Group’s previous quarterly dividend of $0.21. This represents a $0.92 dividend on an annualized basis and a yield of 1.94%. The Hartford Financial Services Group’s dividend payout ratio is 24.28%.

Several research firms recently issued reports on HIG. Bank of America Corp. lowered The Hartford Financial Services Group from a “buy” rating to a “neutral” rating in a research report on Wednesday, November 16th. FBR & Co lowered The Hartford Financial Services Group from an “outperform” rating to a “market perform” rating and set a $47.00 price target on the stock. in a research report on Monday. Credit Suisse Group AG began coverage on The Hartford Financial Services Group in a research report on Friday, October 7th. They set a “buy” rating on the stock. Barclays PLC restated an “overweight” rating and set a $47.00 price target (up from $46.00) on shares of The Hartford Financial Services Group in a research report on Saturday, October 1st. Finally, Zacks Investment Research upgraded The Hartford Financial Services Group from a “strong sell” rating to a “hold” rating in a research report on Tuesday, September 27th. Nine equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $47.45.

In other news, SVP Scott R. Lewis sold 5,868 shares of the stock in a transaction that occurred on Wednesday, November 2nd. The stock was sold at an average price of $44.16, for a total value of $259,130.88. Following the sale, the senior vice president now directly owns 12,812 shares in the company, valued at $565,777.92. The sale was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 1.23% of the company’s stock.

About The Hartford Financial Services Group

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.

Related posts

Leave a Comment