Hartford Financial Services Group Inc (HIG) Position Reduced by Arrowstreet Capital Limited Partnership

Arrowstreet Capital Limited Partnership cut its stake in Hartford Financial Services Group Inc (NYSE:HIG) by 46.7% in the fourth quarter, HoldingsChannel reports. The firm owned 1,370,822 shares of the insurance provider’s stock after selling 1,202,061 shares during the period. Arrowstreet Capital Limited Partnership’s holdings in Hartford Financial Services Group were worth $77,150,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Centaurus Financial Inc. acquired a new stake in Hartford Financial Services Group during the 4th quarter valued at approximately $326,000. Uncommon Cents Investing LLC acquired a new stake in Hartford Financial Services Group during the 4th quarter valued at approximately $1,967,000. Virtus Fund Advisers LLC lifted its stake in Hartford Financial Services Group by 120.8% during the 4th quarter. Virtus Fund Advisers LLC now owns 1,215,200 shares of the insurance provider’s stock valued at $68,660,000 after acquiring an additional 664,900 shares during the period. Itau Unibanco Holding S.A. lifted its stake in Hartford Financial Services Group by 178.0% during the 4th quarter. Itau Unibanco Holding S.A. now owns 4,159 shares of the insurance provider’s stock valued at $234,000 after acquiring an additional 2,663 shares during the period. Finally, UBS Asset Management Americas Inc. lifted its stake in Hartford Financial Services Group by 3.6% during the 4th quarter. UBS Asset Management Americas Inc. now owns 1,472,195 shares of the insurance provider’s stock valued at $82,855,000 after acquiring an additional 51,326 shares during the period. Institutional investors own 87.06% of the company’s stock.

HIG has been the subject of several research reports. Goldman Sachs Group started coverage on shares of Hartford Financial Services Group in a research note on Monday, December 4th. They set a “neutral” rating and a $59.00 price objective for the company. UBS Group boosted their target price on shares of Hartford Financial Services Group from $58.00 to $60.00 and gave the company a “buy” rating in a research note on Tuesday, October 24th. Wells Fargo & Co set a $55.00 target price on shares of Hartford Financial Services Group and gave the company a “hold” rating in a research note on Thursday, November 16th. ValuEngine upgraded shares of Hartford Financial Services Group from a “hold” rating to a “buy” rating in a research note on Friday, February 2nd. Finally, Zacks Investment Research cut shares of Hartford Financial Services Group from a “hold” rating to a “sell” rating in a research note on Thursday, February 15th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and eight have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $59.00.

Hartford Financial Services Group Inc (NYSE HIG) opened at $53.82 on Wednesday. The company has a quick ratio of 0.40, a current ratio of 0.27 and a debt-to-equity ratio of 0.37. Hartford Financial Services Group Inc has a 12 month low of $46.35 and a 12 month high of $59.20. The stock has a market cap of $19,200.00, a price-to-earnings ratio of -5,382.00, a P/E/G ratio of 1.30 and a beta of 0.93.

Hartford Financial Services Group (NYSE:HIG) last posted its earnings results on Thursday, February 8th. The insurance provider reported $0.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.77 by $0.04. The firm had revenue of $4.54 billion during the quarter, compared to analysts’ expectations of $4.54 billion. Hartford Financial Services Group had a negative net margin of 16.79% and a positive return on equity of 7.89%. The business’s revenue was up 14.1% compared to the same quarter last year. During the same period in the previous year, the business posted $1.08 EPS. research analysts anticipate that Hartford Financial Services Group Inc will post 4.39 earnings per share for the current year.

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Hartford Financial Services Group Profile

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.

Want to see what other hedge funds are holding HIG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Hartford Financial Services Group Inc (NYSE:HIG).

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

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