Benin Management CORP Cuts Stock Position in Hartford Financial Services Group Inc (NYSE:HIG)

Benin Management CORP lessened its holdings in Hartford Financial Services Group Inc (NYSE:HIG) by 18.6% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 91,699 shares of the insurance provider’s stock after selling 21,000 shares during the period. Hartford Financial Services Group accounts for approximately 2.4% of Benin Management CORP’s holdings, making the stock its 12th biggest position. Benin Management CORP’s holdings in Hartford Financial Services Group were worth $5,573,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. First Trust Advisors LP increased its stake in Hartford Financial Services Group by 14.3% in the 3rd quarter. First Trust Advisors LP now owns 1,199,437 shares of the insurance provider’s stock worth $72,698,000 after buying an additional 150,178 shares in the last quarter. Boston Advisors LLC boosted its holdings in shares of Hartford Financial Services Group by 1.9% during the 3rd quarter. Boston Advisors LLC now owns 10,865 shares of the insurance provider’s stock valued at $659,000 after purchasing an additional 205 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its holdings in shares of Hartford Financial Services Group by 5.5% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 3,495,240 shares of the insurance provider’s stock valued at $211,846,000 after purchasing an additional 183,437 shares during the last quarter. CSat Investment Advisory L.P. boosted its holdings in shares of Hartford Financial Services Group by 135.9% during the 2nd quarter. CSat Investment Advisory L.P. now owns 821 shares of the insurance provider’s stock valued at $45,000 after purchasing an additional 473 shares during the last quarter. Finally, Voya Investment Management LLC boosted its holdings in shares of Hartford Financial Services Group by 0.4% during the 3rd quarter. Voya Investment Management LLC now owns 1,962,863 shares of the insurance provider’s stock valued at $118,969,000 after purchasing an additional 8,233 shares during the last quarter. Institutional investors and hedge funds own 90.49% of the company’s stock.

HIG has been the subject of several research reports. Zacks Investment Research raised shares of Hartford Financial Services Group from a “hold” rating to a “buy” rating and set a $64.00 price objective for the company in a report on Monday, January 6th. Wells Fargo & Co reissued a “hold” rating and set a $58.00 price objective on shares of Hartford Financial Services Group in a report on Monday, November 4th. Buckingham Research downgraded shares of Hartford Financial Services Group from a “buy” rating to a “neutral” rating and set a $63.00 price objective for the company. in a report on Wednesday. They noted that the move was a valuation call. Evercore ISI raised shares of Hartford Financial Services Group from an “in-line” rating to an “outperform” rating in a report on Wednesday, October 16th. Finally, ValuEngine downgraded shares of Hartford Financial Services Group from a “sell” rating to a “strong sell” rating in a report on Tuesday, December 3rd. One analyst has rated the stock with a sell rating, five have given a hold rating and seven have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $65.36.

In related news, EVP Jonathan R. Bennett sold 22,427 shares of the stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $61.80, for a total value of $1,385,988.60. Also, EVP David C. Robinson sold 4,856 shares of the firm’s stock in a transaction that occurred on Thursday, October 31st. The stock was sold at an average price of $56.86, for a total transaction of $276,112.16. Following the transaction, the executive vice president now directly owns 17,184 shares in the company, valued at $977,082.24. The disclosure for this sale can be found here. In the last ninety days, insiders sold 63,262 shares of company stock valued at $3,865,103. 1.70% of the stock is owned by insiders.

Shares of NYSE:HIG opened at $58.81 on Friday. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 0.28. Hartford Financial Services Group Inc has a 12 month low of $45.91 and a 12 month high of $62.75. The company has a 50-day moving average price of $60.56 and a 200 day moving average price of $59.46. The company has a market cap of $21.59 billion, a price-to-earnings ratio of 12.57, a PEG ratio of 1.15 and a beta of 0.63.

Hartford Financial Services Group (NYSE:HIG) last announced its quarterly earnings results on Monday, November 4th. The insurance provider reported $1.50 EPS for the quarter, beating the Zacks’ consensus estimate of $1.24 by $0.26. Hartford Financial Services Group had a net margin of 8.66% and a return on equity of 12.69%. The firm had revenue of $5.35 billion during the quarter, compared to the consensus estimate of $5.22 billion. During the same quarter last year, the firm earned $1.15 EPS. The firm’s revenue for the quarter was up 10.4% compared to the same quarter last year. As a group, equities analysts forecast that Hartford Financial Services Group Inc will post 5.55 EPS for the current year.

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.

Featured Article: Current Ratio

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

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