BlueCrest Capital Management Ltd Takes $2.72 Million Position in The Hartford (HIG)

BlueCrest Capital Management Ltd bought a new stake in The Hartford (NYSE:HIG) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 48,348 shares of the insurance provider’s stock, valued at approximately $2,721,000.

Other hedge funds also recently modified their holdings of the company. First Manhattan Co. boosted its stake in The Hartford by 103.2% in the fourth quarter. First Manhattan Co. now owns 1,969 shares of the insurance provider’s stock valued at $110,000 after acquiring an additional 1,000 shares during the period. Cerebellum GP LLC acquired a new position in The Hartford in the fourth quarter valued at approximately $129,000. Delpha Capital Management LLC acquired a new position in The Hartford in the fourth quarter valued at approximately $157,000. Focused Wealth Management Inc acquired a new position in The Hartford in the fourth quarter valued at approximately $189,000. Finally, Sheaff Brock Investment Advisors LLC acquired a new position in The Hartford in the fourth quarter valued at approximately $200,000. Institutional investors own 89.87% of the company’s stock.

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A number of brokerages have commented on HIG. Zacks Investment Research downgraded The Hartford from a “buy” rating to a “hold” rating in a research note on Tuesday, March 13th. Wells Fargo set a $56.00 price objective on The Hartford and gave the stock a “hold” rating in a research report on Friday, February 9th. ValuEngine upgraded The Hartford from a “hold” rating to a “buy” rating in a research report on Friday, February 2nd. Citigroup assumed coverage on The Hartford in a research report on Wednesday, December 20th. They set a “neutral” rating and a $59.00 price objective for the company. Finally, Credit Suisse Group upgraded The Hartford from a “neutral” rating to an “outperform” rating and set a $65.00 price objective for the company in a research report on Tuesday, December 19th. Seven investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $58.92.

In other The Hartford news, EVP David C. Robinson sold 868 shares of the company’s stock in a transaction that occurred on Monday, March 5th. The stock was sold at an average price of $51.39, for a total value of $44,606.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Scott R. Lewis sold 2,319 shares of the company’s stock in a transaction that occurred on Wednesday, March 7th. The stock was sold at an average price of $53.87, for a total value of $124,924.53. Following the completion of the sale, the senior vice president now owns 16,187 shares of the company’s stock, valued at $871,993.69. The disclosure for this sale can be found here. Corporate insiders own 1.50% of the company’s stock.

HIG traded down $1.06 during trading on Monday, reaching $50.46. The stock had a trading volume of 2,304,701 shares, compared to its average volume of 2,471,887. The company has a market capitalization of $18,391.68, a price-to-earnings ratio of 18.42, a price-to-earnings-growth ratio of 1.23 and a beta of 0.97. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.26 and a quick ratio of 0.26. The Hartford has a 1-year low of $46.69 and a 1-year high of $59.20.

The Hartford (NYSE:HIG) last released its earnings results on Thursday, February 8th. The insurance provider reported $0.81 earnings per share for the quarter, topping analysts’ consensus estimates of $0.77 by $0.04. The firm had revenue of $4.54 billion during the quarter, compared to the consensus estimate of $4.54 billion. The Hartford had a positive return on equity of 7.89% and a negative net margin of 16.79%. The firm’s revenue for the quarter was up 14.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.08 earnings per share. equities analysts expect that The Hartford will post 4.4 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Monday, April 2nd. Shareholders of record on Monday, March 5th will be given a $0.25 dividend. The ex-dividend date of this dividend is Friday, March 2nd. This represents a $1.00 dividend on an annualized basis and a yield of 1.98%. The Hartford’s dividend payout ratio (DPR) is 36.50%.

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The Hartford Company Profile

The Hartford Financial Services Group, Inc, through its subsidiaries, provides insurance and financial services to individual and business customers in the United States. It operates through five segments: Commercial Lines, Personal Lines, Property & Casualty Other Operations, Group Benefits, and Mutual Funds.

Institutional Ownership by Quarter for The Hartford (NYSE:HIG)

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