Private Management Group Inc Lowers stake in Hartford Financial Services Group Inc (HIG)

Hartford Financial Services Group Inc (HIG) : Private Management Group Inc reduced its stake in Hartford Financial Services Group Inc by 1.99% during the most recent quarter end. The investment management company now holds a total of 729,148 shares of Hartford Financial Services Group Inc which is valued at $29,231,543 after selling 14,816 shares in Hartford Financial Services Group Inc , the firm said in a disclosure report filed with the SEC on Aug 11, 2016.Hartford Financial Services Group Inc makes up approximately 1.87% of Private Management Group Inc’s portfolio.

Other Hedge Funds, Including , Picton Mahoney Asset Management reduced its stake in HIG by selling 13,400 shares or 33.5% in the most recent quarter. The Hedge Fund company now holds 26,600 shares of HIG which is valued at $1,066,394. Hartford Financial Services Group Inc makes up approx 0.07% of Picton Mahoney Asset Management’s portfolio.Blackrock Investment Management reduced its stake in HIG by selling 187,443 shares or 8.68% in the most recent quarter. The Hedge Fund company now holds 1,973,019 shares of HIG which is valued at $79,098,332. Hartford Financial Services Group Inc makes up approx 0.10% of Blackrock Investment Management’s portfolio.Private Advisor Group boosted its stake in HIG in the latest quarter, The investment management firm added 3,628 additional shares and now holds a total of 10,714 shares of Hartford Financial Services Group Inc which is valued at $435,310. Hartford Financial Services Group Inc makes up approx 0.02% of Private Advisor Group’s portfolio.Stoneridge Investment Partners reduced its stake in HIG by selling 1,838 shares or 1.28% in the most recent quarter. The Hedge Fund company now holds 142,186 shares of HIG which is valued at $6,229,169. Hartford Financial Services Group Inc makes up approx 0.88% of Stoneridge Investment Partners’s portfolio.

Hartford Financial Services Group Inc closed down -0.26 points or -0.64% at $40.12 with 24,61,841 shares getting traded on Tuesday. Post opening the session at $40.43, the shares hit an intraday low of $40.1 and an intraday high of $40.55 and the price fluctuated in this range throughout the day.Shares ended Tuesday session in Red.

On the company’s financial health, Hartford Financial Services Group Inc reported $0.31 EPS for the quarter, missing the analyst consensus estimate by $ -0.49 based on the information available during the earnings call on Jul 28, 2016. Analyst had a consensus of $0.80. The company had revenue of $4677.00 million for the quarter, compared to analysts expectations of $4853.00 million. The company’s revenue was down -.2 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.91 EPS.

Many Wall Street Analysts have commented on Hartford Financial Services Group Inc. Company shares were Reiterated by Mizuho on Aug 11, 2016 to “Buy”, Firm has raised the Price Target to $ 50 from a previous price target of $47 .Shares were Reiterated by FBR Capital on Aug 10, 2016 to “Outperform” and Lowered the Price Target to $ 47 from a previous price target of $50 .Shares were Reiterated by MKM Partners on Jul 29, 2016 to “Buy” and Lowered the Price Target to $ 50 from a previous price target of $55 .

The Hartford Financial Services Group Inc. (The Hartford) is an insurance and financial services holding company. The Hartford is a provider of property and casualty insurance and group life and disability products to individual and business customers in the United States of America. It is also a provider of mutual funds to investors and additionally The Hartford manages life and annuity products. The Hartford conducts business principally in six segments including Commercial Lines (formerly Property & Casualty Commercial) Personal Lines (formerly Consumer Markets) Property & Casualty Other Operations Group Benefits Mutual Funds and Talcott Resolution as well as a Corporate category. The Hartford includes in its Corporate category the Company’s debt financing and related interest expense as well as other capital raising activities and purchase accounting adjustments related to goodwill and other expenses not allocated to other segments.

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