Putnam Investments buys $204,977,007 stake in Hartford Financial Services Group Inc (HIG)

Hartford Financial Services Group Inc (HIG) : Putnam Investments scooped up 744,289 additional shares in Hartford Financial Services Group Inc during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Nov 14, 2016. The investment management firm now holds a total of 4,276,591 shares of Hartford Financial Services Group Inc which is valued at $204,977,007.Hartford Financial Services Group Inc makes up approximately 0.50% of Putnam Investments’s portfolio.

Other Hedge Funds, Including , Ahl Partners Llp boosted its stake in HIG in the latest quarter, The investment management firm added 97,717 additional shares and now holds a total of 121,006 shares of Hartford Financial Services Group Inc which is valued at $5,799,818. Hartford Financial Services Group Inc makes up approx 0.21% of Ahl Partners Llp’s portfolio.Alliancebernstein reduced its stake in HIG by selling 688,101 shares or 47.92% in the most recent quarter. The Hedge Fund company now holds 747,770 shares of HIG which is valued at $34,621,751. Hartford Financial Services Group Inc makes up approx 0.03% of Alliancebernstein’s portfolio.Evercore Trust Company N.a. reduced its stake in HIG by selling 151,461 shares or 3.1% in the most recent quarter. The Hedge Fund company now holds 4,733,921 shares of HIG which is valued at $219,180,542. Hartford Financial Services Group Inc makes up approx 0.72% of Evercore Trust Company N.a.’s portfolio.Vaughan Nelson Investment Management boosted its stake in HIG in the latest quarter, The investment management firm added 124,640 additional shares and now holds a total of 1,025,040 shares of Hartford Financial Services Group Inc which is valued at $43,779,458. Hartford Financial Services Group Inc makes up approx 0.53% of Vaughan Nelson Investment Management’s portfolio.

Hartford Financial Services Group Inc opened for trading at $46.93 and hit $47.36 on the upside on Monday, eventually ending the session at $47.25, with a gain of 0.60% or 0.28 points. The heightened volatility saw the trading volume jump to 16,66,546 shares. Company has a market cap of $17,848 M.

On the company’s financial health, Hartford Financial Services Group Inc reported $1.06 EPS for the quarter, beating the analyst consensus estimate by $ 0.11 according to the earnings call on Oct 27, 2016. Analyst had a consensus of $0.95. The company had revenue of $4695.00 million for the quarter, compared to analysts expectations of $4733.83 million. The company’s revenue was up 2.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.86 EPS.

Investors should note that on Oct 27, 2016, Hartford Financial Services Group Inc announced a cash dividend of $0.2300. The company’s management has announced Nov 29, 2016 as the ex-dividend date and fixed the record date on Dec 1, 2016. The payable date has been fixed on Jan 3, 2017.

Many Wall Street Analysts have commented on Hartford Financial Services Group Inc. Hartford Financial Services Group Inc was Downgraded by BofA/Merrill to ” Neutral” on Nov 16, 2016.

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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