New Vernon Investment Management buys $5 Million stake in Hartford Financial Services Group Inc (HIG)

Hartford Financial Services Group Inc (HIG) : New Vernon Investment Management scooped up 4,343 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 May 13, 2016. The investment management firm now holds a total of 112,762 shares of Hartford Financial Services Group Inc which is valued at $5 Million.Hartford Financial Services Group Inc makes up approximately 4.32% of New Vernon Investment Management’s portfolio.

Other Hedge Funds, Including , Srb Corp boosted its stake in HIG in the latest quarter, The investment management firm added 143 additional shares and now holds a total of 3,306 shares of Hartford Financial Services Group Inc which is valued at $146,919. Hartford Financial Services Group Inc makes up approx 0.02% of Srb Corp’s portfolio.Bessemer Group Inc reduced its stake in HIG by selling 767 shares or 23.98% in the most recent quarter. The Hedge Fund company now holds 2,431 shares of HIG which is valued at $108,034.New York State Common Retirement Fund reduced its stake in HIG by selling 43,205 shares or 3.91% in the most recent quarter. The Hedge Fund company now holds 1,060,764 shares of HIG which is valued at $46.5 Million. Hartford Financial Services Group Inc makes up approx 0.07% of New York State Common Retirement Fund’s portfolio.Ntv Asset Management reduced its stake in HIG by selling 644 shares or 4.42% in the most recent quarter. The Hedge Fund company now holds 13,917 shares of HIG which is valued at $610,539. Hartford Financial Services Group Inc makes up approx 0.23% of Ntv Asset Management’s portfolio.

Hartford Financial Services Group Inc closed down -0.02 points or -0.04% at $45.45 with 20,55,249 shares getting traded on Wednesday. Post opening the session at $45.61, the shares hit an intraday low of $45.19 and an intraday high of $45.89 and the price fluctuated in this range throughout the day.Shares ended Wednesday session in Red.

On the company’s financial health, Hartford Financial Services Group Inc reported $0.78 EPS for the quarter, missing the analyst consensus estimate by $ -0.23 based on the information available during the earnings call on Apr 28, 2016. Analyst had a consensus of $1.01. The company had revenue of $4391.00 million for the quarter, compared to analysts expectations of $4703.50 million. The company’s revenue was down -4.9 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $1.08 EPS.

Investors should note that on May 19, 2016, Hartford Financial Services Group Inc announced a cash dividend of $0.2100. The company’s management has announced May 27, 2016 as the ex-dividend date and fixed the record date on Jun 1, 2016. The payable date has been fixed on Jul 1, 2016.

Many Wall Street Analysts have commented on Hartford Financial Services Group Inc. Hartford Financial Services Group Inc was Downgraded by Wells Fargo to ” Market Perform” on May 17, 2016. Company shares were Reiterated by RBC Capital Mkts on Apr 12, 2016 to “Sector Perform”, Firm has raised the Price Target to $ 47 from a previous price target of $40 .

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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