Cambridge Investment Research Advisors Inc. Grows Holdings in The Hartford Financial Services Group, Inc. (NYSE:HIG)

Cambridge Investment Research Advisors Inc. increased its stake in The Hartford Financial Services Group, Inc. (NYSE:HIG) by 1.3% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 19,305 shares of the insurance provider’s stock after buying an additional 246 shares during the period. Cambridge Investment Research Advisors Inc.’s holdings in The Hartford Financial Services Group were worth $1,941,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Bailard Inc. increased its position in shares of The Hartford Financial Services Group by 0.5% in the 2nd quarter. Bailard Inc. now owns 19,378 shares of the insurance provider’s stock worth $1,948,000 after purchasing an additional 101 shares during the last quarter. Dorsey & Whitney Trust CO LLC increased its holdings in The Hartford Financial Services Group by 3.1% in the first quarter. Dorsey & Whitney Trust CO LLC now owns 3,736 shares of the insurance provider’s stock valued at $385,000 after buying an additional 114 shares during the last quarter. Covestor Ltd raised its stake in The Hartford Financial Services Group by 28.8% during the first quarter. Covestor Ltd now owns 519 shares of the insurance provider’s stock valued at $54,000 after buying an additional 116 shares in the last quarter. United Asset Strategies Inc. lifted its holdings in The Hartford Financial Services Group by 4.3% during the 1st quarter. United Asset Strategies Inc. now owns 2,931 shares of the insurance provider’s stock worth $302,000 after buying an additional 121 shares during the last quarter. Finally, EverSource Wealth Advisors LLC grew its position in shares of The Hartford Financial Services Group by 34.4% in the 1st quarter. EverSource Wealth Advisors LLC now owns 473 shares of the insurance provider’s stock worth $46,000 after acquiring an additional 121 shares in the last quarter. 93.42% of the stock is owned by institutional investors and hedge funds.

The Hartford Financial Services Group Stock Performance

Shares of HIG opened at $116.10 on Tuesday. The firm has a market capitalization of $34.34 billion, a PE ratio of 13.19, a P/E/G ratio of 0.93 and a beta of 0.92. The company has a quick ratio of 0.32, a current ratio of 0.32 and a debt-to-equity ratio of 0.28. The firm has a 50-day moving average price of $106.35 and a 200 day moving average price of $101.86. The Hartford Financial Services Group, Inc. has a 52-week low of $68.82 and a 52-week high of $116.51.

The Hartford Financial Services Group (NYSE:HIG) last posted its quarterly earnings data on Thursday, July 25th. The insurance provider reported $2.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.24 by $0.26. The Hartford Financial Services Group had a net margin of 11.44% and a return on equity of 21.20%. The business had revenue of $6.49 billion during the quarter, compared to analysts’ expectations of $6.02 billion. During the same period last year, the firm posted $1.88 earnings per share. The business’s revenue was up 7.2% on a year-over-year basis. On average, sell-side analysts anticipate that The Hartford Financial Services Group, Inc. will post 10.09 earnings per share for the current fiscal year.

The Hartford Financial Services Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 2nd. Shareholders of record on Tuesday, September 3rd will be given a $0.47 dividend. This represents a $1.88 annualized dividend and a yield of 1.62%. The ex-dividend date is Tuesday, September 3rd. The Hartford Financial Services Group’s dividend payout ratio (DPR) is presently 21.36%.

The Hartford Financial Services Group announced that its board has authorized a stock repurchase program on Thursday, July 25th that authorizes the company to buyback $3.30 billion in shares. This buyback authorization authorizes the insurance provider to repurchase up to 10.9% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on HIG shares. Keefe, Bruyette & Woods upped their price target on The Hartford Financial Services Group from $120.00 to $133.00 and gave the company an “outperform” rating in a research report on Thursday, August 1st. Royal Bank of Canada increased their target price on shares of The Hartford Financial Services Group from $105.00 to $115.00 and gave the stock a “sector perform” rating in a report on Monday, July 29th. Morgan Stanley decreased their price target on shares of The Hartford Financial Services Group from $109.00 to $107.00 and set an “equal weight” rating for the company in a report on Wednesday, July 10th. JPMorgan Chase & Co. increased their price objective on shares of The Hartford Financial Services Group from $104.00 to $116.00 and gave the stock a “neutral” rating in a research note on Thursday, July 11th. Finally, Bank of America cut their target price on shares of The Hartford Financial Services Group from $113.00 to $111.00 and set a “buy” rating on the stock in a report on Thursday, July 11th. Eight research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, The Hartford Financial Services Group has an average rating of “Moderate Buy” and an average target price of $110.88.

Insiders Place Their Bets

In other news, EVP Michael R. Fisher sold 4,088 shares of The Hartford Financial Services Group stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $101.47, for a total value of $414,809.36. Following the transaction, the executive vice president now owns 14,818 shares of the company’s stock, valued at approximately $1,503,582.46. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.60% of the stock is owned by company insiders.

About The Hartford Financial Services Group

The Hartford Financial Services Group, Inc, together with its subsidiaries, provides insurance and financial services to individual and business customers in the United States, the United Kingdom, and internationally. Its Commercial Lines segment offers insurance coverages, including workers' compensation, property, automobile, general and professional liability, package business, umbrella, fidelity and surety, marine, livestock, accident, health, and reinsurance through regional offices, branches, sales and policyholder service centers, independent retail agents and brokers, wholesale agents, and reinsurance brokers.