The Hartford Financial Services Group, Inc. (NYSE:HIG) Position Increased by Commonwealth Equity Services LLC

Commonwealth Equity Services LLC lifted its position in shares of The Hartford Financial Services Group, Inc. (NYSE:HIG) by 4.2% in the 2nd quarter, Holdings Channel reports. The fund owned 97,868 shares of the insurance provider’s stock after buying an additional 3,924 shares during the period. Commonwealth Equity Services LLC’s holdings in The Hartford Financial Services Group were worth $9,840,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of the company. New Covenant Trust Company N.A. acquired a new stake in The Hartford Financial Services Group in the first quarter worth about $26,000. Cape Investment Advisory Inc. lifted its holdings in The Hartford Financial Services Group by 189.9% in the fourth quarter. Cape Investment Advisory Inc. now owns 374 shares of the insurance provider’s stock worth $30,000 after purchasing an additional 245 shares during the period. Bank & Trust Co acquired a new stake in The Hartford Financial Services Group in the second quarter worth about $30,000. First United Bank & Trust acquired a new stake in The Hartford Financial Services Group in the fourth quarter worth about $31,000. Finally, Family Firm Inc. acquired a new stake in The Hartford Financial Services Group in the second quarter worth about $31,000. Institutional investors own 93.42% of the company’s stock.

Insider Buying and Selling

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

The Hartford Financial Services Group Trading Down 0.8 %

NYSE:HIG opened at $115.08 on Friday. The stock’s 50 day moving average price is $107.12 and its 200 day moving average price is $102.21. The Hartford Financial Services Group, Inc. has a 52 week low of $68.82 and a 52 week high of $117.46. The company has a market capitalization of $34.04 billion, a P/E ratio of 13.08, a P/E/G ratio of 0.93 and a beta of 0.92. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.32 and a current ratio of 0.32.

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

The Hartford Financial Services Group announced that its board has authorized a stock repurchase plan on Thursday, July 25th that allows the company to repurchase $3.30 billion in shares. This repurchase authorization allows the insurance provider to repurchase up to 10.9% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s management believes its shares are undervalued.

The Hartford Financial Services Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 2nd. Investors of record on Tuesday, September 3rd will be issued a $0.47 dividend. The ex-dividend date of this dividend is Tuesday, September 3rd. This represents a $1.88 dividend on an annualized basis and a yield of 1.63%. The Hartford Financial Services Group’s dividend payout ratio is currently 21.36%.

Analyst Ratings Changes

Several equities research analysts recently weighed in on HIG shares. Argus raised shares of The Hartford Financial Services Group to a “strong-buy” rating in a report on Friday, August 2nd. Citigroup downgraded shares of The Hartford Financial Services Group from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $116.00 to $114.00 in a report on Friday, June 28th. Piper Sandler upped their price target on shares of The Hartford Financial Services Group from $112.00 to $125.00 and gave the company an “overweight” rating in a report on Monday, July 29th. Barclays initiated coverage on shares of The Hartford Financial Services Group in a report on Wednesday. They issued an “equal weight” rating and a $130.00 price target for the company. Finally, Royal Bank of Canada upped their price target on shares of The Hartford Financial Services Group from $105.00 to $115.00 and gave the company a “sector perform” rating in a report on Monday, July 29th. Nine equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $111.94.

The Hartford Financial Services Group Company Profile

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.