Citizens Financial Group Inc. RI Has $736,000 Stock Holdings in The Hartford Financial Services Group, Inc. (NYSE:HIG)

Citizens Financial Group Inc. RI grew its position in The Hartford Financial Services Group, Inc. (NYSE:HIG) by 39.6% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 7,288 shares of the insurance provider’s stock after buying an additional 2,068 shares during the period. Citizens Financial Group Inc. RI’s holdings in The Hartford Financial Services Group were worth $736,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the company. One Capital Management LLC acquired a new position in The Hartford Financial Services Group in the second quarter valued at about $203,000. Dimensional Fund Advisors LP grew its position in shares of The Hartford Financial Services Group by 1.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 5,809,358 shares of the insurance provider’s stock valued at $584,177,000 after purchasing an additional 69,007 shares during the period. Brown Brothers Harriman & Co. lifted its stake in The Hartford Financial Services Group by 3,770.8% in the second quarter. Brown Brothers Harriman & Co. now owns 8,477 shares of the insurance provider’s stock valued at $852,000 after buying an additional 8,258 shares in the last quarter. Plato Investment Management Ltd boosted its holdings in shares of The Hartford Financial Services Group by 2.8% in the second quarter. Plato Investment Management Ltd now owns 18,458 shares of the insurance provider’s stock valued at $1,856,000 after buying an additional 497 shares during the period. Finally, Envestnet Asset Management Inc. increased its position in shares of The Hartford Financial Services Group by 7.8% during the second quarter. Envestnet Asset Management Inc. now owns 561,488 shares of the insurance provider’s stock worth $56,452,000 after acquiring an additional 40,778 shares in the last quarter. Institutional investors own 93.42% of the company’s stock.

The Hartford Financial Services Group Stock Up 0.4 %

The Hartford Financial Services Group stock opened at $117.07 on Wednesday. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.32 and a quick ratio of 0.32. The company’s 50-day moving average is $109.71 and its 200-day moving average is $103.50. The firm has a market capitalization of $34.62 billion, a PE ratio of 13.30, a P/E/G ratio of 0.91 and a beta of 0.93. The Hartford Financial Services Group, Inc. has a fifty-two week low of $68.82 and a fifty-two week high of $117.68.

The Hartford Financial Services Group (NYSE:HIG) last released 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 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 analyst estimates of $6.02 billion. During the same quarter in the prior year, the company earned $1.88 earnings per share. The business’s revenue for the quarter was up 7.2% compared to the same quarter last year. Sell-side analysts anticipate that The Hartford Financial Services Group, Inc. will post 10.09 earnings per share for the current year.

The Hartford Financial Services Group declared that its Board of Directors has approved a share repurchase plan on Thursday, July 25th that permits the company to repurchase $3.30 billion in outstanding shares. This repurchase authorization permits the insurance provider to purchase up to 10.9% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board of directors believes its stock is undervalued.

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 issued a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a yield of 1.61%. The ex-dividend date is Tuesday, September 3rd. The Hartford Financial Services Group’s dividend payout ratio is 21.36%.

Insiders Place Their Bets

In other news, EVP Michael R. Fisher sold 4,088 shares of the stock in a transaction dated 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 directly owns 14,818 shares of the company’s stock, valued at $1,503,582.46. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 1.60% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently weighed in on HIG shares. Argus raised shares of The Hartford Financial Services Group to a “strong-buy” rating in a research note on Friday, August 2nd. Wells Fargo & Company upped their price objective on The Hartford Financial Services Group from $122.00 to $134.00 and gave the stock an “overweight” rating in a research report on Tuesday. Morgan Stanley dropped their target price on The Hartford Financial Services Group from $109.00 to $107.00 and set an “equal weight” rating on the stock in a research report on Wednesday, July 10th. The Goldman Sachs Group boosted their target price on The Hartford Financial Services Group from $105.00 to $111.00 and gave the company a “buy” rating in a research note on Thursday, June 13th. Finally, Piper Sandler raised their price target on shares of The Hartford Financial Services Group from $112.00 to $125.00 and gave the stock an “overweight” rating in a research note on Monday, July 29th. Nine investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, The Hartford Financial Services Group currently has an average rating of “Moderate Buy” and a consensus target price of $113.22.

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.