One Capital Management LLC Buys New Holdings in The Hartford Financial Services Group, Inc. (NYSE:HIG)

One Capital Management LLC purchased a new position in shares of The Hartford Financial Services Group, Inc. (NYSE:HIG) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 2,019 shares of the insurance provider’s stock, valued at approximately $203,000.

A number of other large investors also recently modified their holdings of the company. ING Groep NV acquired a new position in shares of The Hartford Financial Services Group during the 4th quarter valued at $1,340,000. Norges Bank purchased a new stake in shares of The Hartford Financial Services Group in the fourth quarter worth about $278,704,000. BI Asset Management Fondsmaeglerselskab A S grew its stake in shares of The Hartford Financial Services Group by 26.1% in the fourth quarter. BI Asset Management Fondsmaeglerselskab A S now owns 8,819 shares of the insurance provider’s stock valued at $709,000 after buying an additional 1,825 shares in the last quarter. D.A. Davidson & CO. raised its holdings in shares of The Hartford Financial Services Group by 2.0% during the 4th quarter. D.A. Davidson & CO. now owns 19,284 shares of the insurance provider’s stock valued at $1,550,000 after buying an additional 378 shares during the period. Finally, Franklin Resources Inc. lifted its position in The Hartford Financial Services Group by 6.1% during the 4th quarter. Franklin Resources Inc. now owns 2,236,115 shares of the insurance provider’s stock worth $179,729,000 after acquiring an additional 129,120 shares in the last quarter. 93.42% of the stock is currently owned by hedge funds and other institutional investors.

The Hartford Financial Services Group Trading Down 0.3 %

The Hartford Financial Services Group stock opened at $116.70 on Thursday. The Hartford Financial Services Group, Inc. has a 1 year low of $68.82 and a 1 year high of $117.84. The firm’s 50-day moving average is $110.04 and its 200-day moving average is $103.60. 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 company has a market cap of $34.51 billion, a P/E ratio of 13.26, a PEG ratio of 0.91 and a beta of 0.93.

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

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

The Hartford Financial Services Group Dividend Announcement

The business also recently announced 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 1.61%. The ex-dividend date is Tuesday, September 3rd. The Hartford Financial Services Group’s dividend payout ratio is presently 21.36%.

Insider Buying and Selling at The Hartford Financial Services Group

In other news, EVP Michael R. Fisher sold 4,088 shares of the company’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $101.47, for a total transaction of $414,809.36. Following the completion of the transaction, the executive vice president now owns 14,818 shares in the company, valued at $1,503,582.46. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.60% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several analysts have issued reports on HIG shares. Piper Sandler lifted their price objective on shares of The Hartford Financial Services Group from $112.00 to $125.00 and gave the company an “overweight” rating in a research note on Monday, July 29th. Citigroup lowered shares of The Hartford Financial Services Group from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $116.00 to $114.00 in a report on Friday, June 28th. The Goldman Sachs Group raised 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. Wells Fargo & Company boosted their price target on The Hartford Financial Services Group from $122.00 to $134.00 and gave the stock an “overweight” rating in a research note on Tuesday. Finally, Bank of America lowered their price objective on The Hartford Financial Services Group from $113.00 to $111.00 and set a “buy” rating for the company in a research note on Thursday, July 11th. Nine research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $113.22.

The Hartford Financial Services Group 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.