Sienna Gestion Has $5.12 Million Position in The Hartford Financial Services Group, Inc. (NYSE:HIG)

Sienna Gestion raised its position in The Hartford Financial Services Group, Inc. (NYSE:HIG) by 1,439.0% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 50,896 shares of the insurance provider’s stock after purchasing an additional 47,589 shares during the period. Sienna Gestion’s holdings in The Hartford Financial Services Group were worth $5,115,000 as of its most recent filing with the SEC.

Other hedge funds also recently bought and sold shares of the company. New Covenant Trust Company N.A. bought a new stake in shares of The Hartford Financial Services Group in the 1st quarter valued at $26,000. Quest Partners LLC increased its holdings in shares of The Hartford Financial Services Group by 2,750.0% in the second quarter. Quest Partners LLC now owns 285 shares of the insurance provider’s stock worth $29,000 after acquiring an additional 275 shares in the last quarter. Bank & Trust Co acquired a new stake in shares of The Hartford Financial Services Group during the second quarter worth about $30,000. Family Firm Inc. bought a new position in shares of The Hartford Financial Services Group during the 2nd quarter valued at about $31,000. Finally, Benjamin Edwards Inc. bought a new position in shares of The Hartford Financial Services Group during the 1st quarter valued at about $35,000. 93.42% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at The Hartford Financial Services Group

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 stock was 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 directly owns 14,818 shares in the company, valued at approximately $1,503,582.46. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 1.60% of the company’s stock.

Analyst Ratings Changes

HIG has been the topic of several research analyst reports. JPMorgan Chase & Co. raised their target price on shares of The Hartford Financial Services Group from $104.00 to $116.00 and gave the stock a “neutral” rating in a report on Thursday, July 11th. Royal Bank of Canada raised their price objective 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 cut their price objective on shares of 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. Piper Sandler increased their target price on The Hartford Financial Services Group from $112.00 to $125.00 and gave the stock an “overweight” rating in a report on Monday, July 29th. Finally, The Goldman Sachs Group boosted their price target on The Hartford Financial Services Group from $105.00 to $111.00 and gave the company a “buy” rating in a report on Thursday, June 13th. Nine equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, The Hartford Financial Services Group has an average rating of “Moderate Buy” and a consensus price target of $113.22.

The Hartford Financial Services Group Trading Down 0.3 %

NYSE HIG opened at $116.70 on Thursday. The Hartford Financial Services Group, Inc. has a 12 month low of $68.82 and a 12 month high of $117.84. The company has a current ratio of 0.32, a quick ratio of 0.32 and a debt-to-equity ratio of 0.28. The stock has a 50 day moving average of $110.04 and a 200-day moving average of $103.60. The company has a market cap of $34.51 billion, a PE ratio of 13.26, a PEG ratio of 0.91 and a beta of 0.93.

The Hartford Financial Services Group (NYSE:HIG) last announced its quarterly earnings results on Thursday, July 25th. The insurance provider reported $2.50 EPS for the quarter, beating analysts’ consensus estimates of $2.24 by $0.26. The firm had revenue of $6.49 billion during 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 company’s revenue for the quarter was up 7.2% compared to the same quarter last year. During the same quarter last year, the company posted $1.88 earnings per share. On average, equities research analysts anticipate that The Hartford Financial Services Group, Inc. will post 10.09 EPS for the current fiscal year.

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

The Hartford Financial Services Group Announces Dividend

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 dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a yield of 1.61%. The ex-dividend date of this dividend is Tuesday, September 3rd. The Hartford Financial Services Group’s dividend payout ratio (DPR) is presently 21.36%.

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.