The Hartford Financial Services Group, Inc. (NYSE:HIG) Shares Sold by Toronto Dominion Bank

Toronto Dominion Bank cut its position in The Hartford Financial Services Group, Inc. (NYSE:HIG) by 17.2% during the 2nd quarter, HoldingsChannel reports. The firm owned 146,151 shares of the insurance provider’s stock after selling 30,316 shares during the quarter. Toronto Dominion Bank’s holdings in The Hartford Financial Services Group were worth $14,694,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently bought and sold shares of the company. Bailard Inc. lifted its position in 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 valued at $1,948,000 after purchasing an additional 101 shares during the last quarter. Dorsey & Whitney Trust CO LLC lifted its position in The Hartford Financial Services Group by 3.1% in the 1st quarter. Dorsey & Whitney Trust CO LLC now owns 3,736 shares of the insurance provider’s stock valued at $385,000 after purchasing an additional 114 shares during the last quarter. Covestor Ltd lifted its position in The Hartford Financial Services Group by 28.8% in the 1st quarter. Covestor Ltd now owns 519 shares of the insurance provider’s stock valued at $54,000 after purchasing an additional 116 shares during the last quarter. EverSource Wealth Advisors LLC lifted its position in 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 valued at $46,000 after purchasing an additional 121 shares during the last quarter. Finally, Avantax Advisory Services Inc. lifted its position in The Hartford Financial Services Group by 2.8% in the 1st quarter. Avantax Advisory Services Inc. now owns 4,543 shares of the insurance provider’s stock valued at $468,000 after purchasing an additional 122 shares during the last quarter. 93.42% of the stock is currently owned by institutional investors.

Insider Activity at The Hartford Financial Services Group

In related news, EVP Michael R. Fisher sold 4,088 shares of the business’s stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $101.47, for a total transaction 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 accessible through the SEC website. 1.60% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of analysts have commented on the stock. Argus upgraded shares of The Hartford Financial Services Group to a “strong-buy” rating in a research report on Friday, August 2nd. Wells Fargo & Company boosted their price target on shares of The Hartford Financial Services Group from $122.00 to $134.00 and gave the stock an “overweight” rating in a research report on Tuesday, September 17th. Barclays assumed coverage on shares of The Hartford Financial Services Group in a research report on Wednesday, September 4th. They set an “equal weight” rating and a $130.00 price target on the stock. Morgan Stanley dropped their price target 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. Finally, Royal Bank of Canada boosted their price target on shares of The Hartford Financial Services Group from $105.00 to $115.00 and gave the stock a “sector perform” rating in a research report on Monday, July 29th. Nine analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $113.22.

The Hartford Financial Services Group Stock Performance

The Hartford Financial Services Group stock opened at $116.77 on Friday. The firm’s 50 day simple moving average is $111.64 and its 200-day simple moving average is $104.38. The company has a market cap of $34.54 billion, a P/E ratio of 13.27, a price-to-earnings-growth ratio of 0.94 and a beta of 0.93. 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 Hartford Financial Services Group, Inc. has a fifty-two week low of $68.82 and a fifty-two week high of $117.84.

The Hartford Financial Services Group (NYSE:HIG) last announced its quarterly earnings data 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 Hartford Financial Services Group had a net margin of 11.44% and a return on equity of 21.20%. The firm had revenue of $6.49 billion for the quarter, compared to the consensus estimate of $6.02 billion. During the same period in the previous year, the firm posted $1.88 earnings per share. The firm’s revenue was up 7.2% on a year-over-year basis. As a group, equities research analysts predict that The Hartford Financial Services Group, Inc. will post 10.09 EPS for the current year.

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

The Hartford Financial Services Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 2nd. Investors 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 payout ratio 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.