The Hartford Financial Services Group, Inc. (NYSE:HIG) Shares Sold by First Financial Bank Trust Division

First Financial Bank Trust Division cut its position in shares of The Hartford Financial Services Group, Inc. (NYSE:HIG) by 3.5% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 87,260 shares of the insurance provider’s stock after selling 3,171 shares during the quarter. The Hartford Financial Services Group makes up 0.9% of First Financial Bank Trust Division’s portfolio, making the stock its 26th largest holding. First Financial Bank Trust Division’s holdings in The Hartford Financial Services Group were worth $10,263,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Hotchkis & Wiley Capital Management LLC grew its holdings in The Hartford Financial Services Group by 26.2% in the fourth quarter. Hotchkis & Wiley Capital Management LLC now owns 6,119,863 shares of the insurance provider’s stock valued at $491,915,000 after purchasing an additional 1,272,290 shares during the period. Dimensional Fund Advisors LP grew its stake in 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 acquiring an additional 69,007 shares during the period. Northern Trust Corp increased its holdings in The Hartford Financial Services Group by 0.5% in the 4th quarter. Northern Trust Corp now owns 3,381,943 shares of the insurance provider’s stock worth $271,841,000 after acquiring an additional 18,419 shares in the last quarter. Nordea Investment Management AB raised its position in The Hartford Financial Services Group by 7.9% during the first quarter. Nordea Investment Management AB now owns 3,191,914 shares of the insurance provider’s stock worth $328,320,000 after acquiring an additional 233,742 shares during the period. Finally, AQR Capital Management LLC lifted its holdings in The Hartford Financial Services Group by 4.9% during the second quarter. AQR Capital Management LLC now owns 1,497,960 shares of the insurance provider’s stock valued at $150,605,000 after purchasing an additional 70,018 shares in the last quarter. Institutional investors and hedge funds own 93.42% of the company’s stock.

The Hartford Financial Services Group Trading Down 0.3 %

NYSE HIG opened at $117.58 on Thursday. The Hartford Financial Services Group, Inc. has a one year low of $68.82 and a one year high of $119.06. The firm has a 50 day simple moving average of $112.90 and a 200-day simple moving average of $104.94. The firm has a market cap of $34.77 billion, a price-to-earnings ratio of 13.36, a PEG ratio of 0.94 and a beta of 0.93. 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 announced 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 business had revenue of $6.49 billion for the quarter, compared to analysts’ expectations of $6.02 billion. The Hartford Financial Services Group had a return on equity of 21.20% and a net margin of 11.44%. The company’s revenue for the quarter was up 7.2% compared to the same quarter last year. During the same period last year, the firm earned $1.88 earnings per share. 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 announced that its Board of Directors has authorized a stock buyback 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 reacquire up to 10.9% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.

The Hartford Financial Services Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 2nd. Stockholders of record on Tuesday, September 3rd were given a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a dividend yield of 1.60%. The ex-dividend date was Tuesday, September 3rd. The Hartford Financial Services Group’s dividend payout ratio is presently 21.36%.

Wall Street Analyst Weigh In

A number of research firms have recently commented on HIG. Barclays started coverage on shares of The Hartford Financial Services Group in a research note on Wednesday, September 4th. They set an “equal weight” rating and a $130.00 target price for the company. Keefe, Bruyette & Woods boosted their price objective on The Hartford Financial Services Group from $120.00 to $133.00 and gave the stock an “outperform” rating in a research note on Thursday, August 1st. JPMorgan Chase & Co. raised their target price on The Hartford Financial Services Group from $104.00 to $116.00 and gave the company a “neutral” rating in a research report on Thursday, July 11th. Citigroup downgraded The Hartford Financial Services Group from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $116.00 to $114.00 in a research note on Friday, June 28th. Finally, Morgan Stanley lowered their target price 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 note on Wednesday, July 10th. Nine research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently 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.