SG Americas Securities LLC Has $1.09 Million Stake in The Hartford Financial Services Group, Inc. (NYSE:HIG)

SG Americas Securities LLC lowered its stake in The Hartford Financial Services Group, Inc. (NYSE:HIG) by 91.9% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 9,227 shares of the insurance provider’s stock after selling 104,983 shares during the quarter. SG Americas Securities LLC’s holdings in The Hartford Financial Services Group were worth $1,085,000 as of its most recent SEC filing.

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

The Hartford Financial Services Group Trading Up 0.0 %

NYSE:HIG opened at $116.31 on Friday. 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 firm has a market cap of $34.40 billion, a price-to-earnings ratio of 13.22, a price-to-earnings-growth ratio of 0.94 and a beta of 0.93. The firm has a 50-day moving average price of $113.62 and a two-hundred day moving average price of $105.49. The Hartford Financial Services Group, Inc. has a 52 week low of $68.92 and a 52 week high of $119.06.

The Hartford Financial Services Group (NYSE:HIG) last issued its quarterly earnings results on Thursday, July 25th. The insurance provider reported $2.50 earnings per share (EPS) for the quarter, topping the consensus estimate 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 company had revenue of $6.49 billion during the quarter, compared to analyst estimates of $6.02 billion. During the same quarter last year, the business posted $1.88 EPS. The Hartford Financial Services Group’s quarterly revenue was up 7.2% compared to the same quarter last year. On average, equities analysts expect that The Hartford Financial Services Group, Inc. will post 10.09 earnings per share for the current fiscal year.

The Hartford Financial Services Group announced that its board has initiated a stock repurchase program on Thursday, July 25th that authorizes the company to buyback $3.30 billion in outstanding shares. This buyback authorization authorizes the insurance provider to reacquire up to 10.9% of its stock through open market purchases. Stock buyback programs are typically 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 was paid on Wednesday, October 2nd. Stockholders of record on Tuesday, September 3rd were given a $0.47 dividend. This represents a $1.88 annualized dividend and a dividend yield of 1.62%. The ex-dividend date of this dividend was Tuesday, September 3rd. The Hartford Financial Services Group’s dividend payout ratio (DPR) is currently 21.36%.

Analyst Ratings Changes

A number of equities analysts have issued reports on HIG shares. Royal Bank of Canada upped their target price on 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. Keefe, Bruyette & Woods boosted their price target on The Hartford Financial Services Group from $120.00 to $133.00 and gave the company an “outperform” rating in a research note on Thursday, August 1st. Argus raised shares of The Hartford Financial Services Group to a “strong-buy” rating in a research note on Friday, August 2nd. Barclays started coverage on The Hartford Financial Services Group in a report on Wednesday, September 4th. They set an “equal weight” rating and a $130.00 price objective for the company. Finally, Morgan Stanley cut 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 report on Wednesday, July 10th. Ten investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $118.94.

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.