1,801 Shares in The Hartford Financial Services Group, Inc. (NYSE:HIG) Purchased by Valeo Financial Advisors LLC

Valeo Financial Advisors LLC purchased a new position in The Hartford Financial Services Group, Inc. (NYSE:HIG) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 1,801 shares of the insurance provider’s stock, valued at approximately $212,000.

Several other institutional investors also recently modified their holdings of HIG. Dimensional Fund Advisors LP increased its stake in The Hartford Financial Services Group by 1.2% during 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 purchasing an additional 69,007 shares in the last quarter. Nordea Investment Management AB increased its stake in The Hartford Financial Services Group by 7.9% during the 1st quarter. Nordea Investment Management AB now owns 3,191,914 shares of the insurance provider’s stock valued at $328,320,000 after purchasing an additional 233,742 shares in the last quarter. AQR Capital Management LLC grew its stake in shares of The Hartford Financial Services Group by 4.9% in the second quarter. AQR Capital Management LLC now owns 1,497,960 shares of the insurance provider’s stock worth $150,605,000 after acquiring an additional 70,018 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its stake in shares of The Hartford Financial Services Group by 2.4% in the second quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 1,367,400 shares of the insurance provider’s stock worth $137,478,000 after acquiring an additional 31,806 shares during the period. Finally, Bahl & Gaynor Inc. grew its stake in shares of The Hartford Financial Services Group by 3.4% in the second quarter. Bahl & Gaynor Inc. now owns 1,229,133 shares of the insurance provider’s stock worth $123,577,000 after acquiring an additional 40,400 shares during the period. 93.42% of the stock is currently owned by institutional investors.

The Hartford Financial Services Group Stock Performance

HIG opened at $118.57 on Wednesday. The firm has a market cap of $35.07 billion, a P/E ratio of 13.47, a PEG ratio of 0.96 and a beta of 0.93. The Hartford Financial Services Group, Inc. has a 1-year low of $68.92 and a 1-year high of $120.36. The company has a 50 day simple moving average of $114.48 and a two-hundred day simple moving average of $105.96. 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 (NYSE:HIG) last posted its quarterly earnings results on Thursday, July 25th. The insurance provider reported $2.50 earnings per share for the quarter, topping analysts’ consensus estimates of $2.24 by $0.26. The business had revenue of $6.49 billion during the quarter, compared to analyst estimates 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 was up 7.2% on a year-over-year basis. During the same period in the prior year, the business posted $1.88 earnings per share. Equities analysts forecast that The Hartford Financial Services Group, Inc. will post 10.09 earnings per share for the current fiscal year.

The Hartford Financial Services Group declared that its Board of Directors has authorized a share buyback program on Thursday, July 25th that authorizes the company to buyback $3.30 billion in shares. This buyback authorization authorizes the insurance provider to buy up to 10.9% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s board believes its shares are undervalued.

Analyst Ratings Changes

A number of analysts have recently commented on HIG shares. Wells Fargo & Company lifted 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 note on Tuesday, September 17th. Keefe, Bruyette & Woods lifted their price target on shares of 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. Barclays started coverage on shares of The Hartford Financial Services Group in a research note on Wednesday, September 4th. They issued an “equal weight” rating and a $130.00 price target for the company. JPMorgan Chase & Co. lifted their price target on shares of The Hartford Financial Services Group from $117.00 to $122.00 and gave the stock a “neutral” rating in a research note on Thursday, October 10th. Finally, Morgan Stanley dropped 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 report on Wednesday, July 10th. Ten 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 company. According to data from MarketBeat, The Hartford Financial Services Group presently has a consensus rating of “Moderate Buy” and an average target price of $120.59.

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.