Blue Trust Inc. Buys 1,962 Shares of The Hartford Financial Services Group, Inc. (NYSE:HIG)

Blue Trust Inc. raised its stake in The Hartford Financial Services Group, Inc. (NYSE:HIG) by 61.5% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 5,150 shares of the insurance provider’s stock after purchasing an additional 1,962 shares during the quarter. Blue Trust Inc.’s holdings in The Hartford Financial Services Group were worth $606,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. &PARTNERS purchased a new position in shares of The Hartford Financial Services Group during the first quarter valued at approximately $239,000. Ignite Planners LLC bought a new position in The Hartford Financial Services Group in the 1st quarter worth $213,000. DGS Capital Management LLC purchased a new stake in shares of The Hartford Financial Services Group in the 1st quarter worth about $417,000. Wealthcare Advisory Partners LLC purchased a new stake in shares of The Hartford Financial Services Group in the 1st quarter worth about $274,000. Finally, Signet Financial Management LLC boosted its stake in shares of The Hartford Financial Services Group by 2.9% during the 1st quarter. Signet Financial Management LLC now owns 31,323 shares of the insurance provider’s stock valued at $3,228,000 after purchasing an additional 877 shares in the last quarter. Hedge funds and other institutional investors own 93.42% of the company’s stock.

Analysts Set New Price Targets

Several analysts have commented on the stock. Piper Sandler raised their price objective on shares of 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. Bank of America raised their target price on The Hartford Financial Services Group from $121.00 to $124.00 and gave the company a “neutral” rating in a research note on Thursday, October 10th. Citigroup cut The Hartford Financial Services Group from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $116.00 to $114.00 in a research note on Friday, June 28th. Royal Bank of Canada raised their price objective on The Hartford Financial Services Group from $105.00 to $115.00 and gave the company a “sector perform” rating in a research report on Monday, July 29th. Finally, UBS Group upped their target price on shares of The Hartford Financial Services Group from $134.00 to $135.00 and gave the stock a “buy” rating in a research report on Tuesday, October 15th. Ten research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, The Hartford Financial Services Group has an average rating of “Moderate Buy” and an average target price of $120.59.

The Hartford Financial Services Group Stock Down 0.9 %

HIG stock opened at $120.94 on Tuesday. 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 1-year low of $68.92 and a 1-year high of $123.23. The stock has a market capitalization of $35.77 billion, a P/E ratio of 13.74, a P/E/G ratio of 0.96 and a beta of 0.93. The business has a fifty day moving average price of $115.62 and a 200-day moving average price of $106.50.

The Hartford Financial Services Group (NYSE:HIG) last posted its earnings results 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 Hartford Financial Services Group had a net margin of 11.44% and a return on equity of 21.20%. The business had revenue of $6.49 billion for the quarter, compared to analysts’ expectations of $6.02 billion. During the same quarter in the prior year, the business earned $1.88 EPS. The business’s revenue for the quarter was up 7.2% compared to the same quarter last year. 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 announced that its board has approved a share repurchase program on Thursday, July 25th that authorizes the company to repurchase $3.30 billion in shares. This repurchase authorization authorizes the insurance provider to buy up to 10.9% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s management believes its stock is undervalued.

The Hartford Financial Services Group Company 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.