Greenleaf Trust Has $2.63 Million Holdings in The Hartford Financial Services Group, Inc. (NYSE:HIG)

Greenleaf Trust lifted its stake in shares of The Hartford Financial Services Group, Inc. (NYSE:HIG) by 0.8% during the third quarter, Holdings Channel.com reports. The firm owned 22,352 shares of the insurance provider’s stock after acquiring an additional 168 shares during the period. Greenleaf Trust’s holdings in The Hartford Financial Services Group were worth $2,629,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Dimensional Fund Advisors LP boosted 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 during the last quarter. Nordea Investment Management AB grew its stake in The Hartford Financial Services Group by 7.9% in 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 buying an additional 233,742 shares in the last quarter. AQR Capital Management LLC raised its stake in shares of The Hartford Financial Services Group by 4.9% during the 2nd 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 during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its position in shares of The Hartford Financial Services Group by 2.4% during the second quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 1,367,400 shares of the insurance provider’s stock valued at $137,478,000 after buying an additional 31,806 shares during the period. Finally, Bahl & Gaynor Inc. boosted its holdings in The Hartford Financial Services Group by 3.4% in the 2nd quarter. Bahl & Gaynor Inc. now owns 1,229,133 shares of the insurance provider’s stock valued at $123,577,000 after purchasing an additional 40,400 shares during the period. Institutional investors own 93.42% of the company’s stock.

The Hartford Financial Services Group Trading Down 0.2 %

Shares of NYSE HIG opened at $119.85 on Thursday. The stock has a market cap of $35.45 billion, a P/E ratio of 13.62, a price-to-earnings-growth ratio of 0.96 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 1 year low of $68.92 and a 1 year high of $123.23. The firm has a 50-day moving average of $116.06 and a 200 day moving average of $106.71.

The Hartford Financial Services Group (NYSE:HIG) last released 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 firm 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 business’s revenue was up 7.2% on a year-over-year basis. During the same period last year, the business earned $1.88 earnings per share. As a group, sell-side analysts expect 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 has approved a share repurchase program on Thursday, July 25th that authorizes the company to repurchase $3.30 billion in outstanding shares. This repurchase authorization authorizes the insurance provider to repurchase up to 10.9% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s management believes its stock is undervalued.

Analyst Upgrades and Downgrades

HIG has been the subject of several recent analyst reports. Barclays began 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. Piper Sandler raised their price target on The Hartford Financial Services Group from $112.00 to $125.00 and gave the stock an “overweight” rating in a research report on Monday, July 29th. Argus upgraded shares of The Hartford Financial Services Group to a “strong-buy” rating in a research report on Friday, August 2nd. Jefferies Financial Group raised their target price on The Hartford Financial Services Group from $113.00 to $127.00 and gave the stock a “hold” rating in a research note on Wednesday, October 9th. Finally, Bank of America upped their price target on The Hartford Financial Services Group from $121.00 to $124.00 and gave the company a “neutral” rating in a research report on Thursday, October 10th. Ten research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, The Hartford Financial Services Group presently has an average rating of “Moderate Buy” and a consensus price target of $120.59.

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.