DT Investment Partners LLC Purchases New Position in The Hartford Financial Services Group, Inc. (NYSE:HIG)

DT Investment Partners LLC acquired a new position in shares of The Hartford Financial Services Group, Inc. (NYSE:HIG) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 221 shares of the insurance provider’s stock, valued at approximately $26,000.

Other hedge funds also recently modified their holdings of the company. Wealthcare Advisory Partners LLC acquired a new stake in The Hartford Financial Services Group during the 1st quarter valued at $274,000. Kathmere Capital Management LLC grew its holdings in shares of The Hartford Financial Services Group by 15.6% during the first quarter. Kathmere Capital Management LLC now owns 6,277 shares of the insurance provider’s stock worth $647,000 after purchasing an additional 849 shares during the last quarter. Winthrop Advisory Group LLC acquired a new stake in shares of The Hartford Financial Services Group in the first quarter valued at $220,000. Guidance Capital Inc. raised its holdings in shares of The Hartford Financial Services Group by 3.5% in the first quarter. Guidance Capital Inc. now owns 8,391 shares of the insurance provider’s stock valued at $816,000 after buying an additional 280 shares during the last quarter. Finally, SteelPeak Wealth LLC lifted its position in The Hartford Financial Services Group by 65.5% during the 1st quarter. SteelPeak Wealth LLC now owns 34,626 shares of the insurance provider’s stock worth $3,584,000 after buying an additional 13,710 shares in the last quarter. Institutional investors and hedge funds own 93.42% of the company’s stock.

The Hartford Financial Services Group Price Performance

HIG opened at $112.26 on Friday. The stock has a market cap of $33.20 billion, a P/E ratio of 12.76, a P/E/G ratio of 0.96 and a beta of 0.93. The Hartford Financial Services Group, Inc. has a 12 month low of $68.92 and a 12 month high of $123.23. The company has a quick ratio of 0.32, a current ratio of 0.32 and a debt-to-equity ratio of 0.28. The company has a fifty day simple moving average of $116.27 and a 200 day simple moving average of $106.81.

The Hartford Financial Services Group (NYSE:HIG) last announced its quarterly earnings results on Thursday, October 24th. The insurance provider reported $2.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.49 by $0.04. The company had revenue of $4.67 billion during the quarter, compared to the consensus estimate of $4.62 billion. The Hartford Financial Services Group had a return on equity of 21.20% and a net margin of 11.44%. On average, research analysts expect that The Hartford Financial Services Group, Inc. will post 10.09 EPS for the current year.

The Hartford Financial Services Group declared that its board has authorized a stock repurchase program on Thursday, July 25th that permits the company to buyback $3.30 billion in shares. This buyback authorization permits the insurance provider to repurchase up to 10.9% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board of directors believes its shares are undervalued.

Wall Street Analyst Weigh In

HIG has been the subject of several research reports. Citigroup cut shares of The Hartford Financial Services Group from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $116.00 to $114.00 in a research report on Friday, June 28th. Jefferies Financial Group boosted their price objective on shares of The Hartford Financial Services Group from $113.00 to $127.00 and gave the stock a “hold” rating in a research report on Wednesday, October 9th. Barclays initiated coverage on The Hartford Financial Services Group in a research report on Wednesday, September 4th. They issued an “equal weight” rating and a $130.00 price objective on the stock. Bank of America lifted 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. Finally, Piper Sandler upped their price target on The Hartford Financial Services Group from $112.00 to $125.00 and gave the company an “overweight” rating in a research note on Monday, July 29th. Ten analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $120.76.

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.