The Hartford Financial Services Group, Inc. (NYSE:HIG) Shares Bought by Leuthold Group LLC

Leuthold Group LLC boosted its position in The Hartford Financial Services Group, Inc. (NYSE:HIG) by 8.5% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 32,770 shares of the insurance provider’s stock after acquiring an additional 2,570 shares during the quarter. Leuthold Group LLC’s holdings in The Hartford Financial Services Group were worth $3,295,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in HIG. Norges Bank purchased a new stake in shares of The Hartford Financial Services Group during the 4th quarter worth $278,704,000. Hotchkis & Wiley Capital Management LLC raised its position in shares of The Hartford Financial Services Group by 26.2% during the 4th quarter. Hotchkis & Wiley Capital Management LLC now owns 6,119,863 shares of the insurance provider’s stock worth $491,915,000 after acquiring an additional 1,272,290 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its holdings in The Hartford Financial Services Group by 72.0% in the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 1,335,594 shares of the insurance provider’s stock valued at $137,633,000 after purchasing an additional 559,019 shares in the last quarter. Swedbank AB acquired a new stake in The Hartford Financial Services Group during the first quarter worth approximately $53,980,000. Finally, KBC Group NV lifted its position in shares of The Hartford Financial Services Group by 85.5% during the 4th quarter. KBC Group NV now owns 1,074,470 shares of the insurance provider’s stock worth $86,366,000 after buying an additional 495,192 shares during the last quarter. Hedge funds and other institutional investors own 93.42% of the company’s stock.

The Hartford Financial Services Group Stock Performance

Shares of HIG stock opened at $116.70 on Thursday. The company has a current ratio of 0.32, a quick ratio of 0.32 and a debt-to-equity ratio of 0.28. The Hartford Financial Services Group, Inc. has a 12-month low of $68.82 and a 12-month high of $117.84. The company has a market cap of $34.51 billion, a price-to-earnings ratio of 13.26, a price-to-earnings-growth ratio of 0.91 and a beta of 0.93. The stock has a 50 day simple moving average of $110.04 and a 200-day simple moving average of $103.60.

The Hartford Financial Services Group (NYSE:HIG) last released its earnings results on Thursday, July 25th. The insurance provider reported $2.50 EPS for the quarter, beating analysts’ consensus estimates of $2.24 by $0.26. The Hartford Financial Services Group had a return on equity of 21.20% and a net margin of 11.44%. The company had revenue of $6.49 billion during the quarter, compared to the consensus estimate of $6.02 billion. During the same quarter last year, the company earned $1.88 earnings per share. The Hartford Financial Services Group’s quarterly revenue was up 7.2% compared to the same quarter last year. On average, equities analysts forecast that The Hartford Financial Services Group, Inc. will post 10.09 EPS for the current year.

The Hartford Financial Services Group announced that its board has approved a stock repurchase plan on Thursday, July 25th that allows the company to repurchase $3.30 billion in outstanding shares. This repurchase authorization allows the insurance provider to purchase up to 10.9% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board of directors believes its shares are undervalued.

The Hartford Financial Services Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 2nd. Stockholders of record on Tuesday, September 3rd will be paid a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a dividend yield of 1.61%. The ex-dividend date of this dividend is Tuesday, September 3rd. The Hartford Financial Services Group’s dividend payout ratio (DPR) is 21.36%.

Insider Buying and Selling

In other The Hartford Financial Services Group news, EVP Michael R. Fisher sold 4,088 shares of the company’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $101.47, for a total value of $414,809.36. Following the sale, the executive vice president now owns 14,818 shares of the company’s stock, valued at $1,503,582.46. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 1.60% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on HIG. Barclays started coverage on shares of The Hartford Financial Services Group in a research note on Wednesday, September 4th. They set an “equal weight” rating and a $130.00 price target on the stock. Piper Sandler upped their target price on The Hartford Financial Services Group from $112.00 to $125.00 and gave the company an “overweight” rating in a research report on Monday, July 29th. JPMorgan Chase & Co. raised their price target on The Hartford Financial Services Group from $104.00 to $116.00 and gave the stock a “neutral” rating in a research note on Thursday, July 11th. Citigroup cut The Hartford Financial Services Group from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $116.00 to $114.00 in a research note on Friday, June 28th. Finally, Morgan Stanley cut their target price 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. Nine analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $113.22.

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.