Elo Mutual Pension Insurance Co Sells 2,316 Shares of The Hartford Financial Services Group, Inc. (NYSE:HIG)

Elo Mutual Pension Insurance Co lessened its holdings in shares of The Hartford Financial Services Group, Inc. (NYSE:HIG) by 8.4% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 25,166 shares of the insurance provider’s stock after selling 2,316 shares during the quarter. Elo Mutual Pension Insurance Co’s holdings in The Hartford Financial Services Group were worth $2,530,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of the business. BI Asset Management Fondsmaeglerselskab A S raised its holdings in The Hartford Financial Services Group by 26.1% during the 4th quarter. BI Asset Management Fondsmaeglerselskab A S now owns 8,819 shares of the insurance provider’s stock valued at $709,000 after acquiring an additional 1,825 shares during the period. D.A. Davidson & CO. grew its position in shares of The Hartford Financial Services Group by 2.0% in the fourth quarter. D.A. Davidson & CO. now owns 19,284 shares of the insurance provider’s stock valued at $1,550,000 after purchasing an additional 378 shares in the last quarter. Franklin Resources Inc. raised its stake in shares of The Hartford Financial Services Group by 6.1% during the 4th quarter. Franklin Resources Inc. now owns 2,236,115 shares of the insurance provider’s stock valued at $179,729,000 after purchasing an additional 129,120 shares during the period. Dai ichi Life Insurance Company Ltd lifted its holdings in The Hartford Financial Services Group by 112.8% during the 4th quarter. Dai ichi Life Insurance Company Ltd now owns 33,957 shares of the insurance provider’s stock worth $2,729,000 after purchasing an additional 18,000 shares in the last quarter. Finally, Cambridge Investment Research Advisors Inc. boosted its stake in The Hartford Financial Services Group by 2.9% in the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 16,800 shares of the insurance provider’s stock worth $1,350,000 after purchasing an additional 479 shares during the period. Hedge funds and other institutional investors own 93.42% of the company’s stock.

Analysts Set New Price Targets

HIG has been the topic of several analyst reports. Bank of America decreased their price target on The Hartford Financial Services Group from $113.00 to $111.00 and set a “buy” rating on the stock in a research report on Thursday, July 11th. JPMorgan Chase & Co. increased their target price on shares of 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 lowered shares of The Hartford Financial Services Group from a “buy” rating to a “neutral” rating and reduced their price target for the company from $116.00 to $114.00 in a research report on Friday, June 28th. Wells Fargo & Company increased their price objective on The Hartford Financial Services Group from $122.00 to $134.00 and gave the stock an “overweight” rating in a research report on Tuesday. Finally, The Goldman Sachs Group lifted their price objective on The Hartford Financial Services Group from $105.00 to $111.00 and gave the company a “buy” rating in a research note on Thursday, June 13th. Nine investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $113.22.

The Hartford Financial Services Group Stock Down 0.7 %

Shares of HIG opened at $115.94 on Friday. The firm has a market cap of $34.29 billion, a P/E ratio of 13.18, a P/E/G ratio of 0.91 and a beta of 0.93. The Hartford Financial Services Group, Inc. has a 1 year low of $68.82 and a 1 year high of $117.84. The stock has a 50 day simple moving average of $110.33 and a two-hundred day simple moving average of $103.68. 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 released its earnings results on Thursday, July 25th. The insurance provider reported $2.50 EPS for the quarter, beating the consensus estimate of $2.24 by $0.26. The company had revenue of $6.49 billion for 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 firm’s quarterly revenue was up 7.2% compared to the same quarter last year. During the same quarter last year, the firm earned $1.88 EPS. On average, 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 Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 2nd. Stockholders of record on Tuesday, September 3rd will be paid a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a dividend yield of 1.62%. The ex-dividend date of this dividend is Tuesday, September 3rd. The Hartford Financial Services Group’s dividend payout ratio (DPR) is presently 21.36%.

The Hartford Financial Services Group announced that its board has approved a share buyback plan 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 stock through open market purchases. Stock buyback plans are often a sign that the company’s leadership believes its stock is undervalued.

Insider Activity at The Hartford Financial Services Group

In other The Hartford Financial Services Group news, EVP Michael R. Fisher sold 4,088 shares of The Hartford Financial Services Group stock in a transaction that occurred 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 transaction, the executive vice president now directly owns 14,818 shares of the company’s stock, valued at approximately $1,503,582.46. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.60% of the stock is currently owned by company insiders.

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.