The Hartford Financial Services Group, Inc. (NYSE:HIG) Shares Purchased by APG Asset Management N.V.

APG Asset Management N.V. boosted its holdings in The Hartford Financial Services Group, Inc. (NYSE:HIG) by 8.3% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 737,438 shares of the insurance provider’s stock after buying an additional 56,664 shares during the period. APG Asset Management N.V. owned 0.25% of The Hartford Financial Services Group worth $69,178,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. New Covenant Trust Company N.A. acquired a new stake in shares of The Hartford Financial Services Group in the first quarter worth approximately $26,000. Quest Partners LLC boosted its holdings in shares of The Hartford Financial Services Group by 2,750.0% in the 2nd quarter. Quest Partners LLC now owns 285 shares of the insurance provider’s stock valued at $29,000 after purchasing an additional 275 shares during the last quarter. Bank & Trust Co purchased a new stake in shares of The Hartford Financial Services Group during the 2nd quarter valued at $30,000. Family Firm Inc. acquired a new stake in shares of The Hartford Financial Services Group during the 2nd quarter worth $31,000. Finally, Benjamin Edwards Inc. purchased a new position in shares of The Hartford Financial Services Group in the 1st quarter worth $35,000. Hedge funds and other institutional investors own 93.42% of the company’s stock.

Insider Activity

In related news, EVP Michael R. Fisher sold 4,088 shares of the firm’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $101.47, for a total transaction of $414,809.36. Following the transaction, the executive vice president now directly owns 14,818 shares in the company, valued at $1,503,582.46. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 1.60% of the company’s stock.

The Hartford Financial Services Group Stock Down 0.0 %

Shares of NYSE:HIG opened at $116.58 on Friday. The firm has a market cap of $34.48 billion, a PE ratio of 13.25, a price-to-earnings-growth ratio of 0.94 and a beta of 0.93. The company has a fifty day simple moving average of $111.41 and a 200 day simple moving average of $104.30. 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 Hartford Financial Services Group (NYSE:HIG) last released its earnings results on Thursday, July 25th. The insurance provider reported $2.50 earnings per share for the quarter, topping 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 company had revenue of $6.49 billion during the quarter, compared to the consensus estimate of $6.02 billion. During the same quarter in the previous year, the firm earned $1.88 EPS. The company’s revenue was up 7.2% on a year-over-year basis. On average, equities research analysts anticipate that The Hartford Financial Services Group, Inc. will post 10.09 EPS for the current fiscal year.

The Hartford Financial Services Group declared that its board has initiated a share buyback program on Thursday, July 25th that allows the company to repurchase $3.30 billion in outstanding shares. This repurchase authorization allows the insurance provider to repurchase up to 10.9% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board believes its stock is undervalued.

The Hartford Financial Services Group Announces Dividend

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

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on HIG shares. Citigroup downgraded The Hartford Financial Services Group from a “buy” rating to a “neutral” rating and lowered their price target for the company from $116.00 to $114.00 in a research report on Friday, June 28th. Bank of America decreased their price objective on shares of The Hartford Financial Services Group from $113.00 to $111.00 and set a “buy” rating for the company in a research note on Thursday, July 11th. JPMorgan Chase & Co. raised their target price on shares of The Hartford Financial Services Group from $104.00 to $116.00 and gave the company a “neutral” rating in a research note on Thursday, July 11th. Piper Sandler upped their price target on shares of 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. Finally, The Goldman Sachs Group increased their price target on The Hartford Financial Services Group from $105.00 to $111.00 and gave the company a “buy” rating in a report on Thursday, June 13th. Nine research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $113.22.

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.