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

Ascent Group LLC trimmed its stake in shares of The Hartford Financial Services Group, Inc. (NYSE:HIG) by 4.1% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 18,003 shares of the insurance provider’s stock after selling 774 shares during the period. Ascent Group LLC’s holdings in The Hartford Financial Services Group were worth $1,810,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Hotchkis & Wiley Capital Management LLC raised its holdings in The Hartford Financial Services Group by 26.2% during the fourth quarter. Hotchkis & Wiley Capital Management LLC now owns 6,119,863 shares of the insurance provider’s stock worth $491,915,000 after purchasing an additional 1,272,290 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in shares of 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 worth $584,177,000 after buying an additional 69,007 shares during the last quarter. Northern Trust Corp boosted its position in shares of The Hartford Financial Services Group by 0.5% in the 4th quarter. Northern Trust Corp now owns 3,381,943 shares of the insurance provider’s stock worth $271,841,000 after buying an additional 18,419 shares in 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 acquiring an additional 233,742 shares during the last quarter. Finally, AQR Capital Management LLC increased its holdings in 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 acquiring an additional 70,018 shares in the last quarter. Hedge funds and other institutional investors own 93.42% of the company’s stock.

The Hartford Financial Services Group Trading Up 0.2 %

HIG stock opened at $116.78 on Monday. The Hartford Financial Services Group, Inc. has a 52 week low of $68.82 and a 52 week high of $117.84. The company has a market cap of $34.54 billion, a price-to-earnings ratio of 13.27, a PEG ratio of 0.94 and a beta of 0.93. 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 business has a fifty day simple moving average of $111.95 and a 200-day simple moving average of $104.59.

The Hartford Financial Services Group (NYSE:HIG) last announced its quarterly earnings results on Thursday, July 25th. The insurance provider reported $2.50 EPS for the quarter, topping the consensus estimate 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 analyst estimates of $6.02 billion. During the same period in the prior year, the firm posted $1.88 earnings per share. The firm’s revenue was up 7.2% on a year-over-year basis. On average, equities research analysts expect that The Hartford Financial Services Group, Inc. will post 10.09 EPS for the current year.

The Hartford Financial Services Group Dividend Announcement

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

The Hartford Financial Services Group declared that its board has authorized a stock buyback plan on Thursday, July 25th that allows the company to buyback $3.30 billion in outstanding shares. This buyback authorization allows the insurance provider to reacquire up to 10.9% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s management believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. Argus upgraded shares of The Hartford Financial Services Group to a “strong-buy” rating in a research report on Friday, August 2nd. Royal Bank of Canada raised their price target on The Hartford Financial Services Group from $105.00 to $115.00 and gave the stock a “sector perform” rating in a research report on Monday, July 29th. 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 dropped their price objective on The Hartford Financial Services Group from $113.00 to $111.00 and set a “buy” rating for the company in a research report on Thursday, July 11th. Finally, Keefe, Bruyette & Woods upped their target price on shares of The Hartford Financial Services Group from $120.00 to $133.00 and gave the company an “outperform” rating in a report on Thursday, August 1st. Nine equities research 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 stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $113.22.

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.