Clean Yield Group Makes New Investment in The Hartford Financial Services Group, Inc. (NYSE:HIG)

Clean Yield Group acquired a new stake in shares of The Hartford Financial Services Group, Inc. (NYSE:HIG) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 279 shares of the insurance provider’s stock, valued at approximately $33,000.

Other large investors have also modified their holdings of the company. New Covenant Trust Company N.A. acquired a new position in shares of The Hartford Financial Services Group in the 1st quarter valued at $26,000. Quest Partners LLC increased its position in shares of The Hartford Financial Services Group by 2,750.0% in the second quarter. Quest Partners LLC now owns 285 shares of the insurance provider’s stock worth $29,000 after acquiring an additional 275 shares in the last quarter. Bank & Trust Co acquired a new stake in shares of The Hartford Financial Services Group during the second quarter valued at approximately $30,000. Family Firm Inc. purchased a new stake in shares of The Hartford Financial Services Group in the 2nd quarter valued at approximately $31,000. Finally, Benjamin Edwards Inc. acquired a new position in The Hartford Financial Services Group in the 1st quarter worth approximately $35,000. 93.42% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on HIG. Barclays initiated coverage on The Hartford Financial Services Group in a report on Wednesday, September 4th. They issued an “equal weight” rating and a $130.00 target price for the company. Citigroup lowered The Hartford Financial Services Group from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $116.00 to $114.00 in a research report on Friday, June 28th. Royal Bank of Canada upped their target price on The Hartford Financial Services Group from $105.00 to $115.00 and gave the company a “sector perform” rating in a report on Monday, July 29th. Morgan Stanley reduced their price target on shares of The Hartford Financial Services Group from $109.00 to $107.00 and set an “equal weight” rating for the company in a research report on Wednesday, July 10th. Finally, Keefe, Bruyette & Woods boosted their price objective on shares of The Hartford Financial Services Group from $120.00 to $133.00 and gave the company an “outperform” rating in a research report on Thursday, August 1st. Nine investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $117.88.

The Hartford Financial Services Group Stock Up 1.0 %

HIG opened at $115.62 on Wednesday. The firm has a market cap of $34.20 billion, a P/E ratio of 13.14, a price-to-earnings-growth ratio of 0.94 and a beta of 0.93. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.32 and a current ratio of 0.32. The business has a 50 day moving average price of $113.44 and a 200 day moving average price of $105.31. The Hartford Financial Services Group, Inc. has a twelve month low of $68.92 and a twelve month high of $119.06.

The Hartford Financial Services Group (NYSE:HIG) last posted its quarterly earnings data on Thursday, July 25th. The insurance provider reported $2.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.24 by $0.26. The business had revenue of $6.49 billion during the quarter, compared to the consensus estimate 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 Hartford Financial Services Group’s quarterly revenue was up 7.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.88 EPS. Research analysts forecast 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 of Directors has approved a stock 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 shares through open market purchases. Shares repurchase programs are generally an indication that the company’s leadership believes its stock is undervalued.

The Hartford Financial Services Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, October 2nd. Stockholders of record on Tuesday, September 3rd were paid a $0.47 dividend. The ex-dividend date was Tuesday, September 3rd. This represents a $1.88 dividend on an annualized basis and a dividend yield of 1.63%. The Hartford Financial Services Group’s payout ratio is presently 21.36%.

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.