Brown Lisle Cummings Inc. Reduces Position in The Hartford Financial Services Group, Inc. (NYSE:HIG)

Brown Lisle Cummings Inc. reduced its holdings in The Hartford Financial Services Group, Inc. (NYSE:HIG) by 22.3% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,393 shares of the insurance provider’s stock after selling 400 shares during the period. Brown Lisle Cummings Inc.’s holdings in The Hartford Financial Services Group were worth $164,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently bought and sold shares of HIG. New Covenant Trust Company N.A. purchased a new stake in The Hartford Financial Services Group in the 1st quarter valued at $26,000. Quest Partners LLC boosted its position in shares of The Hartford Financial Services Group by 2,750.0% during the 2nd quarter. Quest Partners LLC now owns 285 shares of the insurance provider’s stock valued at $29,000 after acquiring an additional 275 shares during the last quarter. Bank & Trust Co purchased a new stake in shares of The Hartford Financial Services Group in the second quarter valued at about $30,000. Family Firm Inc. acquired a new stake in The Hartford Financial Services Group during the second quarter worth about $31,000. Finally, Clean Yield Group purchased a new position in The Hartford Financial Services Group during the third quarter worth about $33,000. 93.42% of the stock is currently owned by institutional investors and hedge funds.

The Hartford Financial Services Group Trading Down 0.9 %

HIG opened at $120.94 on Tuesday. The business has a fifty day moving average price of $115.62 and a 200 day moving average price of $106.50. 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 stock has a market capitalization of $35.77 billion, a price-to-earnings ratio of 13.74, a PEG ratio of 0.96 and a beta of 0.93. The Hartford Financial Services Group, Inc. has a 12 month low of $68.92 and a 12 month high of $123.23.

The Hartford Financial Services Group (NYSE:HIG) last posted 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 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 analysts’ expectations of $6.02 billion. During the same quarter in the previous year, the business posted $1.88 EPS. The firm’s revenue was up 7.2% on a year-over-year basis. Sell-side analysts expect that The Hartford Financial Services Group, Inc. will post 10.09 earnings per share for the current fiscal year.

The Hartford Financial Services Group announced that its Board of Directors has authorized a stock repurchase program on Thursday, July 25th that authorizes the company to buyback $3.30 billion in shares. This buyback authorization authorizes the insurance provider to buy up to 10.9% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s management believes its shares are undervalued.

Analysts Set New Price Targets

A number of analysts have recently issued reports on HIG shares. Barclays began coverage on shares of The Hartford Financial Services Group in a report on Wednesday, September 4th. They set an “equal weight” rating and a $130.00 price target for the company. UBS Group lifted their target price on The Hartford Financial Services Group from $134.00 to $135.00 and gave the company a “buy” rating in a research report on Tuesday, October 15th. Argus upgraded The Hartford Financial Services Group to a “strong-buy” rating in a report on Friday, August 2nd. Wells Fargo & Company boosted their price objective on shares of The Hartford Financial Services Group from $122.00 to $134.00 and gave the company an “overweight” rating in a report on Tuesday, September 17th. Finally, Citigroup lowered shares of The Hartford Financial Services Group from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $116.00 to $114.00 in a research note on Friday, June 28th. Ten investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, The Hartford Financial Services Group has an average rating of “Moderate Buy” and a consensus target price of $120.59.

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.