The Hartford Financial Services Group, Inc. (NYSE:HIG) Stock Position Increased by Sequoia Financial Advisors LLC

Sequoia Financial Advisors LLC grew its position in The Hartford Financial Services Group, Inc. (NYSE:HIG) by 98.0% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 11,668 shares of the insurance provider’s stock after purchasing an additional 5,775 shares during the period. Sequoia Financial Advisors LLC’s holdings in The Hartford Financial Services Group were worth $1,372,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of HIG. Whittier Trust Co. grew its holdings in The Hartford Financial Services Group by 5.2% in the 3rd quarter. Whittier Trust Co. now owns 3,655 shares of the insurance provider’s stock worth $430,000 after buying an additional 180 shares in the last quarter. Allspring Global Investments Holdings LLC grew its stake in shares of The Hartford Financial Services Group by 3.0% in the third quarter. Allspring Global Investments Holdings LLC now owns 77,515 shares of the insurance provider’s stock worth $9,117,000 after purchasing an additional 2,279 shares in the last quarter. Vest Financial LLC increased its holdings in shares of The Hartford Financial Services Group by 8.6% during the third quarter. Vest Financial LLC now owns 231,660 shares of the insurance provider’s stock valued at $27,246,000 after purchasing an additional 18,429 shares during the period. OLD National Bancorp IN raised its stake in shares of The Hartford Financial Services Group by 34.3% during the third quarter. OLD National Bancorp IN now owns 3,428 shares of the insurance provider’s stock valued at $403,000 after purchasing an additional 875 shares in the last quarter. Finally, DMC Group LLC bought a new stake in shares of The Hartford Financial Services Group during the third quarter valued at about $203,000. Institutional investors own 93.42% of the company’s stock.

The Hartford Financial Services Group Trading Up 0.5 %

Shares of HIG opened at $120.47 on Friday. The business’s 50-day moving average price is $116.06 and its 200 day moving average price is $106.71. The stock has a market capitalization of $35.63 billion, a P/E ratio of 13.69, a P/E/G ratio of 0.96 and a beta of 0.93. The Hartford Financial Services Group, Inc. has a 1-year low of $68.92 and a 1-year high of $123.23. 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 (NYSE:HIG) last issued its quarterly earnings results on Thursday, July 25th. The insurance provider reported $2.50 earnings per share for the quarter, topping analysts’ consensus estimates of $2.24 by $0.26. The firm had revenue of $6.49 billion for the quarter, compared to analysts’ expectations of $6.02 billion. The Hartford Financial Services Group had a return on equity of 21.20% and a net margin of 11.44%. The Hartford Financial Services Group’s revenue was up 7.2% on a year-over-year basis. During the same quarter last year, the business posted $1.88 EPS. Analysts expect that The Hartford Financial Services Group, Inc. will post 10.09 earnings per share for the current year.

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 shares through open market purchases. Shares buyback plans are generally an indication that the company’s board of directors believes its stock is undervalued.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on HIG shares. Piper Sandler lifted their price objective on shares of The Hartford Financial Services Group from $112.00 to $125.00 and gave the company an “overweight” rating in a research note on Monday, July 29th. Jefferies Financial Group lifted their price objective on shares of The Hartford Financial Services Group from $113.00 to $127.00 and gave the company a “hold” rating in a research note on Wednesday, October 9th. Citigroup cut shares of The Hartford Financial Services Group from a “buy” rating to a “neutral” rating and cut their price objective for the company from $116.00 to $114.00 in a research note on Friday, June 28th. Wells Fargo & Company lifted 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 research note on Tuesday, September 17th. Finally, Royal Bank of Canada lifted their price objective on shares of The Hartford Financial Services Group from $105.00 to $115.00 and gave the company a “sector perform” rating in a research note on Monday, July 29th. Ten investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $120.59.

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.