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

Tectonic Advisors LLC lifted its holdings in The Hartford Financial Services Group, Inc. (NYSE:HIG) by 2.6% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 4,566 shares of the insurance provider’s stock after buying an additional 114 shares during the quarter. Tectonic Advisors LLC’s holdings in The Hartford Financial Services Group were worth $537,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. Dimensional Fund Advisors LP lifted its holdings in The Hartford Financial Services Group by 1.2% in the second quarter. Dimensional Fund Advisors LP now owns 5,809,358 shares of the insurance provider’s stock worth $584,177,000 after acquiring an additional 69,007 shares during the last quarter. Nordea Investment Management AB lifted its holdings in shares of 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 worth $328,320,000 after purchasing an additional 233,742 shares during the last quarter. AQR Capital Management LLC lifted its holdings in shares of The Hartford Financial Services Group by 4.9% in the 2nd quarter. AQR Capital Management LLC now owns 1,497,960 shares of the insurance provider’s stock worth $150,605,000 after purchasing an additional 70,018 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its position in The Hartford Financial Services Group by 2.4% during the 2nd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 1,367,400 shares of the insurance provider’s stock valued at $137,478,000 after purchasing an additional 31,806 shares during the period. Finally, Bahl & Gaynor Inc. grew its stake in The Hartford Financial Services Group by 3.4% during the 2nd quarter. Bahl & Gaynor Inc. now owns 1,229,133 shares of the insurance provider’s stock worth $123,577,000 after buying an additional 40,400 shares during the last quarter. 93.42% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

HIG has been the topic of a number of recent research reports. Royal Bank of Canada raised 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 research note on Monday, July 29th. Bank of America boosted their target price on shares of The Hartford Financial Services Group from $121.00 to $124.00 and gave the company a “neutral” rating in a research note on Thursday, October 10th. Keefe, Bruyette & Woods raised their price target on shares of The Hartford Financial Services Group from $120.00 to $133.00 and gave the company an “outperform” rating in a research note on Thursday, August 1st. Jefferies Financial Group boosted their price objective on The Hartford Financial Services Group from $113.00 to $127.00 and gave the stock a “hold” rating in a research report on Wednesday, October 9th. Finally, UBS Group raised 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. Ten research 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 MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $120.76.

The Hartford Financial Services Group Price Performance

Shares of The Hartford Financial Services Group stock opened at $112.26 on Friday. The Hartford Financial Services Group, Inc. has a 52 week low of $68.92 and a 52 week 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 stock has a market cap of $33.20 billion, a PE ratio of 12.76, a price-to-earnings-growth ratio of 0.96 and a beta of 0.93. The company’s 50-day moving average price is $116.27 and its two-hundred day moving average price is $106.81.

The Hartford Financial Services Group (NYSE:HIG) last released its earnings results on Thursday, October 24th. The insurance provider reported $2.53 EPS for the quarter, topping analysts’ consensus estimates of $2.49 by $0.04. The business had revenue of $4.67 billion for the quarter, compared to the consensus estimate of $4.62 billion. The Hartford Financial Services Group had a net margin of 11.44% and a return on equity of 21.20%. As a group, sell-side analysts anticipate that The Hartford Financial Services Group, Inc. will post 10.09 EPS for the current fiscal year.

The Hartford Financial Services Group announced that its Board of Directors has approved a share repurchase plan on Thursday, July 25th that authorizes the company to buyback $3.30 billion in shares. This buyback authorization authorizes the insurance provider to reacquire up to 10.9% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board believes its shares are undervalued.

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.