The Hartford Financial Services Group, Inc. (NYSE:HIG) Shares Acquired by Mercer Global Advisors Inc. ADV

Mercer Global Advisors Inc. ADV increased its holdings in shares of The Hartford Financial Services Group, Inc. (NYSE:HIG) by 5.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 213,264 shares of the insurance provider’s stock after acquiring an additional 11,824 shares during the quarter. Mercer Global Advisors Inc. ADV owned about 0.07% of The Hartford Financial Services Group worth $21,442,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the business. Wealth Alliance grew its position in shares of The Hartford Financial Services Group by 14.5% in the second quarter. Wealth Alliance now owns 3,500 shares of the insurance provider’s stock valued at $352,000 after purchasing an additional 443 shares in the last quarter. Mutual of America Capital Management LLC boosted its stake in The Hartford Financial Services Group by 1.3% during the second quarter. Mutual of America Capital Management LLC now owns 81,577 shares of the insurance provider’s stock worth $8,202,000 after buying an additional 1,086 shares during the last quarter. Denali Advisors LLC grew its holdings in The Hartford Financial Services Group by 374.8% in the 2nd quarter. Denali Advisors LLC now owns 2,412 shares of the insurance provider’s stock valued at $243,000 after buying an additional 1,904 shares in the last quarter. Edgestream Partners L.P. increased its stake in shares of The Hartford Financial Services Group by 32.2% in the 2nd quarter. Edgestream Partners L.P. now owns 3,134 shares of the insurance provider’s stock worth $315,000 after acquiring an additional 764 shares during the last quarter. Finally, Renaissance Technologies LLC purchased a new position in shares of The Hartford Financial Services Group during the 2nd quarter worth $2,755,000. Hedge funds and other institutional investors own 93.42% of the company’s stock.

Insider Transactions at The Hartford Financial Services Group

In related news, EVP Michael R. Fisher sold 4,088 shares of the company’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $101.47, for a total value of $414,809.36. Following the completion of the transaction, the executive vice president now directly owns 14,818 shares of the company’s stock, valued at $1,503,582.46. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.60% of the company’s stock.

The Hartford Financial Services Group Trading Down 0.3 %

Shares of HIG stock opened at $116.70 on Thursday. The Hartford Financial Services Group, Inc. has a fifty-two week low of $68.82 and a fifty-two week high of $117.84. The company has a 50 day moving average price of $110.04 and a 200 day moving average price of $103.60. 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 stock has a market capitalization of $34.51 billion, a P/E ratio of 13.26, a price-to-earnings-growth ratio of 0.91 and a beta of 0.93.

The Hartford Financial Services Group (NYSE:HIG) last released its 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 Hartford Financial Services Group had a net margin of 11.44% and a return on equity of 21.20%. The firm had revenue of $6.49 billion for the quarter, compared to analyst estimates of $6.02 billion. During the same period in the prior year, the firm earned $1.88 earnings per share. The business’s quarterly revenue was up 7.2% compared to the same quarter last year. Equities research analysts predict 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 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.

The Hartford Financial Services Group Dividend Announcement

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

Analyst Ratings Changes

Several research firms recently issued reports on HIG. Keefe, Bruyette & Woods raised their price objective on shares of The Hartford Financial Services Group from $120.00 to $133.00 and gave the stock an “outperform” rating in a research report on Thursday, August 1st. Barclays assumed coverage on shares of The Hartford Financial Services Group in a research report on Wednesday, September 4th. They set an “equal weight” rating and a $130.00 price target on the stock. JPMorgan Chase & Co. increased their price objective on The Hartford Financial Services Group from $104.00 to $116.00 and gave the stock a “neutral” rating in a research report on Thursday, July 11th. The Goldman Sachs Group lifted their target price on The Hartford Financial Services Group from $105.00 to $111.00 and gave the company a “buy” rating in a research report on Thursday, June 13th. Finally, Bank of America lowered their price target on The Hartford Financial Services Group from $113.00 to $111.00 and set a “buy” rating for the company in a report on Thursday, July 11th. Nine analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price 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.