Vanguard Personalized Indexing Management LLC Acquires 5,040 Shares of The Hartford Financial Services Group, Inc. (NYSE:HIG)

Vanguard Personalized Indexing Management LLC boosted its holdings in The Hartford Financial Services Group, Inc. (NYSE:HIG) by 10.9% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 51,477 shares of the insurance provider’s stock after acquiring an additional 5,040 shares during the period. Vanguard Personalized Indexing Management LLC’s holdings in The Hartford Financial Services Group were worth $5,165,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the business. New Covenant Trust Company N.A. acquired a new position in shares of The Hartford Financial Services Group in the first quarter valued at $26,000. Quest Partners LLC boosted its holdings 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 worth $29,000 after buying an additional 275 shares during the period. Bank & Trust Co acquired a new position in The Hartford Financial Services Group in the 2nd quarter valued at about $30,000. Family Firm Inc. bought a new position in The Hartford Financial Services Group in the 2nd quarter valued at about $31,000. Finally, Benjamin Edwards Inc. acquired a new stake in The Hartford Financial Services Group during the first quarter worth approximately $35,000. Institutional investors and hedge funds own 93.42% of the company’s stock.

The Hartford Financial Services Group Stock Down 0.3 %

NYSE HIG opened at $116.70 on Thursday. The business has a fifty day moving average price of $110.04 and a two-hundred day moving average price of $103.60. The stock has a market capitalization of $34.51 billion, a PE ratio of 13.26, a PEG ratio of 0.91 and a beta of 0.93. 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 debt-to-equity ratio of 0.28, a current ratio of 0.32 and a quick ratio of 0.32.

The Hartford Financial Services Group (NYSE:HIG) last released its quarterly earnings data on Thursday, July 25th. The insurance provider reported $2.50 earnings per share for the quarter, beating the consensus estimate of $2.24 by $0.26. The Hartford Financial Services Group had a return on equity of 21.20% and a net margin of 11.44%. The business had revenue of $6.49 billion for the quarter, compared to analyst estimates of $6.02 billion. During the same period last year, the firm posted $1.88 earnings per share. The Hartford Financial Services Group’s revenue was up 7.2% compared to the same quarter last year. Equities 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 Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 2nd. Investors of record on Tuesday, September 3rd will be issued a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a dividend 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 presently 21.36%.

The Hartford Financial Services Group declared that its Board of Directors has initiated a share repurchase program on Thursday, July 25th that permits the company to repurchase $3.30 billion in shares. This repurchase authorization permits the insurance provider to reacquire 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 shares are undervalued.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on HIG shares. Citigroup downgraded The Hartford Financial Services Group from a “buy” rating to a “neutral” rating and decreased their target price for the company from $116.00 to $114.00 in a research report on Friday, June 28th. Piper Sandler increased their price objective on The Hartford Financial Services Group from $112.00 to $125.00 and gave the stock an “overweight” rating in a research report on Monday, July 29th. The Goldman Sachs Group boosted their target price on shares of 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. Bank of America lowered their price target on shares of The Hartford Financial Services Group from $113.00 to $111.00 and set a “buy” rating on the stock in a research report on Thursday, July 11th. Finally, Argus raised shares of The Hartford Financial Services Group to a “strong-buy” rating in a report on Friday, August 2nd. Nine equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $113.22.

Insider Buying and Selling

In other The Hartford Financial Services Group news, EVP Michael R. Fisher sold 4,088 shares of the business’s stock in a transaction on Monday, July 1st. The shares were sold at an average price of $101.47, for a total transaction of $414,809.36. Following the sale, the executive vice president now owns 14,818 shares of the company’s stock, valued at $1,503,582.46. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 1.60% of the stock is owned by corporate insiders.

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.