Ensign Peak Advisors Inc Has $50.96 Million Stock Position in The Hartford Financial Services Group, Inc. (NYSE:HIG)

Ensign Peak Advisors Inc lessened its position in shares of The Hartford Financial Services Group, Inc. (NYSE:HIG) by 7.3% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 506,904 shares of the insurance provider’s stock after selling 39,702 shares during the quarter. Ensign Peak Advisors Inc owned about 0.17% of The Hartford Financial Services Group worth $50,964,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the company. New Covenant Trust Company N.A. acquired a new position in The Hartford Financial Services Group during the 1st quarter valued at about $26,000. Quest Partners LLC grew its holdings in 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 acquiring an additional 275 shares during the period. Cape Investment Advisory Inc. grew its holdings in The Hartford Financial Services Group by 189.9% during the 4th quarter. Cape Investment Advisory Inc. now owns 374 shares of the insurance provider’s stock worth $30,000 after acquiring an additional 245 shares during the period. Bank & Trust Co bought a new stake in shares of The Hartford Financial Services Group during the 2nd quarter valued at $30,000. Finally, Family Firm Inc. acquired a new position in shares of The Hartford Financial Services Group in the 2nd quarter valued at $31,000. Institutional investors own 93.42% of the company’s stock.

Insider Buying and Selling at The Hartford Financial Services Group

In other 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 transaction of $414,809.36. Following the sale, the executive vice president now owns 14,818 shares in the company, valued at approximately $1,503,582.46. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 1.60% of the company’s stock.

The Hartford Financial Services Group Price Performance

NYSE HIG opened at $116.32 on Friday. The firm’s 50 day moving average is $110.62 and its 200-day moving average is $103.89. The company has a quick ratio of 0.32, a current ratio of 0.32 and a debt-to-equity ratio of 0.28. The company has a market capitalization of $34.40 billion, a PE ratio of 13.22, a price-to-earnings-growth ratio of 0.91 and a beta of 0.93. The Hartford Financial Services Group, Inc. has a 12-month low of $68.82 and a 12-month high of $117.84.

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 (EPS) for the quarter, beating 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 firm had revenue of $6.49 billion for the quarter, compared to analyst estimates of $6.02 billion. During the same period in the previous year, the business earned $1.88 EPS. The company’s revenue was up 7.2% compared to the same quarter last year. Equities research analysts anticipate 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 initiated a share buyback plan on Thursday, July 25th that permits the company to repurchase $3.30 billion in outstanding shares. This repurchase authorization permits the insurance provider to purchase up to 10.9% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board believes its shares are undervalued.

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 given a dividend of $0.47 per share. The ex-dividend date of this dividend is Tuesday, September 3rd. This represents a $1.88 annualized dividend and a yield of 1.62%. The Hartford Financial Services Group’s dividend payout ratio (DPR) is presently 21.36%.

Analyst Upgrades and Downgrades

HIG has been the subject of a number of recent analyst reports. The Goldman Sachs Group upped their price objective on The Hartford Financial Services Group from $105.00 to $111.00 and gave the company a “buy” rating in a report on Thursday, June 13th. Keefe, Bruyette & Woods upped their price target on 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. Wells Fargo & Company increased their price target on shares of The Hartford Financial Services Group from $122.00 to $134.00 and gave the company an “overweight” rating in a research report on Tuesday, September 17th. Piper Sandler boosted 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 report on Monday, July 29th. Finally, Bank of America cut their target price on shares of The Hartford Financial Services Group from $113.00 to $111.00 and set a “buy” rating on the stock 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 assigned a strong buy rating to the stock. According to MarketBeat, The Hartford Financial Services Group currently has a consensus rating of “Moderate Buy” and an average target price of $113.22.

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.