Cwm LLC Increases Stake in The Hartford Financial Services Group, Inc. (NYSE:HIG)

Cwm LLC raised its holdings in shares of The Hartford Financial Services Group, Inc. (NYSE:HIG) by 7.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 15,048 shares of the insurance provider’s stock after acquiring an additional 1,106 shares during the quarter. Cwm LLC’s holdings in The Hartford Financial Services Group were worth $1,770,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of HIG. Atomi Financial Group Inc. lifted its position in The Hartford Financial Services Group by 14.8% during the third quarter. Atomi Financial Group Inc. now owns 4,809 shares of the insurance provider’s stock valued at $566,000 after purchasing an additional 619 shares in the last quarter. Insight Wealth Strategies LLC lifted its position in shares of The Hartford Financial Services Group by 1.2% during the 3rd quarter. Insight Wealth Strategies LLC now owns 15,088 shares of the insurance provider’s stock valued at $1,775,000 after buying an additional 182 shares in the last quarter. Clean Yield Group bought a new position in shares of The Hartford Financial Services Group during the 3rd quarter valued at approximately $33,000. McLean Asset Management Corp bought a new position in shares of The Hartford Financial Services Group during the 3rd quarter valued at approximately $208,000. Finally, GAMMA Investing LLC increased its holdings in The Hartford Financial Services Group by 24.8% in the 3rd quarter. GAMMA Investing LLC now owns 9,483 shares of the insurance provider’s stock worth $1,115,000 after acquiring an additional 1,884 shares in the last quarter. Institutional investors own 93.42% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have weighed in on HIG. Jefferies Financial Group lifted their price target on shares of The Hartford Financial Services Group from $113.00 to $127.00 and gave the company a “hold” rating in a report on Wednesday, October 9th. Wells Fargo & Company lifted their target price 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. JPMorgan Chase & Co. increased their price target on The Hartford Financial Services Group from $117.00 to $122.00 and gave the stock a “neutral” rating in a research note on Thursday, October 10th. UBS Group boosted their price objective 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. Finally, Royal Bank of Canada increased their target price on The Hartford Financial Services Group from $105.00 to $115.00 and gave the stock a “sector perform” rating in a research report on Monday, July 29th. Ten investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, The Hartford Financial Services Group presently has a consensus rating of “Moderate Buy” and a consensus target price of $120.59.

The Hartford Financial Services Group Stock Up 0.1 %

Shares of NYSE HIG opened at $118.57 on Wednesday. The stock has a market capitalization of $35.07 billion, a price-to-earnings ratio of 13.47, a P/E/G ratio of 0.96 and a beta of 0.93. The Hartford Financial Services Group, Inc. has a 12-month low of $68.92 and a 12-month high of $120.36. 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 firm’s 50-day moving average price is $114.48 and its 200-day moving average price is $105.96.

The Hartford Financial Services Group (NYSE:HIG) last posted its quarterly earnings data 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 business had revenue of $6.49 billion during the quarter, compared to analyst estimates 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 company’s revenue for the quarter was up 7.2% on a year-over-year basis. During the same period last year, the company earned $1.88 EPS. On average, equities research analysts anticipate that The Hartford Financial Services Group, Inc. will post 10.09 EPS for the current fiscal year.

The Hartford Financial Services Group declared that its board has authorized a share buyback plan on Thursday, July 25th that permits the company to buyback $3.30 billion in outstanding shares. This buyback authorization permits the insurance provider to buy up to 10.9% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s leadership believes its stock is undervalued.

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.