The Hartford Financial Services Group, Inc. (NYSE:HIG) Shares Bought by PFG Investments LLC

PFG Investments LLC boosted its holdings in shares of The Hartford Financial Services Group, Inc. (NYSE:HIG) by 6.4% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,493 shares of the insurance provider’s stock after purchasing an additional 150 shares during the period. PFG Investments LLC’s holdings in The Hartford Financial Services Group were worth $251,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Ashton Thomas Private Wealth LLC acquired a new position in The Hartford Financial Services Group during the second quarter valued at $159,000. Quest Partners LLC raised its position in shares of The Hartford Financial Services Group by 2,750.0% in the second 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. Oak Thistle LLC acquired a new position in shares of The Hartford Financial Services Group in the second quarter worth about $320,000. Mount Lucas Management LP raised its position in shares of The Hartford Financial Services Group by 45.9% in the second quarter. Mount Lucas Management LP now owns 78,481 shares of the insurance provider’s stock worth $7,890,000 after acquiring an additional 24,691 shares during the period. Finally, Ballentine Partners LLC raised its position in shares of The Hartford Financial Services Group by 8.0% in the second quarter. Ballentine Partners LLC now owns 24,349 shares of the insurance provider’s stock worth $2,448,000 after acquiring an additional 1,811 shares during the period. 93.42% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

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

The Hartford Financial Services Group Stock Up 0.2 %

Shares of NYSE HIG opened at $115.36 on Friday. The Hartford Financial Services Group, Inc. has a 12-month low of $68.82 and a 12-month high of $117.68. The stock has a market cap of $33.80 billion, a PE ratio of 13.11, a P/E/G ratio of 0.91 and a beta of 0.93. 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 company has a 50-day moving average of $109.01 and a 200 day moving average of $103.09.

The Hartford Financial Services Group (NYSE:HIG) last announced 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 Hartford Financial Services Group had a net margin of 11.44% and a return on equity of 21.20%. The company had revenue of $6.49 billion during the quarter, compared to analysts’ expectations of $6.02 billion. During the same quarter in the prior year, the company earned $1.88 EPS. The Hartford Financial Services Group’s revenue was up 7.2% compared to the same quarter last year. As a group, sell-side 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 has authorized a stock repurchase plan 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 plans are generally an indication that the company’s board of directors believes its stock is undervalued.

The Hartford Financial Services Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 2nd. Stockholders of record on Tuesday, September 3rd will be paid a $0.47 dividend. The ex-dividend date of this dividend is Tuesday, September 3rd. This represents a $1.88 annualized dividend and a dividend yield of 1.63%. The Hartford Financial Services Group’s dividend payout ratio (DPR) is 21.36%.

Analysts Set New Price Targets

A number of brokerages have weighed in on HIG. Royal Bank of Canada upped their price objective on shares of 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. Barclays began coverage on shares of The Hartford Financial Services Group in a research report on Wednesday, September 4th. They issued an “equal weight” rating and a $130.00 price objective for the company. JPMorgan Chase & Co. upped their price objective on shares of 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. Bank of America decreased their price objective on shares of The Hartford Financial Services Group from $113.00 to $111.00 and set a “buy” rating for the company in a research report on Thursday, July 11th. Finally, Keefe, Bruyette & Woods boosted their target price on shares of The Hartford Financial Services Group from $120.00 to $133.00 and gave the stock an “outperform” rating in a research note on Thursday, August 1st. Nine analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $111.94.

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.