Sienna Gestion Purchases 47,589 Shares of The Hartford Financial Services Group, Inc. (NYSE:HIG)

Sienna Gestion lifted its position in shares of The Hartford Financial Services Group, Inc. (NYSE:HIG) by 1,439.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 50,896 shares of the insurance provider’s stock after purchasing an additional 47,589 shares during the quarter. Sienna Gestion’s holdings in The Hartford Financial Services Group were worth $5,115,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of HIG. Concurrent Investment Advisors LLC acquired a new stake in The Hartford Financial Services Group during the second quarter worth $213,000. BNP Paribas Financial Markets boosted its position in shares of The Hartford Financial Services Group by 27.1% during the 1st quarter. BNP Paribas Financial Markets now owns 456,799 shares of the insurance provider’s stock valued at $47,073,000 after acquiring an additional 97,465 shares in the last quarter. Banque Cantonale Vaudoise increased its stake in The Hartford Financial Services Group by 378.8% in the first quarter. Banque Cantonale Vaudoise now owns 16,725 shares of the insurance provider’s stock valued at $1,724,000 after acquiring an additional 13,232 shares during the period. Sei Investments Co. raised its position in The Hartford Financial Services Group by 5.6% in the first quarter. Sei Investments Co. now owns 229,305 shares of the insurance provider’s stock worth $23,629,000 after purchasing an additional 12,067 shares in the last quarter. Finally, Stifel Financial Corp lifted its stake in The Hartford Financial Services Group by 14.2% during the fourth quarter. Stifel Financial Corp now owns 261,995 shares of the insurance provider’s stock worth $21,059,000 after purchasing an additional 32,534 shares during the period. 93.42% of the stock is currently owned by institutional investors.

Insider Buying and Selling at The Hartford Financial Services Group

In other The Hartford Financial Services Group news, EVP Michael R. Fisher sold 4,088 shares of the company’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 completion of 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 filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 1.60% of the company’s stock.

The Hartford Financial Services Group Stock Down 0.3 %

NYSE HIG opened at $116.70 on Thursday. 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 Hartford Financial Services Group, Inc. has a 52 week low of $68.82 and a 52 week high of $117.84. 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 stock has a fifty day moving average of $110.04 and a 200-day moving average of $103.60.

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 for the quarter, topping the consensus estimate of $2.24 by $0.26. The firm had revenue of $6.49 billion during the quarter, compared to analysts’ expectations 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 quarterly revenue was up 7.2% compared to the same quarter last year. During the same period in the previous year, the business posted $1.88 EPS. On average, equities research analysts forecast that The Hartford Financial Services Group, Inc. will post 10.09 EPS for the current year.

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

The Hartford Financial Services Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 2nd. Investors of record on Tuesday, September 3rd will be issued a $0.47 dividend. The ex-dividend date is Tuesday, September 3rd. This represents a $1.88 annualized dividend and a yield of 1.61%. The Hartford Financial Services Group’s dividend payout ratio is currently 21.36%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on HIG shares. Piper Sandler increased their target price on The Hartford Financial Services Group from $112.00 to $125.00 and gave the stock an “overweight” rating in a report on Monday, July 29th. Argus upgraded The Hartford Financial Services Group to a “strong-buy” rating in a research note on Friday, August 2nd. Bank of America reduced 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 research note on Thursday, July 11th. Keefe, Bruyette & Woods lifted their price target on shares of The Hartford Financial Services Group from $120.00 to $133.00 and gave the company an “outperform” rating in a report on Thursday, August 1st. Finally, Wells Fargo & Company boosted 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. Nine investment 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 MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target 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.