DoubleLine ETF Adviser LP Sells 238 Shares of The Hartford Financial Services Group, Inc. (NYSE:HIG)

DoubleLine ETF Adviser LP lowered its position in The Hartford Financial Services Group, Inc. (NYSE:HIG) by 4.4% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 5,197 shares of the insurance provider’s stock after selling 238 shares during the period. DoubleLine ETF Adviser LP’s holdings in The Hartford Financial Services Group were worth $523,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the company. Hotchkis & Wiley Capital Management LLC raised its stake in shares of The Hartford Financial Services Group by 26.2% in the fourth quarter. Hotchkis & Wiley Capital Management LLC now owns 6,119,863 shares of the insurance provider’s stock valued at $491,915,000 after acquiring an additional 1,272,290 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in shares of The Hartford Financial Services Group by 1.2% in the second quarter. Dimensional Fund Advisors LP now owns 5,809,358 shares of the insurance provider’s stock valued at $584,177,000 after acquiring an additional 69,007 shares during the last quarter. Northern Trust Corp raised its stake in shares of The Hartford Financial Services Group by 0.5% in the fourth quarter. Northern Trust Corp now owns 3,381,943 shares of the insurance provider’s stock valued at $271,841,000 after acquiring an additional 18,419 shares during the last quarter. Nordea Investment Management AB raised its stake in shares of The Hartford Financial Services Group by 7.9% in the first quarter. Nordea Investment Management AB now owns 3,191,914 shares of the insurance provider’s stock valued at $328,320,000 after acquiring an additional 233,742 shares during the last quarter. Finally, AQR Capital Management LLC raised its position in The Hartford Financial Services Group by 4.9% in the 2nd quarter. AQR Capital Management LLC now owns 1,497,960 shares of the insurance provider’s stock worth $150,605,000 after purchasing an additional 70,018 shares during the last quarter. Institutional investors own 93.42% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently weighed in on HIG shares. Wells Fargo & Company boosted their price objective on shares of The Hartford Financial Services Group from $122.00 to $134.00 and gave the stock an “overweight” rating in a research report on Tuesday, September 17th. Barclays started 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. Bank of America dropped 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. The Goldman Sachs Group boosted their price objective on shares of The Hartford Financial Services Group from $105.00 to $111.00 and gave the stock a “buy” rating in a research report on Thursday, June 13th. Finally, JPMorgan Chase & Co. boosted 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. Nine equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, The Hartford Financial Services Group presently has an average rating of “Moderate Buy” and a consensus price target of $113.22.

The Hartford Financial Services Group Price Performance

Shares of HIG stock opened at $116.58 on Friday. The Hartford Financial Services Group, Inc. has a 12-month low of $68.82 and a 12-month high of $117.84. The firm has a market capitalization of $34.48 billion, a price-to-earnings ratio of 13.25, a price-to-earnings-growth ratio of 0.94 and a beta of 0.93. 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 firm has a fifty day moving average of $111.41 and a 200-day moving average of $104.30.

The Hartford Financial Services Group (NYSE:HIG) last announced 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 company had revenue of $6.49 billion during the quarter, compared to analyst estimates of $6.02 billion. During the same quarter in the previous year, the business earned $1.88 EPS. The firm’s revenue was up 7.2% on a year-over-year basis. On average, equities research analysts forecast that The Hartford Financial Services Group, Inc. will post 10.09 earnings per share for the current year.

The Hartford Financial Services Group Announces Dividend

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

The Hartford Financial Services Group declared that its Board of Directors has authorized a share buyback program on Thursday, July 25th that authorizes the company to repurchase $3.30 billion in shares. This repurchase authorization authorizes the insurance provider to purchase up to 10.9% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s management believes its shares are undervalued.

Insider Buying and Selling

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

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.