Lighthouse Investment Partners LLC Has $30.10 Million Stake in The Hartford Financial Services Group, Inc. (NYSE:HIG)

Lighthouse Investment Partners LLC raised its position in shares of The Hartford Financial Services Group, Inc. (NYSE:HIG) by 237.1% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 299,364 shares of the insurance provider’s stock after acquiring an additional 210,546 shares during the period. The Hartford Financial Services Group makes up about 1.2% of Lighthouse Investment Partners LLC’s investment portfolio, making the stock its 5th largest position. Lighthouse Investment Partners LLC owned 0.10% of The Hartford Financial Services Group worth $30,098,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the company. Bailard Inc. boosted its holdings in The Hartford Financial Services Group by 0.5% during the 2nd quarter. Bailard Inc. now owns 19,378 shares of the insurance provider’s stock valued at $1,948,000 after acquiring an additional 101 shares during the period. Dorsey & Whitney Trust CO LLC grew its holdings in shares of The Hartford Financial Services Group by 3.1% in the first quarter. Dorsey & Whitney Trust CO LLC now owns 3,736 shares of the insurance provider’s stock worth $385,000 after purchasing an additional 114 shares during the last quarter. Covestor Ltd grew its holdings in shares of The Hartford Financial Services Group by 28.8% in the first quarter. Covestor Ltd now owns 519 shares of the insurance provider’s stock worth $54,000 after purchasing an additional 116 shares during the last quarter. EverSource Wealth Advisors LLC lifted its holdings in The Hartford Financial Services Group by 34.4% during the 1st quarter. EverSource Wealth Advisors LLC now owns 473 shares of the insurance provider’s stock valued at $46,000 after buying an additional 121 shares in the last quarter. Finally, Avantax Advisory Services Inc. boosted its position in The Hartford Financial Services Group by 2.8% in the 1st quarter. Avantax Advisory Services Inc. now owns 4,543 shares of the insurance provider’s stock valued at $468,000 after buying an additional 122 shares during the period. Institutional investors own 93.42% of the company’s stock.

Analyst Upgrades and Downgrades

HIG has been the topic of a number of research reports. Keefe, Bruyette & Woods raised 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 report on Thursday, August 1st. Bank of America decreased their target price on 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. Wells Fargo & Company upped their target price on The Hartford Financial Services Group from $122.00 to $134.00 and gave the stock an “overweight” rating in a report on Tuesday, September 17th. Citigroup lowered The Hartford Financial Services Group from a “buy” rating to a “neutral” rating and cut their price target for the company from $116.00 to $114.00 in a research note on Friday, June 28th. Finally, 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 note on Monday, July 29th. Nine 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 company. According to MarketBeat, The Hartford Financial Services Group currently has an average rating of “Moderate Buy” and an average price target of $113.22.

Insider Buying and Selling at The Hartford Financial Services Group

In other news, EVP Michael R. Fisher sold 4,088 shares of the business’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 sale, the executive vice president now directly owns 14,818 shares of the company’s stock, valued at $1,503,582.46. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 1.60% of the stock is currently owned by company insiders.

The Hartford Financial Services Group Stock Performance

Shares of HIG opened at $116.58 on Friday. 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 has a market cap of $34.48 billion, a PE ratio of 13.25, a P/E/G ratio of 0.94 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 stock has a fifty day moving average price of $111.41 and a 200-day moving average price of $104.30.

The Hartford Financial Services Group (NYSE:HIG) last released its quarterly earnings results on Thursday, July 25th. The insurance provider reported $2.50 EPS for the quarter, beating analysts’ consensus estimates of $2.24 by $0.26. The Hartford Financial Services Group had a return on equity of 21.20% and a net margin of 11.44%. The company had revenue of $6.49 billion during the quarter, compared to analysts’ expectations of $6.02 billion. During the same period last year, the business posted $1.88 earnings per share. The firm’s revenue was up 7.2% compared to the same quarter last year. Equities research analysts predict that The Hartford Financial Services Group, Inc. will post 10.09 earnings per share for the current fiscal year.

The Hartford Financial Services Group Dividend Announcement

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

The Hartford Financial Services Group announced that its Board of Directors has approved 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 buy up to 10.9% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its shares are 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.