Baader Bank Aktiengesellschaft Has $743,000 Position in The Hartford Financial Services Group, Inc. (NYSE:HIG)

Baader Bank Aktiengesellschaft grew its stake in shares of The Hartford Financial Services Group, Inc. (NYSE:HIG) by 3.3% in the second quarter, Holdings Channel reports. The institutional investor owned 7,438 shares of the insurance provider’s stock after purchasing an additional 238 shares during the period. Baader Bank Aktiengesellschaft’s holdings in The Hartford Financial Services Group were worth $743,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in HIG. Norges Bank bought a new stake in The Hartford Financial Services Group in the fourth quarter valued at about $278,704,000. Hotchkis & Wiley Capital Management LLC increased its position in shares of The Hartford Financial Services Group by 26.2% during the fourth quarter. Hotchkis & Wiley Capital Management LLC now owns 6,119,863 shares of the insurance provider’s stock worth $491,915,000 after acquiring an additional 1,272,290 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its position in shares of The Hartford Financial Services Group by 72.0% during the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 1,335,594 shares of the insurance provider’s stock worth $137,633,000 after acquiring an additional 559,019 shares in the last quarter. Swedbank AB bought a new position in The Hartford Financial Services Group in the first quarter valued at $53,980,000. Finally, KBC Group NV grew its position in The Hartford Financial Services Group by 85.5% in the fourth quarter. KBC Group NV now owns 1,074,470 shares of the insurance provider’s stock valued at $86,366,000 after purchasing an additional 495,192 shares in the last quarter. Institutional investors and hedge funds own 93.42% of the company’s stock.

The Hartford Financial Services Group Stock Performance

NYSE HIG traded up $0.52 during trading hours on Thursday, reaching $110.13. 935,264 shares of the company were exchanged, compared to its average volume of 1,655,073. The Hartford Financial Services Group, Inc. has a 1 year low of $68.82 and a 1 year high of $112.65. The business’s 50 day simple moving average is $103.34 and its 200-day simple moving average is $99.67. 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 stock has a market capitalization of $32.57 billion, a P/E ratio of 12.46, a P/E/G ratio of 0.89 and a beta of 0.92.

The Hartford Financial Services Group (NYSE:HIG) last posted its earnings results 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 the consensus estimate of $6.02 billion. The Hartford Financial Services Group had a net margin of 11.44% and a return on equity of 21.20%. The company’s revenue was up 7.2% on a year-over-year basis. During the same quarter last year, the company earned $1.88 earnings per share. On average, equities research analysts expect that The Hartford Financial Services Group, Inc. will post 10.07 earnings per share for the current year.

The Hartford Financial Services Group declared that its Board of Directors has approved a stock repurchase program on Thursday, July 25th that permits the company to repurchase $3.30 billion in outstanding shares. This repurchase authorization permits the insurance provider to repurchase up to 10.9% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s leadership believes its shares are undervalued.

The Hartford Financial Services Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 2nd. Stockholders of record on Tuesday, September 3rd will be given a $0.47 dividend. The ex-dividend date of this dividend is Tuesday, September 3rd. This represents a $1.88 dividend on an annualized basis and a dividend yield of 1.71%. The Hartford Financial Services Group’s dividend payout ratio (DPR) is currently 21.36%.

Insider Activity

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

Wall Street Analyst Weigh In

A number of research firms recently weighed in on HIG. Royal Bank of Canada raised their target price on shares of The Hartford Financial Services Group from $105.00 to $115.00 and gave the company a “sector perform” rating in a research report on Monday, July 29th. JPMorgan Chase & Co. lifted their price objective on shares of The Hartford Financial Services Group from $104.00 to $116.00 and gave the company a “neutral” rating in a research report on Thursday, July 11th. The Goldman Sachs Group lifted their price objective on shares of The Hartford Financial Services Group from $105.00 to $111.00 and gave the company a “buy” rating in a research report on Thursday, June 13th. Roth Mkm lifted their price objective on shares of The Hartford Financial Services Group from $90.00 to $95.00 and gave the company a “neutral” rating in a research report on Friday, April 26th. Finally, Argus raised shares of The Hartford Financial Services Group to a “strong-buy” rating in a research report on Friday, August 2nd. Eight research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $110.88.

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.