Andra AP fonden Grows Position in The Hartford Financial Services Group, Inc. (NYSE:HIG)

Andra AP fonden boosted its stake in The Hartford Financial Services Group, Inc. (NYSE:HIG) by 9.2% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 138,200 shares of the insurance provider’s stock after buying an additional 11,700 shares during the period. Andra AP fonden’s holdings in The Hartford Financial Services Group were worth $13,895,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of HIG. New Covenant Trust Company N.A. purchased a new stake in shares of The Hartford Financial Services Group in the 1st quarter valued at approximately $26,000. Quest Partners LLC raised its position in 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 valued at $29,000 after purchasing an additional 275 shares during the period. Cape Investment Advisory Inc. lifted its stake in The Hartford Financial Services Group by 189.9% during the fourth quarter. Cape Investment Advisory Inc. now owns 374 shares of the insurance provider’s stock worth $30,000 after purchasing an additional 245 shares in the last quarter. Bank & Trust Co purchased a new position in shares of The Hartford Financial Services Group during the second quarter worth $30,000. Finally, First United Bank & Trust acquired a new stake in shares of The Hartford Financial Services Group in the fourth quarter valued at $31,000. Institutional investors and hedge funds own 93.42% of the company’s stock.

Analyst Upgrades and Downgrades

HIG has been the topic of several research reports. 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 research note on Monday, July 29th. Bank of America lowered 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 note on Thursday, July 11th. Argus raised shares of The Hartford Financial Services Group to a “strong-buy” rating in a research note on Friday, August 2nd. Morgan Stanley decreased their price target on shares of The Hartford Financial Services Group from $109.00 to $107.00 and set an “equal weight” rating for the company in a research report on Wednesday, July 10th. Finally, JPMorgan Chase & Co. boosted their price target on shares of The Hartford Financial Services Group from $104.00 to $116.00 and gave the stock a “neutral” rating in a research note on Thursday, July 11th. 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 Hartford Financial Services Group currently has a consensus rating of “Moderate Buy” and an average target price of $111.94.

The Hartford Financial Services Group Stock Down 0.1 %

HIG stock opened at $116.84 on Wednesday. The stock has a market cap of $34.24 billion, a P/E ratio of 13.28, a PEG ratio of 0.92 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 Hartford Financial Services Group, Inc. has a twelve month low of $68.82 and a twelve month high of $117.68. The company’s 50 day moving average is $108.08 and its two-hundred day moving average is $102.79.

The Hartford Financial Services Group (NYSE:HIG) last announced its quarterly earnings results on Thursday, July 25th. The insurance provider reported $2.50 EPS for the quarter, topping 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 firm had revenue of $6.49 billion for the quarter, compared to analyst estimates of $6.02 billion. During the same period last year, the business earned $1.88 EPS. The Hartford Financial Services Group’s revenue for the quarter was up 7.2% compared to the same quarter last year. Research analysts expect 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 firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 2nd. Stockholders of record on Tuesday, September 3rd will be issued 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 1.61%. The Hartford Financial Services Group’s payout ratio is 21.36%.

The Hartford Financial Services Group declared that its board has authorized a stock repurchase 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 repurchase up to 10.9% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.

Insider Buying and Selling

In other news, EVP Michael R. Fisher sold 4,088 shares of the business’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $101.47, for a total transaction of $414,809.36. Following the transaction, the executive vice president now directly owns 14,818 shares in the company, valued at $1,503,582.46. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate 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.