The Hartford Financial Services Group, Inc. (NYSE:HIG) Shares Sold by Catalyst Financial Partners LLC

Catalyst Financial Partners LLC trimmed its holdings in The Hartford Financial Services Group, Inc. (NYSE:HIG) by 13.1% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 3,167 shares of the insurance provider’s stock after selling 476 shares during the quarter. Catalyst Financial Partners LLC’s holdings in The Hartford Financial Services Group were worth $318,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in HIG. BNP Paribas Financial Markets raised its position in shares of The Hartford Financial Services Group by 27.1% in the first quarter. BNP Paribas Financial Markets now owns 456,799 shares of the insurance provider’s stock worth $47,073,000 after acquiring an additional 97,465 shares during the period. Banque Cantonale Vaudoise raised its holdings in The Hartford Financial Services Group by 378.8% in the 1st quarter. Banque Cantonale Vaudoise now owns 16,725 shares of the insurance provider’s stock worth $1,724,000 after purchasing an additional 13,232 shares during the period. Sei Investments Co. boosted its position in The Hartford Financial Services Group by 5.6% during 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. Stifel Financial Corp grew its holdings in The Hartford Financial Services Group by 14.2% in the fourth quarter. Stifel Financial Corp now owns 261,995 shares of the insurance provider’s stock valued at $21,059,000 after purchasing an additional 32,534 shares during the period. Finally, SteelPeak Wealth LLC increased its position in shares of The Hartford Financial Services Group by 65.5% in the first quarter. SteelPeak Wealth LLC now owns 34,626 shares of the insurance provider’s stock valued at $3,584,000 after buying an additional 13,710 shares in the last quarter. 93.42% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on HIG. Royal Bank of Canada increased their target price on 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. Wells Fargo & Company dropped their target price on shares of The Hartford Financial Services Group from $117.00 to $111.00 and set an “overweight” rating on the stock in a research report on Monday, April 29th. Citigroup lowered shares of The Hartford Financial Services Group from a “buy” rating to a “neutral” rating and decreased their price target for the company from $116.00 to $114.00 in a research note on Friday, June 28th. JPMorgan Chase & Co. boosted their price objective on 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. Finally, Bank of America decreased their target price on The Hartford Financial Services Group from $113.00 to $111.00 and set a “buy” rating on the stock in a research report on Thursday, July 11th. Eight research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $110.88.

The Hartford Financial Services Group Trading Up 0.4 %

HIG stock traded up $0.49 during mid-day trading on Monday, hitting $113.11. 436,355 shares of the company were exchanged, compared to its average volume of 1,626,792. The business has a fifty day simple moving average of $104.91 and a 200-day simple moving average of $100.86. The firm has a market capitalization of $33.45 billion, a P/E ratio of 12.81, a PEG ratio of 0.89 and a beta of 0.92. The Hartford Financial Services Group, Inc. has a 12-month low of $68.82 and a 12-month high of $113.86. 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 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, 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 firm had revenue of $6.49 billion during the quarter, compared to the consensus estimate of $6.02 billion. During the same quarter last year, the firm earned $1.88 EPS. The firm’s revenue for the quarter was up 7.2% on a year-over-year basis. On average, equities research analysts predict that The Hartford Financial Services Group, Inc. will post 10.07 earnings per share for the current fiscal year.

The Hartford Financial Services Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 2nd. Investors of record on Tuesday, September 3rd will be issued a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a yield of 1.66%. The ex-dividend date of this dividend is Tuesday, September 3rd. The Hartford Financial Services Group’s dividend payout ratio (DPR) is 21.36%.

The Hartford Financial Services Group declared that its Board of Directors has approved a stock buyback plan on Thursday, July 25th that allows the company to repurchase $3.30 billion in shares. This repurchase authorization allows the insurance provider to reacquire up to 10.9% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s leadership believes its stock is undervalued.

Insider Buying and Selling at The Hartford Financial Services Group

In other news, EVP Michael R. Fisher sold 4,088 shares of the 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 sale, the executive vice president now 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 can be accessed through the SEC website. 1.60% of the stock is currently owned by corporate insiders.

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.