Baader Bank Aktiengesellschaft Boosts Stock Position in The Hartford Financial Services Group, Inc. (NYSE:HIG)

Baader Bank Aktiengesellschaft raised its position in shares of The Hartford Financial Services Group, Inc. (NYSE:HIG) by 3.3% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 7,438 shares of the insurance provider’s stock after purchasing an additional 238 shares during the quarter. Baader Bank Aktiengesellschaft’s holdings in The Hartford Financial Services Group were worth $743,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. New Covenant Trust Company N.A. purchased a new stake in The Hartford Financial Services Group during the 1st quarter valued at about $26,000. Cape Investment Advisory Inc. grew its stake in The Hartford Financial Services Group by 189.9% during the 4th quarter. Cape Investment Advisory Inc. now owns 374 shares of the insurance provider’s stock valued at $30,000 after purchasing an additional 245 shares during the last quarter. Bank & Trust Co acquired a new position in shares of The Hartford Financial Services Group in the 2nd quarter valued at about $30,000. First United Bank & Trust acquired a new position in shares of The Hartford Financial Services Group in the 4th quarter valued at about $31,000. Finally, Benjamin Edwards Inc. acquired a new position in shares of The Hartford Financial Services Group in the 1st quarter valued at about $35,000. Hedge funds and other institutional investors own 93.42% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on HIG shares. Citigroup cut The Hartford Financial Services Group from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $116.00 to $114.00 in a report on Friday, June 28th. Wells Fargo & Company decreased their price objective on The Hartford Financial Services Group from $117.00 to $111.00 and set an “overweight” rating for the company in a report on Monday, April 29th. JPMorgan Chase & Co. boosted their price objective on The Hartford Financial Services Group from $104.00 to $116.00 and gave the company a “neutral” rating in a report on Thursday, July 11th. Argus raised The Hartford Financial Services Group to a “strong-buy” rating in a report on Friday, August 2nd. Finally, Roth Mkm upped their price target on The Hartford Financial Services Group from $90.00 to $95.00 and gave the stock a “neutral” rating in a report on Friday, April 26th. Eight equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, The Hartford Financial Services Group currently has a consensus rating of “Moderate Buy” and a consensus price target of $110.88.

Insider Activity

In other news, EVP Michael R. Fisher sold 4,088 shares of the company’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $101.47, for a total value of $414,809.36. Following the completion of the sale, 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 the SEC website. Company insiders own 1.60% of the company’s stock.

The Hartford Financial Services Group Price Performance

NYSE:HIG traded up $0.52 during trading hours on Thursday, hitting $110.13. 935,264 shares of the stock were exchanged, compared to its average volume of 1,655,073. The Hartford Financial Services Group, Inc. has a 52-week low of $68.82 and a 52-week high of $112.65. The firm’s fifty day moving average price is $103.34 and its 200 day moving average price is $99.67. 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 company has a market cap 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 quarterly earnings data 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 company had revenue of $6.49 billion during the quarter, compared to analyst estimates of $6.02 billion. The Hartford Financial Services Group had a return on equity of 21.20% and a net margin of 11.44%. The Hartford Financial Services Group’s quarterly revenue was up 7.2% on a year-over-year basis. During the same period in the previous year, the business earned $1.88 EPS. As a group, equities research analysts anticipate that The Hartford Financial Services Group, Inc. will post 10.07 EPS for the current fiscal year.

The Hartford Financial Services Group Announces Dividend

The business also recently declared 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 presently 21.36%.

The Hartford Financial Services Group declared that its Board of Directors has authorized a stock repurchase program on Thursday, July 25th that allows the company to repurchase $3.30 billion in shares. This repurchase authorization allows the insurance provider to repurchase up to 10.9% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board believes its stock is undervalued.

The Hartford Financial Services Group Company 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.