The Hartford Financial Services Group, Inc. (NYSE:HIG) Stock Holdings Trimmed by LSV Asset Management

LSV Asset Management lowered its stake in shares of The Hartford Financial Services Group, Inc. (NYSE:HIG) by 2.7% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,654,236 shares of the insurance provider’s stock after selling 131,387 shares during the period. The Hartford Financial Services Group makes up approximately 1.0% of LSV Asset Management’s portfolio, making the stock its 10th biggest holding. LSV Asset Management owned approximately 1.57% of The Hartford Financial Services Group worth $467,937,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. New Covenant Trust Company N.A. purchased a new position in The Hartford Financial Services Group during the first quarter worth approximately $26,000. Cape Investment Advisory Inc. raised 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 during the period. Bank & Trust Co purchased a new position in The Hartford Financial Services Group during the second quarter worth approximately $30,000. First United Bank & Trust purchased a new position in The Hartford Financial Services Group during the fourth quarter worth approximately $31,000. Finally, Family Firm Inc. purchased a new position in shares of The Hartford Financial Services Group in the 2nd quarter valued at $31,000. Hedge funds and other institutional investors own 93.42% of the company’s stock.

Insiders Place Their Bets

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

The Hartford Financial Services Group Stock Down 0.5 %

HIG stock traded down $0.59 during mid-day trading on Friday, hitting $114.49. 1,281,883 shares of the company were exchanged, compared to its average volume of 1,628,513. The company has a market capitalization of $33.86 billion, a PE ratio of 13.01, a price-to-earnings-growth ratio of 0.93 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 $117.46. The firm has a fifty day simple moving average of $107.40 and a 200 day simple moving average of $102.43.

The Hartford Financial Services Group (NYSE:HIG) last announced its quarterly earnings data 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 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 net margin of 11.44% and a return on equity of 21.20%. The firm’s revenue for the quarter was up 7.2% compared to the same quarter last year. During the same period last year, the business earned $1.88 EPS. On average, research analysts forecast that The Hartford Financial Services Group, Inc. will post 10.09 earnings per share for the current fiscal year.

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

The Hartford Financial Services Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 2nd. Shareholders of record on Tuesday, September 3rd will be issued a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a yield of 1.64%. The ex-dividend date is Tuesday, September 3rd. The Hartford Financial Services Group’s dividend payout ratio is currently 21.36%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on HIG shares. Morgan Stanley cut their target price on shares of The Hartford Financial Services Group from $109.00 to $107.00 and set an “equal weight” rating on the stock in a research note on Wednesday, July 10th. Bank of America cut their target price on shares of The Hartford Financial Services Group from $113.00 to $111.00 and set a “buy” rating on the stock in a research note on Thursday, July 11th. Barclays started coverage on shares of The Hartford Financial Services Group in a research note on Wednesday. They issued an “equal weight” rating and a $130.00 target price on the stock. Piper Sandler raised their target price on shares of The Hartford Financial Services Group from $112.00 to $125.00 and gave the company an “overweight” rating in a research note on Monday, July 29th. Finally, Citigroup downgraded shares of The Hartford Financial Services Group from a “buy” rating to a “neutral” rating and cut their target price for the company from $116.00 to $114.00 in a research note on Friday, June 28th. Nine investment 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 company. According to MarketBeat.com, The Hartford Financial Services Group presently has an average rating of “Moderate Buy” and a consensus price target of $111.94.

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.