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

Andra AP fonden grew its stake in shares of The Hartford Financial Services Group, Inc. (NYSE:HIG) by 9.2% during the second quarter, HoldingsChannel reports. 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 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Concurrent Investment Advisors LLC acquired a new position in The Hartford Financial Services Group during the 2nd quarter worth approximately $213,000. BNP Paribas Financial Markets boosted its stake 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 valued at $47,073,000 after purchasing an additional 97,465 shares during the period. Banque Cantonale Vaudoise grew its holdings in The Hartford Financial Services Group by 378.8% during the 1st quarter. Banque Cantonale Vaudoise now owns 16,725 shares of the insurance provider’s stock valued at $1,724,000 after purchasing an additional 13,232 shares in the last quarter. Sei Investments Co. increased its stake in The Hartford Financial Services Group by 5.6% during the 1st quarter. Sei Investments Co. now owns 229,305 shares of the insurance provider’s stock worth $23,629,000 after buying an additional 12,067 shares during the period. Finally, Stifel Financial Corp lifted its holdings in The Hartford Financial Services Group by 14.2% in the 4th quarter. Stifel Financial Corp now owns 261,995 shares of the insurance provider’s stock worth $21,059,000 after buying an additional 32,534 shares in the last quarter. Hedge funds and other institutional investors own 93.42% of the company’s stock.

The Hartford Financial Services Group Stock Down 0.1 %

HIG opened at $116.84 on Wednesday. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.32 and a quick ratio of 0.32. The Hartford Financial Services Group, Inc. has a 12 month low of $68.82 and a 12 month high of $117.68. The stock’s 50 day moving average price is $108.08 and its 200 day moving average price is $102.79. The stock has a market cap of $34.24 billion, a P/E ratio of 13.28, a P/E/G ratio of 0.92 and a beta of 0.93.

The Hartford Financial Services Group (NYSE:HIG) last issued its quarterly earnings results on Thursday, July 25th. The insurance provider reported $2.50 EPS for the quarter, beating analysts’ consensus estimates of $2.24 by $0.26. The company had revenue of $6.49 billion for 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 company’s quarterly revenue was up 7.2% compared to the same quarter last year. During the same period last year, the company earned $1.88 earnings per share. As a group, research analysts predict that The Hartford Financial Services Group, Inc. will post 10.09 earnings per share for the current 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 paid a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a dividend yield of 1.61%. The ex-dividend date is Tuesday, September 3rd. The Hartford Financial Services Group’s dividend payout ratio is currently 21.36%.

The Hartford Financial Services Group announced that its board has approved a share buyback 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 reacquire up to 10.9% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s board believes its shares are undervalued.

Analysts Set New Price Targets

HIG has been the subject of several research analyst reports. Argus raised shares of The Hartford Financial Services Group to a “strong-buy” rating in a research report on Friday, August 2nd. Royal Bank of Canada boosted their price target on The Hartford Financial Services Group from $105.00 to $115.00 and gave the company a “sector perform” rating in a report on Monday, July 29th. The Goldman Sachs Group upped their price target on 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. Barclays initiated coverage on shares of The Hartford Financial Services Group in a report on Wednesday, September 4th. They issued an “equal weight” rating and a $130.00 price objective for the company. Finally, Keefe, Bruyette & Woods increased their target price on shares of The Hartford Financial Services Group from $120.00 to $133.00 and gave the stock an “outperform” rating in a report on Thursday, August 1st. Nine research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, The Hartford Financial Services Group presently has an average rating of “Moderate Buy” and a consensus price target of $111.94.

Insider Activity

In related news, EVP Michael R. Fisher sold 4,088 shares of the business’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 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 SEC, which is available through the SEC website. Insiders own 1.60% of the company’s stock.

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.