DekaBank Deutsche Girozentrale Decreases Position in The Hartford Financial Services Group, Inc. (NYSE:HIG)

DekaBank Deutsche Girozentrale reduced its stake in The Hartford Financial Services Group, Inc. (NYSE:HIG) by 5.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 144,380 shares of the insurance provider’s stock after selling 8,575 shares during the period. DekaBank Deutsche Girozentrale’s holdings in The Hartford Financial Services Group were worth $14,738,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in HIG. New Covenant Trust Company N.A. acquired a new stake in The Hartford Financial Services Group during the 1st quarter worth $26,000. Turtle Creek Wealth Advisors LLC acquired a new stake in The Hartford Financial Services Group in the fourth quarter valued at $26,000. Benjamin Edwards Inc. acquired a new stake in The Hartford Financial Services Group in the 1st quarter valued at about $35,000. Cape Investment Advisory Inc. increased its holdings 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 acquiring an additional 245 shares in the last quarter. Finally, First United Bank & Trust purchased a new stake in shares of The Hartford Financial Services Group in the fourth quarter valued at about $31,000. Institutional investors and hedge funds own 93.42% of the company’s stock.

The Hartford Financial Services Group Trading Down 0.9 %

HIG traded down $0.98 during trading on Friday, hitting $108.64. 1,850,189 shares of the company’s stock were exchanged, compared to its average volume of 1,505,915. The Hartford Financial Services Group, Inc. has a 1 year low of $68.82 and a 1 year high of $112.65. The stock has a 50 day moving average price of $102.40 and a 200 day moving average price of $98.35. The firm has a market cap of $31.83 billion, a P/E ratio of 12.35, a price-to-earnings-growth ratio of 0.89 and a beta of 0.92. 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 (NYSE:HIG) last announced its quarterly earnings results on Thursday, July 25th. The insurance provider reported $2.50 earnings per share for the quarter, topping analysts’ consensus estimates 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 analysts’ expectations of $6.02 billion. During the same period in the prior year, the company earned $1.88 EPS. The firm’s revenue was up 7.2% on a year-over-year basis. As a group, analysts expect that The Hartford Financial Services Group, Inc. will post 10.07 EPS for the current fiscal year.

The Hartford Financial Services Group announced that its Board of Directors has initiated a share repurchase plan on Thursday, July 25th that authorizes the company to repurchase $3.30 billion in outstanding shares. This repurchase authorization authorizes the insurance provider to reacquire up to 10.9% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board believes its stock is undervalued.

The Hartford Financial Services Group Announces Dividend

The business 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. The ex-dividend date of this dividend is Tuesday, September 3rd. This represents a $1.88 annualized dividend and a dividend yield of 1.73%. The Hartford Financial Services Group’s payout ratio is currently 21.36%.

Insider Buying and Selling

In related news, EVP Michael R. Fisher sold 4,088 shares of The Hartford Financial Services Group 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 sale, the executive vice president now owns 14,818 shares of the company’s stock, valued at approximately $1,503,582.46. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, CFO Beth Ann Costello sold 72,076 shares of the firm’s stock in a transaction that occurred on Wednesday, May 8th. The shares were sold at an average price of $99.71, for a total transaction of $7,186,697.96. Following the completion of the sale, the chief financial officer now owns 69,169 shares of the company’s stock, valued at $6,896,840.99. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Michael R. Fisher sold 4,088 shares of The Hartford Financial Services Group stock in a transaction 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 completion of the sale, the executive vice president now owns 14,818 shares of the company’s stock, valued at approximately $1,503,582.46. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 94,499 shares of company stock valued at $9,449,309. Corporate insiders own 1.60% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on HIG shares. Argus lifted their price objective on The Hartford Financial Services Group from $104.00 to $110.00 and gave the stock a “buy” rating in a research report on Wednesday, May 15th. JPMorgan Chase & Co. lifted 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 report on Thursday, July 11th. Wells Fargo & Company cut their price objective on shares of The Hartford Financial Services Group from $117.00 to $111.00 and set an “overweight” rating for the company in a research report on Monday, April 29th. The Goldman Sachs Group raised their target price on shares of The Hartford Financial Services Group from $105.00 to $111.00 and gave the stock a “buy” rating in a research report on Thursday, June 13th. Finally, Roth Mkm boosted their price target on The Hartford Financial Services Group from $90.00 to $95.00 and gave the company a “neutral” rating in a report on Friday, April 26th. Eight equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $110.88.

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.