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

LVW Advisors LLC lessened its stake in The Hartford Financial Services Group, Inc. (NYSE:HIG) by 11.9% in the second quarter, HoldingsChannel.com reports. The firm owned 4,400 shares of the insurance provider’s stock after selling 596 shares during the quarter. LVW Advisors LLC’s holdings in The Hartford Financial Services Group were worth $442,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in HIG. Turtle Creek Wealth Advisors LLC purchased a new stake in shares of The Hartford Financial Services Group during the 4th quarter worth approximately $26,000. New Covenant Trust Company N.A. purchased a new position in shares of The Hartford Financial Services Group in the first quarter valued at $26,000. Cape Investment Advisory Inc. raised its stake in shares of 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 worth $30,000 after buying an additional 245 shares during the last quarter. Bank & Trust Co purchased a new stake in shares of The Hartford Financial Services Group in the 2nd quarter worth about $30,000. Finally, First United Bank & Trust acquired a new stake in The Hartford Financial Services Group in the 4th quarter valued at about $31,000. Institutional investors and hedge funds own 93.42% of the company’s stock.

Insider Buying and Selling

In other news, EVP Michael R. Fisher sold 4,088 shares of the company’s stock in a transaction dated 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 owns 14,818 shares of the company’s stock, valued at $1,503,582.46. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 1.60% of the stock is owned by corporate insiders.

The Hartford Financial Services Group Trading Down 0.2 %

Shares of NYSE HIG traded down $0.22 during trading on Tuesday, hitting $106.87. 158,101 shares of the company traded hands, compared to its average volume of 1,657,754. 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 firm has a market capitalization of $31.61 billion, a P/E ratio of 12.17, a P/E/G ratio of 0.89 and a beta of 0.92. The company has a 50-day moving average price of $103.00 and a 200-day moving average price of $99.45. The Hartford Financial Services Group, Inc. has a 1 year low of $68.82 and a 1 year high of $112.65.

The Hartford Financial Services Group (NYSE:HIG) last released its quarterly earnings data on Thursday, July 25th. The insurance provider reported $2.50 EPS for the quarter, topping analysts’ consensus estimates of $2.24 by $0.26. The company had revenue of $6.49 billion for the quarter, compared to the consensus estimate 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 business posted $1.88 EPS. On average, equities analysts predict that The Hartford Financial Services Group, Inc. will post 10.07 EPS for the current year.

The Hartford Financial Services Group declared that its Board of Directors has initiated a share buyback plan on Thursday, July 25th that allows the company to repurchase $3.30 billion in outstanding 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 often an indication that the company’s leadership believes its stock is undervalued.

The Hartford Financial Services Group Dividend Announcement

The firm 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 1.76%. The Hartford Financial Services Group’s payout ratio is 21.36%.

Analyst Ratings Changes

Several analysts have issued reports on HIG shares. The Goldman Sachs Group upped their price target on shares of The Hartford Financial Services Group from $105.00 to $111.00 and gave the company a “buy” rating in a report on Thursday, June 13th. JPMorgan Chase & Co. upped their target price on The Hartford Financial Services Group from $104.00 to $116.00 and gave the company a “neutral” rating in a research note on Thursday, July 11th. Piper Sandler boosted their price target on The Hartford Financial Services Group from $112.00 to $125.00 and gave the stock an “overweight” rating in a report on Monday, July 29th. Keefe, Bruyette & Woods upped their price objective on The Hartford Financial Services Group from $120.00 to $133.00 and gave the company an “outperform” rating in a research report on Thursday, August 1st. Finally, Morgan Stanley dropped their price objective on The Hartford Financial Services Group from $109.00 to $107.00 and set an “equal weight” rating for the company in a research report on Wednesday, July 10th. Eight investment 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 company’s stock. According to data from MarketBeat.com, The Hartford Financial Services Group currently has a consensus rating of “Moderate Buy” and a consensus price target 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.