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

AdvisorShares Investments LLC trimmed its position in The Hartford Financial Services Group, Inc. (NYSE:HIG) by 9.0% in the second quarter, Holdings Channel.com reports. The fund owned 4,640 shares of the insurance provider’s stock after selling 460 shares during the period. AdvisorShares Investments LLC’s holdings in The Hartford Financial Services Group were worth $463,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the company. New Covenant Trust Company N.A. bought a new stake in The Hartford Financial Services Group during the first quarter valued at $26,000. Quest Partners LLC boosted its holdings in shares of The Hartford Financial Services Group by 2,750.0% in the 2nd quarter. Quest Partners LLC now owns 285 shares of the insurance provider’s stock valued at $29,000 after buying an additional 275 shares during the period. Cape Investment Advisory Inc. grew its position 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 valued at $30,000 after buying an additional 245 shares during the last quarter. Bank & Trust Co acquired a new stake in The Hartford Financial Services Group during the second quarter worth about $30,000. Finally, Family Firm Inc. bought a new position in The Hartford Financial Services Group in the second quarter worth about $31,000. 93.42% of the stock is owned by institutional investors and hedge funds.

Insider Activity at The Hartford Financial Services Group

In other The Hartford Financial Services Group news, EVP Michael R. Fisher sold 4,088 shares of the business’s stock in a transaction dated 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 in the company, valued at approximately $1,503,582.46. The transaction was disclosed in a filing with the SEC, which is available through this link. 1.60% of the stock is currently owned by corporate insiders.

The Hartford Financial Services Group Trading Down 2.4 %

Shares of The Hartford Financial Services Group stock opened at $114.06 on Thursday. The business has a fifty day simple moving average of $108.37 and a 200-day simple moving average of $102.87. The Hartford Financial Services Group, Inc. has a fifty-two week low of $68.82 and a fifty-two week high of $117.68. The firm has a market cap of $33.73 billion, a price-to-earnings ratio of 12.96, a price-to-earnings-growth ratio of 0.92 and a beta of 0.93. 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 Hartford Financial Services Group (NYSE:HIG) last released its earnings results on Thursday, July 25th. The insurance provider reported $2.50 EPS for the quarter, beating the consensus estimate of $2.24 by $0.26. The business 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 business’s quarterly revenue was up 7.2% on a year-over-year basis. During the same period in the prior year, the business earned $1.88 earnings per share. On average, equities analysts forecast that The Hartford Financial Services Group, Inc. will post 10.09 EPS for the current fiscal year.

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

The Hartford Financial Services Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 2nd. Investors 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 1.65%. The Hartford Financial Services Group’s dividend payout ratio (DPR) is 21.36%.

Analysts Set New Price Targets

HIG has been the topic of a number of research reports. Morgan Stanley dropped their price target on The Hartford Financial Services Group from $109.00 to $107.00 and set an “equal weight” rating on the stock in a research report on Wednesday, July 10th. Royal Bank of Canada raised their target price on The Hartford Financial Services Group from $105.00 to $115.00 and gave the company a “sector perform” rating in a research note on Monday, July 29th. Piper Sandler boosted their price target on shares of The Hartford Financial Services Group from $112.00 to $125.00 and gave the company an “overweight” rating in a report on Monday, July 29th. Bank of America dropped their price objective on shares of The Hartford Financial Services Group from $113.00 to $111.00 and set a “buy” rating on the stock in a report on Thursday, July 11th. Finally, Keefe, Bruyette & Woods boosted their target price on shares of The Hartford Financial Services Group from $120.00 to $133.00 and gave the company an “outperform” rating in a research note on Thursday, August 1st. Nine analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $111.94.

About The Hartford Financial Services Group

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.