Forsta AP Fonden Purchases 11,100 Shares of The Hartford Financial Services Group, Inc. (NYSE:HIG)

Forsta AP Fonden boosted its position in The Hartford Financial Services Group, Inc. (NYSE:HIG) by 11.1% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 111,000 shares of the insurance provider’s stock after acquiring an additional 11,100 shares during the period. Forsta AP Fonden’s holdings in The Hartford Financial Services Group were worth $11,160,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. American Century Companies Inc. raised its position in shares of The Hartford Financial Services Group by 11.6% in the second quarter. American Century Companies Inc. now owns 593,589 shares of the insurance provider’s stock valued at $59,679,000 after purchasing an additional 61,548 shares during the period. Bahl & Gaynor Inc. raised its holdings in The Hartford Financial Services Group by 3.4% during the 2nd quarter. Bahl & Gaynor Inc. now owns 1,229,133 shares of the insurance provider’s stock valued at $123,577,000 after acquiring an additional 40,400 shares during the period. Andra AP fonden lifted its position in shares of The Hartford Financial Services Group by 9.2% during the second quarter. Andra AP fonden now owns 138,200 shares of the insurance provider’s stock worth $13,895,000 after acquiring an additional 11,700 shares in the last quarter. Royal London Asset Management Ltd. boosted its holdings in shares of The Hartford Financial Services Group by 58.0% in the second quarter. Royal London Asset Management Ltd. now owns 198,705 shares of the insurance provider’s stock worth $19,978,000 after acquiring an additional 72,979 shares during the period. Finally, Choreo LLC purchased a new position in shares of The Hartford Financial Services Group in the second quarter valued at $594,000. 93.42% of the stock is owned by hedge funds and other institutional investors.

The Hartford Financial Services Group Stock Performance

The Hartford Financial Services Group stock opened at $115.16 on Friday. The firm has a fifty day simple moving average of $108.68 and a two-hundred day simple moving average of $102.96. 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, Inc. has a twelve month low of $68.82 and a twelve month high of $117.68. The company has a market capitalization of $34.06 billion, a PE ratio of 13.09, a P/E/G ratio of 0.92 and a beta of 0.93.

The Hartford Financial Services Group (NYSE:HIG) last released its earnings results on Thursday, July 25th. The insurance provider reported $2.50 earnings per share for the quarter, beating analysts’ consensus estimates of $2.24 by $0.26. The Hartford Financial Services Group had a return on equity of 21.20% and a net margin of 11.44%. The company had revenue of $6.49 billion during the quarter, compared to analyst estimates of $6.02 billion. During the same quarter in the previous year, the company posted $1.88 EPS. The Hartford Financial Services Group’s revenue for the quarter was up 7.2% on a year-over-year basis. Research analysts expect that The Hartford Financial Services Group, Inc. will post 10.09 EPS for the current year.

The Hartford Financial Services Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 2nd. Investors of record on Tuesday, September 3rd will be paid a $0.47 dividend. This represents a $1.88 annualized dividend and a dividend yield of 1.63%. The ex-dividend date of this dividend is Tuesday, September 3rd. The Hartford Financial Services Group’s payout ratio is 21.36%.

The Hartford Financial Services Group declared that its board has initiated a stock buyback plan on Thursday, July 25th that allows the company to buyback $3.30 billion in outstanding shares. This buyback authorization allows the insurance provider to repurchase up to 10.9% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s board believes its shares are undervalued.

Wall Street Analyst Weigh In

Several brokerages have commented on HIG. Keefe, Bruyette & Woods raised their target price on The Hartford Financial Services Group from $120.00 to $133.00 and gave the stock an “outperform” rating in a research note on Thursday, August 1st. Morgan Stanley reduced their price objective on shares of The Hartford Financial Services Group from $109.00 to $107.00 and set an “equal weight” rating for the company in a research note on Wednesday, July 10th. JPMorgan Chase & Co. increased their target price on shares of The Hartford Financial Services Group from $104.00 to $116.00 and gave the stock a “neutral” rating in a research note on Thursday, July 11th. Bank of America reduced their price target on shares of The Hartford Financial Services Group from $113.00 to $111.00 and set a “buy” rating for the company in a research report on Thursday, July 11th. Finally, Argus raised shares of The Hartford Financial Services Group to a “strong-buy” rating in a report on Friday, August 2nd. Nine investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued 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 target price of $111.94.

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 firm’s stock in a transaction on Monday, July 1st. The shares were sold at an average price of $101.47, for a total value 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 sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 1.60% of the stock is currently owned by company insiders.

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.