Denali Advisors LLC Buys 1,904 Shares of The Hartford Financial Services Group, Inc. (NYSE:HIG)

Denali Advisors LLC lifted its stake in shares of The Hartford Financial Services Group, Inc. (NYSE:HIG) by 374.8% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,412 shares of the insurance provider’s stock after acquiring an additional 1,904 shares during the quarter. Denali Advisors LLC’s holdings in The Hartford Financial Services Group were worth $243,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently added to or reduced their stakes in HIG. Edgestream Partners L.P. boosted its stake in The Hartford Financial Services Group by 32.2% during the second quarter. Edgestream Partners L.P. now owns 3,134 shares of the insurance provider’s stock worth $315,000 after acquiring an additional 764 shares in the last quarter. Renaissance Technologies LLC purchased a new position in shares of The Hartford Financial Services Group during the second quarter valued at approximately $2,755,000. Citizens Financial Group Inc. RI grew its holdings in The Hartford Financial Services Group by 39.6% during the second quarter. Citizens Financial Group Inc. RI now owns 7,288 shares of the insurance provider’s stock worth $736,000 after buying an additional 2,068 shares in the last quarter. One Capital Management LLC purchased a new stake in The Hartford Financial Services Group in the 2nd quarter valued at $203,000. Finally, Dimensional Fund Advisors LP lifted its stake in The Hartford Financial Services Group by 1.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 5,809,358 shares of the insurance provider’s stock valued at $584,177,000 after acquiring an additional 69,007 shares in the last quarter. Institutional investors own 93.42% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. Morgan Stanley lowered their target price 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 report on Wednesday, July 10th. Keefe, Bruyette & Woods lifted 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 research report on Thursday, August 1st. Citigroup lowered The Hartford Financial Services Group from a “buy” rating to a “neutral” rating and reduced their target price for the company from $116.00 to $114.00 in a report on Friday, June 28th. The Goldman Sachs Group lifted their price target on The Hartford Financial Services Group from $105.00 to $111.00 and gave the stock a “buy” rating in a report on Thursday, June 13th. Finally, Bank of America reduced their price objective on The Hartford Financial Services Group from $113.00 to $111.00 and set a “buy” rating for the company in a research note on Thursday, July 11th. Nine equities research 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. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $113.22.

Insider Buying and Selling

In other The Hartford Financial Services Group news, EVP Michael R. Fisher sold 4,088 shares of the firm’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 transaction, the executive vice president now owns 14,818 shares in the company, valued at approximately $1,503,582.46. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 1.60% of the stock is currently owned by insiders.

The Hartford Financial Services Group Price Performance

Shares of NYSE:HIG opened at $117.07 on Wednesday. The firm has a market capitalization of $34.62 billion, a PE ratio of 13.30, a P/E/G ratio of 0.91 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 company has a 50-day moving average price of $109.71 and a two-hundred day moving average price of $103.50. The Hartford Financial Services Group, Inc. has a twelve month low of $68.82 and a twelve month high of $117.68.

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 the consensus estimate 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 company had revenue of $6.49 billion during the quarter, compared to the consensus estimate of $6.02 billion. During the same period last year, the firm earned $1.88 EPS. The Hartford Financial Services Group’s revenue for the quarter was up 7.2% on a year-over-year basis. Equities analysts forecast that The Hartford Financial Services Group, Inc. will post 10.09 EPS for the current year.

The Hartford Financial Services Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 2nd. Investors of record on Tuesday, September 3rd will be paid a dividend of $0.47 per share. The ex-dividend date is Tuesday, September 3rd. This represents a $1.88 dividend on an annualized basis and a dividend yield of 1.61%. The Hartford Financial Services Group’s payout ratio is 21.36%.

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

The Hartford Financial Services Group 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.