McGlone Suttner Wealth Management Inc. Boosts Holdings in The Hartford Financial Services Group, Inc. (NYSE:HIG)

McGlone Suttner Wealth Management Inc. boosted its stake in The Hartford Financial Services Group, Inc. (NYSE:HIG) by 62.1% during the 3rd quarter, HoldingsChannel reports. The fund owned 5,131 shares of the insurance provider’s stock after buying an additional 1,966 shares during the period. McGlone Suttner Wealth Management Inc.’s holdings in The Hartford Financial Services Group were worth $603,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in HIG. Concurrent Investment Advisors LLC bought a new stake in The Hartford Financial Services Group during the second quarter valued at $213,000. BNP Paribas Financial Markets grew its position in shares of The Hartford Financial Services Group by 27.1% during the first quarter. BNP Paribas Financial Markets now owns 456,799 shares of the insurance provider’s stock worth $47,073,000 after acquiring an additional 97,465 shares during the last quarter. Banque Cantonale Vaudoise grew its position in shares of The Hartford Financial Services Group by 378.8% during the first quarter. Banque Cantonale Vaudoise now owns 16,725 shares of the insurance provider’s stock worth $1,724,000 after acquiring an additional 13,232 shares during the last quarter. Sei Investments Co. grew its position in shares of The Hartford Financial Services Group by 5.6% during the first quarter. Sei Investments Co. now owns 229,305 shares of the insurance provider’s stock worth $23,629,000 after acquiring an additional 12,067 shares during the last quarter. Finally, Skandinaviska Enskilda Banken AB publ grew its position in shares of The Hartford Financial Services Group by 27.6% during the second quarter. Skandinaviska Enskilda Banken AB publ now owns 221,896 shares of the insurance provider’s stock worth $22,309,000 after acquiring an additional 48,004 shares during the last quarter. 93.42% of the stock is owned by institutional investors and hedge funds.

The Hartford Financial Services Group Stock Up 0.9 %

Shares of HIG traded up $1.05 during trading hours on Friday, reaching $117.36. The company’s stock had a trading volume of 1,224,440 shares, compared to its average volume of 1,606,750. The firm has a market cap of $34.71 billion, a price-to-earnings ratio of 13.34, a P/E/G ratio of 0.96 and a beta of 0.93. The Hartford Financial Services Group, Inc. has a 1-year low of $68.92 and a 1-year high of $119.06. 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 of $113.93 and a two-hundred day moving average of $105.72.

The Hartford Financial Services Group (NYSE:HIG) last issued 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 for the quarter, compared to the consensus estimate of $6.02 billion. During the same quarter in the prior year, the company earned $1.88 EPS. The firm’s quarterly revenue was up 7.2% on a year-over-year basis. As a group, research analysts predict that The Hartford Financial Services Group, Inc. will post 10.09 EPS for the current fiscal year.

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

The Hartford Financial Services Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, October 2nd. Investors of record on Tuesday, September 3rd were issued a $0.47 dividend. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $1.88 dividend on an annualized basis and a yield of 1.60%. The Hartford Financial Services Group’s dividend payout ratio is currently 21.36%.

Wall Street Analysts Forecast Growth

HIG has been the subject of a number of recent analyst reports. Bank of America increased their target price on shares of The Hartford Financial Services Group from $121.00 to $124.00 and gave the company a “neutral” rating in a research report on Thursday. Citigroup lowered shares of The Hartford Financial Services Group from a “buy” rating to a “neutral” rating and decreased their target price for the company from $116.00 to $114.00 in a research report on Friday, June 28th. JPMorgan Chase & Co. increased their target price on shares of The Hartford Financial Services Group from $117.00 to $122.00 and gave the company a “neutral” rating in a research report on Thursday. Jefferies Financial Group increased their target price on shares of The Hartford Financial Services Group from $113.00 to $127.00 and gave the company a “hold” rating in a research report on Wednesday. Finally, Morgan Stanley decreased 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 research report on Wednesday, July 10th. Ten research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, The Hartford Financial Services Group presently has a consensus rating of “Moderate Buy” and an average target price of $118.94.

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.