The Hartford Financial Services Group, Inc. (NYSE:HIG) Shares Sold by Chevy Chase Trust Holdings LLC

Chevy Chase Trust Holdings LLC trimmed its stake in shares of The Hartford Financial Services Group, Inc. (NYSE:HIG) by 2.3% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 162,080 shares of the insurance provider’s stock after selling 3,816 shares during the period. Chevy Chase Trust Holdings LLC’s holdings in The Hartford Financial Services Group were worth $16,296,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of HIG. Pallas Capital Advisors LLC grew its stake in shares of The Hartford Financial Services Group by 26.8% during the 2nd quarter. Pallas Capital Advisors LLC now owns 3,152 shares of the insurance provider’s stock worth $331,000 after purchasing an additional 666 shares during the period. Continuum Advisory LLC increased its holdings in The Hartford Financial Services Group by 4.1% in the second quarter. Continuum Advisory LLC now owns 34,105 shares of the insurance provider’s stock valued at $3,429,000 after buying an additional 1,356 shares in the last quarter. Raymond James Financial Services Advisors Inc. increased its stake in shares of The Hartford Financial Services Group by 17.0% in the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 120,991 shares of the insurance provider’s stock valued at $12,164,000 after purchasing an additional 17,584 shares in the last quarter. Nisa Investment Advisors LLC raised its holdings in The Hartford Financial Services Group by 1.4% in the 2nd quarter. Nisa Investment Advisors LLC now owns 87,606 shares of the insurance provider’s stock worth $8,849,000 after purchasing an additional 1,180 shares during the period. Finally, Stanley Laman Group Ltd. boosted its position in The Hartford Financial Services Group by 8.0% during the second quarter. Stanley Laman Group Ltd. now owns 31,734 shares of the insurance provider’s stock worth $3,191,000 after purchasing an additional 2,362 shares in the last quarter. 93.42% of the stock is owned by institutional investors and hedge funds.

The Hartford Financial Services Group Trading Down 0.3 %

The Hartford Financial Services Group stock traded down $0.30 during midday trading on Tuesday, hitting $110.89. 1,022,806 shares of the stock were exchanged, compared to its average volume of 1,648,183. The company has a current ratio of 0.32, a quick ratio of 0.32 and a debt-to-equity ratio of 0.28. The stock has a market capitalization of $32.80 billion, a price-to-earnings ratio of 12.61, a PEG ratio of 0.89 and a beta of 0.92. The stock’s 50-day simple moving average is $103.95 and its 200 day simple moving average is $100.25. The Hartford Financial Services Group, Inc. has a fifty-two week low of $68.82 and a fifty-two week high of $112.65.

The Hartford Financial Services Group (NYSE:HIG) last issued its quarterly earnings data on Thursday, July 25th. The insurance provider reported $2.50 earnings per share for the quarter, topping the consensus estimate 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 period in the prior year, the business posted $1.88 earnings per share. The firm’s revenue for the quarter was up 7.2% compared to the same quarter last year. On average, equities analysts anticipate that The Hartford Financial Services Group, Inc. will post 10.07 EPS for the current year.

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

The Hartford Financial Services Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 2nd. Shareholders of record on Tuesday, September 3rd will be paid a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a yield of 1.70%. The ex-dividend date is Tuesday, September 3rd. The Hartford Financial Services Group’s dividend payout ratio (DPR) is presently 21.36%.

Insider Buying and Selling at The Hartford Financial Services Group

In related news, EVP Michael R. Fisher sold 4,088 shares of The Hartford Financial Services Group stock in a transaction that occurred 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 completion of 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 legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 1.60% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on HIG shares. Royal Bank of Canada upped their target price on The Hartford Financial Services Group from $105.00 to $115.00 and gave the stock a “sector perform” rating in a research note on Monday, July 29th. The Goldman Sachs Group increased their price objective 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. Morgan Stanley cut 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 note on Wednesday, July 10th. Keefe, Bruyette & Woods raised their price target 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. Finally, Argus upgraded The Hartford Financial Services Group to a “strong-buy” rating in a report on Friday, August 2nd. Eight 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 company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price 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.