Atlas Capital Advisors LLC Grows Stock Position in The Hartford Financial Services Group, Inc. (NYSE:HIG)

Atlas Capital Advisors LLC boosted its position in The Hartford Financial Services Group, Inc. (NYSE:HIG) by 2,381.0% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,878 shares of the insurance provider’s stock after buying an additional 2,762 shares during the period. Atlas Capital Advisors LLC’s holdings in The Hartford Financial Services Group were worth $289,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the company. New Covenant Trust Company N.A. purchased a new stake in shares of The Hartford Financial Services Group in the first quarter valued at about $26,000. Bank & Trust Co purchased a new stake in The Hartford Financial Services Group in the 2nd quarter valued at approximately $30,000. Family Firm Inc. acquired a new position in The Hartford Financial Services Group during the 2nd quarter worth approximately $31,000. Benjamin Edwards Inc. purchased a new position in shares of The Hartford Financial Services Group during the 1st quarter worth approximately $35,000. Finally, Cape Investment Advisory Inc. lifted its holdings in shares of The Hartford Financial Services Group by 189.9% in 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 period. 93.42% of the stock is owned by institutional investors and hedge funds.

The Hartford Financial Services Group Trading Down 0.1 %

NYSE:HIG traded down $0.06 on Friday, reaching $116.09. The stock had a trading volume of 2,096,739 shares, compared to its average volume of 1,629,504. The Hartford Financial Services Group, Inc. has a 12-month low of $68.82 and a 12-month high of $116.51. The company has a market cap of $34.33 billion, a price-to-earnings ratio of 13.19, a P/E/G ratio of 0.89 and a beta of 0.92. The firm’s fifty day moving average is $105.85 and its two-hundred day moving average is $101.38. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.32 and a quick ratio of 0.32.

The Hartford Financial Services Group (NYSE:HIG) last announced its earnings results on Thursday, July 25th. The insurance provider reported $2.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.24 by $0.26. The firm had revenue of $6.49 billion for 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 Hartford Financial Services Group’s revenue was up 7.2% compared to the same quarter last year. During the same quarter last year, the business earned $1.88 earnings per share. Equities analysts expect that The Hartford Financial Services Group, Inc. will post 10.07 EPS for the current fiscal year.

The Hartford Financial Services Group Dividend Announcement

The firm 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. The ex-dividend date of this dividend is Tuesday, September 3rd. This represents a $1.88 annualized dividend and a yield of 1.62%. The Hartford Financial Services Group’s payout ratio is currently 21.36%.

The Hartford Financial Services Group announced that its board has approved a share repurchase program on Thursday, July 25th that permits the company to buyback $3.30 billion in shares. This buyback authorization permits the insurance provider to purchase up to 10.9% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.

Analyst Ratings Changes

A number of brokerages recently weighed in on HIG. Keefe, Bruyette & Woods upped their price objective on The Hartford Financial Services Group from $120.00 to $133.00 and gave the stock an “outperform” rating in a report on Thursday, August 1st. JPMorgan Chase & Co. raised their price objective on shares of The Hartford Financial Services Group from $104.00 to $116.00 and gave the company a “neutral” rating in a research note on Thursday, July 11th. Bank of America lowered their target price on shares of The Hartford Financial Services Group from $113.00 to $111.00 and set a “buy” rating on the stock in a research report on Thursday, July 11th. The Goldman Sachs Group lifted their price target on shares of The Hartford Financial Services Group from $105.00 to $111.00 and gave the company a “buy” rating in a research report on Thursday, June 13th. Finally, Piper Sandler upped their price target on The Hartford Financial Services Group from $112.00 to $125.00 and gave the stock an “overweight” rating in a report on Monday, July 29th. Eight investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, The Hartford Financial Services Group currently has a consensus rating of “Moderate Buy” and an average price target of $110.88.

Insider Buying and Selling

In other The Hartford Financial Services Group news, EVP Michael R. Fisher sold 4,088 shares of The Hartford Financial Services Group 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 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 document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.60% of the stock is currently owned by company insiders.

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.