UMB Bank n.a. Sells 152 Shares of The Hartford Financial Services Group, Inc. (NYSE:HIG)

UMB Bank n.a. lessened its holdings in The Hartford Financial Services Group, Inc. (NYSE:HIG) by 3.2% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,565 shares of the insurance provider’s stock after selling 152 shares during the quarter. UMB Bank n.a.’s holdings in The Hartford Financial Services Group were worth $537,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in the business. BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its stake in The Hartford Financial Services Group by 72.0% in the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 1,335,594 shares of the insurance provider’s stock valued at $137,633,000 after acquiring an additional 559,019 shares during the last quarter. Swedbank AB bought a new stake in shares of The Hartford Financial Services Group in the 1st quarter worth approximately $53,980,000. Healthcare of Ontario Pension Plan Trust Fund lifted its stake in The Hartford Financial Services Group by 301.2% in the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 333,000 shares of the insurance provider’s stock valued at $34,316,000 after purchasing an additional 250,000 shares during the last quarter. Nordea Investment Management AB grew its holdings in The Hartford Financial Services Group by 7.9% during the first quarter. Nordea Investment Management AB now owns 3,191,914 shares of the insurance provider’s stock valued at $328,320,000 after purchasing an additional 233,742 shares during the period. Finally, M&G Plc purchased a new stake in The Hartford Financial Services Group in the first quarter worth $21,709,000. 93.42% of the stock is owned by hedge funds and other institutional investors.

The Hartford Financial Services Group Stock Performance

Shares of HIG opened at $117.36 on Friday. The Hartford Financial Services Group, Inc. has a 12-month low of $68.92 and a 12-month high of $119.06. 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 company has a market cap of $34.71 billion, a PE ratio of 13.34, a price-to-earnings-growth ratio of 0.96 and a beta of 0.93. The stock has a 50-day moving average price of $113.76 and a 200-day moving average price of $105.57.

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, beating the consensus estimate of $2.24 by $0.26. The business had revenue of $6.49 billion during 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 for the quarter was up 7.2% on a year-over-year basis. During the same period in the previous year, the business posted $1.88 earnings per share. As a group, equities analysts forecast that The Hartford Financial Services Group, Inc. will post 10.09 earnings per share for the current fiscal year.

The Hartford Financial Services Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, October 2nd. Investors of record on Tuesday, September 3rd were paid 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 presently 21.36%.

The Hartford Financial Services Group declared that its board has initiated a share repurchase program on Thursday, July 25th that permits the company to repurchase $3.30 billion in shares. This repurchase authorization permits the insurance provider to repurchase up to 10.9% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s management believes its shares are undervalued.

Analyst Ratings Changes

Several research analysts have recently weighed in on the company. Royal Bank of Canada increased their price target 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. Bank of America lifted their target price on shares of The Hartford Financial Services Group from $121.00 to $124.00 and gave the stock a “neutral” rating in a research note on Thursday. Citigroup cut shares of The Hartford Financial Services Group from a “buy” rating to a “neutral” rating and dropped their price target for the company from $116.00 to $114.00 in a research note on Friday, June 28th. Argus upgraded shares of The Hartford Financial Services Group to a “strong-buy” rating in a research note on Friday, August 2nd. Finally, Piper Sandler increased their target price on The Hartford Financial Services Group from $112.00 to $125.00 and gave the stock an “overweight” rating in a research report on Monday, July 29th. Ten equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $118.94.

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.