Vest Financial LLC Acquires 36,246 Shares of The Hartford Financial Services Group, Inc. (NYSE:HIG)

Vest Financial LLC lifted its holdings in The Hartford Financial Services Group, Inc. (NYSE:HIG) by 20.5% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 213,231 shares of the insurance provider’s stock after acquiring an additional 36,246 shares during the period. Vest Financial LLC owned approximately 0.07% of The Hartford Financial Services Group worth $21,438,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently made changes to their positions in the business. Achmea Investment Management B.V. raised its position in shares of The Hartford Financial Services Group by 168.8% in the 2nd quarter. Achmea Investment Management B.V. now owns 235,392 shares of the insurance provider’s stock worth $23,666,000 after acquiring an additional 147,823 shares in the last quarter. Forsta AP Fonden increased its position in The Hartford Financial Services Group by 11.1% in the 2nd quarter. Forsta AP Fonden now owns 111,000 shares of the insurance provider’s stock valued at $11,160,000 after buying an additional 11,100 shares in the last quarter. American Century Companies Inc. increased its position in The Hartford Financial Services Group by 11.6% in the 2nd quarter. American Century Companies Inc. now owns 593,589 shares of the insurance provider’s stock valued at $59,679,000 after buying an additional 61,548 shares in the last quarter. Bahl & Gaynor Inc. increased its position in The Hartford Financial Services Group by 3.4% in the 2nd quarter. Bahl & Gaynor Inc. now owns 1,229,133 shares of the insurance provider’s stock valued at $123,577,000 after buying an additional 40,400 shares in the last quarter. Finally, Andra AP fonden increased its position in The Hartford Financial Services Group by 9.2% in the 2nd quarter. Andra AP fonden now owns 138,200 shares of the insurance provider’s stock valued at $13,895,000 after buying an additional 11,700 shares in the last quarter. 93.42% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently commented on HIG shares. Citigroup lowered 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. boosted their target price on The Hartford Financial Services Group from $104.00 to $116.00 and gave the company a “neutral” rating in a research report on Thursday, July 11th. Barclays started coverage on The Hartford Financial Services Group in a research report on Wednesday, September 4th. They issued an “equal weight” rating and a $130.00 target price for the company. Morgan Stanley decreased their target price on 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. Finally, Keefe, Bruyette & Woods lifted their price target on 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. Nine equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $111.94.

The Hartford Financial Services Group Stock Performance

Shares of The Hartford Financial Services Group stock opened at $115.16 on Friday. The business’s fifty day simple moving average is $108.68 and its 200 day simple moving average is $102.96. The firm has a market capitalization of $34.06 billion, a P/E ratio of 13.09, a price-to-earnings-growth ratio of 0.92 and a beta of 0.93. The Hartford Financial Services Group, Inc. has a 12 month low of $68.82 and a 12 month high of $117.68. 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 Hartford Financial Services Group (NYSE:HIG) last issued its quarterly earnings results on Thursday, July 25th. The insurance provider reported $2.50 EPS for the quarter, topping analysts’ consensus estimates of $2.24 by $0.26. The business had revenue of $6.49 billion for the quarter, compared to analyst estimates of $6.02 billion. The Hartford Financial Services Group had a return on equity of 21.20% and a net margin of 11.44%. The Hartford Financial Services Group’s quarterly revenue was up 7.2% compared to the same quarter last year. During the same period last year, the company posted $1.88 earnings per share. As a group, analysts anticipate that The Hartford Financial Services Group, Inc. will post 10.09 EPS for the current year.

The Hartford Financial Services Group Dividend Announcement

The company 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 $0.47 dividend. The ex-dividend date is Tuesday, September 3rd. This represents a $1.88 annualized dividend and a dividend yield of 1.63%. The Hartford Financial Services Group’s payout ratio is presently 21.36%.

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

Insider Buying and Selling at The Hartford Financial Services Group

In other The Hartford Financial Services Group news, EVP Michael R. Fisher sold 4,088 shares of the business’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $101.47, for a total value of $414,809.36. Following the sale, the executive vice president now directly owns 14,818 shares in the company, valued at $1,503,582.46. The sale was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 1.60% of the company’s stock.

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.