4,149 Shares in The Hartford Financial Services Group, Inc. (NYSE:HIG) Bought by Custom Index Systems LLC

Custom Index Systems LLC bought a new stake in The Hartford Financial Services Group, Inc. (NYSE:HIG) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 4,149 shares of the insurance provider’s stock, valued at approximately $417,000.

Other institutional investors have also recently bought and sold shares of the company. National Bank of Canada FI grew its holdings in shares of The Hartford Financial Services Group by 4.4% during the 4th quarter. National Bank of Canada FI now owns 78,654 shares of the insurance provider’s stock valued at $6,402,000 after purchasing an additional 3,297 shares during the last quarter. Spire Wealth Management grew its holdings in shares of The Hartford Financial Services Group by 11.0% during the 4th quarter. Spire Wealth Management now owns 2,266 shares of the insurance provider’s stock valued at $193,000 after purchasing an additional 224 shares during the last quarter. Private Advisor Group LLC grew its holdings in shares of The Hartford Financial Services Group by 11.4% during the 4th quarter. Private Advisor Group LLC now owns 16,592 shares of the insurance provider’s stock valued at $1,334,000 after purchasing an additional 1,699 shares during the last quarter. Apollon Wealth Management LLC grew its stake in shares of The Hartford Financial Services Group by 33.6% during the fourth quarter. Apollon Wealth Management LLC now owns 4,893 shares of the insurance provider’s stock worth $393,000 after buying an additional 1,230 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of The Hartford Financial Services Group by 1.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,859,422 shares of the insurance provider’s stock worth $149,460,000 after buying an additional 29,605 shares in the last quarter. Institutional investors and hedge funds own 93.42% of the company’s stock.

The Hartford Financial Services Group Stock Performance

Shares of The Hartford Financial Services Group stock opened at $114.49 on Friday. 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 business has a 50-day moving average price of $107.40 and a two-hundred day moving average price of $102.43. The Hartford Financial Services Group, Inc. has a 1-year low of $68.82 and a 1-year high of $117.46. The company has a market cap of $33.86 billion, a P/E ratio of 13.01, a PEG ratio of 0.93 and a beta of 0.93.

The Hartford Financial Services Group (NYSE:HIG) last issued its quarterly earnings results on Thursday, July 25th. The insurance provider reported $2.50 earnings per share for the quarter, topping 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 firm had revenue of $6.49 billion during the quarter, compared to the consensus estimate of $6.02 billion. During the same period last year, the business posted $1.88 EPS. The business’s revenue was up 7.2% compared to the same quarter last year. 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 firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 2nd. Investors of record on Tuesday, September 3rd will be given a $0.47 dividend. The ex-dividend date is Tuesday, September 3rd. This represents a $1.88 annualized dividend and a yield of 1.64%. The Hartford Financial Services Group’s payout ratio is 21.36%.

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

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on HIG. Keefe, Bruyette & Woods upped their price target on shares of 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. Barclays began coverage on shares of The Hartford Financial Services Group in a report on Wednesday. They set an “equal weight” rating and a $130.00 price target for the company. Morgan Stanley lowered their price target 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 report on Wednesday, July 10th. The Goldman Sachs Group upped their price target on shares of The Hartford Financial Services Group from $105.00 to $111.00 and gave the stock a “buy” rating in a report on Thursday, June 13th. Finally, Bank of America lowered their price target on shares of The Hartford Financial Services Group from $113.00 to $111.00 and set a “buy” rating for the company in a report on Thursday, July 11th. 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. Based on data from MarketBeat, The Hartford Financial Services Group currently has an average rating of “Moderate Buy” and a consensus target price of $111.94.

Insider Activity at The Hartford Financial Services Group

In related news, EVP Michael R. Fisher sold 4,088 shares of the firm’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $101.47, for a total value of $414,809.36. Following the transaction, the executive vice president now owns 14,818 shares of the company’s stock, valued at approximately $1,503,582.46. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 1.60% of the stock is owned by 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.