International Assets Investment Management LLC Raises Position in The Hartford Financial Services Group, Inc. (NYSE:HIG)

International Assets Investment Management LLC grew its holdings in shares of The Hartford Financial Services Group, Inc. (NYSE:HIG) by 31,680.4% during the third quarter, HoldingsChannel reports. The firm owned 694,084 shares of the insurance provider’s stock after purchasing an additional 691,900 shares during the quarter. International Assets Investment Management LLC’s holdings in The Hartford Financial Services Group were worth $816,310,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Concurrent Investment Advisors LLC purchased a new position in shares of The Hartford Financial Services Group during the 2nd quarter worth $213,000. BNP Paribas Financial Markets lifted its stake in shares of The Hartford Financial Services Group by 27.1% during the 1st quarter. BNP Paribas Financial Markets now owns 456,799 shares of the insurance provider’s stock worth $47,073,000 after purchasing an additional 97,465 shares during the period. Sei Investments Co. lifted its stake in shares of The Hartford Financial Services Group by 5.6% during the 1st quarter. Sei Investments Co. now owns 229,305 shares of the insurance provider’s stock worth $23,629,000 after purchasing an additional 12,067 shares during the period. Skandinaviska Enskilda Banken AB publ lifted its stake in shares of The Hartford Financial Services Group by 27.6% during the 2nd quarter. Skandinaviska Enskilda Banken AB publ now owns 221,896 shares of the insurance provider’s stock worth $22,309,000 after purchasing an additional 48,004 shares during the period. Finally, SteelPeak Wealth LLC lifted its stake in shares of The Hartford Financial Services Group by 65.5% during the 1st quarter. SteelPeak Wealth LLC now owns 34,626 shares of the insurance provider’s stock worth $3,584,000 after purchasing an additional 13,710 shares during the period. Hedge funds and other institutional investors own 93.42% of the company’s stock.

The Hartford Financial Services Group Stock Down 0.2 %

Shares of The Hartford Financial Services Group stock opened at $119.85 on Thursday. The business has a 50-day moving average of $116.06 and a 200-day moving average of $106.71. 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 company has a market capitalization of $35.45 billion, a PE ratio of 13.62, a P/E/G ratio of 0.96 and a beta of 0.93. The Hartford Financial Services Group, Inc. has a 1-year low of $68.92 and a 1-year high of $123.23.

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 the consensus estimate of $2.24 by $0.26. The Hartford Financial Services Group had a net margin of 11.44% and a return on equity of 21.20%. The business had revenue of $6.49 billion for the quarter, compared to analysts’ expectations of $6.02 billion. During the same quarter last year, the company posted $1.88 earnings per share. The company’s quarterly revenue was up 7.2% compared to the same quarter last year. As a group, equities analysts forecast that The Hartford Financial Services Group, Inc. will post 10.09 EPS for the current fiscal year.

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

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. Argus upgraded The Hartford Financial Services Group to a “strong-buy” rating in a report on Friday, August 2nd. Bank of America upped their price objective on The Hartford Financial Services Group from $121.00 to $124.00 and gave the stock a “neutral” rating in a report on Thursday, October 10th. UBS Group upped their price objective on The Hartford Financial Services Group from $134.00 to $135.00 and gave the stock a “buy” rating in a report on Tuesday, October 15th. Keefe, Bruyette & Woods increased their price target on The Hartford Financial Services Group from $120.00 to $133.00 and gave the company an “outperform” rating in a report on Thursday, August 1st. Finally, Wells Fargo & Company increased their price target on The Hartford Financial Services Group from $122.00 to $134.00 and gave the company an “overweight” rating in a report on Tuesday, September 17th. Ten analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $120.59.

About The Hartford Financial Services Group

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.