Railway Pension Investments Ltd Purchases Shares of 32,900 The Hartford Financial Services Group, Inc. (NYSE:HIG)

Railway Pension Investments Ltd acquired a new position in shares of The Hartford Financial Services Group, Inc. (NYSE:HIG) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 32,900 shares of the insurance provider’s stock, valued at approximately $3,390,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Hotchkis & Wiley Capital Management LLC increased its stake in shares of The Hartford Financial Services Group by 26.2% in the fourth quarter. Hotchkis & Wiley Capital Management LLC now owns 6,119,863 shares of the insurance provider’s stock worth $491,915,000 after purchasing an additional 1,272,290 shares during the period. Victory Capital Management Inc. boosted its position in shares of The Hartford Financial Services Group by 2.1% in the fourth quarter. Victory Capital Management Inc. now owns 5,247,966 shares of the insurance provider’s stock valued at $421,832,000 after acquiring an additional 105,799 shares during the period. LSV Asset Management grew its stake in shares of The Hartford Financial Services Group by 3.5% in the fourth quarter. LSV Asset Management now owns 4,821,885 shares of the insurance provider’s stock worth $387,583,000 after acquiring an additional 165,190 shares during the last quarter. Norges Bank bought a new position in The Hartford Financial Services Group during the fourth quarter worth $278,704,000. Finally, Northern Trust Corp raised its stake in The Hartford Financial Services Group by 0.5% during the 4th quarter. Northern Trust Corp now owns 3,381,943 shares of the insurance provider’s stock valued at $271,841,000 after purchasing an additional 18,419 shares during the last quarter. 93.42% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at The Hartford Financial Services Group

In other news, CFO Beth Ann Costello sold 72,076 shares of the stock in a transaction on Wednesday, May 8th. The stock was sold at an average price of $99.71, for a total value of $7,186,697.96. Following the transaction, the chief financial officer now owns 69,169 shares of the company’s stock, valued at approximately $6,896,840.99. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, CFO Beth Ann Costello sold 72,076 shares of the stock in a transaction that occurred on Wednesday, May 8th. The shares were sold at an average price of $99.71, for a total value of $7,186,697.96. Following the sale, the chief financial officer now directly owns 69,169 shares in the company, valued at approximately $6,896,840.99. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Michael R. Fisher sold 4,088 shares of The Hartford Financial Services Group stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $101.47, for a total transaction of $414,809.36. Following the transaction, the executive vice president now directly owns 14,818 shares in the company, valued at approximately $1,503,582.46. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 94,499 shares of company stock valued at $9,449,309. 1.60% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on HIG shares. Royal Bank of Canada boosted their price objective on shares of The Hartford Financial Services Group from $105.00 to $115.00 and gave the stock a “sector perform” rating in a report on Monday, July 29th. Citigroup lowered The Hartford Financial Services Group from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $116.00 to $114.00 in a report on Friday, June 28th. Argus upped their target price on The Hartford Financial Services Group from $104.00 to $110.00 and gave the company a “buy” rating in a research note on Wednesday, May 15th. Morgan Stanley dropped their price objective 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 research note on Wednesday, July 10th. Finally, Roth Mkm upped their target price on shares of The Hartford Financial Services Group from $90.00 to $95.00 and gave the company a “neutral” rating in a research note on Friday, April 26th. Eight investment analysts have rated the stock with a hold rating and ten have given a 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 target price of $110.88.

The Hartford Financial Services Group Trading Down 0.9 %

HIG traded down $0.98 during mid-day trading on Friday, reaching $108.64. The stock had a trading volume of 1,850,189 shares, compared to its average volume of 1,505,915. The firm’s fifty day simple moving average is $102.40 and its two-hundred day simple moving average is $98.35. The stock has a market capitalization of $31.83 billion, a P/E ratio of 12.35, a P/E/G ratio of 0.89 and a beta of 0.92. The Hartford Financial Services Group, Inc. has a 52 week low of $68.82 and a 52 week high of $112.65. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.32 and a current ratio of 0.32.

The Hartford Financial Services Group (NYSE:HIG) last announced its quarterly earnings data 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 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 analyst estimates of $6.02 billion. During the same period last year, the company earned $1.88 earnings per share. The company’s revenue was up 7.2% on a year-over-year basis. On average, equities analysts predict that The Hartford Financial Services Group, Inc. will post 10.07 EPS for the current year.

The Hartford Financial Services Group declared that its board has initiated a share repurchase plan on Thursday, July 25th that allows the company to repurchase $3.30 billion in shares. This repurchase authorization allows the insurance provider to purchase up to 10.9% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s management believes its shares are undervalued.

The Hartford Financial Services Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 2nd. Investors of record on Tuesday, September 3rd will be issued a $0.47 dividend. The ex-dividend date is Tuesday, September 3rd. This represents a $1.88 annualized dividend and a yield of 1.73%. The Hartford Financial Services Group’s dividend payout ratio is currently 21.36%.

The Hartford Financial Services Group Company 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.