Sustainable Insight Capital Management LLC Has $3.43 Million Holdings in The Hartford Financial Services Group, Inc. (NYSE:HIG)

Sustainable Insight Capital Management LLC raised its stake in shares of The Hartford Financial Services Group, Inc. (NYSE:HIG) by 21.8% in the second quarter, Holdings Channel.com reports. The firm owned 34,100 shares of the insurance provider’s stock after buying an additional 6,100 shares during the period. The Hartford Financial Services Group comprises approximately 1.7% of Sustainable Insight Capital Management LLC’s investment portfolio, making the stock its 19th biggest holding. Sustainable Insight Capital Management LLC’s holdings in The Hartford Financial Services Group were worth $3,428,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in HIG. New Covenant Trust Company N.A. bought a new position in shares of The Hartford Financial Services Group in the first quarter valued at approximately $26,000. Cape Investment Advisory Inc. raised its position in The Hartford Financial Services Group by 189.9% in the 4th quarter. Cape Investment Advisory Inc. now owns 374 shares of the insurance provider’s stock valued at $30,000 after buying an additional 245 shares during the last quarter. Bank & Trust Co bought a new position in The Hartford Financial Services Group during the 2nd quarter valued at $30,000. First United Bank & Trust bought a new stake in shares of The Hartford Financial Services Group in the 4th quarter worth $31,000. Finally, Family Firm Inc. bought a new stake in shares of The Hartford Financial Services Group in the 2nd quarter worth $31,000. Institutional investors and hedge funds own 93.42% of the company’s stock.

The Hartford Financial Services Group Trading Down 0.5 %

The Hartford Financial Services Group stock opened at $114.49 on Friday. 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, Inc. has a fifty-two week low of $68.82 and a fifty-two week high of $117.46. The stock 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 firm’s fifty day moving average price is $107.40 and its 200-day moving average price is $102.36.

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 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 company’s quarterly revenue was up 7.2% compared to the same quarter last year. During the same period in the prior year, the company earned $1.88 EPS. Equities research 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 business also recently announced a quarterly dividend, which will be paid on Wednesday, October 2nd. Investors of record on Tuesday, September 3rd will be paid a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a yield of 1.64%. The ex-dividend date of this dividend is Tuesday, September 3rd. The Hartford Financial Services Group’s dividend payout ratio is currently 21.36%.

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

Wall Street Analysts Forecast Growth

HIG has been the topic of several analyst reports. Keefe, Bruyette & Woods boosted 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. The Goldman Sachs Group increased their price target on The Hartford Financial Services Group from $105.00 to $111.00 and gave the company a “buy” rating in a research report on Thursday, June 13th. Bank of America cut their price objective on The Hartford Financial Services Group from $113.00 to $111.00 and set a “buy” rating on the stock in a research report on Thursday, July 11th. 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. Finally, Royal Bank of Canada boosted their price target 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. Nine equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, The Hartford Financial Services Group has a consensus rating of “Moderate Buy” and an average price target of $111.94.

Insider Buying and Selling at The Hartford Financial Services Group

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

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.