Mn Services Vermogensbeheer B.V. Has $11.88 Million Stock Position in The Hartford Financial Services Group, Inc. (NYSE:HIG)

Mn Services Vermogensbeheer B.V. lowered its stake in The Hartford Financial Services Group, Inc. (NYSE:HIG) by 2.8% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 118,200 shares of the insurance provider’s stock after selling 3,400 shares during the period. Mn Services Vermogensbeheer B.V.’s holdings in The Hartford Financial Services Group were worth $11,884,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. BNP Paribas Financial Markets increased its holdings in The Hartford Financial Services Group by 27.1% in the 1st quarter. BNP Paribas Financial Markets now owns 456,799 shares of the insurance provider’s stock valued at $47,073,000 after buying an additional 97,465 shares during the period. Banque Cantonale Vaudoise boosted its position in shares of The Hartford Financial Services Group by 378.8% during the 1st quarter. Banque Cantonale Vaudoise now owns 16,725 shares of the insurance provider’s stock worth $1,724,000 after acquiring an additional 13,232 shares in the last quarter. Sei Investments Co. increased its stake in The Hartford Financial Services Group by 5.6% in the first quarter. Sei Investments Co. now owns 229,305 shares of the insurance provider’s stock valued at $23,629,000 after acquiring an additional 12,067 shares during the last quarter. Stifel Financial Corp raised its position in The Hartford Financial Services Group by 14.2% during the fourth quarter. Stifel Financial Corp now owns 261,995 shares of the insurance provider’s stock valued at $21,059,000 after purchasing an additional 32,534 shares in the last quarter. Finally, SteelPeak Wealth LLC lifted its stake in The Hartford Financial Services Group by 65.5% during the first 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 last quarter. Institutional investors and hedge funds own 93.42% of the company’s stock.

Insider Activity

In related news, EVP Michael R. Fisher sold 4,088 shares of the firm’s 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 completion of the sale, the executive vice president now owns 14,818 shares of the company’s stock, valued at $1,503,582.46. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.60% of the stock is owned by company insiders.

Analyst Ratings Changes

HIG has been the topic of several recent analyst reports. Morgan Stanley decreased their price target on The Hartford Financial Services Group from $109.00 to $107.00 and set an “equal weight” rating on the stock in a research note on Wednesday, July 10th. Piper Sandler boosted their target price on The Hartford Financial Services Group from $112.00 to $125.00 and gave the stock an “overweight” rating in a research note on Monday, July 29th. JPMorgan Chase & Co. raised their price target on shares of The Hartford Financial Services Group from $104.00 to $116.00 and gave the company a “neutral” rating in a research note on Thursday, July 11th. Bank of America lowered their price objective on shares of The Hartford Financial Services Group from $113.00 to $111.00 and set a “buy” rating for the company in a research report on Thursday, July 11th. Finally, The Goldman Sachs Group raised their target price on shares of 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. Eight investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, The Hartford Financial Services Group presently has a consensus rating of “Moderate Buy” and an average target price of $110.88.

The Hartford Financial Services Group Trading Up 0.9 %

Shares of The Hartford Financial Services Group stock traded up $0.96 during midday trading on Friday, reaching $112.62. The company had a trading volume of 1,081,750 shares, compared to its average volume of 1,634,292. The firm has a market cap of $33.31 billion, a PE ratio of 12.80, a P/E/G ratio of 0.89 and a beta of 0.92. The stock has a fifty day moving average price of $104.91 and a 200 day moving average price of $100.78. 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 Hartford Financial Services Group, Inc. has a fifty-two week low of $68.82 and a fifty-two week high of $112.74.

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 (EPS) for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $6.49 billion for the quarter, compared to the consensus estimate of $6.02 billion. During the same quarter in the previous year, the company earned $1.88 EPS. The company’s revenue for the quarter was up 7.2% on a year-over-year basis. On average, equities analysts anticipate that The Hartford Financial Services Group, Inc. will post 10.07 earnings per share for the current year.

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

The Hartford Financial Services Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 2nd. Shareholders of record on Tuesday, September 3rd will be issued a dividend of $0.47 per share. The ex-dividend date of this dividend is Tuesday, September 3rd. This represents a $1.88 dividend on an annualized basis and a yield of 1.67%. The Hartford Financial Services Group’s 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.