The Hartford Financial Services Group, Inc. (NYSE:HIG) Shares Acquired by Livforsakringsbolaget Skandia Omsesidigt

Livforsakringsbolaget Skandia Omsesidigt increased its holdings in shares of The Hartford Financial Services Group, Inc. (NYSE:HIG) by 34.7% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 111,065 shares of the insurance provider’s stock after purchasing an additional 28,626 shares during the quarter. The Hartford Financial Services Group accounts for about 0.7% of Livforsakringsbolaget Skandia Omsesidigt’s investment portfolio, making the stock its 28th largest holding. Livforsakringsbolaget Skandia Omsesidigt’s holdings in The Hartford Financial Services Group were worth $13,095,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of HIG. New Covenant Trust Company N.A. acquired a new position in shares of The Hartford Financial Services Group during the first quarter worth about $26,000. Clean Yield Group purchased a new stake in shares of The Hartford Financial Services Group during the 3rd quarter valued at about $33,000. Quest Partners LLC lifted its position in The Hartford Financial Services Group by 2,750.0% during the 2nd quarter. Quest Partners LLC now owns 285 shares of the insurance provider’s stock worth $29,000 after acquiring an additional 275 shares in the last quarter. Bank & Trust Co purchased a new position in The Hartford Financial Services Group in the 2nd quarter worth approximately $30,000. Finally, Family Firm Inc. acquired a new stake in The Hartford Financial Services Group in the second quarter valued at approximately $31,000. Hedge funds and other institutional investors own 93.42% of the company’s stock.

The Hartford Financial Services Group Trading Up 0.9 %

The Hartford Financial Services Group stock opened at $117.36 on Friday. The Hartford Financial Services Group, Inc. has a 1 year low of $68.92 and a 1 year high of $119.06. The firm’s 50-day moving average is $113.93 and its 200-day moving average is $105.68. 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 company has a market cap of $34.71 billion, a P/E ratio of 13.34, a PEG ratio of 0.96 and a beta of 0.93.

The Hartford Financial Services Group (NYSE:HIG) last issued its 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 firm had revenue of $6.49 billion for the quarter, compared to analysts’ expectations of $6.02 billion. The Hartford Financial Services Group had a net margin of 11.44% and a return on equity of 21.20%. The Hartford Financial Services Group’s revenue was up 7.2% on a year-over-year basis. During the same quarter last year, the company posted $1.88 earnings per share. On average, equities analysts expect that The Hartford Financial Services Group, Inc. will post 10.09 earnings per share for the current year.

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

The Hartford Financial Services Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, October 2nd. Shareholders of record on Tuesday, September 3rd were given a $0.47 dividend. This represents a $1.88 annualized dividend and a yield of 1.60%. The ex-dividend date was Tuesday, September 3rd. The Hartford Financial Services Group’s dividend payout ratio is presently 21.36%.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on HIG shares. Barclays started coverage on shares of The Hartford Financial Services Group in a research report on Wednesday, September 4th. They set an “equal weight” rating and a $130.00 target price on the stock. Keefe, Bruyette & Woods upped their price objective on shares of The Hartford Financial Services Group from $120.00 to $133.00 and gave the company an “outperform” rating in a research report on Thursday, August 1st. Piper Sandler lifted 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 report on Monday, July 29th. Royal Bank of Canada increased their price target on The Hartford Financial Services Group from $105.00 to $115.00 and gave the company a “sector perform” rating in a report on Monday, July 29th. Finally, Wells Fargo & Company lifted their price objective on The Hartford Financial Services Group from $122.00 to $134.00 and gave the stock an “overweight” rating in a report on Tuesday, September 17th. Ten analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $118.94.

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.