The Hartford Financial Services Group, Inc. (NYSE:HIG) Shares Acquired by Toronto Dominion Bank

Toronto Dominion Bank increased its position in The Hartford Financial Services Group, Inc. (NYSE:HIG) by 1.0% in the 1st quarter, HoldingsChannel reports. The institutional investor owned 176,467 shares of the insurance provider’s stock after acquiring an additional 1,819 shares during the period. Toronto Dominion Bank’s holdings in The Hartford Financial Services Group were worth $18,185,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. Hotchkis & Wiley Capital Management LLC lifted its holdings 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 valued at $491,915,000 after buying an additional 1,272,290 shares during the period. Victory Capital Management Inc. lifted its holdings in shares of The Hartford Financial Services Group by 2.1% during 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 purchasing an additional 105,799 shares during the last quarter. LSV Asset Management lifted its holdings in shares of The Hartford Financial Services Group by 3.5% during the fourth quarter. LSV Asset Management now owns 4,821,885 shares of the insurance provider’s stock valued at $387,583,000 after purchasing an additional 165,190 shares during the last quarter. Norges Bank purchased a new stake in shares of The Hartford Financial Services Group during the fourth quarter valued at $278,704,000. Finally, Northern Trust Corp increased its position in The Hartford Financial Services Group by 0.5% in the 4th quarter. Northern Trust Corp now owns 3,381,943 shares of the insurance provider’s stock worth $271,841,000 after purchasing an additional 18,419 shares during the last quarter. Institutional investors and hedge funds own 93.42% of the company’s stock.

The Hartford Financial Services Group Stock Performance

Shares of HIG stock traded up $7.30 during mid-day trading on Friday, reaching $109.63. The stock had a trading volume of 2,870,720 shares, compared to its average volume of 1,418,687. The firm’s 50 day simple moving average is $101.55 and its 200 day simple moving average is $97.38. The company has a quick ratio of 0.31, a current ratio of 0.31 and a debt-to-equity ratio of 0.29. The Hartford Financial Services Group, Inc. has a one year low of $68.82 and a one year high of $109.68. The firm has a market cap of $32.42 billion, a PE ratio of 12.46, a P/E/G ratio of 0.85 and a beta of 0.93.

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 21.52% and a net margin of 11.44%. The company had revenue of $6.49 billion during the quarter, compared to the consensus estimate of $6.02 billion. During the same quarter last year, the company earned $1.88 EPS. The company’s quarterly revenue was up 7.2% on a year-over-year basis. On average, analysts forecast that The Hartford Financial Services Group, Inc. will post 9.83 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 buyback $3.30 billion in outstanding shares. This buyback authorization allows the insurance provider to repurchase up to 10.9% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s management believes its stock is undervalued.

The Hartford Financial Services Group Dividend Announcement

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 given a dividend of $0.47 per share. The ex-dividend date is Tuesday, September 3rd. This represents a $1.88 annualized dividend and a dividend yield of 1.71%. The Hartford Financial Services Group’s dividend payout ratio (DPR) is presently 21.36%.

Insider Buying and Selling

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 transaction, 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 Securities & Exchange Commission, which is available through this link. In other The Hartford Financial Services Group news, CFO Beth Ann Costello sold 72,076 shares of the stock in a transaction dated Wednesday, May 8th. The shares were sold at an average price of $99.71, for a total transaction of $7,186,697.96. Following the sale, the chief financial officer now owns 69,169 shares of the company’s stock, valued at approximately $6,896,840.99. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Michael R. Fisher sold 4,088 shares of the stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $101.47, for a total transaction of $414,809.36. Following the sale, 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. Insiders sold 94,499 shares of company stock worth $9,449,309 in the last 90 days. 1.60% of the stock is owned by company insiders.

Analysts Set New Price Targets

HIG has been the topic of several research reports. Citigroup lowered The Hartford Financial Services Group from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $116.00 to $114.00 in a research report on Friday, June 28th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $105.00 target price on shares of The Hartford Financial Services Group in a research report on Friday, June 28th. Roth Mkm increased their price objective on The Hartford Financial Services Group from $90.00 to $95.00 and gave the company a “neutral” rating in a report on Friday, April 26th. Evercore ISI increased their price objective on The Hartford Financial Services Group from $96.00 to $104.00 and gave the company an “in-line” rating in a report on Thursday, April 11th. Finally, The Goldman Sachs Group increased their price objective on The Hartford Financial Services Group from $105.00 to $111.00 and gave the company a “buy” rating in a report on Thursday, June 13th. Eight investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $107.50.

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.