Sustainable Insight Capital Management LLC Purchases 6,100 Shares of The Hartford Financial Services Group, Inc. (NYSE:HIG)

Sustainable Insight Capital Management LLC raised its position in The Hartford Financial Services Group, Inc. (NYSE:HIG) by 21.8% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 34,100 shares of the insurance provider’s stock after purchasing an additional 6,100 shares during the period. The Hartford Financial Services Group makes up about 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 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Norges Bank bought a new stake in shares of The Hartford Financial Services Group in the fourth quarter worth $278,704,000. Hotchkis & Wiley Capital Management LLC increased its position in The Hartford Financial Services Group by 26.2% during 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 buying an additional 1,272,290 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its stake in The Hartford Financial Services Group by 72.0% in the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 1,335,594 shares of the insurance provider’s stock valued at $137,633,000 after buying an additional 559,019 shares during the period. Swedbank AB bought a new position in shares of The Hartford Financial Services Group during the 1st quarter worth approximately $53,980,000. Finally, KBC Group NV increased its holdings in shares of The Hartford Financial Services Group by 85.5% during the 4th quarter. KBC Group NV now owns 1,074,470 shares of the insurance provider’s stock worth $86,366,000 after acquiring an additional 495,192 shares during the last quarter. 93.42% of the stock is currently owned by institutional investors and hedge funds.

The Hartford Financial Services Group Stock Performance

NYSE:HIG opened at $114.49 on Friday. The company has a market capitalization of $33.86 billion, a PE ratio of 13.01, a P/E/G ratio of 0.93 and a beta of 0.93. 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 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 50 day simple moving average of $107.40 and a two-hundred day simple moving average of $102.36.

The Hartford Financial Services Group (NYSE:HIG) last announced its quarterly earnings data on Thursday, July 25th. The insurance provider reported $2.50 earnings per share (EPS) for the quarter, beating 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 company had revenue of $6.49 billion for the quarter, compared to the consensus estimate of $6.02 billion. During the same period in the previous year, the business earned $1.88 EPS. The firm’s revenue was up 7.2% compared to the same quarter last year. Research analysts anticipate that The Hartford Financial Services Group, Inc. will post 10.09 earnings per share for the current year.

The Hartford Financial Services Group announced that its board has approved a stock buyback plan 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 plans are usually an indication that the company’s leadership believes its stock is undervalued.

The Hartford Financial Services Group Dividend Announcement

The business 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 $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 payout ratio is 21.36%.

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 dated Monday, July 1st. The stock was sold at an average price of $101.47, for a total value of $414,809.36. Following the completion of the sale, the executive vice president now directly owns 14,818 shares in the company, valued at approximately $1,503,582.46. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 1.60% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. Barclays assumed coverage on shares of The Hartford Financial Services Group in a research report on Wednesday. They issued an “equal weight” rating and a $130.00 price objective on the stock. Bank of America reduced their price target on The Hartford Financial Services Group from $113.00 to $111.00 and set a “buy” rating for the company in a research note on Thursday, July 11th. Keefe, Bruyette & Woods lifted their target price on 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. Piper Sandler upped their price target on shares of The Hartford Financial Services Group from $112.00 to $125.00 and gave the company an “overweight” rating in a research note on Monday, July 29th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of The Hartford Financial Services Group from $104.00 to $116.00 and gave the company a “neutral” rating in a report on Thursday, July 11th. 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 company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $111.94.

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.