The Hartford Financial Services Group, Inc. (NYSE:HIG) Shares Acquired by International Assets Investment Management LLC

International Assets Investment Management LLC lifted its position in shares of The Hartford Financial Services Group, Inc. (NYSE:HIG) by 31,680.4% during the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 694,084 shares of the insurance provider’s stock after purchasing an additional 691,900 shares during the period. International Assets Investment Management LLC owned about 0.23% of The Hartford Financial Services Group worth $816,310,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Axecap Investments LLC acquired a new stake in shares of The Hartford Financial Services Group during the third quarter worth about $1,148,000. Greenleaf Trust grew its holdings in shares of The Hartford Financial Services Group by 0.8% during the third quarter. Greenleaf Trust now owns 22,352 shares of the insurance provider’s stock worth $2,629,000 after buying an additional 168 shares during the last quarter. Lecap Asset Management Ltd. purchased a new position in shares of The Hartford Financial Services Group during the third quarter worth about $633,000. Maryland Capital Advisors Inc. purchased a new position in shares of The Hartford Financial Services Group during the third quarter worth about $58,000. Finally, Private Advisor Group LLC grew its holdings in shares of The Hartford Financial Services Group by 23.9% during the third quarter. Private Advisor Group LLC now owns 18,725 shares of the insurance provider’s stock worth $2,202,000 after buying an additional 3,618 shares during the last quarter. Institutional investors and hedge funds own 93.42% of the company’s stock.

The Hartford Financial Services Group Price Performance

HIG stock opened at $119.85 on Thursday. The Hartford Financial Services Group, Inc. has a 1 year low of $68.92 and a 1 year high of $123.23. 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 stock’s 50 day moving average price is $116.06 and its 200 day moving average price is $106.71. The firm has a market cap of $35.45 billion, a P/E ratio of 13.62, a PEG ratio of 0.96 and a beta of 0.93.

The Hartford Financial Services Group (NYSE:HIG) last posted its earnings results 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 firm had revenue of $6.49 billion for the quarter, compared to analyst estimates of $6.02 billion. During the same quarter in the prior year, the company earned $1.88 EPS. The Hartford Financial Services Group’s revenue was up 7.2% on a year-over-year basis. On average, sell-side analysts expect that The Hartford Financial Services Group, Inc. will post 10.09 earnings per share for the current fiscal year.

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

Analysts Set New Price Targets

A number of equities analysts recently issued reports on HIG shares. Citigroup lowered The Hartford Financial Services Group from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $116.00 to $114.00 in a report on Friday, June 28th. Argus raised The Hartford Financial Services Group to a “strong-buy” rating in a report on Friday, August 2nd. Morgan Stanley lowered 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 report on Wednesday, July 10th. JPMorgan Chase & Co. raised their price target on The Hartford Financial Services Group from $117.00 to $122.00 and gave the stock a “neutral” rating in a report on Thursday, October 10th. Finally, Jefferies Financial Group raised their price target on The Hartford Financial Services Group from $113.00 to $127.00 and gave the stock a “hold” rating in a report on Wednesday, October 9th. Ten investment 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 stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $120.59.

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.