Epoch Investment Partners Inc. Sells 170 Shares of The Hartford Financial Services Group, Inc. (NYSE:HIG)

Epoch Investment Partners Inc. lessened its stake in shares of The Hartford Financial Services Group, Inc. (NYSE:HIG) by 5.1% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 3,164 shares of the insurance provider’s stock after selling 170 shares during the period. Epoch Investment Partners Inc.’s holdings in The Hartford Financial Services Group were worth $326,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of HIG. CVA Family Office LLC acquired a new position in shares of The Hartford Financial Services Group during the 4th quarter valued at $27,000. Pacer Advisors Inc. lifted its position in shares of The Hartford Financial Services Group by 2.0% during the 4th quarter. Pacer Advisors Inc. now owns 20,443 shares of the insurance provider’s stock valued at $1,643,000 after acquiring an additional 403 shares during the period. Blue Trust Inc. lifted its position in shares of The Hartford Financial Services Group by 15.9% during the 4th quarter. Blue Trust Inc. now owns 2,255 shares of the insurance provider’s stock valued at $181,000 after acquiring an additional 310 shares during the period. Caprock Group LLC lifted its position in shares of The Hartford Financial Services Group by 8.0% during the 4th quarter. Caprock Group LLC now owns 4,434 shares of the insurance provider’s stock valued at $358,000 after acquiring an additional 328 shares during the period. Finally, Chilton Capital Management LLC acquired a new position in shares of The Hartford Financial Services Group during the 4th quarter valued at $28,000. Institutional investors and hedge funds own 93.42% of the company’s stock.

Insiders Place Their Bets

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 completion of the transaction, the chief financial officer now owns 69,169 shares in the company, valued at $6,896,840.99. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, EVP Michael R. Fisher sold 4,088 shares of the stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $101.47, for a total value of $414,809.36. Following the sale, the executive vice president now directly owns 14,818 shares of the company’s stock, valued at $1,503,582.46. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Beth Ann Costello sold 72,076 shares of the stock in a transaction dated Wednesday, May 8th. The stock was sold at an average price of $99.71, for a total transaction of $7,186,697.96. Following the completion of the sale, the chief financial officer now directly owns 69,169 shares in the company, valued at $6,896,840.99. The disclosure for this sale can be found here. Insiders sold 94,499 shares of company stock worth $9,449,309 over the last quarter. 1.60% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

HIG has been the topic of a number of research reports. Morgan Stanley dropped their target price on shares of The Hartford Financial Services Group from $109.00 to $107.00 and set an “equal weight” rating on the stock in a research report on Wednesday, July 10th. Keefe, Bruyette & Woods upped their price objective on shares of The Hartford Financial Services Group from $114.00 to $120.00 and gave the stock an “outperform” rating in a report on Wednesday, April 10th. Piper Sandler restated an “overweight” rating and set a $115.00 price objective on shares of The Hartford Financial Services Group in a report on Monday, April 1st. Roth Mkm upped their price objective on shares of The Hartford Financial Services Group from $90.00 to $95.00 and gave the stock a “neutral” rating in a report on Friday, April 26th. Finally, Wells Fargo & Company lowered their price objective on shares of The Hartford Financial Services Group from $117.00 to $111.00 and set an “overweight” rating on the stock in a report on Monday, April 29th. Eight analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $107.50.

The Hartford Financial Services Group Stock Performance

HIG traded up $7.30 during trading on Friday, hitting $109.63. 2,870,720 shares of the company traded hands, compared to its average volume of 1,418,687. The firm has a market cap of $32.42 billion, a P/E ratio of 12.46, a price-to-earnings-growth ratio of 0.91 and a beta of 0.93. The stock’s fifty day moving average is $101.55 and its 200 day moving average is $97.49. 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 Hartford Financial Services Group (NYSE:HIG) last posted its quarterly earnings results on Thursday, July 25th. The insurance provider reported $2.50 earnings per share for the quarter, beating the consensus estimate of $2.24 by $0.26. The company had revenue of $6.49 billion during the quarter, compared to analyst estimates of $6.02 billion. The Hartford Financial Services Group had a net margin of 11.44% and a return on equity of 21.52%. The firm’s revenue for the quarter was up 7.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.88 earnings per share. As a group, equities analysts predict that The Hartford Financial Services Group, Inc. will post 9.86 EPS for the current fiscal year.

The Hartford Financial Services Group announced that its Board of Directors has initiated a share repurchase program on Thursday, July 25th that permits the company to repurchase $3.30 billion in outstanding shares. This repurchase authorization permits the insurance provider to purchase up to 10.9% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s management believes its stock is undervalued.

The Hartford Financial Services Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 2nd. Shareholders of record on Tuesday, September 3rd will be given 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 1.71%. The Hartford Financial Services Group’s dividend payout ratio is presently 21.36%.

The Hartford Financial Services Group 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.