Impact Partnership Wealth LLC Buys New Shares in The Hartford Financial Services Group, Inc. (NYSE:HIG)

Impact Partnership Wealth LLC purchased a new position in The Hartford Financial Services Group, Inc. (NYSE:HIG) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 4,092 shares of the insurance provider’s stock, valued at approximately $481,000.

Several other institutional investors have also added to or reduced their stakes in HIG. International Assets Investment Management LLC raised its holdings in The Hartford Financial Services Group by 31,680.4% during the 3rd quarter. International Assets Investment Management LLC now owns 694,084 shares of the insurance provider’s stock valued at $816,310,000 after buying an additional 691,900 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its holdings in The Hartford Financial Services Group by 72.0% in the 1st quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 1,335,594 shares of the insurance provider’s stock worth $137,633,000 after buying an additional 559,019 shares during the period. Swedbank AB bought a new stake in shares of The Hartford Financial Services Group in the 1st quarter worth approximately $53,980,000. Healthcare of Ontario Pension Plan Trust Fund increased its stake in shares of The Hartford Financial Services Group by 301.2% during the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 333,000 shares of the insurance provider’s stock valued at $34,316,000 after buying an additional 250,000 shares during the period. Finally, Nordea Investment Management AB raised its holdings in shares of The Hartford Financial Services Group by 7.9% during the first quarter. Nordea Investment Management AB now owns 3,191,914 shares of the insurance provider’s stock valued at $328,320,000 after acquiring an additional 233,742 shares in the last quarter. 93.42% of the stock is currently owned by hedge funds and other institutional investors.

The Hartford Financial Services Group Stock Up 0.4 %

The Hartford Financial Services Group stock traded up $0.43 during mid-day trading on Thursday, reaching $120.28. The stock had a trading volume of 68,814 shares, compared to its average volume of 1,587,348. The Hartford Financial Services Group, Inc. has a one year low of $68.92 and a one year high of $123.23. The company has a 50-day moving average price of $116.06 and a two-hundred day moving average price of $106.71. The company has a market capitalization of $35.57 billion, a price-to-earnings ratio of 13.62, a PEG ratio of 0.96 and a beta of 0.93. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.32 and a quick ratio of 0.32.

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 the consensus estimate of $2.24 by $0.26. The firm had revenue of $6.49 billion for the quarter, compared to the consensus estimate 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 business’s revenue was up 7.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.88 earnings per share. On average, analysts expect that The Hartford Financial Services Group, Inc. will post 10.09 EPS for the current fiscal year.

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

Wall Street Analyst Weigh In

HIG has been the topic of a number of research analyst reports. Keefe, Bruyette & Woods boosted 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. Argus raised shares of The Hartford Financial Services Group to a “strong-buy” rating in a research note on Friday, August 2nd. Jefferies Financial Group lifted their price objective on The Hartford Financial Services Group from $113.00 to $127.00 and gave the company a “hold” rating in a research report on Wednesday, October 9th. JPMorgan Chase & Co. increased their target price on The Hartford Financial Services Group from $117.00 to $122.00 and gave the stock a “neutral” rating in a research report on Thursday, October 10th. Finally, UBS Group lifted their price target on The Hartford Financial Services Group from $134.00 to $135.00 and gave the company a “buy” rating in a research report on Tuesday, October 15th. 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 company’s stock. Based on data from MarketBeat, The Hartford Financial Services Group currently has a consensus rating of “Moderate Buy” and an average target price 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.