The Hartford Financial Services Group, Inc. (NYSE:HIG) Shares Sold by Monte Financial Group LLC

Monte Financial Group LLC lowered its holdings in The Hartford Financial Services Group, Inc. (NYSE:HIG) by 11.8% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 45,308 shares of the insurance provider’s stock after selling 6,038 shares during the quarter. The Hartford Financial Services Group accounts for 2.2% of Monte Financial Group LLC’s holdings, making the stock its 25th largest holding. Monte Financial Group LLC’s holdings in The Hartford Financial Services Group were worth $5,329,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Greenleaf Trust increased its position 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 valued at $2,629,000 after acquiring an additional 168 shares during the last quarter. Lecap Asset Management Ltd. acquired a new stake in The Hartford Financial Services Group in the 3rd quarter valued at approximately $633,000. Maryland Capital Advisors Inc. purchased a new stake in The Hartford Financial Services Group in the third quarter valued at approximately $58,000. Private Advisor Group LLC lifted its stake in 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 purchasing an additional 3,618 shares in the last quarter. Finally, Stanley Laman Group Ltd. boosted its position in shares of The Hartford Financial Services Group by 3.8% during the third quarter. Stanley Laman Group Ltd. now owns 32,955 shares of the insurance provider’s stock worth $3,876,000 after buying an additional 1,221 shares during the period. Institutional investors and hedge funds own 93.42% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently issued reports on HIG shares. Morgan Stanley cut their price objective 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. Royal Bank of Canada boosted their price target on shares of The Hartford Financial Services Group from $105.00 to $115.00 and gave the stock a “sector perform” rating in a research note on Monday, July 29th. Bank of America raised their price objective on shares of The Hartford Financial Services Group from $121.00 to $124.00 and gave the company a “neutral” rating in a research note on Thursday, October 10th. Barclays assumed coverage on shares of The Hartford Financial Services Group in a research note on Wednesday, September 4th. They set an “equal weight” rating and a $130.00 target price on the stock. Finally, UBS Group raised their price target on shares of 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 research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $120.59.

The Hartford Financial Services Group Trading Down 0.2 %

NYSE:HIG 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 stock has a market cap of $35.45 billion, a P/E ratio of 13.62, a P/E/G ratio of 0.96 and a beta of 0.93. 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 has a 50-day simple moving average of $116.06 and a 200-day simple moving average of $106.71.

The Hartford Financial Services Group (NYSE:HIG) last announced its quarterly 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 firm had revenue of $6.49 billion during the quarter, compared to the consensus estimate of $6.02 billion. The Hartford Financial Services Group had a return on equity of 21.20% and a net margin of 11.44%. The firm’s quarterly revenue was up 7.2% compared to the same quarter last year. During the same period in the prior year, the company posted $1.88 earnings per share. As a group, analysts anticipate 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 approved a share buyback program on Thursday, July 25th that permits the company to buyback $3.30 billion in outstanding shares. This buyback authorization permits the insurance provider to reacquire up to 10.9% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board believes its shares are undervalued.

About The Hartford Financial Services Group

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.