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

My Legacy Advisors LLC decreased its holdings in shares of The Hartford Financial Services Group, Inc. (NYSE:HIG) by 7.6% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 7,812 shares of the insurance provider’s stock after selling 644 shares during the quarter. My Legacy Advisors LLC’s holdings in The Hartford Financial Services Group were worth $919,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in HIG. New Covenant Trust Company N.A. acquired a new position in shares of The Hartford Financial Services Group in the 1st quarter worth approximately $26,000. Quest Partners LLC grew its holdings in shares of The Hartford Financial Services Group by 2,750.0% in the 2nd quarter. Quest Partners LLC now owns 285 shares of the insurance provider’s stock worth $29,000 after acquiring an additional 275 shares during the last quarter. Bank & Trust Co acquired a new stake in shares of The Hartford Financial Services Group during the second quarter worth $30,000. Family Firm Inc. purchased a new stake in shares of The Hartford Financial Services Group during the second quarter valued at $31,000. Finally, Clean Yield Group acquired a new position in shares of The Hartford Financial Services Group in the 3rd quarter valued at $33,000. Institutional investors own 93.42% of the company’s stock.

The Hartford Financial Services Group Trading Down 0.9 %

NYSE:HIG traded down $1.07 during mid-day trading on Tuesday, hitting $119.86. The company had a trading volume of 445,281 shares, compared to its average volume of 1,592,613. The firm has a market cap of $35.45 billion, a P/E ratio of 13.74, a P/E/G ratio of 0.96 and a beta of 0.93. The Hartford Financial Services Group, Inc. has a fifty-two week low of $68.92 and a fifty-two week high of $123.23. The business’s fifty day moving average is $115.62 and its two-hundred day moving average is $106.50. 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 Hartford Financial Services Group (NYSE:HIG) last released its quarterly earnings data on Thursday, July 25th. The insurance provider reported $2.50 earnings per share for the quarter, topping the consensus estimate of $2.24 by $0.26. The business had revenue of $6.49 billion for 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 21.20%. The Hartford Financial Services Group’s quarterly revenue was up 7.2% compared to the same quarter last year. During the same quarter last year, the firm earned $1.88 EPS. As a group, research analysts expect that The Hartford Financial Services Group, Inc. will post 10.09 earnings per share for the current year.

The Hartford Financial Services Group declared that its board has authorized a stock buyback program on Thursday, July 25th that allows the company to buyback $3.30 billion in outstanding shares. This buyback authorization allows the insurance provider to purchase up to 10.9% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s management believes its stock is undervalued.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. Morgan Stanley reduced their price objective on shares of The Hartford Financial Services Group from $109.00 to $107.00 and set an “equal weight” rating for the company in a research note on Wednesday, July 10th. JPMorgan Chase & Co. raised their price objective on shares of The Hartford Financial Services Group from $117.00 to $122.00 and gave the stock a “neutral” rating in a research note on Thursday, October 10th. Bank of America boosted their target price 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. Piper Sandler lifted their price target on The Hartford Financial Services Group from $112.00 to $125.00 and gave the company an “overweight” rating in a report on Monday, July 29th. Finally, Argus upgraded shares of The Hartford Financial Services Group to a “strong-buy” rating in a report on Friday, August 2nd. Ten investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $120.59.

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.