Consolidated Portfolio Review Corp Invests $220,000 in The Hartford Financial Services Group, Inc. (NYSE:HIG)

Consolidated Portfolio Review Corp acquired a new stake in shares of The Hartford Financial Services Group, Inc. (NYSE:HIG) during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 1,874 shares of the insurance provider’s stock, valued at approximately $220,000.

Other institutional investors have also bought and sold shares of the company. Dimensional Fund Advisors LP raised its position in shares of The Hartford Financial Services Group by 1.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 5,809,358 shares of the insurance provider’s stock worth $584,177,000 after buying an additional 69,007 shares in the last quarter. Nordea Investment Management AB raised its holdings in 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 worth $328,320,000 after purchasing an additional 233,742 shares in the last quarter. AQR Capital Management LLC lifted its position in The Hartford Financial Services Group by 4.9% in the second quarter. AQR Capital Management LLC now owns 1,497,960 shares of the insurance provider’s stock worth $150,605,000 after purchasing an additional 70,018 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its stake in The Hartford Financial Services Group by 2.4% during the 2nd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 1,367,400 shares of the insurance provider’s stock valued at $137,478,000 after purchasing an additional 31,806 shares in the last quarter. Finally, Bahl & Gaynor Inc. increased its position in shares of The Hartford Financial Services Group by 3.4% during the 2nd quarter. Bahl & Gaynor Inc. now owns 1,229,133 shares of the insurance provider’s stock valued at $123,577,000 after purchasing an additional 40,400 shares during the period. Institutional investors and hedge funds own 93.42% of the company’s stock.

The Hartford Financial Services Group Stock Performance

Shares of HIG stock opened at $112.26 on Friday. The company has a market capitalization of $33.20 billion, a price-to-earnings ratio of 12.76, a P/E/G ratio of 0.99 and a beta of 0.93. 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 current ratio of 0.32, a quick ratio of 0.32 and a debt-to-equity ratio of 0.28. The stock’s fifty day simple moving average is $116.31 and its 200-day simple moving average is $106.93.

The Hartford Financial Services Group (NYSE:HIG) last released its earnings results on Thursday, October 24th. The insurance provider reported $2.53 earnings per share for the quarter, beating the consensus estimate of $2.49 by $0.04. The company had revenue of $4.67 billion for the quarter, compared to analysts’ expectations of $4.62 billion. The Hartford Financial Services Group had a return on equity of 21.20% and a net margin of 11.44%. On average, sell-side analysts predict that The Hartford Financial Services Group, Inc. will post 10.02 earnings per share for the current fiscal year.

The Hartford Financial Services Group announced that its Board of Directors has initiated a share repurchase plan on Thursday, July 25th that authorizes the company to buyback $3.30 billion in shares. This buyback authorization authorizes the insurance provider to buy up to 10.9% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s leadership believes its stock is undervalued.

The Hartford Financial Services Group Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 3rd. Investors of record on Monday, December 2nd will be given a dividend of $0.52 per share. The ex-dividend date is Monday, December 2nd. This is an increase from The Hartford Financial Services Group’s previous quarterly dividend of $0.47. This represents a $2.08 dividend on an annualized basis and a yield of 1.85%. The Hartford Financial Services Group’s payout ratio is presently 23.64%.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on HIG. Royal Bank of Canada raised their target price on The Hartford Financial Services Group from $105.00 to $115.00 and gave the company a “sector perform” rating in a research note on Monday, July 29th. JPMorgan Chase & Co. raised their price objective on shares of The Hartford Financial Services Group from $122.00 to $125.00 and gave the company a “neutral” rating in a research report on Friday. Barclays began coverage on shares of The Hartford Financial Services Group in a report on Wednesday, September 4th. They issued an “equal weight” rating and a $130.00 target price on the stock. Piper Sandler raised their target price on shares of The Hartford Financial Services Group from $112.00 to $125.00 and gave the stock an “overweight” rating in a report on Monday, July 29th. Finally, UBS Group upped their price target on The Hartford Financial Services Group from $134.00 to $135.00 and gave the company a “buy” rating in a report on Tuesday, October 15th. Ten equities research 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 company presently has a consensus rating of “Moderate Buy” and a consensus target price of $120.76.

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.