Stanley Laman Group Ltd. Buys 2,362 Shares of The Hartford Financial Services Group, Inc. (NYSE:HIG)

Stanley Laman Group Ltd. grew its stake in shares of The Hartford Financial Services Group, Inc. (NYSE:HIG) by 8.0% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 31,734 shares of the insurance provider’s stock after acquiring an additional 2,362 shares during the quarter. Stanley Laman Group Ltd.’s holdings in The Hartford Financial Services Group were worth $3,191,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the stock. New Covenant Trust Company N.A. purchased a new position in The Hartford Financial Services Group in the first quarter worth about $26,000. Cape Investment Advisory Inc. raised its holdings in The Hartford Financial Services Group by 189.9% in the 4th quarter. Cape Investment Advisory Inc. now owns 374 shares of the insurance provider’s stock worth $30,000 after acquiring an additional 245 shares during the last quarter. Bank & Trust Co bought a new position in The Hartford Financial Services Group in the 2nd quarter valued at approximately $30,000. First United Bank & Trust purchased a new stake in The Hartford Financial Services Group during the 4th quarter valued at $31,000. Finally, Benjamin Edwards Inc. bought a new stake in shares of The Hartford Financial Services Group in the 1st quarter worth $35,000. Hedge funds and other institutional investors own 93.42% of the company’s stock.

The Hartford Financial Services Group Price Performance

Shares of The Hartford Financial Services Group stock traded up $0.33 during trading hours on Friday, hitting $110.46. The company’s stock had a trading volume of 1,510,723 shares, compared to its average volume of 1,654,159. 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, Inc. has a 12-month low of $68.82 and a 12-month high of $112.65. The business has a 50 day moving average price of $103.74 and a two-hundred day moving average price of $99.91. The company has a market cap of $32.67 billion, a PE ratio of 12.55, a PEG ratio of 0.89 and a beta of 0.92.

The Hartford Financial Services Group (NYSE:HIG) last posted its quarterly earnings results on Thursday, July 25th. The insurance provider reported $2.50 EPS for the quarter, topping analysts’ consensus estimates of $2.24 by $0.26. The company had revenue of $6.49 billion for the quarter, compared to analysts’ expectations 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 revenue was up 7.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.88 EPS. Analysts expect that The Hartford Financial Services Group, Inc. will post 10.07 earnings per share for the current fiscal year.

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

The Hartford Financial Services Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 2nd. Investors of record on Tuesday, September 3rd will be paid a dividend of $0.47 per share. The ex-dividend date is Tuesday, September 3rd. This represents a $1.88 annualized dividend and a yield of 1.70%. The Hartford Financial Services Group’s payout ratio is 21.36%.

Insider Buying and Selling at The Hartford Financial Services Group

In related news, EVP Michael R. Fisher sold 4,088 shares of the business’s stock in a transaction dated Monday, July 1st. The stock was 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 in the company, valued at $1,503,582.46. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 1.60% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on HIG. Argus raised The Hartford Financial Services Group to a “strong-buy” rating in a report on Friday, August 2nd. Roth Mkm raised their price target on shares of The Hartford Financial Services Group from $90.00 to $95.00 and gave the company a “neutral” rating in a report on Friday, April 26th. Citigroup lowered shares of The Hartford Financial Services Group from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $116.00 to $114.00 in a research note on Friday, June 28th. Keefe, Bruyette & Woods increased 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. Finally, Royal Bank of Canada lifted their target price 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 report on Monday, July 29th. Eight research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, The Hartford Financial Services Group presently has an average rating of “Moderate Buy” and a consensus price target of $110.88.

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.