1,709 Shares in The Hartford Financial Services Group, Inc. (NYSE:HIG) Bought by Heritage Oak Wealth Advisors LLC

by · The Markets Daily

Heritage Oak Wealth Advisors LLC acquired a new position in The Hartford Financial Services Group, Inc. (NYSE:HIG – Free Report) during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund acquired 1,709 shares of the insurance provider’s stock, valued at approximately $201,000.

Several other large investors have also recently modified their holdings of HIG. Concurrent Investment Advisors LLC bought a new stake in The Hartford Financial Services Group in the second quarter valued at $213,000. BNP Paribas Financial Markets boosted its holdings in shares of The Hartford Financial Services Group by 27.1% during the 1st quarter. BNP Paribas Financial Markets now owns 456,799 shares of the insurance provider’s stock valued at $47,073,000 after buying an additional 97,465 shares in the last quarter. Sei Investments Co. boosted its holdings in shares of The Hartford Financial Services Group by 5.6% during the 1st quarter. Sei Investments Co. now owns 229,305 shares of the insurance provider’s stock valued at $23,629,000 after buying an additional 12,067 shares in the last quarter. Skandinaviska Enskilda Banken AB publ boosted its holdings in shares of The Hartford Financial Services Group by 27.6% during the 2nd quarter. Skandinaviska Enskilda Banken AB publ now owns 221,896 shares of the insurance provider’s stock valued at $22,309,000 after buying an additional 48,004 shares in the last quarter. Finally, SteelPeak Wealth LLC boosted its holdings in shares of The Hartford Financial Services Group by 65.5% during the 1st quarter. SteelPeak Wealth LLC now owns 34,626 shares of the insurance provider’s stock valued at $3,584,000 after buying an additional 13,710 shares in the last quarter. Hedge funds and other institutional investors own 93.42% of the company’s stock.

The Hartford Financial Services Group Trading Down 6.8 %

HIG stock opened at $112.26 on Friday. 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 debt-to-equity ratio of 0.28, a current ratio of 0.32 and a quick ratio of 0.32. The company has a market capitalization of $32.89 billion, a price-to-earnings ratio of 11.80, a PEG ratio of 0.99 and a beta of 0.93. The business has a 50 day simple moving average of $116.27 and a two-hundred day simple moving average of $106.81.

The Hartford Financial Services Group (NYSE:HIG – Get Free Report) last posted its earnings results on Thursday, October 24th. The insurance provider reported $2.53 EPS for the quarter, beating analysts’ consensus estimates of $2.49 by $0.04. The firm had revenue of $4.67 billion during the quarter, compared to the consensus estimate of $4.62 billion. The Hartford Financial Services Group had a return on equity of 21.20% and a net margin of 11.44%. Research analysts anticipate that The Hartford Financial Services Group, Inc. will post 10.02 EPS for the current fiscal year.

The Hartford Financial Services Group announced that its board has authorized a stock buyback plan on Thursday, July 25th that authorizes the company to buyback $3.30 billion in outstanding shares. This buyback authorization authorizes the insurance provider to reacquire up to 10.9% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board believes its stock is undervalued.

Analysts Set New Price Targets

A number of brokerages recently issued reports on HIG. Keefe, Bruyette & Woods upped their price target on shares of The Hartford Financial Services Group from $120.00 to $133.00 and gave the stock an “outperform” rating in a research note on Thursday, August 1st. Argus upgraded shares of The Hartford Financial Services Group to a “strong-buy” rating in a research note on Friday, August 2nd. Jefferies Financial Group boosted their target price on The Hartford Financial Services Group from $113.00 to $127.00 and gave the stock a “hold” rating in a research report on Wednesday, October 9th. UBS Group boosted their target price on The Hartford Financial Services Group from $134.00 to $135.00 and gave the stock a “buy” rating in a research report on Tuesday, October 15th. Finally, Piper Sandler boosted their target price on The Hartford Financial Services Group from $112.00 to $125.00 and gave the stock an “overweight” rating in a research report on Monday, July 29th. Ten equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $120.76.

View Our Latest Research Report on The Hartford Financial Services Group

About The Hartford Financial Services Group

(Free Report)

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.

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