Epoch Investment Partners Inc. Sells 170 Shares of The Hartford Financial Services Group, Inc. (NYSE:HIG)

Epoch Investment Partners Inc. reduced its position in shares of The Hartford Financial Services Group, Inc. (NYSE:HIG) by 5.1% in the first quarter, HoldingsChannel reports. The firm owned 3,164 shares of the insurance provider’s stock after selling 170 shares during the quarter. Epoch Investment Partners Inc.’s holdings in The Hartford Financial Services Group were worth $326,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also made changes to their positions in the company. Hotchkis & Wiley Capital Management LLC grew its stake in shares of The Hartford Financial Services Group by 26.2% during the 4th quarter. Hotchkis & Wiley Capital Management LLC now owns 6,119,863 shares of the insurance provider’s stock valued at $491,915,000 after purchasing an additional 1,272,290 shares during the period. Victory Capital Management Inc. grew its stake in shares of The Hartford Financial Services Group by 2.1% during the 4th quarter. Victory Capital Management Inc. now owns 5,247,966 shares of the insurance provider’s stock valued at $421,832,000 after acquiring an additional 105,799 shares during the period. LSV Asset Management grew its stake in shares of The Hartford Financial Services Group by 3.5% during the 4th quarter. LSV Asset Management now owns 4,821,885 shares of the insurance provider’s stock valued at $387,583,000 after acquiring an additional 165,190 shares during the period. Norges Bank bought a new position in shares of The Hartford Financial Services Group during the 4th quarter valued at approximately $278,704,000. Finally, Northern Trust Corp grew its stake in shares of The Hartford Financial Services Group by 0.5% during the 4th quarter. Northern Trust Corp now owns 3,381,943 shares of the insurance provider’s stock valued at $271,841,000 after acquiring an additional 18,419 shares during the period. 93.42% of the stock is currently owned by institutional investors.

The Hartford Financial Services Group Trading Up 7.1 %

NYSE:HIG traded up $7.30 during midday trading on Friday, hitting $109.63. 2,870,720 shares of the company traded hands, compared to its average volume of 1,418,687. The firm’s fifty day moving average is $101.55 and its 200-day moving average is $97.49. The Hartford Financial Services Group, Inc. has a 12-month low of $68.82 and a 12-month high of $109.68. The firm has a market capitalization of $32.42 billion, a P/E ratio of 12.46, a P/E/G ratio of 0.91 and a beta of 0.93. The company has a current ratio of 0.31, a quick ratio of 0.31 and a debt-to-equity ratio of 0.29.

The Hartford Financial Services Group (NYSE:HIG) last released its quarterly earnings results on Thursday, July 25th. The insurance provider reported $2.50 earnings per share for the quarter, beating the consensus estimate of $2.24 by $0.26. The Hartford Financial Services Group had a return on equity of 21.52% and a net margin of 11.44%. The company had revenue of $6.49 billion for the quarter, compared to analyst estimates of $6.02 billion. During the same quarter in the prior year, the firm posted $1.88 EPS. The Hartford Financial Services Group’s quarterly revenue was up 7.2% compared to the same quarter last year. On average, sell-side analysts predict that The Hartford Financial Services Group, Inc. will post 9.86 EPS for the current year.

The Hartford Financial Services Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 2nd. Investors of record on Tuesday, September 3rd will be given a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a yield of 1.71%. The ex-dividend date of this dividend is Tuesday, September 3rd. The Hartford Financial Services Group’s payout ratio is currently 21.36%.

The Hartford Financial Services Group declared that its Board of Directors has authorized a stock 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 purchase up to 10.9% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s management believes its shares are undervalued.

Wall Street Analyst Weigh In

HIG has been the subject of a number of recent research reports. TD Cowen boosted their price objective on The Hartford Financial Services Group to $144.00 and gave the company a “buy” rating in a research note on Wednesday, April 3rd. Citigroup downgraded The Hartford Financial Services Group from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $116.00 to $114.00 in a research note on Friday, June 28th. Raymond James restated an “outperform” rating and issued a $120.00 price target (up from $100.00) on shares of The Hartford Financial Services Group in a research note on Monday, April 1st. The Goldman Sachs Group upped their price target on The Hartford Financial Services Group from $105.00 to $111.00 and gave the stock a “buy” rating in a research note on Thursday, June 13th. Finally, Argus upped their price target on The Hartford Financial Services Group from $104.00 to $110.00 and gave the stock a “buy” rating in a research note on Wednesday, May 15th. Eight analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $107.50.

Insider Activity at The Hartford Financial Services Group

In related news, EVP Michael R. Fisher sold 4,088 shares of the firm’s stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $101.47, for a total transaction of $414,809.36. Following the sale, the executive vice president now owns 14,818 shares of the company’s stock, valued at $1,503,582.46. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other The Hartford Financial Services Group news, EVP Jonathan R. Bennett sold 18,335 shares of the stock in a transaction dated Thursday, May 9th. The stock was sold at an average price of $100.78, for a total value of $1,847,801.30. Following the completion of the sale, the executive vice president now directly owns 25,643 shares in the company, valued at $2,584,301.54. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Michael R. Fisher sold 4,088 shares of the firm’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 completion of the transaction, the executive vice president now owns 14,818 shares of the company’s stock, valued at $1,503,582.46. The disclosure for this sale can be found here. Insiders have sold a total of 94,499 shares of company stock valued at $9,449,309 over the last quarter. 1.60% of the stock is owned by corporate insiders.

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.