Angeles Investment Advisors LLC Sells 1,029 Shares of The Hartford Financial Services Group, Inc. (NYSE:HIG)

Angeles Investment Advisors LLC lessened its holdings in shares of The Hartford Financial Services Group, Inc. (NYSE:HIG) by 22.2% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,606 shares of the insurance provider’s stock after selling 1,029 shares during the quarter. Angeles Investment Advisors LLC’s holdings in The Hartford Financial Services Group were worth $363,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Brown Brothers Harriman & Co. boosted its position in The Hartford Financial Services Group by 3,770.8% during the second quarter. Brown Brothers Harriman & Co. now owns 8,477 shares of the insurance provider’s stock worth $852,000 after purchasing an additional 8,258 shares during the period. Plato Investment Management Ltd boosted its position in The Hartford Financial Services Group by 2.8% during the second quarter. Plato Investment Management Ltd now owns 18,458 shares of the insurance provider’s stock worth $1,856,000 after purchasing an additional 497 shares during the period. Envestnet Asset Management Inc. boosted its position in The Hartford Financial Services Group by 7.8% during the second quarter. Envestnet Asset Management Inc. now owns 561,488 shares of the insurance provider’s stock worth $56,452,000 after purchasing an additional 40,778 shares during the period. Thoroughbred Financial Services LLC boosted its position in shares of The Hartford Financial Services Group by 62.0% in the second quarter. Thoroughbred Financial Services LLC now owns 13,883 shares of the insurance provider’s stock valued at $1,395,000 after acquiring an additional 5,314 shares during the period. Finally, Parallel Advisors LLC boosted its position in shares of The Hartford Financial Services Group by 4.4% in the second quarter. Parallel Advisors LLC now owns 16,657 shares of the insurance provider’s stock valued at $1,675,000 after acquiring an additional 709 shares during the period. Institutional investors own 93.42% of the company’s stock.

The Hartford Financial Services Group Trading Up 0.2 %

HIG stock opened at $115.36 on Monday. The company has a market capitalization of $34.12 billion, a PE ratio of 13.11, a price-to-earnings-growth ratio of 0.91 and a beta of 0.93. The Hartford Financial Services Group, Inc. has a one year low of $68.82 and a one year high of $117.68. The company’s 50 day moving average price is $109.01 and its two-hundred day moving average price is $103.20. 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 posted its quarterly earnings results on Thursday, July 25th. The insurance provider reported $2.50 EPS for the quarter, topping the consensus estimate of $2.24 by $0.26. The firm had revenue of $6.49 billion for the quarter, compared to the consensus estimate 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 business’s revenue was up 7.2% compared to the same quarter last year. During the same period last year, the firm posted $1.88 earnings per share. As a group, analysts predict that The Hartford Financial Services Group, Inc. will post 10.09 earnings per share for the current fiscal year.

The Hartford Financial Services Group declared that its Board of Directors has initiated a stock repurchase program on Thursday, July 25th that permits the company to repurchase $3.30 billion in outstanding shares. This repurchase authorization permits the insurance provider to reacquire up to 10.9% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board believes its shares are undervalued.

The Hartford Financial Services Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 2nd. Shareholders of record on Tuesday, September 3rd will be paid a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a dividend yield of 1.63%. The ex-dividend date of this dividend is Tuesday, September 3rd. The Hartford Financial Services Group’s dividend payout ratio (DPR) is presently 21.36%.

Insiders Place Their Bets

In other The Hartford Financial Services Group news, EVP Michael R. Fisher sold 4,088 shares of The Hartford Financial Services Group stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $101.47, for a total transaction of $414,809.36. Following the transaction, the executive vice president now directly owns 14,818 shares of the company’s stock, valued at $1,503,582.46. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 1.60% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on HIG shares. Piper Sandler raised their price objective on shares of The Hartford Financial Services Group from $112.00 to $125.00 and gave the company an “overweight” rating in a research report on Monday, July 29th. Argus upgraded shares of The Hartford Financial Services Group to a “strong-buy” rating in a research report on Friday, August 2nd. Morgan Stanley cut 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 report on Wednesday, July 10th. Citigroup lowered shares of The Hartford Financial Services Group from a “buy” rating to a “neutral” rating and cut their price objective for the company from $116.00 to $114.00 in a research report on Friday, June 28th. Finally, JPMorgan Chase & Co. raised their price objective on shares of The Hartford Financial Services Group from $104.00 to $116.00 and gave the company a “neutral” rating in a research report on Thursday, July 11th. Nine analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, The Hartford Financial Services Group currently has an average rating of “Moderate Buy” and a consensus target price of $111.94.

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.