The Hartford Financial Services Group, Inc. (NYSE:HIG) Shares Sold by Monte Financial Group LLC

Monte Financial Group LLC reduced its holdings in shares of The Hartford Financial Services Group, Inc. (NYSE:HIG) by 11.8% during the 3rd quarter, HoldingsChannel reports. The firm owned 45,308 shares of the insurance provider’s stock after selling 6,038 shares during the period. The Hartford Financial Services Group accounts for approximately 2.2% of Monte Financial Group LLC’s investment portfolio, making the stock its 25th biggest holding. Monte Financial Group LLC’s holdings in The Hartford Financial Services Group were worth $5,329,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. New Covenant Trust Company N.A. acquired a new position in The Hartford Financial Services Group in the 1st quarter valued at about $26,000. Clean Yield Group purchased a new position in The Hartford Financial Services Group in the 3rd quarter valued at $33,000. Quest Partners LLC increased its stake in The Hartford Financial Services Group by 2,750.0% in the 2nd quarter. Quest Partners LLC now owns 285 shares of the insurance provider’s stock valued at $29,000 after buying an additional 275 shares during the period. Bank & Trust Co acquired a new position in The Hartford Financial Services Group in the 2nd quarter valued at $30,000. Finally, Family Firm Inc. purchased a new position in The Hartford Financial Services Group during the second quarter worth about $31,000. 93.42% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

HIG has been the topic of a number of analyst reports. Barclays initiated coverage on The Hartford Financial Services Group in a research note on Wednesday, September 4th. They issued an “equal weight” rating and a $130.00 price target on the stock. Wells Fargo & Company upped their target price on shares of The Hartford Financial Services Group from $122.00 to $134.00 and gave the stock an “overweight” rating in a research report on Tuesday, September 17th. UBS Group lifted their price target on shares of The Hartford Financial Services Group from $134.00 to $135.00 and gave the company a “buy” rating in a research report on Tuesday, October 15th. JPMorgan Chase & Co. upped their price target on The Hartford Financial Services Group from $117.00 to $122.00 and gave the stock a “neutral” rating in a report on Thursday, October 10th. Finally, Keefe, Bruyette & Woods lifted their price objective on The Hartford Financial Services Group from $120.00 to $133.00 and gave the stock an “outperform” rating in a report on Thursday, August 1st. Ten 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. Based on data from MarketBeat, The Hartford Financial Services Group presently has a consensus rating of “Moderate Buy” and a consensus price target of $120.59.

The Hartford Financial Services Group Price Performance

NYSE:HIG opened at $119.85 on Thursday. The Hartford Financial Services Group, Inc. has a 12-month low of $68.92 and a 12-month high of $123.23. The firm has a market cap of $35.45 billion, a price-to-earnings ratio of 13.62, a price-to-earnings-growth ratio of 0.96 and a beta of 0.93. The company’s 50-day moving average is $116.06 and its two-hundred day moving average is $106.71. 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 Hartford Financial Services Group (NYSE:HIG) last announced its earnings results on Thursday, July 25th. The insurance provider reported $2.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.24 by $0.26. The firm had revenue of $6.49 billion for the quarter, compared to analyst estimates 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 Hartford Financial Services Group’s revenue was up 7.2% compared to the same quarter last year. During the same quarter last year, the business earned $1.88 earnings per share. Research analysts expect that The Hartford Financial Services Group, Inc. will post 10.09 EPS for the current year.

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

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.