Sumitomo Mitsui Trust Holdings Inc. Sells 71,774 Shares of The Hartford Financial Services Group, Inc. (NYSE:HIG)

Sumitomo Mitsui Trust Holdings Inc. trimmed its stake in The Hartford Financial Services Group, Inc. (NYSE:HIG - Free Report) by 8.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 795,703 shares of the insurance provider's stock after selling 71,774 shares during the period. Sumitomo Mitsui Trust Holdings Inc. owned about 0.27% of The Hartford Financial Services Group worth $80,000,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the stock. Hotchkis & Wiley Capital Management LLC raised its holdings in shares of The Hartford Financial Services Group by 26.2% in the fourth quarter. Hotchkis & Wiley Capital Management LLC now owns 6,119,863 shares of the insurance provider's stock valued at $491,915,000 after buying an additional 1,272,290 shares during the last quarter. Victory Capital Management Inc. lifted its position in shares of The Hartford Financial Services Group by 2.1% during the fourth quarter. Victory Capital Management Inc. now owns 5,247,966 shares of the insurance provider's stock worth $421,832,000 after purchasing an additional 105,799 shares in the last quarter. LSV Asset Management increased its holdings in shares of The Hartford Financial Services Group by 3.5% in the fourth quarter. LSV Asset Management now owns 4,821,885 shares of the insurance provider's stock valued at $387,583,000 after purchasing an additional 165,190 shares in the last quarter. Norges Bank bought a new position in The Hartford Financial Services Group in the 4th quarter worth approximately $278,704,000. Finally, Northern Trust Corp lifted its holdings in 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 worth $271,841,000 after buying an additional 18,419 shares in the last quarter. 93.42% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on HIG. JPMorgan Chase & Co. boosted their target price on The Hartford Financial Services Group from $104.00 to $116.00 and gave the stock a "neutral" rating in a research report on Thursday, July 11th. Morgan Stanley reduced their target price on shares of The Hartford Financial Services Group from $109.00 to $107.00 and set an "equal weight" rating on the stock in a research note on Wednesday, July 10th. The Goldman Sachs Group lifted their price target on shares of The Hartford Financial Services Group from $105.00 to $111.00 and gave the stock a "buy" rating in a research report on Thursday, June 13th. Roth Mkm increased their price objective 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. Finally, Argus raised shares of The Hartford Financial Services Group to a "strong-buy" rating in a report on Friday, August 2nd. Eight equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $110.88.

The Hartford Financial Services Group Stock Up 0.3 %

HIG stock traded up $0.33 during mid-day trading on Friday, hitting $110.46. 1,510,723 shares of the company were exchanged, compared to its average volume of 1,654,159. The firm has a market cap of $32.67 billion, a P/E ratio of 12.55, a P/E/G ratio of 0.89 and a beta of 0.92. The Hartford Financial Services Group, Inc. has a 1-year low of $68.82 and a 1-year high of $112.65. 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 firm's 50 day simple moving average is $103.74 and its 200 day simple moving average is $100.08.

The Hartford Financial Services Group (NYSE:HIG - Get Free Report) last posted its quarterly earnings data on Thursday, July 25th. The insurance provider reported $2.50 EPS for the quarter, beating the consensus estimate of $2.24 by $0.26. The business had revenue of $6.49 billion for the quarter, compared to analysts' expectations 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 firm's revenue was up 7.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.88 EPS. On average, sell-side analysts predict that The Hartford Financial Services Group, Inc. will post 10.07 EPS for the current fiscal year.

The Hartford Financial Services Group Announces Dividend

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

The Hartford Financial Services Group declared that its board has approved a share buyback program on Thursday, July 25th that allows the company to buyback $3.30 billion in shares. This buyback authorization allows the insurance provider to repurchase up to 10.9% of its stock through open market purchases. Stock buyback programs are often an indication that the company's board of directors believes its stock is undervalued.

Insider Activity at The Hartford Financial Services Group

In other The Hartford Financial Services Group news, EVP Michael R. Fisher sold 4,088 shares of the company's stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $101.47, for a total transaction 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 approximately $1,503,582.46. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 1.60% of the stock is owned by 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.