Legacy Capital Wealth Partners LLC Buys New Stake in The Hartford Financial Services Group, Inc. (NYSE:HIG)

Legacy Capital Wealth Partners LLC acquired a new stake in shares of The Hartford Financial Services Group, Inc. (NYSE:HIG - Free Report) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 7,148 shares of the insurance provider's stock, valued at approximately $719,000.

Other institutional investors have also added to or reduced their stakes in the company. International Assets Investment Management LLC purchased a new stake in shares of The Hartford Financial Services Group in the fourth quarter valued at approximately $11,394,000. First Trust Direct Indexing L.P. increased its position in shares of The Hartford Financial Services Group by 27.3% during the fourth quarter. First Trust Direct Indexing L.P. now owns 5,556 shares of the insurance provider's stock worth $447,000 after acquiring an additional 1,191 shares during the last quarter. Los Angeles Capital Management LLC increased its position in shares of The Hartford Financial Services Group by 316.4% during the fourth quarter. Los Angeles Capital Management LLC now owns 16,274 shares of the insurance provider's stock worth $1,308,000 after acquiring an additional 12,366 shares during the last quarter. M&T Bank Corp increased its holdings in The Hartford Financial Services Group by 11.3% in the fourth quarter. M&T Bank Corp now owns 35,025 shares of the insurance provider's stock valued at $2,815,000 after buying an additional 3,569 shares during the last quarter. Finally, National Bank of Canada FI increased its holdings in The Hartford Financial Services Group by 4.4% in the fourth quarter. National Bank of Canada FI now owns 78,654 shares of the insurance provider's stock valued at $6,402,000 after buying an additional 3,297 shares during the last quarter. Institutional investors and hedge funds own 93.42% of the company's stock.

The Hartford Financial Services Group Stock Performance

Shares of HIG stock traded up $0.07 on Tuesday, reaching $116.17. The stock had a trading volume of 2,089,115 shares, compared to its average volume of 1,632,143. The company has a quick ratio of 0.32, a current ratio of 0.32 and a debt-to-equity ratio of 0.28. The firm's 50-day moving average is $106.35 and its two-hundred day moving average is $101.86. The firm has a market capitalization of $34.36 billion, a price-to-earnings ratio of 13.19, a P/E/G ratio of 0.93 and a beta of 0.92. The Hartford Financial Services Group, Inc. has a 12 month low of $68.82 and a 12 month high of $116.83.

The Hartford Financial Services Group (NYSE:HIG - Get Free Report) last issued its earnings results on Thursday, July 25th. The insurance provider reported $2.50 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.24 by $0.26. The company 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 Hartford Financial Services Group's quarterly revenue was up 7.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.88 EPS. On average, research analysts expect that The Hartford Financial Services Group, Inc. will post 10.09 EPS for the current fiscal year.

The Hartford Financial Services Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 2nd. Investors of record on Tuesday, September 3rd will be paid a $0.47 dividend. The ex-dividend date of this dividend is Tuesday, September 3rd. This represents a $1.88 dividend on an annualized basis and a yield of 1.62%. The Hartford Financial Services Group's dividend payout ratio (DPR) is currently 21.36%.

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

Analysts Set New Price Targets

Several research firms have recently commented on HIG. Citigroup lowered The Hartford Financial Services Group from a "buy" rating to a "neutral" rating and lowered their target price for the company from $116.00 to $114.00 in a report on Friday, June 28th. Bank of America dropped their price target on The Hartford Financial Services Group from $113.00 to $111.00 and set a "buy" rating on the stock in a report on Thursday, July 11th. Argus raised The Hartford Financial Services Group to a "strong-buy" rating in a report on Friday, August 2nd. Keefe, Bruyette & Woods boosted their target price on shares of The Hartford Financial Services Group from $120.00 to $133.00 and gave the company an "outperform" rating in a research note on Thursday, August 1st. Finally, Morgan Stanley dropped their price target 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. Eight research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $110.88.

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 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 owns 14,818 shares in the company, valued at approximately $1,503,582.46. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 1.60% of the stock is owned by company insiders.

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.