Natixis Advisors LLC Decreases Position in The Hartford Financial Services Group, Inc. (NYSE:HIG)

Natixis Advisors LLC cut its holdings in The Hartford Financial Services Group, Inc. (NYSE:HIG - Free Report) by 49.1% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 182,755 shares of the insurance provider's stock after selling 176,326 shares during the quarter. Natixis Advisors LLC owned 0.06% of The Hartford Financial Services Group worth $18,374,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of HIG. New Covenant Trust Company N.A. bought a new stake in shares of The Hartford Financial Services Group in the 1st quarter valued at approximately $26,000. Cape Investment Advisory Inc. lifted its position in The Hartford Financial Services Group by 189.9% in the fourth quarter. Cape Investment Advisory Inc. now owns 374 shares of the insurance provider's stock worth $30,000 after buying an additional 245 shares during the last quarter. Bank & Trust Co purchased a new position in The Hartford Financial Services Group during the second quarter worth $30,000. First United Bank & Trust bought a new position in The Hartford Financial Services Group during the fourth quarter valued at $31,000. Finally, Family Firm Inc. purchased a new stake in shares of The Hartford Financial Services Group in the second quarter valued at $31,000. Institutional investors own 93.42% of the company's stock.

The Hartford Financial Services Group Stock Down 0.2 %

NYSE:HIG traded down $0.18 during mid-day trading on Wednesday, hitting $116.00. 1,213,279 shares of the company's stock traded hands, compared to its average volume of 1,629,759. The company has a market capitalization of $34.31 billion, a P/E ratio of 13.20, a P/E/G ratio of 0.93 and a beta of 0.92. 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 company has a fifty day moving average of $106.60 and a 200 day moving average of $102.03. The Hartford Financial Services Group, Inc. has a twelve month low of $68.82 and a twelve month high of $117.46.

The Hartford Financial Services Group (NYSE:HIG - Get Free Report) last posted 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 during 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 firm's quarterly revenue was up 7.2% on a year-over-year basis. During the same period in the previous year, the firm posted $1.88 earnings per share. On average, analysts forecast that The Hartford Financial Services Group, Inc. will post 10.09 EPS for the current year.

The Hartford Financial Services Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 2nd. Stockholders of record on Tuesday, September 3rd will be issued a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a dividend yield of 1.62%. The ex-dividend date is Tuesday, September 3rd. The Hartford Financial Services Group's dividend payout ratio (DPR) is 21.36%.

The Hartford Financial Services Group announced that its Board of Directors has approved a stock repurchase program on Thursday, July 25th that authorizes the company to repurchase $3.30 billion in shares. This repurchase authorization authorizes the insurance provider to buy up to 10.9% of its shares through open market purchases. Shares repurchase programs are often an indication that the company's board believes its shares are undervalued.

Analyst Upgrades and Downgrades

HIG has been the subject of a number of recent analyst reports. Bank of America dropped their price target on shares of The Hartford Financial Services Group from $113.00 to $111.00 and set a "buy" rating for the company in a research note on Thursday, July 11th. JPMorgan Chase & Co. upped their target price on The Hartford Financial Services Group from $104.00 to $116.00 and gave the company a "neutral" rating in a research note on Thursday, July 11th. The Goldman Sachs Group raised 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. Citigroup downgraded 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, Piper Sandler lifted their target price on The Hartford Financial Services Group from $112.00 to $125.00 and gave the stock an "overweight" rating in a research report on Monday, July 29th. Eight equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $110.88.

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 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 sale, the executive vice president now owns 14,818 shares in the company, valued at $1,503,582.46. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Company insiders own 1.60% of the company's stock.

The Hartford Financial Services Group 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.