Foundry Partners LLC Sells 25,778 Shares of The Hartford Financial Services Group, Inc. (NYSE:HIG)

Foundry Partners LLC trimmed its holdings in shares of The Hartford Financial Services Group, Inc. (NYSE:HIG - Free Report) by 10.9% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 210,621 shares of the insurance provider's stock after selling 25,778 shares during the period. The Hartford Financial Services Group comprises approximately 1.1% of Foundry Partners LLC's holdings, making the stock its 18th biggest holding. Foundry Partners LLC owned 0.07% of The Hartford Financial Services Group worth $21,176,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Concurrent Investment Advisors LLC acquired a new position in The Hartford Financial Services Group in the second quarter valued at $213,000. BNP Paribas Financial Markets raised its stake in shares of The Hartford Financial Services Group by 27.1% in the 1st quarter. BNP Paribas Financial Markets now owns 456,799 shares of the insurance provider's stock worth $47,073,000 after buying an additional 97,465 shares in the last quarter. Banque Cantonale Vaudoise grew its stake in shares of The Hartford Financial Services Group by 378.8% in the 1st quarter. Banque Cantonale Vaudoise now owns 16,725 shares of the insurance provider's stock worth $1,724,000 after purchasing an additional 13,232 shares during the last quarter. Sei Investments Co. lifted its position in shares of The Hartford Financial Services Group by 5.6% during the 1st quarter. Sei Investments Co. now owns 229,305 shares of the insurance provider's stock valued at $23,629,000 after acquiring an additional 12,067 shares during the last quarter. Finally, Stifel Financial Corp raised its holdings in The Hartford Financial Services Group by 14.2% during the 4th quarter. Stifel Financial Corp now owns 261,995 shares of the insurance provider's stock worth $21,059,000 after buying an additional 32,534 shares during the period. 93.42% of the stock is currently owned by hedge funds and other institutional investors.

The Hartford Financial Services Group Stock Performance

NYSE:HIG traded down $0.59 during trading hours on Friday, reaching $114.49. The stock had a trading volume of 1,281,883 shares, compared to its average volume of 1,628,513. The stock has a 50 day simple moving average of $107.40 and a 200 day simple moving average of $102.36. The Hartford Financial Services Group, Inc. has a 12-month low of $68.82 and a 12-month high of $117.46. The stock has a market cap of $33.86 billion, a P/E ratio of 13.01, a price-to-earnings-growth ratio of 0.93 and a beta of 0.93. 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 - Get Free Report) last posted its quarterly earnings data on Thursday, July 25th. The insurance provider reported $2.50 earnings per share for the quarter, topping the consensus estimate of $2.24 by $0.26. The Hartford Financial Services Group had a net margin of 11.44% and a return on equity of 21.20%. The company had revenue of $6.49 billion for the quarter, compared to analysts' expectations of $6.02 billion. During the same period in the prior year, the business earned $1.88 earnings per share. The Hartford Financial Services Group's revenue for the quarter was up 7.2% compared to the same quarter last year. On average, research analysts forecast that The Hartford Financial Services Group, Inc. will post 10.09 EPS for the current fiscal year.

The Hartford Financial Services Group Dividend Announcement

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 given a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a dividend yield of 1.64%. The ex-dividend date is Tuesday, September 3rd. The Hartford Financial Services Group's dividend payout ratio is currently 21.36%.

The Hartford Financial Services Group announced that its board has approved a share repurchase 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 an indication that the company's management believes its shares are undervalued.

Analysts Set New Price Targets

Several research firms have weighed in on HIG. Piper Sandler upped 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 note on Monday, July 29th. Royal Bank of Canada upped their target price on The Hartford Financial Services Group from $105.00 to $115.00 and gave the stock a "sector perform" rating in a research report on Monday, July 29th. Barclays started coverage on The Hartford Financial Services Group in a research report on Wednesday. They set an "equal weight" rating and a $130.00 price objective for the company. Citigroup lowered shares of The Hartford Financial Services Group from a "buy" rating to a "neutral" rating and decreased their price target for the stock from $116.00 to $114.00 in a research report on Friday, June 28th. Finally, The Goldman Sachs Group upped their target price on The Hartford Financial Services Group from $105.00 to $111.00 and gave the company a "buy" rating in a research note on Thursday, June 13th. Nine investment 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 company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $111.94.

Insider Activity

In other news, EVP Michael R. Fisher sold 4,088 shares of the business'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 value of $414,809.36. Following the sale, the executive vice president now directly owns 14,818 shares of the company's stock, valued at approximately $1,503,582.46. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 1.60% of the stock is currently 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.