Great Lakes Advisors LLC Sells 60,074 Shares of The Hartford Financial Services Group, Inc. (NYSE:HIG)

Great Lakes Advisors LLC lessened its holdings in shares of The Hartford Financial Services Group, Inc. (NYSE:HIG - Free Report) by 5.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,151,960 shares of the insurance provider's stock after selling 60,074 shares during the period. The Hartford Financial Services Group makes up 1.0% of Great Lakes Advisors LLC's portfolio, making the stock its 20th biggest position. Great Lakes Advisors LLC owned approximately 0.39% of The Hartford Financial Services Group worth $115,818,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. Norges Bank acquired a new stake in shares of The Hartford Financial Services Group in the 4th quarter valued at about $278,704,000. Hotchkis & Wiley Capital Management LLC lifted its stake in The Hartford Financial Services Group by 26.2% in the 4th quarter. Hotchkis & Wiley Capital Management LLC now owns 6,119,863 shares of the insurance provider's stock valued at $491,915,000 after acquiring an additional 1,272,290 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its stake in The Hartford Financial Services Group by 72.0% in the 1st quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 1,335,594 shares of the insurance provider's stock valued at $137,633,000 after acquiring an additional 559,019 shares in the last quarter. Swedbank AB bought a new position in shares of The Hartford Financial Services Group during the 1st quarter worth approximately $53,980,000. Finally, KBC Group NV raised its holdings in shares of The Hartford Financial Services Group by 85.5% in the fourth quarter. KBC Group NV now owns 1,074,470 shares of the insurance provider's stock valued at $86,366,000 after purchasing an additional 495,192 shares during the last quarter. 93.42% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. Piper Sandler increased their target price on shares of The Hartford Financial Services Group from $112.00 to $125.00 and gave the stock an "overweight" rating in a report on Monday, July 29th. Bank of America decreased their price objective on The Hartford Financial Services Group from $113.00 to $111.00 and set a "buy" rating for the company in a report on Thursday, July 11th. Keefe, Bruyette & Woods upped their target price 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. JPMorgan Chase & Co. raised their price target 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. Finally, Morgan Stanley dropped their price objective on 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. Nine equities 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. According to MarketBeat.com, The Hartford Financial Services Group has a consensus rating of "Moderate Buy" and a consensus price target of $111.94.

The Hartford Financial Services Group Stock Performance

Shares of HIG stock traded down $0.59 during midday trading on Friday, hitting $114.49. 1,281,883 shares of the company were exchanged, compared to its average volume of 1,628,513. The firm has a market capitalization of $33.86 billion, a P/E ratio of 13.01, a PEG 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, Inc. has a 52 week low of $68.82 and a 52 week high of $117.46. The firm's 50 day moving average price is $107.40 and its two-hundred day moving average price is $102.43.

The Hartford Financial Services Group (NYSE:HIG - Get Free Report) last issued its quarterly earnings data 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 company had revenue of $6.49 billion during the quarter, compared to analysts' expectations of $6.02 billion. The Hartford Financial Services Group had a return on equity of 21.20% and a net margin of 11.44%. The business's revenue was up 7.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.88 earnings per share. As a group, equities research analysts anticipate that The Hartford Financial Services Group, Inc. will post 10.09 earnings per share for the current year.

The Hartford Financial Services Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 2nd. Shareholders 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 yield of 1.64%. The ex-dividend date of this dividend is Tuesday, September 3rd. The Hartford Financial Services Group's payout ratio is 21.36%.

The Hartford Financial Services Group declared that its board has approved a share buyback program on Thursday, July 25th that authorizes the company to buyback $3.30 billion in outstanding shares. This buyback authorization authorizes 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 board of directors believes its shares are undervalued.

Insider Transactions 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 dated 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 directly owns 14,818 shares of the company's stock, valued at $1,503,582.46. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 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.