CHB Investment Group LLC Buys Shares of 26,640 The Hartford Financial Services Group, Inc. (NYSE:HIG)

CHB Investment Group LLC acquired a new position in shares of The Hartford Financial Services Group, Inc. (NYSE:HIG - Free Report) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 26,640 shares of the insurance provider's stock, valued at approximately $3,133,000. The Hartford Financial Services Group comprises about 1.7% of CHB Investment Group LLC's portfolio, making the stock its 12th biggest holding.

Other institutional investors have also recently bought and sold shares of the company. New Covenant Trust Company N.A. bought a new stake in The Hartford Financial Services Group during the 1st quarter worth approximately $26,000. Clean Yield Group acquired a new stake in shares of The Hartford Financial Services Group during the third quarter worth $33,000. Quest Partners LLC increased its holdings in The Hartford Financial Services Group by 2,750.0% during the 2nd quarter. Quest Partners LLC now owns 285 shares of the insurance provider's stock worth $29,000 after purchasing an additional 275 shares in the last quarter. Bank & Trust Co bought a new position in shares of The Hartford Financial Services Group during the second quarter worth about $30,000. Finally, Family Firm Inc. acquired a new stake in The Hartford Financial Services Group in the 2nd quarter valued at approximately $31,000. Institutional investors and hedge funds own 93.42% of the company's stock.

Wall Street Analyst Weigh In

HIG has been the subject of a number of recent research reports. Jefferies Financial Group upped their price target on The Hartford Financial Services Group from $113.00 to $127.00 and gave the stock a "hold" rating in a research report on Wednesday, October 9th. Citigroup lowered shares of The Hartford Financial Services Group from a "buy" rating to a "neutral" rating and lowered their price target for the company from $116.00 to $114.00 in a research note on Friday, June 28th. Piper Sandler increased their price target on The Hartford Financial Services Group from $112.00 to $125.00 and gave the company an "overweight" rating in a research report on Monday, July 29th. Argus raised shares of The Hartford Financial Services Group to a "strong-buy" rating in a research report on Friday, August 2nd. Finally, Wells Fargo & Company upped their target price on shares of The Hartford Financial Services Group from $122.00 to $134.00 and gave the company an "overweight" rating in a report on Tuesday, September 17th. Ten analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $120.59.

The Hartford Financial Services Group Stock Performance

NYSE HIG traded down $0.31 during trading on Friday, reaching $122.02. The company's stock had a trading volume of 1,299,025 shares, compared to its average volume of 1,601,375. The firm has a 50 day moving average price of $115.06 and a 200 day moving average price of $106.17. The Hartford Financial Services Group, Inc. has a 12 month low of $68.92 and a 12 month high of $123.23. The firm has a market capitalization of $36.09 billion, a price-to-earnings ratio of 13.87, a price-to-earnings-growth ratio of 0.96 and a beta of 0.93. The company has a current ratio of 0.32, a quick ratio of 0.32 and a debt-to-equity ratio of 0.28.

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

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

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.