The Hartford Financial Services Group, Inc. (NYSE:HIG) Stock Holdings Reduced by Raymond James & Associates

Raymond James & Associates decreased its holdings in The Hartford Financial Services Group, Inc. (NYSE:HIG - Free Report) by 9.1% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 529,504 shares of the insurance provider's stock after selling 53,040 shares during the quarter. Raymond James & Associates owned about 0.18% of The Hartford Financial Services Group worth $62,275,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in HIG. New Covenant Trust Company N.A. acquired a new stake in shares of The Hartford Financial Services Group during the first quarter valued at $26,000. Quest Partners LLC boosted its stake in shares of The Hartford Financial Services Group by 2,750.0% during the second quarter. Quest Partners LLC now owns 285 shares of the insurance provider's stock valued at $29,000 after acquiring an additional 275 shares during the last quarter. Bank & Trust Co acquired a new stake in shares of The Hartford Financial Services Group during the second quarter valued at $30,000. Family Firm Inc. acquired a new stake in shares of The Hartford Financial Services Group during the second quarter valued at $31,000. Finally, Clean Yield Group acquired a new stake in shares of The Hartford Financial Services Group during the third quarter valued at $33,000. Hedge funds and other institutional investors own 93.42% of the company's stock.

Analysts Set New Price Targets

HIG has been the topic of a number of analyst reports. Jefferies Financial Group increased their price objective on The Hartford Financial Services Group from $113.00 to $127.00 and gave the company a "hold" rating in a research note on Wednesday, October 9th. Argus raised The Hartford Financial Services Group to a "strong-buy" rating in a research note on Friday, August 2nd. Piper Sandler raised their price target on The Hartford Financial Services Group from $112.00 to $125.00 and gave the stock an "overweight" rating in a research note on Monday, July 29th. UBS Group raised their price target on The Hartford Financial Services Group from $134.00 to $135.00 and gave the stock a "buy" rating in a research note on Tuesday, October 15th. Finally, Wells Fargo & Company raised their price target on The Hartford Financial Services Group from $122.00 to $134.00 and gave the stock an "overweight" rating in a research note on Tuesday, September 17th. Ten analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $120.59.

The Hartford Financial Services Group Stock Performance

NYSE:HIG traded down $0.85 during midday trading on Tuesday, reaching $120.08. 1,142,168 shares of the company traded hands, compared to its average volume of 1,596,029. The Hartford Financial Services Group, Inc. has a twelve month low of $68.92 and a twelve month high of $123.23. The firm has a market capitalization of $35.51 billion, a price-to-earnings ratio of 13.65, a price-to-earnings-growth ratio of 0.96 and a beta of 0.93. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.32 and a quick ratio of 0.32. The company has a fifty day moving average price of $115.86 and a 200 day moving average price of $106.62.

The Hartford Financial Services Group (NYSE:HIG - Get Free Report) last released its quarterly earnings data 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 Hartford Financial Services Group had a return on equity of 21.20% and a net margin of 11.44%. The business had revenue of $6.49 billion during the quarter, compared to analyst estimates of $6.02 billion. During the same quarter in the previous year, the firm posted $1.88 EPS. The business's revenue for the quarter was up 7.2% compared to the same quarter last year. On average, analysts expect 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 initiated a share buyback program on Thursday, July 25th that allows the company to buyback $3.30 billion in shares. This buyback authorization allows the insurance provider to buy up to 10.9% of its stock through open market purchases. Stock buyback programs are often a sign that the company's board believes its stock is 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.