Lecap Asset Management Ltd. Purchases Shares of 5,379 The Hartford Financial Services Group, Inc. (NYSE:HIG)

Lecap Asset Management Ltd. purchased a new position in shares of The Hartford Financial Services Group, Inc. (NYSE:HIG - Free Report) in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 5,379 shares of the insurance provider's stock, valued at approximately $633,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of HIG. Maryland Capital Advisors Inc. bought a new position in The Hartford Financial Services Group during the third quarter worth $58,000. Private Advisor Group LLC boosted its holdings in shares of The Hartford Financial Services Group by 23.9% during the 3rd quarter. Private Advisor Group LLC now owns 18,725 shares of the insurance provider's stock worth $2,202,000 after buying an additional 3,618 shares during the period. Stanley Laman Group Ltd. grew its stake in The Hartford Financial Services Group by 3.8% in the 3rd quarter. Stanley Laman Group Ltd. now owns 32,955 shares of the insurance provider's stock valued at $3,876,000 after buying an additional 1,221 shares during the last quarter. Eastern Bank lifted its position in The Hartford Financial Services Group by 0.4% during the third quarter. Eastern Bank now owns 211,645 shares of the insurance provider's stock worth $24,892,000 after acquiring an additional 927 shares during the last quarter. Finally, Sequoia Financial Advisors LLC lifted its position in The Hartford Financial Services Group by 98.0% during the third quarter. Sequoia Financial Advisors LLC now owns 11,668 shares of the insurance provider's stock worth $1,372,000 after acquiring an additional 5,775 shares during the last quarter. Institutional investors own 93.42% of the company's stock.

The Hartford Financial Services Group Trading Down 6.8 %

NYSE:HIG traded down $8.20 during mid-day trading on Friday, hitting $112.26. 2,955,971 shares of the company's stock were exchanged, compared to its average volume of 1,600,752. The Hartford Financial Services Group, Inc. has a fifty-two week low of $68.92 and a fifty-two week high of $123.23. 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 firm has a market capitalization of $33.20 billion, a P/E ratio of 12.77, a PEG ratio of 0.96 and a beta of 0.93. The company has a 50 day simple moving average of $116.27 and a 200-day simple moving average of $106.81.

The Hartford Financial Services Group (NYSE:HIG - Get Free Report) last issued its quarterly earnings results on Thursday, October 24th. The insurance provider reported $2.53 EPS for the quarter, topping analysts' consensus estimates of $2.49 by $0.04. The company had revenue of $4.67 billion for the quarter, compared to analyst estimates of $4.62 billion. The Hartford Financial Services Group had a net margin of 11.44% and a return on equity of 21.20%. As a group, research analysts expect that The Hartford Financial Services Group, Inc. will post 10.09 earnings per share for the current year.

The Hartford Financial Services Group announced that its board has authorized a share 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 reacquire up to 10.9% of its shares through open market purchases. Shares buyback plans are often a sign that the company's board believes its stock is undervalued.

Wall Street Analyst Weigh In

HIG has been the topic of several research reports. Bank of America upped their price target on shares of The Hartford Financial Services Group from $121.00 to $124.00 and gave the company a "neutral" rating in a research note on Thursday, October 10th. Keefe, Bruyette & Woods raised their target price on shares of 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. Citigroup cut The Hartford Financial Services Group from a "buy" rating to a "neutral" rating and cut 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 stock an "overweight" rating in a research report on Monday, July 29th. Finally, Wells Fargo & Company upped their target price on The Hartford Financial Services Group from $122.00 to $134.00 and gave the company an "overweight" rating in a research report on Tuesday, September 17th. Ten equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $120.76.

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.