Massmutual Trust Co. FSB ADV Buys 424 Shares of The Hartford Financial Services Group, Inc. (NYSE:HIG)

Massmutual Trust Co. FSB ADV lifted its stake in shares of The Hartford Financial Services Group, Inc. (NYSE:HIG) by 52.7% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,228 shares of the insurance provider’s stock after acquiring an additional 424 shares during the quarter. Massmutual Trust Co. FSB ADV’s holdings in The Hartford Financial Services Group were worth $123,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also added to or reduced their stakes in the company. BNP Paribas Financial Markets grew its stake in The Hartford Financial Services Group by 27.1% during the first quarter. BNP Paribas Financial Markets now owns 456,799 shares of the insurance provider’s stock worth $47,073,000 after purchasing an additional 97,465 shares during the period. Banque Cantonale Vaudoise grew its stake in The Hartford Financial Services Group by 378.8% during the first 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 period. Sei Investments Co. grew its stake in The Hartford Financial Services Group by 5.6% during the first quarter. Sei Investments Co. now owns 229,305 shares of the insurance provider’s stock worth $23,629,000 after purchasing an additional 12,067 shares during the period. Stifel Financial Corp grew its stake in The Hartford Financial Services Group by 14.2% during the fourth quarter. Stifel Financial Corp now owns 261,995 shares of the insurance provider’s stock worth $21,059,000 after purchasing an additional 32,534 shares during the period. Finally, SteelPeak Wealth LLC grew its stake in The Hartford Financial Services Group by 65.5% during the first quarter. SteelPeak Wealth LLC now owns 34,626 shares of the insurance provider’s stock worth $3,584,000 after purchasing an additional 13,710 shares during the period. Institutional investors and hedge funds own 93.42% of the company’s stock.

The Hartford Financial Services Group Price Performance

The Hartford Financial Services Group stock traded up $0.25 during midday trading on Tuesday, hitting $105.11. 1,593,376 shares of the company’s stock were exchanged, compared to its average volume of 1,674,311. The Hartford Financial Services Group, Inc. has a 52-week low of $68.82 and a 52-week high of $112.65. The stock has a 50-day moving average price of $102.47 and a two-hundred day moving average price of $98.72. 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 company has a market cap of $31.09 billion, a P/E ratio of 12.08, a PEG ratio of 0.89 and a beta of 0.92.

The Hartford Financial Services Group (NYSE:HIG) last issued its quarterly earnings results on Thursday, July 25th. The insurance provider reported $2.50 earnings per share (EPS) for the quarter, topping the consensus estimate 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 firm 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 company posted $1.88 earnings per share. The company’s revenue was up 7.2% compared to the same quarter last year. On average, equities research analysts forecast that The Hartford Financial Services Group, Inc. will post 10.07 earnings per share for the current year.

The Hartford Financial Services Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 2nd. Stockholders of record on Tuesday, September 3rd will be paid a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a dividend yield of 1.79%. The ex-dividend date is Tuesday, September 3rd. The Hartford Financial Services Group’s dividend payout ratio (DPR) is presently 21.36%.

The Hartford Financial Services Group announced that its board has authorized a stock repurchase program on Thursday, July 25th that authorizes the company to repurchase $3.30 billion in outstanding shares. This repurchase authorization authorizes the insurance provider to reacquire up to 10.9% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s leadership believes its stock is undervalued.

Wall Street Analyst Weigh In

HIG has been the subject of several recent analyst reports. Piper Sandler raised their target price 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. Bank of America cut their target price on The Hartford Financial Services Group from $113.00 to $111.00 and set a “buy” rating on the stock in a report on Thursday, July 11th. Evercore ISI lifted their price target on shares of The Hartford Financial Services Group from $96.00 to $104.00 and gave the company an “in-line” rating in a research report on Thursday, April 11th. Argus upgraded shares of The Hartford Financial Services Group to a “strong-buy” rating in a report on Friday. Finally, The Goldman Sachs Group lifted their price objective on shares of The Hartford Financial Services Group from $105.00 to $111.00 and gave the company a “buy” rating in a report on Thursday, June 13th. Eight analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $110.88.

Insider Activity

In other The Hartford Financial Services Group news, EVP Michael R. Fisher sold 4,088 shares of the company’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 transaction of $414,809.36. Following the transaction, the executive vice president now owns 14,818 shares in the company, valued at approximately $1,503,582.46. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other The Hartford Financial Services Group news, CFO Beth Ann Costello sold 72,076 shares of the company’s stock in a transaction that occurred on Wednesday, May 8th. The stock was sold at an average price of $99.71, for a total transaction of $7,186,697.96. Following the transaction, the chief financial officer now owns 69,169 shares in the company, valued at approximately $6,896,840.99. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Michael R. Fisher sold 4,088 shares of the company’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 completion of the sale, the executive vice president now owns 14,818 shares in the company, valued at approximately $1,503,582.46. The disclosure for this sale can be found here. In the last quarter, insiders sold 94,499 shares of company stock valued at $9,449,309. 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.