Lynx Investment Advisory Acquires Shares of 716 The Hartford Financial Services Group, Inc. (NYSE:HIG)

Lynx Investment Advisory bought a new position in The Hartford Financial Services Group, Inc. (NYSE:HIG) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 716 shares of the insurance provider’s stock, valued at approximately $72,000.

Several other large investors also recently added to or reduced their stakes in the business. Mather Group LLC. boosted its holdings in shares of The Hartford Financial Services Group by 9.4% during the 2nd quarter. Mather Group LLC. now owns 1,845 shares of the insurance provider’s stock worth $190,000 after buying an additional 159 shares during the period. Insight Wealth Strategies LLC increased its position in shares of The Hartford Financial Services Group by 0.9% during the 2nd quarter. Insight Wealth Strategies LLC now owns 14,906 shares of the insurance provider’s stock worth $1,499,000 after purchasing an additional 130 shares in the last quarter. Bank & Trust Co acquired a new stake in shares of The Hartford Financial Services Group during the 2nd quarter worth about $30,000. Massmutual Trust Co. FSB ADV grew its holdings in The Hartford Financial Services Group by 52.7% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 1,228 shares of the insurance provider’s stock worth $123,000 after acquiring an additional 424 shares during the last quarter. Finally, GAMMA Investing LLC grew its holdings in The Hartford Financial Services Group by 29.7% during the 2nd quarter. GAMMA Investing LLC now owns 7,599 shares of the insurance provider’s stock worth $764,000 after acquiring an additional 1,741 shares during the last quarter. 93.42% of the stock is owned by institutional investors.

The Hartford Financial Services Group Stock Up 1.1 %

Shares of NYSE HIG traded up $1.19 during midday trading on Wednesday, reaching $106.30. The company’s stock had a trading volume of 648,494 shares, compared to its average volume of 1,667,686. 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, Inc. has a fifty-two week low of $68.82 and a fifty-two week high of $112.65. The stock has a market capitalization of $31.44 billion, a price-to-earnings ratio of 11.94, a PEG ratio of 0.89 and a beta of 0.92. The stock has a 50 day simple moving average of $102.57 and a 200-day simple moving average of $98.87.

The Hartford Financial Services Group (NYSE:HIG) last posted 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 net margin of 11.44% and a return on equity of 21.20%. The company had revenue of $6.49 billion for the quarter, compared to the consensus estimate of $6.02 billion. During the same period last year, the company earned $1.88 earnings per share. The firm’s revenue was up 7.2% compared to the same quarter last year. Equities research analysts predict that The Hartford Financial Services Group, Inc. will post 10.07 earnings per share for the current year.

The Hartford Financial Services Group declared that its Board of Directors has authorized a share buyback program on Thursday, July 25th that permits the company to buyback $3.30 billion in outstanding shares. This buyback authorization permits the insurance provider to repurchase up to 10.9% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s management believes its shares are undervalued.

The Hartford Financial Services Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 2nd. Stockholders of record on Tuesday, September 3rd will be issued a $0.47 dividend. The ex-dividend date of this dividend is Tuesday, September 3rd. This represents a $1.88 dividend on an annualized basis and a dividend yield of 1.77%. The Hartford Financial Services Group’s dividend payout ratio (DPR) is presently 21.36%.

Insider Activity

In other news, EVP Jonathan R. Bennett sold 18,335 shares of The Hartford Financial Services Group stock in a transaction that occurred on Thursday, May 9th. The shares were sold at an average price of $100.78, for a total value of $1,847,801.30. Following the sale, the executive vice president now directly owns 25,643 shares in the company, valued at $2,584,301.54. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, EVP Jonathan R. Bennett sold 18,335 shares of the business’s stock in a transaction on Thursday, May 9th. The shares were sold at an average price of $100.78, for a total transaction of $1,847,801.30. Following the transaction, the executive vice president now directly owns 25,643 shares in the company, valued at $2,584,301.54. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP Michael R. Fisher sold 4,088 shares of the business’s stock in a transaction 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 $1,503,582.46. The disclosure for this sale can be found here. 1.60% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the stock. Wells Fargo & Company decreased their price objective on shares of The Hartford Financial Services Group from $117.00 to $111.00 and set an “overweight” rating on the stock in a report on Monday, April 29th. Citigroup lowered shares of The Hartford Financial Services Group from a “buy” rating to a “neutral” rating and reduced their target price for the company from $116.00 to $114.00 in a research note on Friday, June 28th. Argus raised shares of The Hartford Financial Services Group to a “strong-buy” rating in a research note on Friday, August 2nd. Bank of America reduced their price objective on shares of The Hartford Financial Services Group from $113.00 to $111.00 and set a “buy” rating on the stock in a research note on Thursday, July 11th. Finally, Royal Bank of Canada lifted their price objective on shares of The Hartford Financial Services Group from $105.00 to $115.00 and gave the stock a “sector perform” rating in a research note on Monday, July 29th. Eight research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $110.88.

About The Hartford Financial Services Group

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.