Whittier Trust Co. Boosts Holdings in The Hartford Financial Services Group, Inc. (NYSE:HIG)

Whittier Trust Co. increased its position in The Hartford Financial Services Group, Inc. (NYSE:HIG) by 5.2% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,655 shares of the insurance provider’s stock after purchasing an additional 180 shares during the quarter. Whittier Trust Co.’s holdings in The Hartford Financial Services Group were worth $430,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. New Covenant Trust Company N.A. purchased a new position in The Hartford Financial Services Group in the 1st quarter valued at about $26,000. 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 during the last quarter. Bank & Trust Co acquired a new position in shares of The Hartford Financial Services Group in the 2nd quarter valued at approximately $30,000. Family Firm Inc. purchased a new position in shares of The Hartford Financial Services Group during the 2nd quarter valued at approximately $31,000. Finally, Clean Yield Group acquired a new stake in shares of The Hartford Financial Services Group during the third quarter worth approximately $33,000. 93.42% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the stock. Piper Sandler increased their price objective on shares of The Hartford Financial Services Group from $112.00 to $125.00 and gave the company an “overweight” rating in a research note on Monday, July 29th. Morgan Stanley reduced their price target on shares of The Hartford Financial Services Group from $109.00 to $107.00 and set an “equal weight” rating on the stock in a research report on Wednesday, July 10th. UBS Group boosted their price objective on The Hartford Financial Services Group from $134.00 to $135.00 and gave the company a “buy” rating in a report on Tuesday, October 15th. Bank of America increased their target price on The Hartford Financial Services Group from $121.00 to $124.00 and gave the stock a “neutral” rating in a report on Thursday, October 10th. Finally, Barclays started coverage on The Hartford Financial Services Group in a report on Wednesday, September 4th. They issued an “equal weight” rating and a $130.00 price target for the company. Ten analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $120.59.

The Hartford Financial Services Group Trading Down 0.2 %

The Hartford Financial Services Group stock opened at $119.85 on Thursday. The firm has a 50-day moving average price of $116.06 and a two-hundred day moving average price of $106.71. The Hartford Financial Services Group, Inc. has a 52-week low of $68.92 and a 52-week high of $123.23. The firm has a market capitalization of $35.45 billion, a price-to-earnings ratio of 13.62, a PEG ratio of 0.96 and a beta of 0.93. The company has a quick ratio of 0.32, a current ratio of 0.32 and a debt-to-equity ratio of 0.28.

The Hartford Financial Services Group (NYSE:HIG) last issued its quarterly earnings data on Thursday, July 25th. The insurance provider reported $2.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.24 by $0.26. The business had revenue of $6.49 billion during the quarter, compared to analyst estimates 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 business’s revenue for the quarter was up 7.2% compared to the same quarter last year. During the same period in the prior year, the company posted $1.88 EPS. Sell-side 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 declared that its Board of Directors has approved a share repurchase plan on Thursday, July 25th that allows the company to buyback $3.30 billion in outstanding shares. This buyback authorization allows the insurance provider to purchase up to 10.9% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s board 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.