Ashton Thomas Private Wealth LLC Acquires Shares of 1,585 The Hartford Financial Services Group, Inc. (NYSE:HIG)

Ashton Thomas Private Wealth LLC purchased a new stake in The Hartford Financial Services Group, Inc. (NYSE:HIG) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 1,585 shares of the insurance provider’s stock, valued at approximately $159,000.

Other institutional investors also recently modified their holdings of the company. Bailard Inc. raised its position in The Hartford Financial Services Group by 0.5% in the second quarter. Bailard Inc. now owns 19,378 shares of the insurance provider’s stock valued at $1,948,000 after purchasing an additional 101 shares during the last quarter. Dorsey & Whitney Trust CO LLC increased its position in The Hartford Financial Services Group by 3.1% in the 1st quarter. Dorsey & Whitney Trust CO LLC now owns 3,736 shares of the insurance provider’s stock valued at $385,000 after acquiring an additional 114 shares during the period. Covestor Ltd raised its stake in shares of The Hartford Financial Services Group by 28.8% during the first quarter. Covestor Ltd now owns 519 shares of the insurance provider’s stock valued at $54,000 after acquiring an additional 116 shares during the last quarter. EverSource Wealth Advisors LLC grew its stake in shares of The Hartford Financial Services Group by 34.4% in the first quarter. EverSource Wealth Advisors LLC now owns 473 shares of the insurance provider’s stock worth $46,000 after purchasing an additional 121 shares during the last quarter. Finally, Avantax Advisory Services Inc. increased its holdings in The Hartford Financial Services Group by 2.8% in the first quarter. Avantax Advisory Services Inc. now owns 4,543 shares of the insurance provider’s stock valued at $468,000 after purchasing an additional 122 shares during the period. Institutional investors and hedge funds own 93.42% of the company’s stock.

The Hartford Financial Services Group Stock Up 1.0 %

HIG stock opened at $115.16 on Friday. The firm has a market capitalization of $34.06 billion, a PE ratio of 13.09, a P/E/G ratio of 0.92 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, Inc. has a twelve month low of $68.82 and a twelve month high of $117.68. The stock’s 50 day moving average is $108.68 and its 200-day moving average is $102.96.

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, topping analysts’ consensus estimates of $2.24 by $0.26. The firm had revenue of $6.49 billion for the quarter, compared to the consensus estimate of $6.02 billion. The Hartford Financial Services Group had a net margin of 11.44% and a return on equity of 21.20%. The business’s revenue for the quarter was up 7.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.88 EPS. Sell-side 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 authorized a stock 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 purchase up to 10.9% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s management believes its shares are undervalued.

The Hartford Financial Services Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 2nd. Shareholders of record on Tuesday, September 3rd will be given a dividend of $0.47 per share. The ex-dividend date of this dividend is Tuesday, September 3rd. This represents a $1.88 annualized dividend and a dividend yield of 1.63%. The Hartford Financial Services Group’s dividend payout ratio is currently 21.36%.

Insider Activity at The Hartford Financial Services Group

In other news, EVP Michael R. Fisher sold 4,088 shares of The Hartford Financial Services Group 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 sale, the executive vice president now directly 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 is available at the SEC website. 1.60% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on HIG. JPMorgan Chase & Co. increased their price target on The Hartford Financial Services Group from $104.00 to $116.00 and gave the company a “neutral” rating in a research note on Thursday, July 11th. Keefe, Bruyette & Woods boosted their price target on shares of The Hartford Financial Services Group from $120.00 to $133.00 and gave the stock an “outperform” rating in a research report on Thursday, August 1st. The Goldman Sachs Group upped 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 research note on Thursday, June 13th. Argus upgraded shares of The Hartford Financial Services Group to a “strong-buy” rating in a report on Friday, August 2nd. Finally, Morgan Stanley lowered their price objective on The Hartford Financial Services Group from $109.00 to $107.00 and set an “equal weight” rating for the company in a research report on Wednesday, July 10th. Nine investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, The Hartford Financial Services Group presently has an average rating of “Moderate Buy” and an average target price of $111.94.

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.