CENTRAL TRUST Co Has $68,000 Stake in The Hartford Financial Services Group, Inc. (NYSE:HIG)

CENTRAL TRUST Co lessened its holdings in shares of The Hartford Financial Services Group, Inc. (NYSE:HIG) by 23.0% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 575 shares of the insurance provider’s stock after selling 172 shares during the period. CENTRAL TRUST Co’s holdings in The Hartford Financial Services Group were worth $68,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Wealthcare Advisory Partners LLC bought a new position in The Hartford Financial Services Group during the 1st quarter worth $274,000. LVW Advisors LLC raised its stake in The Hartford Financial Services Group by 12.1% in the first quarter. LVW Advisors LLC now owns 4,996 shares of the insurance provider’s stock valued at $515,000 after purchasing an additional 539 shares in the last quarter. Kowal Investment Group LLC bought a new stake in The Hartford Financial Services Group during the first quarter worth about $250,000. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH grew its stake in The Hartford Financial Services Group by 75.8% during the first quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH now owns 62,871 shares of the insurance provider’s stock worth $6,479,000 after buying an additional 27,101 shares in the last quarter. Finally, MV Capital Management Inc. increased its holdings in The Hartford Financial Services Group by 43.8% in the 1st quarter. MV Capital Management Inc. now owns 2,036 shares of the insurance provider’s stock valued at $210,000 after buying an additional 620 shares during the period. 93.42% of the stock is owned by institutional investors.

The Hartford Financial Services Group Stock Performance

HIG opened at $112.26 on Monday. The Hartford Financial Services Group, Inc. has a 1-year low of $68.92 and a 1-year high of $123.23. The company has a market cap of $33.20 billion, a price-to-earnings ratio of 12.76, a PEG ratio of 0.99 and a beta of 0.93. The company’s fifty day moving average price is $116.31 and its two-hundred day moving average price is $106.98. 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 (NYSE:HIG) last announced its earnings results on Thursday, July 25th. The insurance provider reported $2.50 earnings per share (EPS) for the quarter, beating 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 company had revenue of $6.49 billion for the quarter, compared to analysts’ expectations of $6.02 billion. During the same quarter in the previous year, the firm earned $1.88 earnings per share. The Hartford Financial Services Group’s quarterly revenue was up 7.2% on a year-over-year basis. On average, analysts expect that The Hartford Financial Services Group, Inc. will post 10.02 EPS for the current fiscal year.

The Hartford Financial Services Group Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 3rd. Shareholders of record on Monday, December 2nd will be paid a $0.52 dividend. This is a positive change from The Hartford Financial Services Group’s previous quarterly dividend of $0.47. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $2.08 annualized dividend and a yield of 1.85%. The Hartford Financial Services Group’s dividend payout ratio (DPR) is 23.64%.

The Hartford Financial Services Group announced that its board has approved a share buyback program 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 stock through open market purchases. Stock buyback programs are generally a sign that the company’s board of directors believes its stock is undervalued.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. UBS Group upped their target price on The Hartford Financial Services Group from $134.00 to $135.00 and gave the stock a “buy” rating in a research note on Tuesday, October 15th. Royal Bank of Canada lifted their target price on The Hartford Financial Services Group from $105.00 to $115.00 and gave the company a “sector perform” rating in a research report on Monday, July 29th. Barclays started coverage on shares of The Hartford Financial Services Group in a report on Wednesday, September 4th. They issued an “equal weight” rating and a $130.00 target price for the company. Bank of America lifted 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 report on Thursday, October 10th. Finally, Argus raised The Hartford Financial Services Group to a “strong-buy” rating in a report on Friday, August 2nd. Ten analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price 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.