Strs Ohio Acquires 12,888 Shares of The Hartford Financial Services Group, Inc. (NYSE:HIG)

Posted by Defense World Staff on Jul 17th, 2023

Strs Ohio raised its holdings in The Hartford Financial Services Group, Inc. (NYSE:HIG – Free Report) by 11.2% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 128,156 shares of the insurance provider’s stock after acquiring an additional 12,888 shares during the quarter. Strs Ohio’s holdings in The Hartford Financial Services Group were worth $8,931,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently bought and sold shares of the business. Employees Retirement System of Texas grew its position in The Hartford Financial Services Group by 172.0% in the 1st quarter. Employees Retirement System of Texas now owns 476,000 shares of the insurance provider’s stock valued at $33,172,000 after acquiring an additional 301,000 shares during the last quarter. Lindbrook Capital LLC grew its position in The Hartford Financial Services Group by 28.8% in the 1st quarter. Lindbrook Capital LLC now owns 2,740 shares of the insurance provider’s stock valued at $191,000 after acquiring an additional 613 shares during the last quarter. Arlington Partners LLC bought a new position in The Hartford Financial Services Group in the 1st quarter valued at $27,000. MV Capital Management Inc. grew its position in shares of The Hartford Financial Services Group by 372.7% during the 1st quarter. MV Capital Management Inc. now owns 416 shares of the insurance provider’s stock worth $29,000 after buying an additional 328 shares in the last quarter. Finally, Harbor Capital Advisors Inc. bought a new position in shares of The Hartford Financial Services Group during the 1st quarter worth $351,000. Institutional investors own 90.24% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on HIG. Wells Fargo & Company increased their price target on The Hartford Financial Services Group from $90.00 to $91.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 5th. Jefferies Financial Group dropped their price target on The Hartford Financial Services Group from $78.00 to $77.00 in a research report on Monday, April 10th. Credit Suisse Group reissued an “outperform” rating and set a $104.00 price target on shares of The Hartford Financial Services Group in a research report on Monday, April 17th. Citigroup dropped their price target on The Hartford Financial Services Group from $92.00 to $85.00 in a research report on Tuesday, April 18th. Finally, Piper Sandler decreased their price objective on The Hartford Financial Services Group from $101.00 to $94.00 in a research note on Thursday, July 6th. Five equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $85.46.

The Hartford Financial Services Group Trading Down 2.7 %

The Hartford Financial Services Group stock opened at $70.50 on Monday. The stock has a 50-day moving average of $70.82 and a two-hundred day moving average of $72.36. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.32 and a current ratio of 0.32. The Hartford Financial Services Group, Inc. has a one year low of $60.17 and a one year high of $79.44. The stock has a market cap of $21.87 billion, a PE ratio of 12.13, a price-to-earnings-growth ratio of 1.29 and a beta of 0.85.

The Hartford Financial Services Group (NYSE:HIG – Get Free Report) last released its quarterly earnings results on Thursday, April 27th. The insurance provider reported $1.68 EPS for the quarter, meeting analysts’ consensus estimates of $1.68. The Hartford Financial Services Group had a return on equity of 18.45% and a net margin of 8.33%. The company had revenue of $5.91 billion during the quarter, compared to analysts’ expectations of $5.70 billion. During the same period last year, the business posted $1.66 earnings per share. The firm’s revenue was up 9.6% compared to the same quarter last year. On average, research analysts anticipate that The Hartford Financial Services Group, Inc. will post 7.84 EPS for the current fiscal year.

The Hartford Financial Services Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 5th. Shareholders of record on Thursday, June 1st were paid a $0.425 dividend. This represents a $1.70 dividend on an annualized basis and a yield of 2.41%. The ex-dividend date of this dividend was Wednesday, May 31st. The Hartford Financial Services Group’s dividend payout ratio (DPR) is presently 29.26%.

The Hartford Financial Services Group Profile

(Free Report)

The Hartford Financial Services Group, Inc 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, and reinsurance through regional offices, branches, sales and policyholder service centers, independent retail agents and brokers, wholesale agents, and reinsurance brokers.