Kowal Investment Group LLC Raises Stock Position in The Hartford Financial Services Group, Inc. (NYSE:HIG)

Kowal Investment Group LLC increased its stake in shares of The Hartford Financial Services Group, Inc. (NYSE:HIG) by 18.6% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 3,374 shares of the insurance provider’s stock after purchasing an additional 529 shares during the quarter. Kowal Investment Group LLC’s holdings in The Hartford Financial Services Group were worth $397,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. New Covenant Trust Company N.A. bought a new position in The Hartford Financial Services Group in the first quarter worth approximately $26,000. Quest Partners LLC lifted its holdings in shares of The Hartford Financial Services Group by 2,750.0% during the second 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 period. Bank & Trust Co purchased a new stake in shares of The Hartford Financial Services Group in the 2nd quarter valued at $30,000. Family Firm Inc. acquired a new stake in The Hartford Financial Services Group during the 2nd quarter worth about $31,000. Finally, Clean Yield Group purchased a new position in The Hartford Financial Services Group during the third quarter valued at approximately $33,000. Hedge funds and other institutional investors own 93.42% of the company’s stock.

The Hartford Financial Services Group Price Performance

Shares of NYSE:HIG opened at $119.62 on Thursday. The Hartford Financial Services Group, Inc. has a 52 week low of $68.92 and a 52 week high of $120.36. The firm has a market capitalization of $35.38 billion, a P/E ratio of 13.59, a PEG ratio of 0.96 and a beta of 0.93. The firm’s 50 day moving average is $114.76 and its two-hundred day moving average is $106.06. 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 quarterly earnings data on Thursday, July 25th. The insurance provider reported $2.50 earnings per share for the quarter, beating the consensus estimate 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 company’s revenue was up 7.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.88 earnings per share. Analysts anticipate that The Hartford Financial Services Group, Inc. will post 10.09 earnings per share for the current year.

The Hartford Financial Services Group announced that its board has approved a stock buyback program on Thursday, July 25th that allows the company to repurchase $3.30 billion in shares. This repurchase authorization allows the insurance provider to purchase up to 10.9% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s leadership believes its stock is undervalued.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the company. Argus upgraded The Hartford Financial Services Group to a “strong-buy” rating in a report on Friday, August 2nd. Morgan Stanley reduced their target price on 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. 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 price objective on the stock. Royal Bank of Canada raised 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 report on Monday, July 29th. Finally, Jefferies Financial Group raised their price target on shares of The Hartford Financial Services Group from $113.00 to $127.00 and gave the company a “hold” rating in a research report on Wednesday, October 9th. Ten equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, The Hartford Financial Services Group presently has a consensus rating of “Moderate Buy” and an average target price of $120.59.

The Hartford Financial Services Group Company 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.