Encompass Wealth Advisors LLC Acquires New Position in The Hartford Financial Services Group, Inc. (NYSE:HIG)

Encompass Wealth Advisors LLC acquired a new stake in shares of The Hartford Financial Services Group, Inc. (NYSE:HIG) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 1,600 shares of the insurance provider’s stock, valued at approximately $78,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in HIG. Perigon Wealth Management LLC purchased a new position in The Hartford Financial Services Group during the fourth quarter valued at approximately $29,000. Accel Wealth Management acquired a new stake in shares of The Hartford Financial Services Group in the fourth quarter worth $31,000. DB Wealth Management Group LLC acquired a new stake in shares of The Hartford Financial Services Group in the fourth quarter worth $42,000. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA acquired a new stake in shares of The Hartford Financial Services Group in the fourth quarter worth $44,000. Finally, Charter Oak Capital Management LLC acquired a new stake in shares of The Hartford Financial Services Group in the fourth quarter worth $45,000. 90.48% of the stock is currently owned by hedge funds and other institutional investors.

Shares of The Hartford Financial Services Group stock opened at $68.15 on Thursday. The firm has a market capitalization of $24.35 billion, a PE ratio of 14.26, a price-to-earnings-growth ratio of 1.37 and a beta of 1.05. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.30 and a quick ratio of 0.30. The company’s fifty day moving average price is $58.76 and its two-hundred day moving average price is $48.31. The Hartford Financial Services Group, Inc. has a 52-week low of $30.26 and a 52-week high of $69.60.

The Hartford Financial Services Group (NYSE:HIG) last announced its quarterly earnings results on Thursday, February 4th. The insurance provider reported $1.76 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.33 by $0.43. The firm had revenue of $3.44 billion for the quarter, compared to analyst estimates of $3.37 billion. The Hartford Financial Services Group had a net margin of 8.50% and a return on equity of 12.19%. During the same quarter in the previous year, the firm posted $1.43 EPS. Analysts predict that The Hartford Financial Services Group, Inc. will post 5.31 earnings per share for the current fiscal year.

The Hartford Financial Services Group announced that its board has authorized a stock buyback program on Thursday, December 17th that permits the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization permits the insurance provider to buy up to 8.8% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s board believes its shares are undervalued.

The company also recently announced a quarterly dividend, which was paid on Friday, April 2nd. Stockholders of record on Monday, March 1st were issued a $0.35 dividend. This is a positive change from The Hartford Financial Services Group’s previous quarterly dividend of $0.33. The ex-dividend date was Friday, February 26th. This represents a $1.40 annualized dividend and a dividend yield of 2.05%. The Hartford Financial Services Group’s dividend payout ratio is presently 24.78%.

In other news, EVP Jonathan R. Bennett sold 1,865 shares of the company’s stock in a transaction dated Wednesday, March 31st. The shares were sold at an average price of $68.00, for a total value of $126,820.00. Following the sale, the executive vice president now owns 25,641 shares of the company’s stock, valued at approximately $1,743,588. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP William A. Bloom sold 33,019 shares of the company’s stock in a transaction dated Monday, March 29th. The stock was sold at an average price of $65.22, for a total transaction of $2,153,499.18. Following the completion of the sale, the executive vice president now directly owns 70,372 shares in the company, valued at approximately $4,589,661.84. The disclosure for this sale can be found here. In the last ninety days, insiders sold 183,332 shares of company stock worth $12,064,527. 1.70% of the stock is owned by insiders.

HIG has been the subject of a number of analyst reports. Credit Suisse Group upgraded shares of The Hartford Financial Services Group from a “neutral” rating to an “outperform” rating and boosted their price objective for the stock from $48.00 to $82.00 in a research note on Thursday, March 25th. Morgan Stanley upped their target price on shares of The Hartford Financial Services Group from $53.00 to $67.00 and gave the company an “overweight” rating in a research note on Tuesday, January 12th. Wells Fargo & Company reiterated a “buy” rating on shares of The Hartford Financial Services Group in a research note on Monday. Raymond James upped their target price on shares of The Hartford Financial Services Group from $60.00 to $75.00 and gave the company an “outperform” rating in a research note on Monday. Finally, JPMorgan Chase & Co. upgraded shares of The Hartford Financial Services Group from a “neutral” rating to an “overweight” rating and upped their target price for the company from $52.00 to $55.00 in a research note on Monday, January 4th. Three research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. The Hartford Financial Services Group presently has an average rating of “Buy” and an average target price of $65.69.

The Hartford Financial Services Group Company Profile

The Hartford Financial Services Group, Inc provides insurance and financial services to individual and business customers in the United States and internationally. Its Commercial Lines segment offers workers' compensation, property, automobile, liability, umbrella, bond, marine, livestock, and reinsurance products; and customized insurance products and risk management services, including professional liability, bond, surety, and specialty casualty coverages through regional offices, branches, sales and policyholder service centers, independent retail agents and brokers, wholesale agents, and reinsurance brokers.

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Institutional Ownership by Quarter for The Hartford Financial Services Group (NYSE:HIG)

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