The Hartford Financial Services Group, Inc. (NYSE:HIG) Shares Sold by Mn Services Vermogensbeheer B.V.

Mn Services Vermogensbeheer B.V. decreased its holdings in shares of The Hartford Financial Services Group, Inc. (NYSE:HIG) by 2.5% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 115,300 shares of the insurance provider’s stock after selling 2,900 shares during the period. Mn Services Vermogensbeheer B.V.’s holdings in The Hartford Financial Services Group were worth $13,560,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP increased its position in The Hartford Financial Services Group by 1.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 5,809,358 shares of the insurance provider’s stock worth $584,177,000 after purchasing an additional 69,007 shares during the period. AQR Capital Management LLC boosted its position in The Hartford Financial Services Group by 4.9% during the second quarter. AQR Capital Management LLC now owns 1,497,960 shares of the insurance provider’s stock worth $150,605,000 after purchasing an additional 70,018 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its holdings in The Hartford Financial Services Group by 2.4% in the second quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 1,367,400 shares of the insurance provider’s stock valued at $137,478,000 after purchasing an additional 31,806 shares during the last quarter. Bahl & Gaynor Inc. increased its position in shares of The Hartford Financial Services Group by 3.4% in the second quarter. Bahl & Gaynor Inc. now owns 1,229,133 shares of the insurance provider’s stock valued at $123,577,000 after buying an additional 40,400 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. raised its stake in shares of The Hartford Financial Services Group by 22.7% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 1,199,542 shares of the insurance provider’s stock worth $141,078,000 after buying an additional 221,778 shares during the last quarter. Institutional investors and hedge funds own 93.42% of the company’s stock.

The Hartford Financial Services Group Stock Performance

Shares of HIG stock opened at $111.16 on Tuesday. The Hartford Financial Services Group, Inc. has a one year low of $72.87 and a one year high of $123.23. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.32 and a current ratio of 0.32. The company has a 50 day moving average price of $116.30 and a 200 day moving average price of $107.60. The firm has a market capitalization of $32.22 billion, a price-to-earnings ratio of 11.14, a price-to-earnings-growth ratio of 0.90 and a beta of 0.94.

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

The Hartford Financial Services Group Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 3rd. Investors of record on Monday, December 2nd will be given a dividend of $0.52 per share. 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 1.87%. The Hartford Financial Services Group’s dividend payout ratio is 18.84%.

Analysts Set New Price Targets

Several research firms have weighed in on HIG. Piper Sandler raised their target price on shares of The Hartford Financial Services Group from $112.00 to $125.00 and gave the company an “overweight” rating in a report on Monday, July 29th. Argus upgraded shares of The Hartford Financial Services Group to a “strong-buy” rating in a report on Friday, August 2nd. Jefferies Financial Group raised their target price on shares of The Hartford Financial Services Group from $113.00 to $127.00 and gave the company a “hold” rating in a report on Wednesday, October 9th. JPMorgan Chase & Co. raised their target price on shares of The Hartford Financial Services Group from $122.00 to $125.00 and gave the company a “neutral” rating in a report on Friday, October 25th. Finally, Keefe, Bruyette & Woods lifted their price target on shares of The Hartford Financial Services Group from $133.00 to $135.00 and gave the stock an “outperform” rating in a report on Tuesday, October 29th. Ten investment 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’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $120.88.

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.