Sustainable Insight Capital Management LLC Has $3.22 Million Stake in The Hartford Financial Services Group, Inc. (NYSE:HIG)

Sustainable Insight Capital Management LLC reduced its holdings in The Hartford Financial Services Group, Inc. (NYSE:HIG) by 19.6% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 27,400 shares of the insurance provider’s stock after selling 6,700 shares during the period. The Hartford Financial Services Group makes up about 1.5% of Sustainable Insight Capital Management LLC’s investment portfolio, making the stock its 29th biggest position. Sustainable Insight Capital Management LLC’s holdings in The Hartford Financial Services Group were worth $3,223,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Verus Financial Partners Inc. acquired a new position in shares of The Hartford Financial Services Group in the 3rd quarter valued at $205,000. Applied Finance Capital Management LLC increased its holdings in The Hartford Financial Services Group by 414.2% in the third quarter. Applied Finance Capital Management LLC now owns 32,114 shares of the insurance provider’s stock valued at $3,777,000 after purchasing an additional 25,868 shares during the last quarter. Source Financial Advisors LLC acquired a new position in The Hartford Financial Services Group in the third quarter valued at about $223,000. JB Capital LLC acquired a new position in The Hartford Financial Services Group in the third quarter valued at about $704,000. Finally, Principal Financial Group Inc. boosted its holdings in The Hartford Financial Services Group by 1.9% during the third quarter. Principal Financial Group Inc. now owns 353,873 shares of the insurance provider’s stock worth $41,619,000 after buying an additional 6,605 shares during the last quarter. 93.42% of the stock is owned by institutional investors.

The Hartford Financial Services Group Price Performance

NYSE HIG opened at $117.43 on Friday. The Hartford Financial Services Group, Inc. has a 12-month low of $73.12 and a 12-month high of $123.23. The firm’s 50 day moving average is $116.31 and its 200-day moving average is $107.92. The company has a market capitalization of $34.04 billion, a PE ratio of 11.77, a price-to-earnings-growth ratio of 0.96 and a beta of 0.94. The company has a quick ratio of 0.32, a current ratio of 0.32 and a debt-to-equity ratio of 0.26.

The Hartford Financial Services Group Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 3rd. Shareholders of record on Monday, December 2nd will be given a dividend of $0.52 per share. The ex-dividend date of this dividend is Monday, December 2nd. This is a boost from The Hartford Financial Services Group’s previous quarterly dividend of $0.47. This represents a $2.08 annualized dividend and a yield of 1.77%. The Hartford Financial Services Group’s payout ratio is 18.84%.

The Hartford Financial Services Group announced that its board has initiated a share repurchase plan on Thursday, July 25th that authorizes the company to repurchase $3.30 billion in outstanding shares. This repurchase authorization authorizes the insurance provider to buy up to 10.9% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s board believes its shares are undervalued.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on HIG shares. Jefferies Financial Group increased 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. UBS Group lifted their price target on shares of The Hartford Financial Services Group from $134.00 to $135.00 and gave the stock a “buy” rating in a research report on Tuesday, October 15th. Piper Sandler boosted their price target 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 raised The Hartford Financial Services Group to a “strong-buy” rating in a research note on Friday, August 2nd. Finally, Royal Bank of Canada boosted 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 note on Monday, July 29th. Eleven investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average 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.