6,023 Shares in The Hartford Financial Services Group, Inc. (NYSE:HIG) Acquired by Strategy Asset Managers LLC

Strategy Asset Managers LLC purchased a new stake in shares of The Hartford Financial Services Group, Inc. (NYSE:HIG) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 6,023 shares of the insurance provider’s stock, valued at approximately $708,000.

Other institutional investors also recently modified their holdings of the company. New Covenant Trust Company N.A. bought a new position in The Hartford Financial Services Group during the first quarter worth $26,000. DT Investment Partners LLC acquired a new stake in The Hartford Financial Services Group in the 3rd quarter worth $26,000. Quest Partners LLC increased its holdings in shares of The Hartford Financial Services Group by 2,750.0% during the 2nd 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 acquired a new position in shares of The Hartford Financial Services Group during the second quarter valued at about $30,000. Finally, Family Firm Inc. acquired a new position in shares of The Hartford Financial Services Group during the second quarter valued at about $31,000. Institutional investors own 93.42% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently issued reports on HIG. Keefe, Bruyette & Woods boosted their price objective on The Hartford Financial Services Group from $133.00 to $135.00 and gave the company an “outperform” rating in a research report on Tuesday, October 29th. Bank of America boosted their price target on shares of The Hartford Financial Services Group from $121.00 to $124.00 and gave the company a “neutral” rating in a report on Thursday, October 10th. UBS Group increased their price objective on shares of The Hartford Financial Services Group from $134.00 to $135.00 and gave the company a “buy” rating in a research note on Tuesday, October 15th. JPMorgan Chase & Co. lifted 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 research report on Friday, October 25th. Finally, Barclays began coverage on shares of The Hartford Financial Services Group in a research report on Wednesday, September 4th. They issued an “equal weight” rating and a $130.00 price target for the company. Nine investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, The Hartford Financial Services Group currently has an average rating of “Moderate Buy” and a consensus target price of $120.88.

The Hartford Financial Services Group Price Performance

Shares of HIG opened at $118.19 on Thursday. The stock has a market cap of $34.26 billion, a P/E ratio of 11.84, a price-to-earnings-growth ratio of 0.97 and a beta of 0.94. The Hartford Financial Services Group, Inc. has a 1 year low of $76.25 and a 1 year high of $123.23. The stock’s 50-day moving average price is $116.62 and its two-hundred day moving average price is $109.10. The company has a current ratio of 0.32, a quick ratio of 0.32 and a debt-to-equity ratio of 0.26.

The Hartford Financial Services Group Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 3rd. Investors of record on Monday, December 2nd will be issued a dividend of $0.52 per share. The ex-dividend date is Monday, December 2nd. This represents a $2.08 dividend on an annualized basis and a yield of 1.76%. This is a boost from The Hartford Financial Services Group’s previous quarterly dividend of $0.47. The Hartford Financial Services Group’s payout ratio is currently 20.84%.

The Hartford Financial Services Group announced that its board has approved a stock 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 purchase up to 10.9% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s management believes its stock is undervalued.

Insider Buying and Selling at The Hartford Financial Services Group

In other The Hartford Financial Services Group news, EVP Adin M. Tooker sold 6,865 shares of The Hartford Financial Services Group stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $117.04, for a total transaction of $803,479.60. Following the transaction, the executive vice president now directly owns 25,820 shares in the company, valued at approximately $3,021,972.80. The trade was a 21.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 1.60% of the company’s stock.

The Hartford Financial Services Group 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.