Trustmark National Bank Trust Department Grows Position in The Hartford Financial Services Group, Inc. (NYSE:HIG)

Trustmark National Bank Trust Department increased its holdings in The Hartford Financial Services Group, Inc. (NYSE:HIG) by 4.7% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 42,118 shares of the insurance provider’s stock after purchasing an additional 1,893 shares during the period. Trustmark National Bank Trust Department’s holdings in The Hartford Financial Services Group were worth $4,953,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of the business. International Assets Investment Management LLC lifted its holdings in shares of The Hartford Financial Services Group by 31,680.4% in the 3rd quarter. International Assets Investment Management LLC now owns 694,084 shares of the insurance provider’s stock worth $816,310,000 after acquiring an additional 691,900 shares during the last quarter. Swedbank AB purchased a new position in shares of The Hartford Financial Services Group during the first quarter valued at approximately $53,980,000. Robeco Institutional Asset Management B.V. grew its stake in shares of The Hartford Financial Services Group by 22.7% during the third quarter. Robeco Institutional Asset Management B.V. now owns 1,199,542 shares of the insurance provider’s stock valued at $141,078,000 after buying an additional 221,778 shares during the last quarter. Lighthouse Investment Partners LLC lifted its stake in shares of The Hartford Financial Services Group by 237.1% during the 2nd quarter. Lighthouse Investment Partners LLC now owns 299,364 shares of the insurance provider’s stock worth $30,098,000 after acquiring an additional 210,546 shares during the last quarter. Finally, Achmea Investment Management B.V. boosted its holdings in The Hartford Financial Services Group by 168.8% during the 2nd quarter. Achmea Investment Management B.V. now owns 235,392 shares of the insurance provider’s stock valued at $23,666,000 after acquiring an additional 147,823 shares during the period. Institutional investors own 93.42% of the company’s stock.

Insider Buying and Selling

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 completion of the sale, the executive vice president now owns 25,820 shares of the company’s stock, valued at approximately $3,021,972.80. The trade was a 21.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.60% of the stock is owned by company insiders.

The Hartford Financial Services Group Stock Up 1.2 %

Shares of HIG stock opened at $118.19 on Thursday. The stock’s fifty day moving average price is $116.62 and its 200 day moving average price is $109.10. The Hartford Financial Services Group, Inc. has a 1-year low of $76.25 and a 1-year high of $123.23. The company has a market cap of $34.26 billion, a price-to-earnings ratio of 11.84, a price-to-earnings-growth ratio of 0.96 and a beta of 0.94. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.32 and a quick ratio of 0.32.

The Hartford Financial Services Group announced that its Board of Directors has approved a share buyback plan on Thursday, July 25th that permits the company to repurchase $3.30 billion in outstanding shares. This repurchase authorization permits the insurance provider to buy up to 10.9% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.

The Hartford Financial Services Group Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 3rd. Stockholders of record on Monday, December 2nd will be issued a dividend of $0.52 per share. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $2.08 annualized dividend and a dividend yield of 1.76%. This is an increase from The Hartford Financial Services Group’s previous quarterly dividend of $0.47. The Hartford Financial Services Group’s dividend payout ratio is 18.84%.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. Piper Sandler boosted 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 research note on Monday, July 29th. Wells Fargo & Company raised their target price on shares of The Hartford Financial Services Group from $122.00 to $134.00 and gave the stock an “overweight” rating in a research report on Tuesday, September 17th. Keefe, Bruyette & Woods increased their price objective on The Hartford Financial Services Group from $133.00 to $135.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 29th. Argus upgraded The Hartford Financial Services Group to a “strong-buy” rating in a report on Friday, August 2nd. Finally, StockNews.com upgraded The Hartford Financial Services Group from a “hold” rating to a “buy” rating in a report on Friday, November 15th. Nine research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, The Hartford Financial Services Group presently has an average rating of “Moderate Buy” and a consensus price target of $120.88.

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.