The Hartford Financial Services Group, Inc. (NYSE:HIG) Shares Sold by Victory Capital Management Inc.

Victory Capital Management Inc. cut its stake in shares of The Hartford Financial Services Group, Inc. (NYSE:HIG) by 9.9% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,499,188 shares of the insurance provider’s stock after selling 496,062 shares during the quarter. The Hartford Financial Services Group comprises approximately 0.5% of Victory Capital Management Inc.’s investment portfolio, making the stock its 21st biggest holding. Victory Capital Management Inc. owned 1.55% of The Hartford Financial Services Group worth $529,150,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of HIG. Trust Co. of Vermont increased its holdings in shares of The Hartford Financial Services Group by 27.9% during the 3rd quarter. Trust Co. of Vermont now owns 403 shares of the insurance provider’s stock valued at $47,000 after purchasing an additional 88 shares in the last quarter. Bailard Inc. raised its position in shares of The Hartford Financial Services Group by 0.5% in the second quarter. Bailard Inc. now owns 19,378 shares of the insurance provider’s stock worth $1,948,000 after acquiring an additional 101 shares during the period. Catalina Capital Group LLC boosted its stake in shares of The Hartford Financial Services Group by 4.3% during the 3rd quarter. Catalina Capital Group LLC now owns 2,488 shares of the insurance provider’s stock worth $293,000 after acquiring an additional 102 shares in the last quarter. Dorsey & Whitney Trust CO LLC increased its stake in shares of The Hartford Financial Services Group by 3.1% in the 1st quarter. Dorsey & Whitney Trust CO LLC now owns 3,736 shares of the insurance provider’s stock valued at $385,000 after purchasing an additional 114 shares in the last quarter. Finally, Tectonic Advisors LLC raised its holdings in The Hartford Financial Services Group by 2.6% in the 3rd quarter. Tectonic Advisors LLC now owns 4,566 shares of the insurance provider’s stock worth $537,000 after purchasing an additional 114 shares during the period. 93.42% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. StockNews.com cut The Hartford Financial Services Group from a “buy” rating to a “hold” rating in a research report on Thursday, November 7th. Argus upgraded shares of The Hartford Financial Services Group to a “strong-buy” rating in a research report on Friday, August 2nd. Jefferies Financial Group lifted 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 research report on Wednesday, October 9th. JPMorgan Chase & Co. upped their price target on shares of The Hartford Financial Services Group from $122.00 to $125.00 and gave the stock a “neutral” rating in a research report on Friday, October 25th. Finally, Keefe, Bruyette & Woods lifted their price objective on 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. Eleven research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, The Hartford Financial Services Group presently has a consensus rating of “Hold” and a consensus target price of $120.88.

The Hartford Financial Services Group Stock Up 0.4 %

Shares of The Hartford Financial Services Group stock traded up $0.47 during trading hours on Tuesday, reaching $118.17. 189,074 shares of the company were exchanged, compared to its average volume of 1,598,504. The Hartford Financial Services Group, Inc. has a 1 year low of $73.92 and a 1 year high of $123.23. The firm has a market cap of $34.26 billion, a PE ratio of 11.79, a PEG ratio of 0.96 and a beta of 0.94. 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 stock’s fifty day moving average is $116.35 and its 200 day moving average is $108.17.

The Hartford Financial Services Group Increases Dividend

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

The Hartford Financial Services Group announced that its board has initiated a stock buyback program on Thursday, July 25th that permits the company to buyback $3.30 billion in shares. This buyback authorization permits the insurance provider to repurchase up to 10.9% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s management believes its shares are undervalued.

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.