Mutual of America Capital Management LLC Trims Stake in The Hartford Financial Services Group, Inc. (NYSE:HIG)

Mutual of America Capital Management LLC lessened its position in The Hartford Financial Services Group, Inc. (NYSE:HIG) by 3.7% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 78,595 shares of the insurance provider’s stock after selling 2,982 shares during the quarter. Mutual of America Capital Management LLC’s holdings in The Hartford Financial Services Group were worth $9,244,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Trust Co. of Vermont boosted its stake in shares of The Hartford Financial Services Group by 27.9% in the 3rd quarter. Trust Co. of Vermont now owns 403 shares of the insurance provider’s stock worth $47,000 after buying an additional 88 shares during the last quarter. Bailard Inc. lifted its holdings in 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 valued at $1,948,000 after acquiring an additional 101 shares during the period. Catalina Capital Group LLC boosted its position in The Hartford Financial Services Group by 4.3% in the third quarter. Catalina Capital Group LLC now owns 2,488 shares of the insurance provider’s stock worth $293,000 after purchasing an additional 102 shares during the last quarter. Tectonic Advisors LLC grew its stake in shares of The Hartford Financial Services Group by 2.6% during the 3rd quarter. Tectonic Advisors LLC now owns 4,566 shares of the insurance provider’s stock valued at $537,000 after purchasing an additional 114 shares during the period. Finally, Covestor Ltd grew its stake in shares of The Hartford Financial Services Group by 28.8% during the 1st quarter. Covestor Ltd now owns 519 shares of the insurance provider’s stock valued at $54,000 after purchasing an additional 116 shares during the period. 93.42% of the stock is currently owned by institutional investors.

The Hartford Financial Services Group Stock Up 1.3 %

NYSE HIG opened at $117.95 on Monday. The Hartford Financial Services Group, Inc. has a 12 month low of $75.36 and a 12 month high of $123.23. 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 stock has a market cap of $34.19 billion, a PE ratio of 11.82, a P/E/G ratio of 0.97 and a beta of 0.94. The stock’s 50 day moving average is $116.51 and its 200 day moving average is $108.75.

The Hartford Financial Services Group Increases Dividend

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

The Hartford Financial Services Group declared that its board has authorized a stock buyback plan on Thursday, July 25th that authorizes the company to buyback $3.30 billion in shares. This buyback authorization authorizes the insurance provider to purchase up to 10.9% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s board believes its stock is undervalued.

Wall Street Analysts Forecast Growth

HIG has been the topic of a number of research reports. UBS Group raised their price objective on shares of The Hartford Financial Services Group from $134.00 to $135.00 and gave the stock a “buy” rating in a report on Tuesday, October 15th. Bank of America lifted their price target on shares of The Hartford Financial Services Group from $121.00 to $124.00 and gave the stock a “neutral” rating in a research note on Thursday, October 10th. StockNews.com raised shares of The Hartford Financial Services Group from a “hold” rating to a “buy” rating in a research report on Friday. Royal Bank of Canada raised their target price on The Hartford Financial Services Group from $105.00 to $115.00 and gave the stock a “sector perform” rating in a report on Monday, July 29th. Finally, Argus raised The Hartford Financial Services Group to a “strong-buy” rating in a report on Friday, August 2nd. Nine 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. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price 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.