PDS Planning Inc Grows Stock Holdings in The Hartford Financial Services Group, Inc. (NYSE:HIG)

PDS Planning Inc increased its position in shares of The Hartford Financial Services Group, Inc. (NYSE:HIG) by 31.1% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 3,004 shares of the insurance provider’s stock after buying an additional 712 shares during the quarter. PDS Planning Inc’s holdings in The Hartford Financial Services Group were worth $353,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the business. New Covenant Trust Company N.A. acquired a new stake in shares of The Hartford Financial Services Group in the first quarter valued at $26,000. DT Investment Partners LLC acquired a new position in shares of The Hartford Financial Services Group in the 3rd quarter valued at $26,000. Quest Partners LLC increased its position in shares of The Hartford Financial Services Group by 2,750.0% during the second quarter. Quest Partners LLC now owns 285 shares of the insurance provider’s stock worth $29,000 after purchasing an additional 275 shares in the last quarter. Bank & Trust Co acquired a new position in The Hartford Financial Services Group during the second quarter worth approximately $30,000. Finally, Family Firm Inc. purchased a new stake in The Hartford Financial Services Group in the 2nd quarter valued at $31,000. Institutional investors and hedge funds own 93.42% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently weighed in on HIG. UBS Group lifted 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 report on Tuesday, October 15th. Wells Fargo & Company raised their price target on 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. Piper Sandler raised their target price on shares of The Hartford Financial Services Group from $112.00 to $125.00 and gave the stock an “overweight” rating in a research report on Monday, July 29th. Keefe, Bruyette & Woods lifted their target price on shares of 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. Finally, JPMorgan Chase & Co. lifted their price objective on 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. Ten investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $120.88.

The Hartford Financial Services Group Price Performance

NYSE HIG opened at $111.16 on Tuesday. 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 company has a market cap of $32.22 billion, a PE ratio of 11.14, a PEG ratio of 0.90 and a beta of 0.94. The Hartford Financial Services Group, Inc. has a 1 year low of $72.87 and a 1 year high of $123.23. The stock’s 50-day moving average price is $116.30 and its two-hundred day moving average price is $107.60.

The Hartford Financial Services Group Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 3rd. Stockholders of record on Monday, December 2nd will be given a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 1.87%. 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. The Hartford Financial Services Group’s dividend payout ratio (DPR) is 18.84%.

The Hartford Financial Services Group declared that its Board of Directors has approved a share buyback plan on Thursday, July 25th that authorizes the company to buyback $3.30 billion in outstanding shares. This buyback authorization authorizes the insurance provider to repurchase 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.

About The Hartford Financial Services Group

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.