Amalgamated Bank Has $6.79 Million Stock Holdings in The Hartford Financial Services Group, Inc. (NYSE:HIG)

Amalgamated Bank lowered its holdings in shares of The Hartford Financial Services Group, Inc. (NYSE:HIG) by 3.9% in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 57,701 shares of the insurance provider’s stock after selling 2,315 shares during the period. Amalgamated Bank’s holdings in The Hartford Financial Services Group were worth $6,786,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also bought and sold shares of the company. International Assets Investment Management LLC lifted its holdings in The Hartford Financial Services Group by 31,680.4% in the third quarter. International Assets Investment Management LLC now owns 694,084 shares of the insurance provider’s stock valued at $816,310,000 after buying an additional 691,900 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its holdings in shares of The Hartford Financial Services Group by 72.0% during the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 1,335,594 shares of the insurance provider’s stock valued at $137,633,000 after acquiring an additional 559,019 shares in the last quarter. Swedbank AB acquired a new position in shares of The Hartford Financial Services Group during the first quarter worth approximately $53,980,000. Healthcare of Ontario Pension Plan Trust Fund lifted its holdings in shares of The Hartford Financial Services Group by 301.2% in the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 333,000 shares of the insurance provider’s stock worth $34,316,000 after purchasing an additional 250,000 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. grew its position in The Hartford Financial Services Group by 22.7% in the 3rd 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 purchasing an additional 221,778 shares during the period. Institutional investors and hedge funds own 93.42% of the company’s stock.

The Hartford Financial Services Group Price Performance

Shares of NYSE HIG opened at $116.72 on Thursday. 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 fifty day simple moving average of $116.31 and a two-hundred day simple moving average of $107.75. The Hartford Financial Services Group, Inc. has a 1-year low of $72.87 and a 1-year high of $123.23. The firm has a market cap of $33.84 billion, a price-to-earnings ratio of 11.70, a price-to-earnings-growth ratio of 0.91 and a beta of 0.94.

The Hartford Financial Services Group declared that its board has authorized a stock repurchase program on Thursday, July 25th that allows the company to repurchase $3.30 billion in shares. This repurchase authorization allows the insurance provider to buy up to 10.9% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s leadership believes its shares are undervalued.

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 $0.52 dividend. The ex-dividend date is Monday, December 2nd. This represents a $2.08 annualized dividend and a yield of 1.78%. This is a positive change 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%.

Analysts Set New Price Targets

Several research firms have weighed in on HIG. Wells Fargo & Company upped their price objective on shares of The Hartford Financial Services Group from $122.00 to $134.00 and gave the stock an “overweight” rating in a report on Tuesday, September 17th. Barclays assumed 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 on the stock. Argus raised The Hartford Financial Services Group to a “strong-buy” rating in a report on Friday, August 2nd. Bank of America raised their target price on 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. Finally, Jefferies Financial Group increased their price target on 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. Ten equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus 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.