Tyler Stone Wealth Management Raises Stock Holdings in The Hartford Financial Services Group, Inc. (NYSE:HIG)

Tyler Stone Wealth Management boosted its stake in The Hartford Financial Services Group, Inc. (NYSE:HIG) by 241.0% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,879 shares of the insurance provider’s stock after purchasing an additional 1,328 shares during the quarter. Tyler Stone Wealth Management’s holdings in The Hartford Financial Services Group were worth $221,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also bought and sold shares of the company. Concurrent Investment Advisors LLC bought a new stake in shares of The Hartford Financial Services Group during the 2nd quarter worth $213,000. Sei Investments Co. lifted its stake in The Hartford Financial Services Group by 5.6% during the first quarter. Sei Investments Co. now owns 229,305 shares of the insurance provider’s stock worth $23,629,000 after purchasing an additional 12,067 shares during the last quarter. Skandinaviska Enskilda Banken AB publ boosted its holdings in shares of The Hartford Financial Services Group by 27.6% in the 2nd quarter. Skandinaviska Enskilda Banken AB publ now owns 221,896 shares of the insurance provider’s stock worth $22,309,000 after purchasing an additional 48,004 shares in the last quarter. Twin Tree Management LP bought a new position in shares of The Hartford Financial Services Group during the 1st quarter valued at about $3,133,000. Finally, State Board of Administration of Florida Retirement System raised its holdings in shares of The Hartford Financial Services Group by 6.1% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 421,431 shares of the insurance provider’s stock valued at $43,428,000 after buying an additional 24,326 shares in the last quarter. 93.42% of the stock is currently owned by institutional investors.

The Hartford Financial Services Group Trading Up 0.2 %

NYSE:HIG opened at $117.70 on Tuesday. The company has a 50-day moving average price of $116.31 and a 200-day moving average price of $108.03. The stock has a market cap of $34.12 billion, a price-to-earnings ratio of 11.79, a P/E/G ratio of 0.96 and a beta of 0.94. 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 Hartford Financial Services Group, Inc. has a 12 month low of $73.92 and a 12 month high of $123.23.

The Hartford Financial Services Group declared that its board has approved a share buyback plan on Thursday, July 25th that permits the company to repurchase $3.30 billion in 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 often an indication that the company’s leadership believes its stock is undervalued.

The Hartford Financial Services Group Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 3rd. Shareholders of record on Monday, December 2nd will be given a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 1.77%. This is a boost from The Hartford Financial Services Group’s previous quarterly dividend of $0.47. The ex-dividend date of this dividend is Monday, December 2nd. The Hartford Financial Services Group’s payout ratio is presently 20.84%.

Analysts Set New Price Targets

Several brokerages have issued reports on HIG. Bank of America increased their price target on shares of The Hartford Financial Services Group from $121.00 to $124.00 and gave the company a “neutral” rating in a research report on Thursday, October 10th. JPMorgan Chase & Co. lifted their target price 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. Royal Bank of Canada boosted their price target on shares of The Hartford Financial Services Group from $105.00 to $115.00 and gave the stock a “sector perform” rating in a research note on Monday, July 29th. Piper Sandler raised their price objective on 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. Finally, Jefferies Financial Group boosted their target price on The Hartford Financial Services Group from $113.00 to $127.00 and gave the company a “hold” rating in a research note on Wednesday, October 9th. Eleven equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $120.88.

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.