The Hartford Financial Services Group, Inc. (NYSE:HIG) Holdings Lifted by Intech Investment Management LLC

Intech Investment Management LLC boosted its holdings in shares of The Hartford Financial Services Group, Inc. (NYSE:HIG) by 5.0% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 110,270 shares of the insurance provider’s stock after acquiring an additional 5,254 shares during the quarter. Intech Investment Management LLC’s holdings in The Hartford Financial Services Group were worth $12,969,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. DT Investment Partners LLC acquired a new stake in shares of The Hartford Financial Services Group during the third quarter worth approximately $26,000. New Covenant Trust Company N.A. acquired a new stake in shares of The Hartford Financial Services Group in the first quarter worth about $26,000. Clean Yield Group bought a new stake in shares of The Hartford Financial Services Group during the 3rd quarter worth about $33,000. Quest Partners LLC increased its holdings in shares of The Hartford Financial Services Group by 2,750.0% during the 2nd quarter. Quest Partners LLC now owns 285 shares of the insurance provider’s stock valued at $29,000 after acquiring an additional 275 shares during the last quarter. Finally, Bank & Trust Co bought a new position in shares of The Hartford Financial Services Group in the 2nd quarter valued at approximately $30,000. Hedge funds and other institutional investors own 93.42% of the company’s stock.

The Hartford Financial Services Group Stock Performance

NYSE HIG opened at $119.70 on Friday. The Hartford Financial Services Group, Inc. has a twelve month low of $76.65 and a twelve month high of $123.23. The company has a quick ratio of 0.32, a current ratio of 0.32 and a debt-to-equity ratio of 0.26. The stock has a market cap of $34.70 billion, a P/E ratio of 11.99, a PEG ratio of 0.96 and a beta of 0.94. The company’s 50-day simple moving average is $116.71 and its 200 day simple moving average is $109.17.

The Hartford Financial Services Group declared that its Board of Directors has initiated a stock repurchase plan on Thursday, July 25th that allows the company to repurchase $3.30 billion in outstanding shares. This repurchase authorization allows the insurance provider to buy up to 10.9% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s management believes its shares are undervalued.

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. 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. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.74%. The Hartford Financial Services Group’s dividend payout ratio is presently 18.84%.

Insider Buying and Selling

In other The Hartford Financial Services Group news, EVP Adin M. Tooker sold 6,865 shares of The Hartford Financial Services Group stock in a transaction on Friday, November 15th. The stock was sold at an average price of $117.04, for a total value of $803,479.60. Following the completion of the transaction, the executive vice president now owns 25,820 shares in the company, valued at approximately $3,021,972.80. The trade was a 21.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.60% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on HIG. Bank of America increased their price target 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. Keefe, Bruyette & Woods raised their target price on shares of The Hartford Financial Services Group from $133.00 to $135.00 and gave the company an “outperform” rating in a research note on Tuesday, October 29th. Argus raised shares of The Hartford Financial Services Group to a “strong-buy” rating in a research report on Friday, August 2nd. Royal Bank of Canada raised their price target on The Hartford Financial Services Group from $105.00 to $115.00 and gave the company a “sector perform” rating in a research report on Monday, July 29th. Finally, Barclays assumed coverage on The Hartford Financial Services Group in a research report on Wednesday, September 4th. They set an “equal weight” rating and a $130.00 price objective for the company. Nine analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $120.88.

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.