1,406 Shares in The Hartford Financial Services Group, Inc. (NYSE:HIG) Purchased by Sentry Investment Management LLC

Sentry Investment Management LLC acquired a new stake in shares of The Hartford Financial Services Group, Inc. (NYSE:HIG) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 1,406 shares of the insurance provider’s stock, valued at approximately $165,000.

Other large investors also recently bought and sold shares of the company. New Covenant Trust Company N.A. acquired a new stake in shares of The Hartford Financial Services Group during the 1st quarter valued at approximately $26,000. DT Investment Partners LLC bought a new stake in The Hartford Financial Services Group during the third quarter valued at $26,000. Quest Partners LLC raised its holdings 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 during the period. Bank & Trust Co bought a new position in shares of The Hartford Financial Services Group in the 2nd quarter worth about $30,000. Finally, Family Firm Inc. acquired a new position in shares of The Hartford Financial Services Group in the 2nd quarter valued at about $31,000. Institutional investors own 93.42% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on HIG. UBS Group increased 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 research note 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 report on Tuesday, September 17th. JPMorgan Chase & Co. upped their price objective on The Hartford Financial Services Group from $122.00 to $125.00 and gave the stock a “neutral” rating in a research note on Friday, October 25th. Argus upgraded The Hartford Financial Services Group to a “strong-buy” rating in a research note on Friday, August 2nd. Finally, Morgan Stanley lowered their price target on shares of The Hartford Financial Services Group from $109.00 to $107.00 and set an “equal weight” rating for the company in a research report on Wednesday, July 10th. Ten 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, the company has an average rating of “Moderate Buy” and a consensus target price of $120.88.

The Hartford Financial Services Group Stock Performance

NYSE:HIG opened at $111.16 on Tuesday. The company has a 50-day moving average of $116.30 and a 200-day moving average of $107.60. The firm has a market cap of $32.22 billion, a price-to-earnings ratio of 11.14, a price-to-earnings-growth ratio of 0.90 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 twelve month low of $72.87 and a twelve month high of $123.23.

The Hartford Financial Services Group announced that its Board of Directors has approved a share repurchase plan on Thursday, July 25th that authorizes the company to buyback $3.30 billion in shares. This buyback authorization authorizes the insurance provider to reacquire up to 10.9% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board believes its shares are undervalued.

The Hartford Financial Services Group Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 3rd. Investors of record on Monday, December 2nd will be issued a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 1.87%. 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 dividend payout ratio (DPR) is presently 18.84%.

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.