Nations Financial Group Inc. IA ADV Purchases New Holdings in The Hartford Financial Services Group, Inc. (NYSE:HIG)

Nations Financial Group Inc. IA ADV purchased a new position in shares of The Hartford Financial Services Group, Inc. (NYSE:HIG) during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 4,028 shares of the insurance provider’s stock, valued at approximately $474,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in HIG. International Assets Investment Management LLC grew its stake in shares of 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 in the last quarter. Swedbank AB bought a new position in shares of The Hartford Financial Services Group in the 1st quarter valued at about $53,980,000. Healthcare of Ontario Pension Plan Trust Fund increased its stake in shares of The Hartford Financial Services Group by 301.2% during 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 during the last quarter. Robeco Institutional Asset Management B.V. raised its holdings in shares of 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. Finally, M&G Plc acquired a new stake in The Hartford Financial Services Group in the 1st quarter valued at about $21,709,000. Institutional investors own 93.42% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on HIG shares. Royal Bank of Canada upped their price objective on The Hartford Financial Services Group from $105.00 to $115.00 and gave the company a “sector perform” rating in a research note on Monday, July 29th. StockNews.com downgraded The Hartford Financial Services Group from a “buy” rating to a “hold” rating in a report on Thursday, November 7th. Barclays initiated coverage on shares of The Hartford Financial Services Group in a report on Wednesday, September 4th. They issued an “equal weight” rating and a $130.00 price objective on the stock. Bank of America raised their target price on shares of The Hartford Financial Services Group from $121.00 to $124.00 and gave the stock a “neutral” rating in a research note on Thursday, October 10th. Finally, Argus upgraded shares of The Hartford Financial Services Group to a “strong-buy” rating in a research note on Friday, August 2nd. Eleven research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $120.88.

The Hartford Financial Services Group Price Performance

The Hartford Financial Services Group stock opened at $117.64 on Thursday. The firm has a market cap of $34.10 billion, a PE ratio of 11.79, a price-to-earnings-growth ratio of 0.97 and a beta of 0.94. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.32 and a quick ratio of 0.32. The stock’s fifty day moving average price is $116.38 and its two-hundred day moving average price is $108.32. The Hartford Financial Services Group, Inc. has a one year low of $73.94 and a one year high of $123.23.

The Hartford Financial Services Group Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 3rd. Investors of record on Monday, December 2nd will be given a $0.52 dividend. The ex-dividend date is Monday, December 2nd. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.77%. 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 presently 18.84%.

The Hartford Financial Services Group announced that its Board of Directors has initiated a share repurchase program on Thursday, July 25th that permits the company to buyback $3.30 billion in outstanding shares. This buyback authorization permits the insurance provider to purchase up to 10.9% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s leadership believes its stock is undervalued.

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.