The Hartford Financial Services Group, Inc. (NYSE:HIG) Shares Sold by Prudent Man Advisors LLC

Prudent Man Advisors LLC trimmed its holdings in The Hartford Financial Services Group, Inc. (NYSE:HIG) by 16.0% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 7,837 shares of the insurance provider’s stock after selling 1,488 shares during the quarter. Prudent Man Advisors LLC’s holdings in The Hartford Financial Services Group were worth $922,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the stock. Concurrent Investment Advisors LLC acquired a new position in shares of The Hartford Financial Services Group in the 2nd quarter valued at $213,000. Skandinaviska Enskilda Banken AB publ boosted its stake in The Hartford Financial Services Group by 27.6% in the second quarter. Skandinaviska Enskilda Banken AB publ now owns 221,896 shares of the insurance provider’s stock valued at $22,309,000 after acquiring an additional 48,004 shares in the last quarter. Atria Investments Inc acquired a new position in The Hartford Financial Services Group in the first quarter valued at $1,328,000. Lecap Asset Management Ltd. acquired a new stake in shares of The Hartford Financial Services Group during the third quarter worth about $633,000. Finally, Canada Pension Plan Investment Board lifted its holdings in shares of The Hartford Financial Services Group by 94.4% in the 1st quarter. Canada Pension Plan Investment Board now owns 195,017 shares of the insurance provider’s stock valued at $20,097,000 after purchasing an additional 94,717 shares during the last quarter. 93.42% of the stock is currently owned by hedge funds and other institutional investors.

The Hartford Financial Services Group Stock Performance

Shares of HIG stock opened at $117.95 on Monday. 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 50 day simple moving average of $116.51 and a 200-day simple moving average of $108.75. The company has a market cap of $34.19 billion, a price-to-earnings ratio of 11.82, a price-to-earnings-growth ratio of 0.97 and a beta of 0.94. The Hartford Financial Services Group, Inc. has a 12-month low of $75.36 and a 12-month high of $123.23.

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

The Hartford Financial Services Group Increases Dividend

The firm 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 $0.52 dividend. This is a boost from The Hartford Financial Services Group’s previous quarterly dividend of $0.47. The ex-dividend date is Monday, December 2nd. This represents a $2.08 annualized dividend and a yield of 1.76%. The Hartford Financial Services Group’s dividend payout ratio is presently 18.84%.

Analysts Set New Price Targets

HIG has been the topic of a number of research reports. Royal Bank of Canada raised their price target on 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. 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 report on Thursday, October 10th. StockNews.com upgraded shares of The Hartford Financial Services Group from a “hold” rating to a “buy” rating in a research report on Friday. Keefe, Bruyette & Woods raised their price objective on shares of The Hartford Financial Services Group from $133.00 to $135.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 29th. Finally, Wells Fargo & Company upped their target price on shares of The Hartford Financial Services Group from $122.00 to $134.00 and gave the company an “overweight” rating in a report on Tuesday, September 17th. Nine research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, The Hartford Financial Services Group currently has an average rating of “Moderate Buy” 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.