Meeder Advisory Services Inc. Acquires 104 Shares of The Hartford Financial Services Group, Inc. (NYSE:HIG)

Meeder Advisory Services Inc. grew its stake in The Hartford Financial Services Group, Inc. (NYSE:HIG) by 1.9% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 5,621 shares of the insurance provider’s stock after purchasing an additional 104 shares during the quarter. Meeder Advisory Services Inc.’s holdings in The Hartford Financial Services Group were worth $661,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. New Covenant Trust Company N.A. bought a new position in The Hartford Financial Services Group during the first quarter worth about $26,000. DT Investment Partners LLC bought a new position in The Hartford Financial Services Group during the 3rd quarter worth approximately $26,000. Quest Partners LLC boosted its stake in 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 worth $29,000 after acquiring an additional 275 shares during the last quarter. Bank & Trust Co acquired a new position in The Hartford Financial Services Group during the second quarter valued at approximately $30,000. Finally, Family Firm Inc. acquired a new stake in The Hartford Financial Services Group in the second quarter worth $31,000. 93.42% of the stock is currently owned by institutional investors.

Insider Buying and Selling at The Hartford Financial Services Group

In other news, EVP Adin M. Tooker sold 6,865 shares of the business’s stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $117.04, for a total transaction of $803,479.60. Following the transaction, the executive vice president now directly owns 25,820 shares in the company, valued at $3,021,972.80. The trade was a 21.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 1.60% of the company’s stock.

Wall Street Analyst Weigh In

HIG has been the topic of several research analyst reports. Royal Bank of Canada raised their price objective 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. 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 research report on Tuesday, September 17th. Barclays began coverage on The Hartford Financial Services Group in a research report on Wednesday, September 4th. They issued an “equal weight” rating and a $130.00 price objective for the company. Argus upgraded shares of The Hartford Financial Services Group to a “strong-buy” rating in a report on Friday, August 2nd. Finally, UBS Group upped their price target on shares of The Hartford Financial Services Group from $134.00 to $135.00 and gave the company a “buy” rating in a report on Tuesday, October 15th. Nine investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, The Hartford Financial Services Group has a consensus rating of “Moderate Buy” and a consensus price target of $120.88.

The Hartford Financial Services Group Stock Down 1.1 %

NYSE:HIG opened at $116.81 on Wednesday. The Hartford Financial Services Group, Inc. has a twelve month low of $75.83 and a twelve month high of $123.23. The firm has a market capitalization of $33.86 billion, a price-to-earnings ratio of 11.70, a price-to-earnings-growth ratio of 0.97 and a beta of 0.94. 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’s 50 day moving average price is $116.53 and its two-hundred day moving average price is $109.03.

The Hartford Financial Services Group announced that its board 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 reacquire up to 10.9% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s leadership believes its shares are undervalued.

The Hartford Financial Services Group Increases Dividend

The company also recently declared 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 is a positive change from The Hartford Financial Services Group’s previous quarterly dividend of $0.47. This represents a $2.08 annualized dividend and a yield of 1.78%. The ex-dividend date of this dividend is Monday, December 2nd. The Hartford Financial Services Group’s dividend payout ratio is 18.84%.

The Hartford Financial Services Group 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.