Ashton Thomas Securities LLC Makes New $40,000 Investment in The Hartford Financial Services Group, Inc. (NYSE:HIG)

Ashton Thomas Securities LLC purchased 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 firm purchased 338 shares of the insurance provider’s stock, valued at approximately $40,000.

Several other institutional investors and hedge funds have also recently made changes to their positions in HIG. DT Investment Partners LLC purchased a new stake in The Hartford Financial Services Group during the third quarter worth $26,000. New Covenant Trust Company N.A. purchased a new stake in The Hartford Financial Services Group in the first quarter valued at $26,000. Clean Yield Group acquired a new stake in The Hartford Financial Services Group during the 3rd quarter worth about $33,000. Quest Partners LLC raised its stake 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 buying an additional 275 shares during the last quarter. Finally, Bank & Trust Co purchased a new stake in shares of The Hartford Financial Services Group in the second quarter worth about $30,000. 93.42% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

HIG has been the topic of several analyst reports. UBS Group raised 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 research report on Tuesday, October 15th. JPMorgan Chase & Co. lifted their price target on The Hartford Financial Services Group from $122.00 to $125.00 and gave the company a “neutral” rating in a research note on Friday, October 25th. Keefe, Bruyette & Woods increased their price target on 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. Bank of America lifted their target price on shares of The Hartford Financial Services Group from $121.00 to $124.00 and gave the company a “neutral” rating in a research report on Thursday, October 10th. Finally, Piper Sandler boosted their price target on The Hartford Financial Services Group from $112.00 to $125.00 and gave the stock an “overweight” rating in a research report on Monday, July 29th. Eleven 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’s stock. According to data from MarketBeat, The Hartford Financial Services Group currently has an average rating of “Hold” and a consensus price target of $120.88.

The Hartford Financial Services Group Trading Down 0.2 %

Shares of The Hartford Financial Services Group stock opened at $117.64 on Thursday. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.32 and a current ratio of 0.32. The company has a market capitalization of $34.10 billion, a P/E ratio of 11.84, a PEG ratio of 0.97 and a beta of 0.94. The Hartford Financial Services Group, Inc. has a 1 year low of $73.94 and a 1 year high of $123.23. The company’s fifty day moving average is $116.38 and its two-hundred day moving average is $108.32.

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 issued a dividend of $0.52 per share. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.77%. This is a positive change from The Hartford Financial Services Group’s previous quarterly dividend of $0.47. The Hartford Financial Services Group’s dividend payout ratio (DPR) is currently 18.84%.

The Hartford Financial Services Group declared that its Board of Directors has authorized a share buyback program on Thursday, July 25th that allows the company to buyback $3.30 billion in outstanding shares. This buyback authorization allows the insurance provider to buy up to 10.9% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s board of directors believes its stock is undervalued.

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.