Private Advisor Group LLC Acquires 3,618 Shares of The Hartford Financial Services Group, Inc. (NYSE:HIG)

Private Advisor Group LLC raised its holdings in shares of The Hartford Financial Services Group, Inc. (NYSE:HIG) by 23.9% during the third quarter, Holdings Channel.com reports. The fund owned 18,725 shares of the insurance provider’s stock after buying an additional 3,618 shares during the period. Private Advisor Group LLC’s holdings in The Hartford Financial Services Group were worth $2,202,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Dimensional Fund Advisors LP raised its holdings in The Hartford Financial Services Group by 1.2% during the second quarter. Dimensional Fund Advisors LP now owns 5,809,358 shares of the insurance provider’s stock valued at $584,177,000 after acquiring an additional 69,007 shares during the period. Nordea Investment Management AB raised its holdings in The Hartford Financial Services Group by 7.9% during the first quarter. Nordea Investment Management AB now owns 3,191,914 shares of the insurance provider’s stock valued at $328,320,000 after acquiring an additional 233,742 shares during the period. AQR Capital Management LLC increased its holdings in shares of The Hartford Financial Services Group by 4.9% in the second quarter. AQR Capital Management LLC now owns 1,497,960 shares of the insurance provider’s stock worth $150,605,000 after purchasing an additional 70,018 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its holdings in shares of The Hartford Financial Services Group by 2.4% in the second quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 1,367,400 shares of the insurance provider’s stock worth $137,478,000 after purchasing an additional 31,806 shares during the last quarter. Finally, Bahl & Gaynor Inc. increased its holdings in shares of The Hartford Financial Services Group by 3.4% in the second quarter. Bahl & Gaynor Inc. now owns 1,229,133 shares of the insurance provider’s stock worth $123,577,000 after purchasing an additional 40,400 shares during the last quarter. 93.42% of the stock is owned by institutional investors.

The Hartford Financial Services Group Stock Performance

The Hartford Financial Services Group stock opened at $112.14 on Wednesday. The company has a 50 day moving average price of $116.37 and a 200-day moving average price of $107.20. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.32 and a current ratio of 0.32. The Hartford Financial Services Group, Inc. has a fifty-two week low of $71.16 and a fifty-two week high of $123.23. The company has a market capitalization of $33.17 billion, a PE ratio of 12.74, a P/E/G ratio of 0.99 and a beta of 0.93.

The Hartford Financial Services Group announced that its board has authorized a stock buyback plan on Thursday, July 25th that authorizes the company to buyback $3.30 billion in shares. This buyback authorization authorizes the insurance provider to buy up to 10.9% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s board believes its stock is undervalued.

The Hartford Financial Services Group Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 3rd. Stockholders of record on Monday, December 2nd will be paid a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 1.85%. The ex-dividend date is Monday, December 2nd. This is an increase from The Hartford Financial Services Group’s previous quarterly dividend of $0.47. The Hartford Financial Services Group’s payout ratio is currently 23.64%.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on HIG shares. JPMorgan Chase & Co. lifted their target price on The Hartford Financial Services Group from $122.00 to $125.00 and gave the stock a “neutral” rating in a report on Friday, October 25th. Wells Fargo & Company lifted their target price 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. UBS Group lifted their target price on The Hartford Financial Services Group from $134.00 to $135.00 and gave the stock a “buy” rating in a report on Tuesday, October 15th. Barclays began coverage on The Hartford Financial Services Group in a report on Wednesday, September 4th. They issued an “equal weight” rating and a $130.00 target price on the stock. Finally, Piper Sandler lifted 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. Ten analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $120.88.

About The Hartford Financial Services Group

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.