The Hartford Financial Services Group, Inc. (NYSE:HIG) Shares Purchased by Graypoint LLC

Graypoint LLC raised its position in The Hartford Financial Services Group, Inc. (NYSE:HIG) by 6.5% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,172 shares of the insurance provider’s stock after purchasing an additional 254 shares during the quarter. Graypoint LLC’s holdings in The Hartford Financial Services Group were worth $491,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in HIG. New Covenant Trust Company N.A. acquired a new stake in The Hartford Financial Services Group in the 1st quarter valued at approximately $26,000. DT Investment Partners LLC acquired a new position in shares of The Hartford Financial Services Group during the third quarter valued at $26,000. Quest Partners LLC raised its stake in shares of The Hartford Financial Services Group by 2,750.0% during the second quarter. Quest Partners LLC now owns 285 shares of the insurance provider’s stock valued at $29,000 after purchasing an additional 275 shares in the last quarter. Bank & Trust Co acquired a new stake in The Hartford Financial Services Group in the second quarter worth about $30,000. Finally, Family Firm Inc. bought a new position in The Hartford Financial Services Group in the 2nd quarter valued at about $31,000. Institutional investors own 93.42% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently weighed in on HIG shares. Jefferies Financial Group upped their price target on shares of The Hartford Financial Services Group from $113.00 to $127.00 and gave the stock a “hold” rating in a research note on Wednesday, October 9th. UBS Group lifted their price target on 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. Wells Fargo & Company boosted their price objective on The Hartford Financial Services Group from $122.00 to $134.00 and gave the stock an “overweight” rating in a research note on Tuesday, September 17th. StockNews.com cut The Hartford Financial Services Group from a “buy” rating to a “hold” rating in a research note on Thursday. Finally, Piper Sandler boosted their price target on shares of 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. According to data from MarketBeat, The Hartford Financial Services Group presently has an average rating of “Hold” and an average price target of $120.88.

The Hartford Financial Services Group Trading Up 1.9 %

The Hartford Financial Services Group stock opened at $117.43 on Friday. The Hartford Financial Services Group, Inc. has a 52 week low of $73.12 and a 52 week high of $123.23. 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 firm has a market capitalization of $34.04 billion, a price-to-earnings ratio of 11.77, a P/E/G ratio of 0.96 and a beta of 0.94. The company has a 50 day moving average price of $116.31 and a 200 day moving average price of $107.92.

The Hartford Financial Services Group announced that its Board of Directors has initiated a stock repurchase program on Thursday, July 25th that allows the company to repurchase $3.30 billion in shares. This repurchase authorization allows the insurance provider to purchase up to 10.9% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s management believes its shares are undervalued.

The Hartford Financial Services Group Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 3rd. Stockholders of record on Monday, December 2nd will be issued a dividend of $0.52 per share. This is an increase from The Hartford Financial Services Group’s previous quarterly dividend of $0.47. 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%. The Hartford Financial Services Group’s payout ratio is currently 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.