Robeco Institutional Asset Management B.V. Increases Stock Position in The Hartford Financial Services Group, Inc. (NYSE:HIG)

Robeco Institutional Asset Management B.V. lifted its holdings in The Hartford Financial Services Group, Inc. (NYSE:HIG) by 22.7% during the third quarter, Holdings Channel reports. The institutional investor owned 1,199,542 shares of the insurance provider’s stock after acquiring an additional 221,778 shares during the quarter. Robeco Institutional Asset Management B.V.’s holdings in The Hartford Financial Services Group were worth $141,078,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the business. Norden Group LLC bought a new position in shares of The Hartford Financial Services Group during the first quarter valued at approximately $786,000. First Trust Direct Indexing L.P. raised its stake in The Hartford Financial Services Group by 8.8% during the first quarter. First Trust Direct Indexing L.P. now owns 6,043 shares of the insurance provider’s stock valued at $623,000 after buying an additional 487 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its stake in The Hartford Financial Services Group by 10.1% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 178,065 shares of the insurance provider’s stock valued at $18,350,000 after buying an additional 16,386 shares during the last quarter. Tokio Marine Asset Management Co. Ltd. boosted its holdings in The Hartford Financial Services Group by 24.1% in the first quarter. Tokio Marine Asset Management Co. Ltd. now owns 6,887 shares of the insurance provider’s stock worth $710,000 after acquiring an additional 1,337 shares in the last quarter. Finally, Fidelis Capital Partners LLC purchased a new stake in shares of The Hartford Financial Services Group in the first quarter worth $194,000. 93.42% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

HIG has been the subject of several recent analyst reports. Morgan Stanley lowered their price target on The Hartford Financial Services Group from $109.00 to $107.00 and set an “equal weight” rating for the company in a research report on Wednesday, July 10th. Barclays started coverage on shares of The Hartford Financial Services Group in a research note on Wednesday, September 4th. They issued an “equal weight” rating and a $130.00 target price on the stock. Royal Bank of Canada boosted their price objective on shares of The Hartford Financial Services Group from $105.00 to $115.00 and gave the stock a “sector perform” rating in a report on Monday, July 29th. Keefe, Bruyette & Woods increased their target price on The Hartford Financial Services Group from $133.00 to $135.00 and gave the company an “outperform” rating in a research note on Tuesday, October 29th. Finally, Argus upgraded shares of The Hartford Financial Services Group to a “strong-buy” rating in a research note on Friday, August 2nd. Ten analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $120.88.

The Hartford Financial Services Group Price Performance

NYSE HIG opened at $110.09 on Monday. The business’s fifty day moving average is $116.33 and its 200 day moving average is $107.50. The Hartford Financial Services Group, Inc. has a fifty-two week low of $72.87 and a fifty-two 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 company has a market capitalization of $31.91 billion, a PE ratio of 11.03, a price-to-earnings-growth ratio of 0.91 and a beta of 0.94.

The Hartford Financial Services Group announced that its board has approved a share repurchase program on Thursday, July 25th that permits the company to buyback $3.30 billion in outstanding shares. This buyback authorization permits the insurance provider to reacquire up to 10.9% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s management believes its shares are undervalued.

The Hartford Financial Services Group Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 3rd. Investors of record on Monday, December 2nd will be paid a dividend of $0.52 per share. 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. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.89%. The Hartford Financial Services Group’s payout ratio is 20.84%.

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.