The Hartford Financial Services Group, Inc. (NYSE:HIG) Shares Sold by M&G Plc

M&G Plc decreased its holdings in The Hartford Financial Services Group, Inc. (NYSE:HIG) by 0.1% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 165,367 shares of the insurance provider’s stock after selling 132 shares during the quarter. M&G Plc owned 0.06% of The Hartford Financial Services Group worth $19,513,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Radnor Capital Management LLC acquired a new stake in shares of The Hartford Financial Services Group during the third quarter worth $3,812,000. Catalina Capital Group LLC raised its holdings in The Hartford Financial Services Group by 4.3% during the 3rd quarter. Catalina Capital Group LLC now owns 2,488 shares of the insurance provider’s stock worth $293,000 after buying an additional 102 shares during the period. Sentry Investment Management LLC purchased a new stake in The Hartford Financial Services Group during the third quarter valued at about $165,000. PDS Planning Inc boosted its holdings in shares of The Hartford Financial Services Group by 31.1% in the third quarter. PDS Planning Inc now owns 3,004 shares of the insurance provider’s stock worth $353,000 after buying an additional 712 shares during the period. Finally, TKG Advisors LLC purchased a new position in shares of The Hartford Financial Services Group in the third quarter worth approximately $2,256,000. Institutional investors own 93.42% of the company’s stock.

The Hartford Financial Services Group Stock Down 1.3 %

HIG opened at $115.19 on Friday. The firm has a market cap of $33.39 billion, a P/E ratio of 11.54, a price-to-earnings-growth ratio of 0.91 and a beta of 0.94. 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 business has a 50 day moving average price of $116.31 and a 200 day moving average price of $107.75. The Hartford Financial Services Group, Inc. has a twelve month low of $72.87 and a twelve month high of $123.23.

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

The Hartford Financial Services Group Increases Dividend

The company also recently disclosed 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. This is an increase from The Hartford Financial Services Group’s previous quarterly dividend of $0.47. This represents a $2.08 annualized dividend and a dividend yield of 1.81%. The ex-dividend date is Monday, December 2nd. The Hartford Financial Services Group’s dividend payout ratio is currently 20.84%.

Wall Street Analyst Weigh In

HIG has been the subject of a number of recent analyst reports. Piper Sandler raised their price objective on shares of The Hartford Financial Services Group from $112.00 to $125.00 and gave the stock an “overweight” rating in a research note on Monday, July 29th. StockNews.com cut The Hartford Financial Services Group from a “buy” rating to a “hold” rating in a research report on Thursday. Argus raised The Hartford Financial Services Group to a “strong-buy” rating in a research report on Friday, August 2nd. Barclays initiated coverage on The Hartford Financial Services Group in a research report on Wednesday, September 4th. They set an “equal weight” rating and a $130.00 price objective for the company. Finally, Wells Fargo & Company upped their target price on The Hartford Financial Services Group from $122.00 to $134.00 and gave the company an “overweight” rating in a report on Tuesday, September 17th. Eleven analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $120.88.

The Hartford Financial Services Group Company 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.