Natixis Advisors LLC Trims Holdings in The Hartford Financial Services Group, Inc. (NYSE:HIG)

Natixis Advisors LLC trimmed its holdings in The Hartford Financial Services Group, Inc. (NYSE:HIG) by 0.1% during the 3rd quarter, Holdings Channel.com reports. The fund owned 182,597 shares of the insurance provider’s stock after selling 158 shares during the period. Natixis Advisors LLC’s holdings in The Hartford Financial Services Group were worth $21,475,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in HIG. Concurrent Investment Advisors LLC bought a new stake in The Hartford Financial Services Group in the second quarter worth $213,000. Skandinaviska Enskilda Banken AB publ increased its holdings in shares of The Hartford Financial Services Group by 27.6% in the 2nd quarter. Skandinaviska Enskilda Banken AB publ now owns 221,896 shares of the insurance provider’s stock valued at $22,309,000 after acquiring an additional 48,004 shares during the period. Atria Investments Inc bought a new position in The Hartford Financial Services Group in the first quarter worth about $1,328,000. Lecap Asset Management Ltd. purchased a new stake in The Hartford Financial Services Group during the third quarter valued at approximately $633,000. Finally, Canada Pension Plan Investment Board boosted its position in shares of The Hartford Financial Services Group by 94.4% in the 1st quarter. Canada Pension Plan Investment Board now owns 195,017 shares of the insurance provider’s stock worth $20,097,000 after purchasing an additional 94,717 shares in the last quarter. 93.42% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

HIG has been the topic of several research analyst reports. Keefe, Bruyette & Woods boosted their target price on shares of 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. Jefferies Financial Group raised their price objective 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. Barclays started 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 target on the stock. Argus raised shares of The Hartford Financial Services Group to a “strong-buy” rating in a research note on Friday, August 2nd. Finally, Bank of America upped their price objective on shares of The Hartford Financial Services Group from $121.00 to $124.00 and gave the stock a “neutral” rating in a research report on Thursday, October 10th. Nine analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, The Hartford Financial Services Group presently has a consensus rating of “Moderate Buy” and an average price target of $120.88.

The Hartford Financial Services Group Price Performance

HIG stock opened at $118.14 on Tuesday. The Hartford Financial Services Group, Inc. has a 1 year low of $75.83 and a 1 year high of $123.23. The firm has a market capitalization of $34.25 billion, a PE ratio of 11.84, a price-to-earnings-growth ratio of 0.97 and a beta of 0.94. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.32 and a quick ratio of 0.32. The business has a 50 day simple moving average of $116.53 and a 200-day simple moving average of $108.90.

The Hartford Financial Services Group announced that its board has initiated a stock 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 purchase up to 10.9% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s management believes its shares are undervalued.

The Hartford Financial Services Group Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, January 3rd. Shareholders of record on Monday, December 2nd will be paid a $0.52 dividend. 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 1.76%. The Hartford Financial Services Group’s dividend payout ratio (DPR) is 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.