National Pension Service Has $57.61 Million Holdings in The Hartford Financial Services Group, Inc. (NYSE:HIG)

National Pension Service boosted its holdings in shares of The Hartford Financial Services Group, Inc. (NYSE:HIG) by 10.3% in the third quarter, HoldingsChannel reports. The firm owned 489,877 shares of the insurance provider’s stock after acquiring an additional 45,835 shares during the period. National Pension Service’s holdings in The Hartford Financial Services Group were worth $57,614,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Trust Co. of Vermont increased its stake in shares of The Hartford Financial Services Group by 27.9% in the third quarter. Trust Co. of Vermont now owns 403 shares of the insurance provider’s stock valued at $47,000 after buying an additional 88 shares in the last quarter. Bailard Inc. lifted its position in shares of The Hartford Financial Services Group by 0.5% during the second quarter. Bailard Inc. now owns 19,378 shares of the insurance provider’s stock worth $1,948,000 after purchasing an additional 101 shares in the last quarter. Dorsey & Whitney Trust CO LLC grew its stake in shares of The Hartford Financial Services Group by 3.1% during the first quarter. Dorsey & Whitney Trust CO LLC now owns 3,736 shares of the insurance provider’s stock valued at $385,000 after purchasing an additional 114 shares during the last quarter. Tectonic Advisors LLC increased its holdings in shares of The Hartford Financial Services Group by 2.6% in the third quarter. Tectonic Advisors LLC now owns 4,566 shares of the insurance provider’s stock valued at $537,000 after purchasing an additional 114 shares in the last quarter. Finally, Covestor Ltd raised its position in The Hartford Financial Services Group by 28.8% in the 1st quarter. Covestor Ltd now owns 519 shares of the insurance provider’s stock worth $54,000 after purchasing an additional 116 shares during the last quarter. Institutional investors own 93.42% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have commented on HIG shares. Morgan Stanley decreased their price objective on The Hartford Financial Services Group from $109.00 to $107.00 and set an “equal weight” rating on the stock in a research report on Wednesday, July 10th. Wells Fargo & Company lifted 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 report on Tuesday, September 17th. UBS Group upped their target price on shares of 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. Argus upgraded shares of The Hartford Financial Services Group to a “strong-buy” rating in a research report on Friday, August 2nd. Finally, Jefferies Financial Group increased their price objective on shares of The Hartford Financial Services Group from $113.00 to $127.00 and gave the company a “hold” rating in a report on Wednesday, October 9th. Ten equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $120.88.

The Hartford Financial Services Group Stock Performance

Shares of HIG opened at $111.63 on Wednesday. The firm has a market cap of $32.36 billion, a P/E ratio of 11.19, a PEG ratio of 0.90 and a beta of 0.94. The Hartford Financial Services Group, Inc. has a twelve month low of $72.87 and a twelve month 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’s 50 day moving average price is $116.26 and its two-hundred day moving average price is $107.68.

The Hartford Financial Services Group Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, January 3rd. Investors of record on Monday, December 2nd will be paid a $0.52 dividend. The ex-dividend date of this dividend is Monday, December 2nd. This is a positive change 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 yield of 1.86%. The Hartford Financial Services Group’s dividend payout ratio is presently 18.84%.

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

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.