The Hartford Financial Services Group, Inc. (NYSE:HIG) Shares Bought by Trustmark National Bank Trust Department

Trustmark National Bank Trust Department raised its stake in shares of The Hartford Financial Services Group, Inc. (NYSE:HIG) by 4.7% in the third quarter, according to its most recent 13F filing with the SEC. The fund owned 42,118 shares of the insurance provider’s stock after buying an additional 1,893 shares during the period. Trustmark National Bank Trust Department’s holdings in The Hartford Financial Services Group were worth $4,953,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the stock. New Covenant Trust Company N.A. acquired a new position in The Hartford Financial Services Group in the first quarter valued at approximately $26,000. DT Investment Partners LLC purchased a new stake in The Hartford Financial Services Group during the third quarter worth $26,000. Quest Partners LLC grew its position in 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 buying an additional 275 shares during the period. Bank & Trust Co acquired a new position in shares of The Hartford Financial Services Group in the second quarter worth about $30,000. Finally, Family Firm Inc. acquired a new position in shares of The Hartford Financial Services Group in the second quarter worth about $31,000. Institutional investors and hedge funds own 93.42% of the company’s stock.

Insider Buying and Selling at The Hartford Financial Services Group

In other The Hartford Financial Services Group news, EVP Adin M. Tooker sold 6,865 shares of The Hartford Financial Services Group stock in a transaction on Friday, November 15th. The stock was sold at an average price of $117.04, for a total value of $803,479.60. Following the sale, the executive vice president now owns 25,820 shares in the company, valued at $3,021,972.80. The trade was a 21.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 1.60% of the stock is currently owned by company insiders.

The Hartford Financial Services Group Stock Up 1.2 %

Shares of HIG opened at $118.19 on Thursday. The stock has a fifty day simple moving average of $116.62 and a two-hundred day simple moving average of $109.10. The company has a quick ratio of 0.32, a current ratio of 0.32 and a debt-to-equity ratio of 0.26. The company has a market capitalization of $34.26 billion, a PE ratio of 11.84, a price-to-earnings-growth ratio of 0.96 and a beta of 0.94. The Hartford Financial Services Group, Inc. has a 52-week low of $76.25 and a 52-week high of $123.23.

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

The Hartford Financial Services Group Increases Dividend

The company 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 dividend of $0.52 per share. The ex-dividend date of this dividend 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 yield of 1.76%. The Hartford Financial Services Group’s payout ratio is 18.84%.

Analyst Ratings Changes

Several equities analysts recently weighed in on the company. Argus upgraded The Hartford Financial Services Group to a “strong-buy” rating in a research note on Friday, August 2nd. JPMorgan Chase & Co. increased their target price on The Hartford Financial Services Group from $122.00 to $125.00 and gave the company a “neutral” rating in a research report on Friday, October 25th. StockNews.com raised shares of The Hartford Financial Services Group from a “hold” rating to a “buy” rating in a report on Friday, November 15th. UBS Group increased their price objective on shares of The Hartford Financial Services Group from $134.00 to $135.00 and gave the company a “buy” rating in a report on Tuesday, October 15th. Finally, Piper Sandler boosted their target price 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. Nine investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, The Hartford Financial Services Group presently has an average rating of “Moderate Buy” and a consensus target price 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.