6,023 Shares in The Hartford Financial Services Group, Inc. (NYSE:HIG) Purchased by Strategy Asset Managers LLC

Strategy Asset Managers LLC purchased a new stake in The Hartford Financial Services Group, Inc. (NYSE:HIG) in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 6,023 shares of the insurance provider’s stock, valued at approximately $708,000.

Several other institutional investors have also recently made changes to their positions in HIG. Concurrent Investment Advisors LLC bought a new position in shares of The Hartford Financial Services Group in the second quarter valued at $213,000. Skandinaviska Enskilda Banken AB publ grew its position 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 shares of The Hartford Financial Services Group in the 1st quarter valued at about $1,328,000. Lecap Asset Management Ltd. acquired a new position in shares of The Hartford Financial Services Group during the 3rd quarter worth about $633,000. Finally, Canada Pension Plan Investment Board raised its holdings 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 valued at $20,097,000 after purchasing an additional 94,717 shares during the period. Institutional investors and hedge funds own 93.42% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently commented on HIG. Royal Bank of Canada lifted their price target on 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. Argus upgraded The Hartford Financial Services Group to a “strong-buy” rating in a research note on Friday, August 2nd. UBS Group increased their price target on The Hartford Financial Services Group from $134.00 to $135.00 and gave the company a “buy” rating in a research note on Tuesday, October 15th. Keefe, Bruyette & Woods lifted their price objective 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. Finally, StockNews.com raised shares of The Hartford Financial Services Group from a “hold” rating to a “buy” rating in a research report on Friday, November 15th. Nine investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $120.88.

The Hartford Financial Services Group Trading Up 1.2 %

HIG opened at $118.19 on Thursday. 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 Hartford Financial Services Group, Inc. has a twelve month low of $76.25 and a twelve month high of $123.23. The stock has a market capitalization of $34.26 billion, a price-to-earnings ratio of 11.84, a P/E/G ratio of 0.97 and a beta of 0.94. The company has a 50-day simple moving average of $116.62 and a 200 day simple moving average of $109.10.

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 paid a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 1.76%. This is a boost from The Hartford Financial Services Group’s previous quarterly dividend of $0.47. The ex-dividend date of this dividend is Monday, December 2nd. The Hartford Financial Services Group’s dividend payout ratio (DPR) is 20.84%.

The Hartford Financial Services Group announced that its board has authorized a share 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 repurchase 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 stock is undervalued.

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 firm’s 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 of the company’s stock, valued at approximately $3,021,972.80. This trade represents a 21.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 1.60% of the company’s stock.

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.