Banque Cantonale Vaudoise Purchases 1,144 Shares of The Hartford Financial Services Group, Inc. (NYSE:HIG)

Banque Cantonale Vaudoise raised its position in The Hartford Financial Services Group, Inc. (NYSE:HIG) by 6.6% during the third quarter, Holdings Channel reports. The fund owned 18,404 shares of the insurance provider’s stock after acquiring an additional 1,144 shares during the period. Banque Cantonale Vaudoise’s holdings in The Hartford Financial Services Group were worth $2,164,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently made changes to their positions in the stock. Trust Co. of Vermont lifted its position in shares of The Hartford Financial Services Group by 27.9% during the 3rd 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 2nd quarter. Bailard Inc. now owns 19,378 shares of the insurance provider’s stock valued at $1,948,000 after buying an additional 101 shares in the last quarter. Catalina Capital Group LLC lifted its position in shares of 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 valued at $293,000 after buying an additional 102 shares in the last quarter. Meeder Advisory Services Inc. lifted its position in shares of The Hartford Financial Services Group by 1.9% during the 3rd quarter. Meeder Advisory Services Inc. now owns 5,621 shares of the insurance provider’s stock valued at $661,000 after buying an additional 104 shares in the last quarter. Finally, Tectonic Advisors LLC raised its stake in The Hartford Financial Services Group by 2.6% during the 3rd 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 during the period. Institutional investors own 93.42% of the company’s stock.

Insider Activity

In related news, EVP Adin M. Tooker sold 6,865 shares of the business’s stock in a transaction on Friday, November 15th. The stock was sold at an average price of $117.04, for a total transaction of $803,479.60. Following the completion of the transaction, 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 1.60% of the company’s stock.

The Hartford Financial Services Group Stock Performance

NYSE HIG opened at $118.19 on Thursday. The company has a market cap of $34.26 billion, a P/E ratio of 11.84, a P/E/G ratio of 0.97 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’s 50 day moving average price is $116.62 and its 200-day moving average price is $109.10. The Hartford Financial Services Group, Inc. has a fifty-two week low of $76.25 and a fifty-two week high of $123.23.

The Hartford Financial Services Group declared that its board has initiated a share buyback plan on Thursday, July 25th that allows the company to buyback $3.30 billion in shares. This buyback authorization allows the insurance provider to buy up to 10.9% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s leadership 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. Stockholders of record on Monday, December 2nd will be given a dividend of $0.52 per share. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $2.08 annualized dividend and a dividend yield of 1.76%. This is an increase from The Hartford Financial Services Group’s previous quarterly dividend of $0.47. The Hartford Financial Services Group’s payout ratio is currently 20.84%.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. JPMorgan Chase & Co. lifted 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 note on Friday, October 25th. Royal Bank of Canada lifted their target price on The Hartford Financial Services Group from $105.00 to $115.00 and gave the company a “sector perform” rating in a research note on Monday, July 29th. Bank of America lifted their target price on The Hartford Financial Services Group from $121.00 to $124.00 and gave the company a “neutral” rating in a research note on Thursday, October 10th. Barclays assumed coverage on The Hartford Financial Services Group in a research note on Wednesday, September 4th. They set an “equal weight” rating and a $130.00 target price on the stock. Finally, Jefferies Financial Group lifted their target price on The Hartford Financial Services Group from $113.00 to $127.00 and gave the company a “hold” rating in a research note on Wednesday, October 9th. Nine research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, The Hartford Financial Services Group has a consensus rating of “Moderate Buy” and a consensus 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.