TKG Advisors LLC Buys Shares of 19,181 The Hartford Financial Services Group, Inc. (NYSE:HIG)

TKG Advisors LLC purchased a new position in shares of The Hartford Financial Services Group, Inc. (NYSE:HIG) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 19,181 shares of the insurance provider’s stock, valued at approximately $2,256,000.

Several other institutional investors and hedge funds have also modified their holdings of the business. Asset Management One Co. Ltd. lifted its stake in The Hartford Financial Services Group by 12.1% in the third quarter. Asset Management One Co. Ltd. now owns 148,043 shares of the insurance provider’s stock valued at $17,411,000 after buying an additional 16,004 shares in the last quarter. QRG Capital Management Inc. raised its holdings in shares of The Hartford Financial Services Group by 2.4% during the third quarter. QRG Capital Management Inc. now owns 199,381 shares of the insurance provider’s stock worth $23,449,000 after acquiring an additional 4,738 shares during the period. National Pension Service raised its holdings in shares of The Hartford Financial Services Group by 10.3% during the third quarter. National Pension Service now owns 489,877 shares of the insurance provider’s stock worth $57,614,000 after acquiring an additional 45,835 shares during the period. Intact Investment Management Inc. acquired a new position in The Hartford Financial Services Group in the 3rd quarter worth $74,000. Finally, Robeco Institutional Asset Management B.V. increased its holdings in The Hartford Financial Services Group by 22.7% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 1,199,542 shares of the insurance provider’s stock worth $141,078,000 after purchasing an additional 221,778 shares in the last quarter. 93.42% of the stock is currently owned by institutional investors and hedge funds.

The Hartford Financial Services Group Stock Performance

Shares of NYSE:HIG traded up $0.55 on Monday, hitting $110.64. The company had a trading volume of 60,064 shares, compared to its average volume of 1,602,013. The stock has a market cap of $32.07 billion, a price-to-earnings ratio of 11.03, a P/E/G ratio of 0.91 and a beta of 0.94. The company has a current ratio of 0.32, a quick ratio of 0.32 and a debt-to-equity ratio of 0.26. The stock has a 50 day moving average price of $116.33 and a 200 day moving average price of $107.50. The Hartford Financial Services Group, Inc. has a 1-year low of $72.87 and a 1-year high of $123.23.

The Hartford Financial Services Group Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 3rd. Shareholders 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 is an increase from The Hartford Financial Services Group’s previous quarterly dividend of $0.47. This represents a $2.08 annualized dividend and a yield of 1.88%. The Hartford Financial Services Group’s dividend payout ratio (DPR) is 20.84%.

The Hartford Financial Services Group declared 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 purchase up to 10.9% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board of directors believes its stock is undervalued.

Analyst Ratings Changes

Several equities research analysts have commented on the company. Argus upgraded The Hartford Financial Services Group to a “strong-buy” rating in a research note on Friday, August 2nd. Keefe, Bruyette & Woods boosted 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. Jefferies Financial Group raised their target price on shares of The Hartford Financial Services Group from $113.00 to $127.00 and gave the company a “hold” rating in a research report on Wednesday, October 9th. Piper Sandler increased their price objective 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. Finally, UBS Group lifted their target price on 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. Ten analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus 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.