The Hartford Financial Services Group, Inc. (NYSE:HIG) Shares Sold by KBC Group NV

KBC Group NV lowered its position in shares of The Hartford Financial Services Group, Inc. (NYSE:HIG) by 31.3% in the 3rd quarter, Holdings Channel reports. The fund owned 1,032,240 shares of the insurance provider’s stock after selling 469,425 shares during the period. KBC Group NV’s holdings in The Hartford Financial Services Group were worth $121,402,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of HIG. International Assets Investment Management LLC lifted its holdings in The Hartford Financial Services Group by 31,680.4% in the third quarter. International Assets Investment Management LLC now owns 694,084 shares of the insurance provider’s stock worth $816,310,000 after purchasing an additional 691,900 shares during the period. Swedbank AB bought a new stake in shares of The Hartford Financial Services Group in the 1st quarter worth $53,980,000. Healthcare of Ontario Pension Plan Trust Fund lifted its holdings in shares of The Hartford Financial Services Group by 301.2% in the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 333,000 shares of the insurance provider’s stock valued at $34,316,000 after buying an additional 250,000 shares during the period. Robeco Institutional Asset Management B.V. boosted its stake in The Hartford Financial Services Group by 22.7% during the third quarter. Robeco Institutional Asset Management B.V. now owns 1,199,542 shares of the insurance provider’s stock valued at $141,078,000 after buying an additional 221,778 shares in the last quarter. Finally, M&G Plc acquired a new position in The Hartford Financial Services Group during the first quarter worth about $21,709,000. 93.42% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the stock. Keefe, Bruyette & Woods upped their price target on shares of The Hartford Financial Services Group from $133.00 to $135.00 and gave the company an “outperform” rating in a report on Tuesday, October 29th. UBS Group increased 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 note on Tuesday, October 15th. Jefferies Financial Group lifted their price target on shares of The Hartford Financial Services Group from $113.00 to $127.00 and gave the stock a “hold” rating in a research report on Wednesday, October 9th. Wells Fargo & Company upped their price target on The Hartford Financial Services Group from $122.00 to $134.00 and gave the company an “overweight” rating in a report on Tuesday, September 17th. Finally, Bank of America raised their price objective on The Hartford Financial Services Group from $121.00 to $124.00 and gave the stock a “neutral” rating in a research note on Thursday, October 10th. Eleven equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $120.88.

The Hartford Financial Services Group Stock Down 0.2 %

HIG opened at $117.64 on Thursday. The company has a market capitalization of $34.10 billion, a PE ratio of 11.79, a price-to-earnings-growth ratio of 0.97 and a beta of 0.94. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.32 and a quick ratio of 0.32. The Hartford Financial Services Group, Inc. has a fifty-two week low of $73.94 and a fifty-two week high of $123.23. The business has a 50-day moving average of $116.38 and a 200-day moving average of $108.32.

The Hartford Financial Services Group Increases Dividend

The firm 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 annualized dividend and a dividend yield of 1.77%. 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. The Hartford Financial Services Group’s payout ratio is presently 18.84%.

The Hartford Financial Services Group declared that its board has approved a share buyback 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 reacquire up to 10.9% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s leadership believes its stock is undervalued.

About The Hartford Financial Services Group

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.