Sentry Investment Management LLC Purchases New Shares in The Hartford Financial Services Group, Inc. (NYSE:HIG)

Sentry Investment Management LLC purchased a new position in The Hartford Financial Services Group, Inc. (NYSE:HIG) during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 1,406 shares of the insurance provider’s stock, valued at approximately $165,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. New Covenant Trust Company N.A. purchased a new position in shares of The Hartford Financial Services Group in the first quarter worth approximately $26,000. DT Investment Partners LLC acquired a new position in The Hartford Financial Services Group in the 3rd quarter worth approximately $26,000. Quest Partners LLC grew its position in The Hartford Financial Services Group by 2,750.0% during the 2nd quarter. Quest Partners LLC now owns 285 shares of the insurance provider’s stock worth $29,000 after purchasing an additional 275 shares in the last quarter. Bank & Trust Co acquired a new stake in The Hartford Financial Services Group during the 2nd quarter valued at $30,000. Finally, Family Firm Inc. acquired a new stake in The Hartford Financial Services Group during the 2nd quarter valued at $31,000. Institutional investors and hedge funds own 93.42% of the company’s stock.

The Hartford Financial Services Group Price Performance

NYSE HIG opened at $111.16 on Tuesday. The Hartford Financial Services Group, Inc. has a fifty-two week low of $72.87 and a fifty-two week high of $123.23. The stock’s 50-day moving average is $116.30 and its two-hundred day moving average is $107.60. 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 firm has a market cap of $32.22 billion, a P/E ratio of 11.14, a price-to-earnings-growth ratio of 0.90 and a beta of 0.94.

The Hartford Financial Services Group declared that its board has authorized a stock buyback plan on Thursday, July 25th that authorizes the company to buyback $3.30 billion in outstanding shares. This buyback authorization authorizes the insurance provider to repurchase up to 10.9% of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s board of directors 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. Shareholders of record on Monday, December 2nd will be issued a dividend of $0.52 per share. This is a positive change from The Hartford Financial Services Group’s previous quarterly dividend of $0.47. This represents a $2.08 annualized dividend and a yield of 1.87%. The ex-dividend date of this dividend is Monday, December 2nd. The Hartford Financial Services Group’s dividend payout ratio (DPR) is 18.84%.

Analyst Upgrades and Downgrades

HIG has been the topic of a number of research analyst reports. JPMorgan Chase & Co. lifted their price target on The Hartford Financial Services Group from $122.00 to $125.00 and gave the company a “neutral” rating in a report on Friday, October 25th. Jefferies Financial Group increased 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. Morgan Stanley lowered their price objective on shares of The Hartford Financial Services Group from $109.00 to $107.00 and set an “equal weight” rating on the stock in a research report on Wednesday, July 10th. Keefe, Bruyette & Woods increased their target price 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, Bank of America boosted their price target on shares of The Hartford Financial Services Group from $121.00 to $124.00 and gave the company a “neutral” rating in a report on Thursday, October 10th. 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 stock. Based on data from MarketBeat.com, The Hartford Financial Services Group presently has a consensus rating of “Moderate Buy” and a consensus target price of $120.88.

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.