The Hartford Financial Services Group, Inc. (NYSE:HIG) Shares Sold by Los Angeles Capital Management LLC

Los Angeles Capital Management LLC reduced its holdings in The Hartford Financial Services Group, Inc. (NYSE:HIG) by 21.2% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 85,088 shares of the insurance provider’s stock after selling 22,845 shares during the quarter. Los Angeles Capital Management LLC’s holdings in The Hartford Financial Services Group were worth $10,007,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the business. Trust Co. of Vermont increased its position in The Hartford Financial Services Group by 27.9% during the third quarter. Trust Co. of Vermont now owns 403 shares of the insurance provider’s stock worth $47,000 after purchasing an additional 88 shares during the last quarter. Bailard Inc. raised its position in shares of The Hartford Financial Services Group by 0.5% in the 2nd quarter. Bailard Inc. now owns 19,378 shares of the insurance provider’s stock worth $1,948,000 after buying an additional 101 shares during the period. Catalina Capital Group LLC boosted its holdings in The Hartford Financial Services Group by 4.3% in the third quarter. Catalina Capital Group LLC now owns 2,488 shares of the insurance provider’s stock valued at $293,000 after acquiring an additional 102 shares during the last quarter. Dorsey & Whitney Trust CO LLC grew its position in The Hartford Financial Services Group by 3.1% during the first quarter. Dorsey & Whitney Trust CO LLC now owns 3,736 shares of the insurance provider’s stock valued at $385,000 after acquiring an additional 114 shares during the period. Finally, Tectonic Advisors LLC increased its stake in The Hartford Financial Services Group by 2.6% during the third quarter. Tectonic Advisors LLC now owns 4,566 shares of the insurance provider’s stock worth $537,000 after acquiring an additional 114 shares during the last quarter. 93.42% of the stock is currently owned by hedge funds and other institutional investors.

The Hartford Financial Services Group Trading Up 0.2 %

Shares of HIG stock opened at $117.70 on Tuesday. 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 Hartford Financial Services Group, Inc. has a 1 year low of $73.92 and a 1 year high of $123.23. The stock has a fifty day moving average of $116.31 and a two-hundred day moving average of $108.03. The firm has a market capitalization of $34.12 billion, a PE ratio of 11.79, a price-to-earnings-growth ratio of 0.96 and a beta of 0.94.

The Hartford Financial Services Group announced that its board has approved a share buyback program 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 programs are generally a sign that the company’s board believes its shares are undervalued.

The Hartford Financial Services Group Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 3rd. Stockholders 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 dividend yield of 1.77%. The ex-dividend date is Monday, December 2nd. 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

A number of brokerages have recently issued reports on HIG. Royal Bank of Canada boosted their target price 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. Keefe, Bruyette & Woods raised their target price on shares of The Hartford Financial Services Group from $133.00 to $135.00 and gave the company an “outperform” rating in a research note on Tuesday, October 29th. Wells Fargo & Company increased 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. Bank of America boosted 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. Finally, Argus raised The Hartford Financial Services Group to a “strong-buy” rating in a research report on Friday, August 2nd. Eleven investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $120.88.

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.