Meeder Advisory Services Inc. Buys 104 Shares of The Hartford Financial Services Group, Inc. (NYSE:HIG)

Meeder Advisory Services Inc. raised its stake in The Hartford Financial Services Group, Inc. (NYSE:HIG) by 1.9% during the 3rd quarter, Holdings Channel reports. The fund owned 5,621 shares of the insurance provider’s stock after acquiring an additional 104 shares during the period. Meeder Advisory Services Inc.’s holdings in The Hartford Financial Services Group were worth $661,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently made changes to their positions in the company. Quest Partners LLC boosted its stake in The Hartford Financial Services Group by 6,364.9% in the 3rd quarter. Quest Partners LLC now owns 18,425 shares of the insurance provider’s stock valued at $2,167,000 after purchasing an additional 18,140 shares during the period. Empowered Funds LLC boosted its position in shares of The Hartford Financial Services Group by 34.0% in the third quarter. Empowered Funds LLC now owns 17,658 shares of the insurance provider’s stock valued at $2,077,000 after acquiring an additional 4,482 shares during the period. Empirical Finance LLC grew its stake in shares of The Hartford Financial Services Group by 1.8% in the third quarter. Empirical Finance LLC now owns 10,787 shares of the insurance provider’s stock valued at $1,269,000 after acquiring an additional 192 shares in the last quarter. CIBC Asset Management Inc raised its stake in The Hartford Financial Services Group by 6.8% in the 3rd quarter. CIBC Asset Management Inc now owns 43,699 shares of the insurance provider’s stock worth $5,139,000 after purchasing an additional 2,785 shares in the last quarter. Finally, Lifeworks Advisors LLC boosted its holdings in The Hartford Financial Services Group by 9.7% in the 3rd quarter. Lifeworks Advisors LLC now owns 2,417 shares of the insurance provider’s stock valued at $284,000 after purchasing an additional 214 shares during the period. Institutional investors own 93.42% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on HIG shares. Wells Fargo & Company lifted their price target on shares of The Hartford Financial Services Group from $122.00 to $134.00 and gave the company an “overweight” rating in a research report on Tuesday, September 17th. Jefferies Financial Group upped 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 report on Wednesday, October 9th. Argus upgraded The Hartford Financial Services Group to a “strong-buy” rating in a research report on Friday, August 2nd. Keefe, Bruyette & Woods upped 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. Finally, Bank of America increased their price objective on shares of 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. Nine equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, 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 Stock Down 1.1 %

Shares of HIG opened at $116.81 on Wednesday. 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 52 week low of $75.83 and a 52 week high of $123.23. The stock has a market capitalization of $33.86 billion, a price-to-earnings ratio of 11.70, a PEG ratio of 0.97 and a beta of 0.94. The stock has a fifty day moving average of $116.53 and a 200-day moving average of $109.03.

The Hartford Financial Services Group Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, January 3rd. Stockholders of record on Monday, December 2nd will be paid a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.78%. This is a positive change from The Hartford Financial Services Group’s previous quarterly dividend of $0.47. The ex-dividend date is Monday, December 2nd. The Hartford Financial Services Group’s dividend payout ratio (DPR) is presently 18.84%.

The Hartford Financial Services Group declared that its Board of Directors has approved a share repurchase program on Thursday, July 25th that allows the company to buyback $3.30 billion in outstanding shares. This buyback authorization allows the insurance provider to reacquire up to 10.9% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s board believes its shares are undervalued.

Insider Transactions at The Hartford Financial Services Group

In related news, EVP Adin M. Tooker sold 6,865 shares of The Hartford Financial Services Group stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $117.04, for a total transaction of $803,479.60. Following the sale, the executive vice president now directly owns 25,820 shares in the company, valued at $3,021,972.80. This trade represents a 21.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 1.60% of the company’s stock.

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.