Adin M. Tooker Sells 6,865 Shares of The Hartford Financial Services Group, Inc. (NYSE:HIG) Stock

The Hartford Financial Services Group, Inc. (NYSE:HIG) EVP Adin M. Tooker sold 6,865 shares of the business’s stock in a transaction 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 owns 25,820 shares in the company, valued at approximately $3,021,972.80. This trade represents a 21.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link.

The Hartford Financial Services Group Stock Performance

HIG opened at $118.19 on Thursday. 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 company has a market cap of $34.26 billion, a price-to-earnings ratio of 11.84, a PEG ratio of 0.97 and a beta of 0.94. The company’s 50 day moving average is $116.62 and its 200 day moving average is $109.10. The Hartford Financial Services Group, Inc. has a 12-month low of $76.25 and a 12-month high of $123.23.

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 issued a $0.52 dividend. This is an increase from The Hartford Financial Services Group’s previous quarterly dividend of $0.47. The ex-dividend date is Monday, December 2nd. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.76%. The Hartford Financial Services Group’s dividend payout ratio (DPR) is presently 20.84%.

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

Hedge Funds Weigh In On The Hartford Financial Services Group

A number of institutional investors and hedge funds have recently made changes to their positions in HIG. International Assets Investment Management LLC boosted its holdings in shares of 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 buying an additional 691,900 shares during the last quarter. Swedbank AB purchased a new position in The Hartford Financial Services Group during the first quarter valued at approximately $53,980,000. Caisse DE Depot ET Placement DU Quebec lifted its holdings in The Hartford Financial Services Group by 42.1% during the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 935,298 shares of the insurance provider’s stock valued at $110,000,000 after purchasing an additional 277,295 shares in the last quarter. Verition Fund Management LLC lifted its holdings in The Hartford Financial Services Group by 7,564.9% during the third quarter. Verition Fund Management LLC now owns 248,648 shares of the insurance provider’s stock valued at $29,243,000 after purchasing an additional 245,404 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. lifted its holdings 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 purchasing an additional 221,778 shares in the last quarter. Hedge funds and other institutional investors own 93.42% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the stock. Barclays assumed coverage on shares of The Hartford Financial Services Group in a report on Wednesday, September 4th. They set an “equal weight” rating and a $130.00 target price on the stock. Wells Fargo & Company upped their price target on shares of The Hartford Financial Services Group from $122.00 to $134.00 and gave the stock an “overweight” rating in a research note on Tuesday, September 17th. Piper Sandler upped their price target 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. UBS Group upped their price target on shares of The Hartford Financial Services Group from $134.00 to $135.00 and gave the stock a “buy” rating in a research note on Tuesday, October 15th. Finally, Bank of America upped their price target 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 analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus 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.