United Asset Strategies Inc. Decreases Stock Holdings in The Hartford Financial Services Group, Inc. (NYSE:HIG)

United Asset Strategies Inc. decreased its holdings in shares of The Hartford Financial Services Group, Inc. (NYSE:HIG) by 5.1% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,751 shares of the insurance provider’s stock after selling 148 shares during the quarter. United Asset Strategies Inc.’s holdings in The Hartford Financial Services Group were worth $324,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. New Covenant Trust Company N.A. purchased a new stake in The Hartford Financial Services Group during the first quarter valued at $26,000. DT Investment Partners LLC purchased a new stake in shares of The Hartford Financial Services Group in the third quarter valued at $26,000. Quest Partners LLC raised its stake in shares of The Hartford Financial Services Group by 2,750.0% in the second quarter. Quest Partners LLC now owns 285 shares of the insurance provider’s stock valued at $29,000 after acquiring an additional 275 shares during the period. Bank & Trust Co purchased a new stake in shares of The Hartford Financial Services Group in the second quarter valued at $30,000. Finally, Family Firm Inc. purchased a new stake in shares of The Hartford Financial Services Group in the second quarter valued at $31,000. Hedge funds and other institutional investors own 93.42% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on HIG. Barclays began coverage on shares of The Hartford Financial Services Group in a research note on Wednesday, September 4th. They issued an “equal weight” rating and a $130.00 target price on the stock. 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. Keefe, Bruyette & Woods increased 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. Royal Bank of Canada increased their target price on shares of The Hartford Financial Services Group from $105.00 to $115.00 and gave the company a “sector perform” rating in a research note on Monday, July 29th. 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 report on Thursday, October 10th. Ten equities research 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 company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $120.88.

The Hartford Financial Services Group Stock Down 2.0 %

Shares of The Hartford Financial Services Group stock opened at $110.46 on Friday. 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 1 year low of $72.46 and a 1 year high of $123.23. The firm’s 50-day moving average is $116.38 and its two-hundred day moving average is $107.26. The stock has a market cap of $32.02 billion, a price-to-earnings ratio of 11.07, a PEG ratio of 0.93 and a beta of 0.93.

The Hartford Financial Services Group Increases Dividend

The firm 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 represents a $2.08 annualized dividend and a yield of 1.88%. This is a boost from The Hartford Financial Services Group’s previous quarterly dividend of $0.47. The ex-dividend date of this dividend is Monday, December 2nd. The Hartford Financial Services Group’s dividend payout ratio is presently 18.84%.

The Hartford Financial Services Group announced that its board has approved a stock buyback plan on Thursday, July 25th that permits the company to buyback $3.30 billion in shares. This buyback authorization permits the insurance provider to purchase up to 10.9% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s board 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.