PDS Planning Inc Purchases 712 Shares of The Hartford Financial Services Group, Inc. (NYSE:HIG)

PDS Planning Inc raised its holdings in The Hartford Financial Services Group, Inc. (NYSE:HIG) by 31.1% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 3,004 shares of the insurance provider’s stock after purchasing an additional 712 shares during the period. PDS Planning Inc’s holdings in The Hartford Financial Services Group were worth $353,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently made changes to their positions in the business. New Covenant Trust Company N.A. bought a new stake in The Hartford Financial Services Group in the first quarter valued at about $26,000. DT Investment Partners LLC acquired a new position in shares of The Hartford Financial Services Group in the 3rd quarter worth approximately $26,000. Quest Partners LLC lifted its position in shares of 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 buying an additional 275 shares during the period. Bank & Trust Co acquired a new stake in The Hartford Financial Services Group in the 2nd quarter valued at $30,000. Finally, Family Firm Inc. bought a new stake in The Hartford Financial Services Group in the second quarter valued at $31,000. Institutional investors and hedge funds own 93.42% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the stock. Jefferies Financial Group increased their target price 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. Barclays started 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 for the company. Argus upgraded The Hartford Financial Services Group to a “strong-buy” rating in a research report on Friday, August 2nd. Bank of America lifted their price objective on The Hartford Financial Services Group from $121.00 to $124.00 and gave the company a “neutral” rating in a research report on Thursday, October 10th. Finally, Morgan Stanley dropped their target price on shares of The Hartford Financial Services Group from $109.00 to $107.00 and set an “equal weight” rating for the company in a research note on Wednesday, July 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 company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $120.88.

The Hartford Financial Services Group Stock Up 1.0 %

Shares of NYSE HIG opened at $111.16 on Tuesday. The Hartford Financial Services Group, Inc. has a 52 week low of $72.87 and a 52 week high of $123.23. The stock’s fifty day moving average is $116.30 and its 200 day moving average is $107.60. 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 stock has a market capitalization of $32.22 billion, a P/E ratio of 11.14, a PEG ratio of 0.90 and a beta of 0.94.

The Hartford Financial Services Group declared that its Board of Directors has initiated a share repurchase plan on Thursday, July 25th that permits the company to repurchase $3.30 billion in outstanding shares. This repurchase authorization permits the insurance provider to repurchase up to 10.9% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s board of directors believes its stock is undervalued.

The Hartford Financial Services Group Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 3rd. Stockholders of record on Monday, December 2nd will be given a $0.52 dividend. The ex-dividend date of this dividend is Monday, December 2nd. This is a boost from The Hartford Financial Services Group’s previous quarterly dividend of $0.47. This represents a $2.08 annualized dividend and a dividend yield of 1.87%. The Hartford Financial Services Group’s payout ratio is presently 18.84%.

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.