Gulf International Bank UK Ltd Has $2.88 Million Holdings in The Hartford Financial Services Group, Inc. (NYSE:HIG)

Gulf International Bank UK Ltd trimmed its holdings in The Hartford Financial Services Group, Inc. (NYSE:HIG) by 4.0% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 24,518 shares of the insurance provider’s stock after selling 1,010 shares during the period. Gulf International Bank UK Ltd’s holdings in The Hartford Financial Services Group were worth $2,883,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Concurrent Investment Advisors LLC bought a new position in The Hartford Financial Services Group during the second quarter worth $213,000. Sei Investments Co. grew its stake in The Hartford Financial Services Group by 5.6% in the 1st quarter. Sei Investments Co. now owns 229,305 shares of the insurance provider’s stock valued at $23,629,000 after buying an additional 12,067 shares during the last quarter. Skandinaviska Enskilda Banken AB publ raised its holdings in The Hartford Financial Services Group by 27.6% in the 2nd quarter. Skandinaviska Enskilda Banken AB publ now owns 221,896 shares of the insurance provider’s stock valued at $22,309,000 after acquiring an additional 48,004 shares during the period. Twin Tree Management LP acquired a new stake in The Hartford Financial Services Group during the first quarter worth approximately $3,133,000. Finally, State Board of Administration of Florida Retirement System boosted its holdings in shares of The Hartford Financial Services Group by 6.1% during the first quarter. State Board of Administration of Florida Retirement System now owns 421,431 shares of the insurance provider’s stock worth $43,428,000 after acquiring an additional 24,326 shares during the period. 93.42% of the stock is currently owned by institutional investors.

The Hartford Financial Services Group Price Performance

Shares of HIG stock opened at $116.72 on Thursday. The Hartford Financial Services Group, Inc. has a twelve month low of $72.87 and a twelve month high of $123.23. The company has a quick ratio of 0.32, a current ratio of 0.32 and a debt-to-equity ratio of 0.26. The business has a fifty day simple moving average of $116.31 and a 200 day simple moving average of $107.75. The company has a market cap of $33.84 billion, a P/E ratio of 11.70, a P/E/G ratio of 0.91 and a beta of 0.94.

The Hartford Financial Services Group declared that its Board of Directors has approved a stock buyback plan on Thursday, July 25th that authorizes the company to repurchase $3.30 billion in shares. This repurchase authorization authorizes the insurance provider to buy up to 10.9% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board of directors believes its shares are undervalued.

The Hartford Financial Services Group Increases Dividend

The business 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 $0.52 dividend. This is an increase from The Hartford Financial Services Group’s previous quarterly dividend of $0.47. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.78%. The ex-dividend date is Monday, December 2nd. The Hartford Financial Services Group’s dividend payout ratio (DPR) is presently 18.84%.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the company. Argus upgraded The Hartford Financial Services Group to a “strong-buy” rating in a research note on Friday, August 2nd. JPMorgan Chase & Co. boosted their target price on shares of The Hartford Financial Services Group from $122.00 to $125.00 and gave the company a “neutral” rating in a research report on Friday, October 25th. Bank of America raised 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 report on Thursday, October 10th. Piper Sandler boosted their price objective on shares of The Hartford Financial Services Group from $112.00 to $125.00 and gave the company an “overweight” rating in a report on Monday, July 29th. Finally, Barclays started 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. Ten equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $120.88.

The Hartford Financial Services Group 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.