The Hartford Financial Services Group, Inc. (NYSE:HIG) Shares Sold by Prudent Man Advisors LLC

Prudent Man Advisors LLC cut its position in shares of The Hartford Financial Services Group, Inc. (NYSE:HIG) by 16.0% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 7,837 shares of the insurance provider’s stock after selling 1,488 shares during the quarter. Prudent Man Advisors LLC’s holdings in The Hartford Financial Services Group were worth $922,000 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. New Covenant Trust Company N.A. purchased a new position in shares of The Hartford Financial Services Group in the first quarter valued at $26,000. DT Investment Partners LLC purchased a new position in The Hartford Financial Services Group during the 3rd quarter valued at about $26,000. Quest Partners LLC raised its position in The Hartford Financial Services Group by 2,750.0% during the second quarter. Quest Partners LLC now owns 285 shares of the insurance provider’s stock worth $29,000 after acquiring an additional 275 shares during the last quarter. Bank & Trust Co purchased a new stake in shares of The Hartford Financial Services Group in the second quarter valued at about $30,000. Finally, Family Firm Inc. purchased a new stake in shares of The Hartford Financial Services Group in the second quarter valued at about $31,000. 93.42% of the stock is currently owned by hedge funds and other institutional investors.

The Hartford Financial Services Group Trading Up 1.3 %

HIG stock opened at $117.95 on Monday. 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 company has a market cap of $34.19 billion, a price-to-earnings ratio of 11.82, a PEG ratio of 0.97 and a beta of 0.94. The business has a fifty day simple moving average of $116.51 and a 200-day simple moving average of $108.75. The Hartford Financial Services Group, Inc. has a 52 week low of $75.36 and a 52 week high of $123.23.

The Hartford Financial Services Group declared that its board has authorized a stock 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 often 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 declared a quarterly dividend, which will be paid on Friday, January 3rd. Shareholders of record on Monday, December 2nd will be paid a dividend of $0.52 per share. The ex-dividend date of this dividend is Monday, December 2nd. This is a positive change from The Hartford Financial Services Group’s previous quarterly dividend of $0.47. This represents a $2.08 annualized dividend and a yield of 1.76%. The Hartford Financial Services Group’s dividend payout ratio is currently 18.84%.

Wall Street Analysts Forecast Growth

HIG has been the subject of several research reports. Piper Sandler lifted their price objective on The Hartford Financial Services Group from $112.00 to $125.00 and gave the stock an “overweight” rating in a research report on Monday, July 29th. Keefe, Bruyette & Woods upped their price objective on The Hartford Financial Services Group from $133.00 to $135.00 and gave the company an “outperform” rating in a research report on Tuesday, October 29th. Wells Fargo & Company increased their price objective on The Hartford Financial Services Group from $122.00 to $134.00 and gave the company an “overweight” rating in a research note on Tuesday, September 17th. 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. Finally, Argus raised shares of The Hartford Financial Services Group to a “strong-buy” rating in a research note on Friday, August 2nd. 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 stock. According to MarketBeat.com, The Hartford Financial Services Group currently has a consensus rating of “Moderate Buy” and an average 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.