The Hartford Financial Services Group, Inc. (NYSE:HIG) Stock Holdings Boosted by Wealth Enhancement Advisory Services LLC

Wealth Enhancement Advisory Services LLC raised its position in shares of The Hartford Financial Services Group, Inc. (NYSE:HIG) by 1.6% in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 74,170 shares of the insurance provider’s stock after purchasing an additional 1,178 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in The Hartford Financial Services Group were worth $8,723,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in HIG. International Assets Investment Management LLC boosted its stake in The Hartford Financial Services Group by 31,680.4% during the 3rd quarter. International Assets Investment Management LLC now owns 694,084 shares of the insurance provider’s stock valued at $816,310,000 after purchasing an additional 691,900 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its stake in shares of The Hartford Financial Services Group by 72.0% during the 1st quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 1,335,594 shares of the insurance provider’s stock worth $137,633,000 after acquiring an additional 559,019 shares in the last quarter. Swedbank AB bought a new stake in shares of The Hartford Financial Services Group during the 1st quarter worth $53,980,000. Healthcare of Ontario Pension Plan Trust Fund boosted its stake in shares of The Hartford Financial Services Group by 301.2% during the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 333,000 shares of the insurance provider’s stock worth $34,316,000 after acquiring an additional 250,000 shares in the last quarter. Finally, Nordea Investment Management AB boosted its stake in shares of The Hartford Financial Services Group by 7.9% during the 1st quarter. Nordea Investment Management AB now owns 3,191,914 shares of the insurance provider’s stock worth $328,320,000 after acquiring an additional 233,742 shares in the last quarter. 93.42% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

HIG has been the subject of several research reports. Keefe, Bruyette & Woods raised their price objective on The Hartford Financial Services Group from $133.00 to $135.00 and gave the stock an “outperform” rating in a research note on Tuesday. Barclays initiated coverage on The Hartford Financial Services Group in a report on Wednesday, September 4th. They issued an “equal weight” rating and a $130.00 target price for the company. Piper Sandler increased their target price on 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. Morgan Stanley reduced their target price on The Hartford Financial Services Group from $109.00 to $107.00 and set an “equal weight” rating for the company in a report on Wednesday, July 10th. Finally, Bank of America increased their target price on The Hartford Financial Services Group from $121.00 to $124.00 and gave the company a “neutral” rating in a report on Thursday, October 10th. Ten research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $120.88.

The Hartford Financial Services Group Price Performance

NYSE HIG opened at $112.14 on Wednesday. The Hartford Financial Services Group, Inc. has a fifty-two week low of $71.16 and a fifty-two week high of $123.23. The stock’s 50-day moving average is $116.37 and its two-hundred day moving average is $107.20. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.32 and a quick ratio of 0.32. The firm has a market cap of $33.17 billion, a P/E ratio of 12.74, a price-to-earnings-growth ratio of 0.99 and a beta of 0.93.

The Hartford Financial Services Group Increases Dividend

The firm also recently declared 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. This is an increase 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 1.85%. The ex-dividend date is Monday, December 2nd. The Hartford Financial Services Group’s dividend payout ratio (DPR) is currently 23.64%.

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

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.