The Hartford Financial Services Group, Inc. (NYSE:HIG) Shares Sold by Sigma Planning Corp

Sigma Planning Corp reduced its stake in shares of The Hartford Financial Services Group, Inc. (NYSE:HIG) by 19.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,825 shares of the insurance provider’s stock after selling 442 shares during the period. Sigma Planning Corp’s holdings in The Hartford Financial Services Group were worth $215,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Concurrent Investment Advisors LLC acquired a new position in The Hartford Financial Services Group in the second quarter worth about $213,000. Skandinaviska Enskilda Banken AB publ increased its holdings in shares of 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 last quarter. Atria Investments Inc acquired a new stake in shares of The Hartford Financial Services Group during the 1st quarter valued at approximately $1,328,000. Lecap Asset Management Ltd. bought a new position in The Hartford Financial Services Group during the third quarter worth $633,000. Finally, Canada Pension Plan Investment Board boosted its holdings in The Hartford Financial Services Group by 94.4% in the first quarter. Canada Pension Plan Investment Board now owns 195,017 shares of the insurance provider’s stock worth $20,097,000 after purchasing an additional 94,717 shares during the period. Institutional investors own 93.42% of the company’s stock.

Wall Street Analyst Weigh In

HIG has been the topic of a number of research reports. 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 report on Wednesday, October 9th. Argus upgraded The Hartford Financial Services Group to a “strong-buy” rating in a research note on Friday, August 2nd. Piper Sandler increased their price target 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. Bank of America boosted 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, Keefe, Bruyette & Woods raised their target price on The Hartford Financial Services Group from $133.00 to $135.00 and gave the company an “outperform” rating in a research note on Tuesday, October 29th. Nine equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $120.88.

The Hartford Financial Services Group Trading Up 1.3 %

The Hartford Financial Services Group stock opened at $117.95 on Monday. The Hartford Financial Services Group, Inc. has a 12-month low of $75.36 and a 12-month high of $123.23. The stock has a market capitalization of $34.19 billion, a PE ratio of 11.82, a price-to-earnings-growth ratio of 0.97 and a beta of 0.94. The firm has a 50 day simple moving average of $116.51 and a 200-day simple moving average of $108.75. 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 Increases Dividend

The company 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 dividend of $0.52 per share. The ex-dividend date 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 1.76%. The Hartford Financial Services Group’s dividend payout ratio (DPR) is 18.84%.

The Hartford Financial Services Group declared that its Board of Directors has authorized 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 reacquire up to 10.9% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s leadership 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.