Mirae Asset Global Investments Co. Ltd. Acquires 18,615 Shares of The Hartford Financial Services Group, Inc. (NYSE:HIG)

Mirae Asset Global Investments Co. Ltd. increased its holdings in The Hartford Financial Services Group, Inc. (NYSE:HIG) by 40.5% in the third quarter, HoldingsChannel reports. The firm owned 64,610 shares of the insurance provider’s stock after purchasing an additional 18,615 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in The Hartford Financial Services Group were worth $7,545,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Dimensional Fund Advisors LP boosted its stake in shares of The Hartford Financial Services Group by 1.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 5,809,358 shares of the insurance provider’s stock worth $584,177,000 after acquiring an additional 69,007 shares in the last quarter. Nordea Investment Management AB boosted its position in The Hartford Financial Services Group by 7.9% during the first quarter. Nordea Investment Management AB now owns 3,191,914 shares of the insurance provider’s stock worth $328,320,000 after purchasing an additional 233,742 shares during the period. AQR Capital Management LLC grew its holdings in The Hartford Financial Services Group by 4.9% during the second quarter. AQR Capital Management LLC now owns 1,497,960 shares of the insurance provider’s stock valued at $150,605,000 after purchasing an additional 70,018 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its position in shares of The Hartford Financial Services Group by 2.4% in the second quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 1,367,400 shares of the insurance provider’s stock valued at $137,478,000 after purchasing an additional 31,806 shares during the period. Finally, Bahl & Gaynor Inc. lifted its stake in shares of The Hartford Financial Services Group by 3.4% in the second quarter. Bahl & Gaynor Inc. now owns 1,229,133 shares of the insurance provider’s stock worth $123,577,000 after buying an additional 40,400 shares during the last quarter. 93.42% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

HIG has been the topic of several recent analyst reports. Wells Fargo & Company lifted their target price on shares of The Hartford Financial Services Group from $122.00 to $134.00 and gave the stock an “overweight” rating in a report on Tuesday, September 17th. JPMorgan Chase & Co. boosted their price objective on The Hartford Financial Services Group from $122.00 to $125.00 and gave the stock a “neutral” rating in a research report on Friday. Argus upgraded The Hartford Financial Services Group to a “strong-buy” rating in a research note on Friday, August 2nd. Morgan Stanley dropped their price target on The Hartford Financial Services Group from $109.00 to $107.00 and set an “equal weight” rating on the stock in a research report on Wednesday, July 10th. Finally, UBS Group increased their price objective on The Hartford Financial Services Group from $134.00 to $135.00 and gave the company a “buy” rating in a research report on Tuesday, October 15th. Ten equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $120.76.

The Hartford Financial Services Group Trading Up 1.0 %

HIG stock opened at $113.39 on Tuesday. The company has a current ratio of 0.32, a quick ratio of 0.32 and a debt-to-equity ratio of 0.28. The business’s 50 day moving average is $116.35 and its 200-day moving average is $107.10. The Hartford Financial Services Group, Inc. has a 1-year low of $71.16 and a 1-year high of $123.23. The firm has a market cap of $33.54 billion, a P/E ratio of 12.89, a P/E/G ratio of 0.99 and a beta of 0.93.

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 issued a $0.52 dividend. This is a positive change from The Hartford Financial Services Group’s previous quarterly dividend of $0.47. The ex-dividend date is Monday, December 2nd. This represents a $2.08 annualized dividend and a dividend yield of 1.83%. The Hartford Financial Services Group’s dividend payout ratio is presently 23.64%.

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

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.