DekaBank Deutsche Girozentrale Sells 1,773 Shares of The Hartford Financial Services Group, Inc. (NYSE:HIG)

DekaBank Deutsche Girozentrale lowered its stake in shares of The Hartford Financial Services Group, Inc. (NYSE:HIG) by 1.3% in the third quarter, Holdings Channel reports. The institutional investor owned 138,735 shares of the insurance provider’s stock after selling 1,773 shares during the period. DekaBank Deutsche Girozentrale’s holdings in The Hartford Financial Services Group were worth $16,100,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of HIG. New Covenant Trust Company N.A. purchased a new stake in shares of The Hartford Financial Services Group during the 1st quarter worth $26,000. DT Investment Partners LLC bought a new position in The Hartford Financial Services Group in the third quarter worth about $26,000. Quest Partners LLC lifted its position in shares of 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 valued at $29,000 after buying an additional 275 shares during the last quarter. Bank & Trust Co bought a new stake in shares of The Hartford Financial Services Group in the 2nd quarter valued at about $30,000. Finally, Family Firm Inc. bought a new position in shares of The Hartford Financial Services Group during the 2nd quarter worth approximately $31,000. Institutional investors own 93.42% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have weighed in on HIG shares. Argus upgraded shares of The Hartford Financial Services Group to a “strong-buy” rating in a research note on Friday, August 2nd. Jefferies Financial Group boosted their target price on The Hartford Financial Services Group from $113.00 to $127.00 and gave the stock a “hold” rating in a research note on Wednesday, October 9th. Wells Fargo & Company increased their price target 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. Piper Sandler boosted 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 note on Monday, July 29th. Finally, Keefe, Bruyette & Woods increased their price objective on shares of The Hartford Financial Services Group from $133.00 to $135.00 and gave the company an “outperform” rating in a research report on Tuesday. Ten investment 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 stock. Based on data from MarketBeat, The Hartford Financial Services Group currently has an average rating of “Moderate Buy” and an average target price of $120.88.

The Hartford Financial Services Group Trading Down 1.1 %

Shares of The Hartford Financial Services Group stock opened at $112.14 on Wednesday. The stock has a market cap of $33.17 billion, a PE ratio of 12.74, a price-to-earnings-growth ratio of 0.99 and a beta of 0.93. The firm has a fifty day moving average price of $116.37 and a 200 day moving average price of $107.20. The Hartford Financial Services Group, Inc. has a 1 year low of $71.16 and a 1 year high of $123.23. 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 Hartford Financial Services Group announced that its Board of Directors has initiated a share buyback program on Thursday, July 25th that permits the company to buyback $3.30 billion in outstanding shares. This buyback authorization permits the insurance provider to repurchase up to 10.9% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board believes its stock is undervalued.

The Hartford Financial Services Group Increases Dividend

The business also recently disclosed 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 represents a $2.08 annualized dividend and a dividend yield of 1.85%. The ex-dividend date of this dividend is Monday, December 2nd. This is a boost from The Hartford Financial Services Group’s previous quarterly dividend of $0.47. The Hartford Financial Services Group’s payout ratio is 23.64%.

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.