Advisor Resource Council Acquires Shares of 5,794 The Hartford Financial Services Group, Inc. (NYSE:HIG)

Advisor Resource Council purchased a new position in shares of The Hartford Financial Services Group, Inc. (NYSE:HIG - Free Report) in the third quarter, according to its most recent disclosure with the SEC. The firm purchased 5,794 shares of the insurance provider's stock, valued at approximately $681,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. New Covenant Trust Company N.A. acquired a new position in shares of The Hartford Financial Services Group during the 1st quarter valued at about $26,000. DT Investment Partners LLC acquired a new stake in The Hartford Financial Services Group in the 3rd quarter valued at approximately $26,000. Quest Partners LLC grew its holdings in The Hartford Financial Services Group by 2,750.0% in the 2nd 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 acquired a new stake in The Hartford Financial Services Group in the 2nd quarter valued at approximately $30,000. Finally, Family Firm Inc. acquired a new stake in The Hartford Financial Services Group in the 2nd quarter valued at approximately $31,000. 93.42% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts have issued reports on HIG shares. UBS Group raised their target price on The Hartford Financial Services Group from $134.00 to $135.00 and gave the company a "buy" rating in a report on Tuesday, October 15th. Royal Bank of Canada lifted their price objective on The Hartford Financial Services Group from $105.00 to $115.00 and gave the stock a "sector perform" rating in a report on Monday, July 29th. Barclays assumed coverage on The Hartford Financial Services Group in a report on Wednesday, September 4th. They set an "equal weight" rating and a $130.00 price objective on the stock. Keefe, Bruyette & Woods lifted their price objective on The Hartford Financial Services Group from $133.00 to $135.00 and gave the stock an "outperform" rating in a report on Tuesday, October 29th. Finally, Argus upgraded The Hartford Financial Services Group to a "strong-buy" rating in a research report on Friday, August 2nd. Ten equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $120.88.

The Hartford Financial Services Group Trading Down 1.3 %

Shares of NYSE HIG traded down $1.53 during midday trading on Thursday, hitting $115.19. The stock had a trading volume of 1,152,396 shares, compared to its average volume of 1,607,538. The company's 50-day simple moving average is $116.31 and its 200 day simple moving average is $107.75. The firm has a market cap of $33.39 billion, a P/E ratio of 11.54, a price-to-earnings-growth ratio of 0.91 and a beta of 0.94. The Hartford Financial Services Group, Inc. has a fifty-two week low of $72.87 and a fifty-two week high of $123.23. 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 announced a quarterly dividend, which will be paid on Friday, January 3rd. Stockholders of record on Monday, December 2nd will be paid a $0.52 dividend. 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 1.81%. The ex-dividend date of this dividend is Monday, December 2nd. The Hartford Financial Services Group's dividend payout ratio (DPR) is 18.84%.

The Hartford Financial Services Group announced that its Board of Directors has approved a share 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 stock through open market purchases. Stock repurchase plans are typically an indication that the company's board of directors 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.