Applied Finance Capital Management LLC Increases Holdings in The Hartford Financial Services Group, Inc. (NYSE:HIG)

Applied Finance Capital Management LLC increased its position in The Hartford Financial Services Group, Inc. (NYSE:HIG - Free Report) by 414.2% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 32,114 shares of the insurance provider's stock after buying an additional 25,868 shares during the quarter. Applied Finance Capital Management LLC's holdings in The Hartford Financial Services Group were worth $3,777,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in the business. International Assets Investment Management LLC raised its position 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 worth $816,310,000 after purchasing an additional 691,900 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its stake in shares of The Hartford Financial Services Group by 72.0% in the first 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 during the period. Swedbank AB acquired a new position in shares of The Hartford Financial Services Group in the first quarter worth approximately $53,980,000. Healthcare of Ontario Pension Plan Trust Fund boosted its holdings in The Hartford Financial Services Group by 301.2% in the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 333,000 shares of the insurance provider's stock valued at $34,316,000 after acquiring an additional 250,000 shares during the last quarter. Finally, Robeco Institutional Asset Management B.V. raised its holdings in The Hartford Financial Services Group by 22.7% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 1,199,542 shares of the insurance provider's stock worth $141,078,000 after purchasing an additional 221,778 shares during the last quarter. Institutional investors own 93.42% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on HIG shares. Wells Fargo & Company upped their price objective on shares of 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. Argus upgraded The Hartford Financial Services Group to a "strong-buy" rating in a report on Friday, August 2nd. StockNews.com downgraded The Hartford Financial Services Group from a "buy" rating to a "hold" rating in a research note on Thursday. JPMorgan Chase & Co. upped their target price on The Hartford Financial Services Group from $122.00 to $125.00 and gave the company a "neutral" rating in a research report on Friday, October 25th. Finally, 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. Eleven research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, The Hartford Financial Services Group has an average rating of "Hold" and an average price target of $120.88.

The Hartford Financial Services Group Stock Up 1.9 %

HIG traded up $2.24 during trading on Friday, hitting $117.43. 1,615,147 shares of the company's stock were exchanged, compared to its average volume of 1,609,636. The stock has a market cap of $34.04 billion, a P/E ratio of 11.77, a PEG ratio of 0.96 and a beta of 0.94. The business's 50 day moving average is $116.31 and its two-hundred day moving average is $107.92. The Hartford Financial Services Group, Inc. has a fifty-two week low of $73.12 and a fifty-two week high of $123.23. The company has a quick ratio of 0.32, a current ratio of 0.32 and a debt-to-equity ratio of 0.26.

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

The Hartford Financial Services Group Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 3rd. Investors of record on Monday, December 2nd will be given a $0.52 dividend. This is a boost from The Hartford Financial Services Group's previous quarterly dividend of $0.47. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $2.08 annualized dividend and a yield of 1.77%. The Hartford Financial Services Group's dividend payout ratio (DPR) is presently 18.84%.

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.