Asset Management One Co. Ltd. Acquires 16,004 Shares of The Hartford Financial Services Group, Inc. (NYSE:HIG)

Asset Management One Co. Ltd. boosted its position in The Hartford Financial Services Group, Inc. (NYSE:HIG - Free Report) by 12.1% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 148,043 shares of the insurance provider's stock after purchasing an additional 16,004 shares during the period. Asset Management One Co. Ltd. owned about 0.05% of The Hartford Financial Services Group worth $17,411,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of HIG. Norden Group LLC purchased a new stake in The Hartford Financial Services Group in the 1st quarter worth about $786,000. BI Asset Management Fondsmaeglerselskab A S grew its stake in The Hartford Financial Services Group by 122.9% in the 1st quarter. BI Asset Management Fondsmaeglerselskab A S now owns 19,659 shares of the insurance provider's stock worth $2,026,000 after buying an additional 10,840 shares in the last quarter. Larson Financial Group LLC increased its holdings in shares of The Hartford Financial Services Group by 2,625.0% in the 1st quarter. Larson Financial Group LLC now owns 872 shares of the insurance provider's stock worth $90,000 after buying an additional 840 shares during the last quarter. Catalina Capital Group LLC purchased a new stake in shares of The Hartford Financial Services Group during the 1st quarter valued at $240,000. Finally, Geneos Wealth Management Inc. lifted its holdings in shares of The Hartford Financial Services Group by 3.2% during the 1st quarter. Geneos Wealth Management Inc. now owns 3,990 shares of the insurance provider's stock worth $411,000 after acquiring an additional 123 shares during the last quarter. 93.42% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of analysts recently weighed in on HIG shares. Keefe, Bruyette & Woods boosted their target price on The Hartford Financial Services Group from $133.00 to $135.00 and gave the stock an "outperform" rating in a research report on Tuesday, October 29th. Argus raised The Hartford Financial Services Group to a "strong-buy" rating in a research note on Friday, August 2nd. Bank of America boosted their price objective on shares of 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. Wells Fargo & Company raised their target price on The Hartford Financial Services Group from $122.00 to $134.00 and gave the stock an "overweight" rating in a research note on Tuesday, September 17th. Finally, Barclays began coverage on The Hartford Financial Services Group in a research report on Wednesday, September 4th. They set an "equal weight" rating and a $130.00 price target for the company. Ten analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $120.88.

The Hartford Financial Services Group Stock Up 4.3 %

The Hartford Financial Services Group stock traded up $4.77 during mid-day trading on Wednesday, hitting $116.40. The company had a trading volume of 1,248,031 shares, compared to its average volume of 1,604,709. The Hartford Financial Services Group, Inc. has a 12 month low of $72.87 and a 12 month high of $123.23. The company has a current ratio of 0.32, a quick ratio of 0.32 and a debt-to-equity ratio of 0.26. The stock's 50 day moving average price is $116.26 and its two-hundred day moving average price is $107.68. The company has a market capitalization of $33.74 billion, a PE ratio of 11.19, a price-to-earnings-growth ratio of 0.90 and a beta of 0.94.

The Hartford Financial Services Group Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 3rd. Shareholders of record on Monday, December 2nd will be issued a $0.52 dividend. 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. This represents a $2.08 annualized dividend and a yield of 1.79%. The Hartford Financial Services Group's payout ratio is 18.84%.

The Hartford Financial Services Group declared that its Board of Directors has authorized a share repurchase program on Thursday, July 25th that permits the company to repurchase $3.30 billion in shares. This repurchase authorization permits the insurance provider to repurchase up to 10.9% of its stock through open market purchases. Stock repurchase programs are often an indication that the company's leadership believes its shares are undervalued.

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.