The Hartford Financial Services Group, Inc. (NYSE:HIG) Shares Bought by Empowered Funds LLC

Empowered Funds LLC boosted its stake in The Hartford Financial Services Group, Inc. (NYSE:HIG - Free Report) by 34.0% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 17,658 shares of the insurance provider's stock after purchasing an additional 4,482 shares during the quarter. Empowered Funds LLC's holdings in The Hartford Financial Services Group were worth $2,077,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. New Covenant Trust Company N.A. purchased a new stake in The Hartford Financial Services Group during the first quarter valued at $26,000. DT Investment Partners LLC purchased a new stake in The Hartford Financial Services Group during the 3rd quarter valued at $26,000. Quest Partners LLC lifted its position in The Hartford Financial Services Group by 2,750.0% in the second quarter. Quest Partners LLC now owns 285 shares of the insurance provider's stock worth $29,000 after buying an additional 275 shares during the last quarter. Bank & Trust Co purchased a new position in The Hartford Financial Services Group during the second quarter worth $30,000. Finally, Family Firm Inc. purchased a new position in The Hartford Financial Services Group during the second quarter worth $31,000. Hedge funds and other institutional investors own 93.42% of the company's stock.

The Hartford Financial Services Group Stock Performance

HIG stock opened at $118.19 on Thursday. The Hartford Financial Services Group, Inc. has a one year low of $76.25 and a one year high of $123.23. The firm has a 50-day simple moving average of $116.62 and a two-hundred day simple moving average of $109.10. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.32 and a current ratio of 0.32. The firm has a market cap of $34.26 billion, a price-to-earnings ratio of 11.84, a PEG ratio of 0.97 and a beta of 0.94.

The Hartford Financial Services Group Increases Dividend

The firm 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 dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 1.76%. The ex-dividend date of this dividend is Monday, December 2nd. This is a positive change from The Hartford Financial Services Group's previous quarterly dividend of $0.47. The Hartford Financial Services Group's dividend payout ratio is currently 20.84%.

The Hartford Financial Services Group announced that its board has approved a stock repurchase program on Thursday, July 25th that authorizes the company to buyback $3.30 billion in outstanding shares. This buyback authorization authorizes the insurance provider to purchase up to 10.9% of its shares through open market purchases. Shares buyback programs are usually an indication that the company's leadership believes its shares are undervalued.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on HIG. Jefferies Financial Group lifted their price target on shares of 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. Bank of America upped their target price on The Hartford Financial Services Group from $121.00 to $124.00 and gave the company a "neutral" rating in a research note on Thursday, October 10th. Wells Fargo & Company raised their price target 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. StockNews.com upgraded The Hartford Financial Services Group from a "hold" rating to a "buy" rating in a research note on Friday, November 15th. Finally, Keefe, Bruyette & Woods lifted 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 report on Tuesday, October 29th. Nine equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $120.88.

Insiders Place Their Bets

In other The Hartford Financial Services Group news, EVP Adin M. Tooker sold 6,865 shares of The Hartford Financial Services Group stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $117.04, for a total transaction of $803,479.60. Following the completion of the sale, the executive vice president now directly owns 25,820 shares in the company, valued at approximately $3,021,972.80. The trade was a 21.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Corporate insiders own 1.60% of the company's stock.

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.