Equity Investment Corp Sells 445,666 Shares of The Hartford Financial Services Group, Inc. (NYSE:HIG)

Equity Investment Corp decreased its position in The Hartford Financial Services Group, Inc. (NYSE:HIG - Free Report) by 43.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 579,382 shares of the insurance provider's stock after selling 445,666 shares during the quarter. Equity Investment Corp owned about 0.20% of The Hartford Financial Services Group worth $68,141,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the company. Concurrent Investment Advisors LLC acquired a new stake in The Hartford Financial Services Group in the 2nd quarter valued at about $213,000. Skandinaviska Enskilda Banken AB publ boosted its holdings in The Hartford Financial Services Group by 27.6% during the second quarter. Skandinaviska Enskilda Banken AB publ now owns 221,896 shares of the insurance provider's stock worth $22,309,000 after buying an additional 48,004 shares in the last quarter. Atria Investments Inc acquired a new position in The Hartford Financial Services Group in the first quarter worth approximately $1,328,000. Lecap Asset Management Ltd. bought a new position in shares of The Hartford Financial Services Group in the third quarter valued at $633,000. Finally, Canada Pension Plan Investment Board lifted its position in shares of The Hartford Financial Services Group by 94.4% during the 1st quarter. Canada Pension Plan Investment Board now owns 195,017 shares of the insurance provider's stock valued at $20,097,000 after acquiring an additional 94,717 shares during the last quarter. Institutional investors own 93.42% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on HIG shares. Royal Bank of Canada increased their price target on The Hartford Financial Services Group from $105.00 to $115.00 and gave the company a "sector perform" rating in a research report on Monday, July 29th. Keefe, Bruyette & Woods raised their target price on shares of 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. UBS Group boosted their price target on shares of 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. Wells Fargo & Company lifted their price objective on shares of The Hartford Financial Services Group from $122.00 to $134.00 and gave the stock an "overweight" rating in a research report on Tuesday, September 17th. Finally, Piper Sandler increased their target price on The Hartford Financial Services Group from $112.00 to $125.00 and gave the company an "overweight" rating in a report on Monday, July 29th. Nine investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, The Hartford Financial Services Group presently has an average rating of "Moderate Buy" and an average price target of $120.88.

The Hartford Financial Services Group Stock Up 0.2 %

NYSE HIG traded up $0.19 during trading on Monday, hitting $118.14. 875,825 shares of the company traded hands, compared to its average volume of 1,595,614. The Hartford Financial Services Group, Inc. has a 12 month low of $75.83 and a 12 month high of $123.23. The business has a fifty day simple moving average of $116.53 and a 200 day simple moving average of $108.90. The company has a market capitalization of $34.25 billion, a P/E ratio of 11.84, a PEG ratio of 0.97 and a beta of 0.94. 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 Hartford Financial Services Group declared that its Board of Directors has approved a stock repurchase 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 stock through open market purchases. Stock buyback plans are usually an indication that the company's leadership 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. Investors of record on Monday, December 2nd will be paid a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.76%. This is an increase from The Hartford Financial Services Group's previous quarterly dividend of $0.47. The ex-dividend date of this dividend is Monday, December 2nd. The Hartford Financial Services Group's dividend payout ratio (DPR) is presently 18.84%.

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.