KBC Group NV Lowers Stake in The Hartford Financial Services Group, Inc. (NYSE:HIG)

KBC Group NV lessened its holdings in The Hartford Financial Services Group, Inc. (NYSE:HIG - Free Report) by 31.3% during the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,032,240 shares of the insurance provider's stock after selling 469,425 shares during the period. KBC Group NV owned 0.36% of The Hartford Financial Services Group worth $121,402,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP raised its holdings in shares of The Hartford Financial Services Group by 1.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 5,809,358 shares of the insurance provider's stock valued at $584,177,000 after acquiring an additional 69,007 shares in the last quarter. AQR Capital Management LLC raised its stake in The Hartford Financial Services Group by 4.9% in the second quarter. AQR Capital Management LLC now owns 1,497,960 shares of the insurance provider's stock valued at $150,605,000 after purchasing an additional 70,018 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its position in The Hartford Financial Services Group by 2.4% during the second quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 1,367,400 shares of the insurance provider's stock valued at $137,478,000 after purchasing an additional 31,806 shares during the last quarter. Bahl & Gaynor Inc. grew its stake in The Hartford Financial Services Group by 3.4% in the 2nd quarter. Bahl & Gaynor Inc. now owns 1,229,133 shares of the insurance provider's stock worth $123,577,000 after buying an additional 40,400 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. increased its holdings in shares of The Hartford Financial Services Group by 22.7% in 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 buying an additional 221,778 shares during the last quarter. Institutional investors own 93.42% of the company's stock.

Analyst Ratings Changes

A number of analysts have recently issued reports on HIG shares. Bank of America lifted their price objective on shares of The Hartford Financial Services Group from $121.00 to $124.00 and gave the stock a "neutral" rating in a report on Thursday, October 10th. Royal Bank of Canada upped 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. Argus raised The Hartford Financial Services Group to a "strong-buy" rating in a report on Friday, August 2nd. Jefferies Financial Group upped their target price on 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. Finally, Barclays started coverage on shares of The Hartford Financial Services Group in a research note on Wednesday, September 4th. They set an "equal weight" rating and a $130.00 price target on the stock. Eleven equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $120.88.

The Hartford Financial Services Group Trading Down 0.8 %

Shares of The Hartford Financial Services Group stock traded down $0.89 during trading on Thursday, reaching $116.75. 430,163 shares of the stock were exchanged, compared to its average volume of 1,596,715. The Hartford Financial Services Group, Inc. has a 1 year low of $74.69 and a 1 year high of $123.23. The firm has a market cap of $33.84 billion, a price-to-earnings ratio of 11.70, a price-to-earnings-growth ratio of 0.97 and a beta of 0.94. 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 stock's fifty day moving average is $116.41 and its 200 day moving average is $108.39.

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 given a $0.52 dividend. This is a positive change from The Hartford Financial Services Group's previous quarterly dividend of $0.47. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.78%. The ex-dividend date is Monday, December 2nd. The Hartford Financial Services Group's dividend payout ratio (DPR) is currently 18.84%.

The Hartford Financial Services Group announced that its Board of Directors has approved a share repurchase program on Thursday, July 25th that allows the company to repurchase $3.30 billion in shares. This repurchase authorization allows the insurance provider to buy up to 10.9% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company's leadership 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.