Los Angeles Capital Management LLC Trims Position in The Hartford Financial Services Group, Inc. (NYSE:HIG)

Los Angeles Capital Management LLC decreased its holdings in shares of The Hartford Financial Services Group, Inc. (NYSE:HIG - Free Report) by 21.2% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 85,088 shares of the insurance provider's stock after selling 22,845 shares during the quarter. Los Angeles Capital Management LLC's holdings in The Hartford Financial Services Group were worth $10,007,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently bought and sold shares of HIG. Tyler Stone Wealth Management grew its stake in shares of The Hartford Financial Services Group by 241.0% in the 3rd quarter. Tyler Stone Wealth Management now owns 1,879 shares of the insurance provider's stock valued at $221,000 after purchasing an additional 1,328 shares during the period. Axxcess Wealth Management LLC bought a new stake in The Hartford Financial Services Group during the 3rd quarter worth approximately $205,000. Verus Financial Partners Inc. bought a new stake in The Hartford Financial Services Group during the 3rd quarter worth approximately $205,000. Applied Finance Capital Management LLC grew its position in The Hartford Financial Services Group by 414.2% during the 3rd quarter. Applied Finance Capital Management LLC now owns 32,114 shares of the insurance provider's stock worth $3,777,000 after acquiring an additional 25,868 shares during the last quarter. Finally, Source Financial Advisors LLC bought a new stake in The Hartford Financial Services Group during the 3rd quarter worth approximately $223,000. Hedge funds and other institutional investors own 93.42% of the company's stock.

The Hartford Financial Services Group Price Performance

Shares of NYSE:HIG traded up $0.25 during trading on Tuesday, hitting $117.95. 355,321 shares of the company were exchanged, compared to its average volume of 1,599,350. The company has a market capitalization of $34.19 billion, a P/E ratio of 11.79, a price-to-earnings-growth ratio of 0.96 and a beta of 0.94. The Hartford Financial Services Group, Inc. has a 1-year low of $73.92 and a 1-year high of $123.23. The business's 50 day moving average is $116.35 and its 200-day moving average is $108.17. 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 Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 3rd. Stockholders of record on Monday, December 2nd will be paid a dividend of $0.52 per share. The ex-dividend date is Monday, December 2nd. This represents a $2.08 annualized dividend and a dividend yield of 1.76%. 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 (DPR) is presently 20.84%.

The Hartford Financial Services Group announced that its board has authorized a stock 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 repurchase 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.

Analysts Set New Price Targets

A number of research analysts have commented on the company. Bank of America increased their price objective on 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. Argus upgraded The Hartford Financial Services Group to a "strong-buy" rating in a research report on Friday, August 2nd. Jefferies Financial Group increased their price objective on The Hartford Financial Services Group from $113.00 to $127.00 and gave the company a "hold" rating in a research report on Wednesday, October 9th. Keefe, Bruyette & Woods lifted their target price on 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. Finally, StockNews.com downgraded The Hartford Financial Services Group from a "buy" rating to a "hold" rating in a research report on Thursday, November 7th. Eleven investment 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's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $120.88.

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.