The Hartford Financial Services Group, Inc. (NYSE:HIG) Holdings Lessened by Mount Lucas Management LP

Mount Lucas Management LP reduced its holdings in shares of The Hartford Financial Services Group, Inc. (NYSE:HIG - Free Report) by 51.0% during the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 38,431 shares of the insurance provider's stock after selling 40,050 shares during the period. The Hartford Financial Services Group makes up 1.5% of Mount Lucas Management LP's investment portfolio, making the stock its 7th largest holding. Mount Lucas Management LP's holdings in The Hartford Financial Services Group were worth $4,520,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in HIG. Dimensional Fund Advisors LP grew its position in 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 buying an additional 69,007 shares during the last quarter. AQR Capital Management LLC increased its stake in shares of The Hartford Financial Services Group by 4.9% during the second quarter. AQR Capital Management LLC now owns 1,497,960 shares of the insurance provider's stock worth $150,605,000 after acquiring an additional 70,018 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its holdings 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 worth $137,478,000 after purchasing an additional 31,806 shares in the last quarter. Bahl & Gaynor Inc. raised its holdings in The Hartford Financial Services Group by 3.4% during the second quarter. Bahl & Gaynor Inc. now owns 1,229,133 shares of the insurance provider's stock worth $123,577,000 after purchasing an additional 40,400 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. lifted its position in The Hartford Financial Services Group by 22.7% in the third quarter. Robeco Institutional Asset Management B.V. now owns 1,199,542 shares of the insurance provider's stock valued at $141,078,000 after purchasing an additional 221,778 shares during the period. 93.42% of the stock is owned by hedge funds and other institutional investors.

The Hartford Financial Services Group Trading Up 1.3 %

NYSE HIG traded up $1.52 during trading hours on Friday, hitting $117.95. 1,260,025 shares of the company's stock were exchanged, compared to its average volume of 1,575,396. 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 capitalization of $34.19 billion, a P/E ratio of 11.82, a price-to-earnings-growth ratio of 0.97 and a beta of 0.94. The business's 50 day moving average is $116.51 and its 200-day moving average is $108.67. The Hartford Financial Services Group, Inc. has a 12-month low of $75.36 and a 12-month high of $123.23.

The Hartford Financial Services Group announced that its board has initiated a share buyback program on Thursday, July 25th that allows the company to buyback $3.30 billion in shares. This buyback authorization allows the insurance provider to buy up to 10.9% of its shares through open market purchases. Shares buyback programs are often an indication that the company's board believes its shares are undervalued.

The Hartford Financial Services Group Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 3rd. Investors 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 annualized dividend and a dividend yield of 1.76%. The ex-dividend date is Monday, December 2nd. The Hartford Financial Services Group's dividend payout ratio (DPR) is 18.84%.

Analysts Set New Price Targets

HIG has been the subject of several recent analyst reports. Bank of America raised their price target on The Hartford Financial Services Group from $121.00 to $124.00 and gave the company a "neutral" rating in a report on Thursday, October 10th. JPMorgan Chase & Co. boosted their target price on shares of The Hartford Financial Services Group from $122.00 to $125.00 and gave the stock a "neutral" rating in a research report on Friday, October 25th. Jefferies Financial Group increased their price target on shares of The Hartford Financial Services Group from $113.00 to $127.00 and gave the company a "hold" rating in a report on Wednesday, October 9th. UBS Group boosted their price objective on shares of The Hartford Financial Services Group from $134.00 to $135.00 and gave the stock a "buy" rating in a report on Tuesday, October 15th. Finally, Barclays began coverage on shares of The Hartford Financial Services Group in a report on Wednesday, September 4th. They issued an "equal weight" rating and a $130.00 target price for the company. Nine research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price 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.