AustralianSuper Pty Ltd Grows Stake in The Hartford Financial Services Group, Inc. (NYSE:HIG)

AustralianSuper Pty Ltd grew its stake in shares of The Hartford Financial Services Group, Inc. (NYSE:HIG - Free Report) by 28.7% during the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 331,850 shares of the insurance provider's stock after buying an additional 74,083 shares during the quarter. AustralianSuper Pty Ltd owned approximately 0.11% of The Hartford Financial Services Group worth $39,029,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of HIG. Denali Advisors LLC acquired a new position in shares of The Hartford Financial Services Group during the first quarter worth $52,000. Norden Group LLC acquired a new position in The Hartford Financial Services Group in the first quarter valued at $786,000. First Trust Direct Indexing L.P. lifted its holdings in The Hartford Financial Services Group by 8.8% in the first quarter. First Trust Direct Indexing L.P. now owns 6,043 shares of the insurance provider's stock valued at $623,000 after buying an additional 487 shares during the period. SpiderRock Advisors LLC acquired a new position in The Hartford Financial Services Group in the first quarter valued at $223,000. Finally, McCarthy & Cox acquired a new position in The Hartford Financial Services Group in the first quarter valued at $268,000. Institutional investors and hedge funds own 93.42% of the company's stock.

The Hartford Financial Services Group Stock Down 2.0 %

HIG stock traded down $2.26 during trading on Thursday, reaching $110.46. The stock had a trading volume of 2,486,439 shares, compared to its average volume of 1,607,167. The Hartford Financial Services Group, Inc. has a one year low of $72.46 and a one year high of $123.23. The company has a quick ratio of 0.32, a current ratio of 0.32 and a debt-to-equity ratio of 0.28. The company's 50 day moving average is $116.41 and its two-hundred day moving average is $107.24. The company has a market capitalization of $32.02 billion, a price-to-earnings ratio of 11.29, a P/E/G ratio of 0.99 and a beta of 0.93.

The Hartford Financial Services Group Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 3rd. Shareholders of record on Monday, December 2nd will be given a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 1.88%. This is an increase from The Hartford Financial Services Group's previous quarterly dividend of $0.47. The ex-dividend date is Monday, December 2nd. The Hartford Financial Services Group's dividend payout ratio is presently 20.84%.

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

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on HIG shares. Jefferies Financial Group boosted their target price 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. Morgan Stanley dropped their target price on shares of The Hartford Financial Services Group from $109.00 to $107.00 and set an "equal weight" rating on the stock in a report on Wednesday, July 10th. Wells Fargo & Company boosted their target price on shares of The Hartford Financial Services Group from $122.00 to $134.00 and gave the company an "overweight" rating in a report on Tuesday, September 17th. Royal Bank of Canada lifted their price target on shares of The Hartford Financial Services Group from $105.00 to $115.00 and gave the company a "sector perform" rating in a research note on Monday, July 29th. Finally, Bank of America lifted their price target on shares of 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. Ten analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, The Hartford Financial Services Group presently has an average rating of "Moderate Buy" 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.