The Hartford Financial Services Group, Inc. (NYSE:HIG) Shares Acquired by abrdn plc

abrdn plc raised its position in The Hartford Financial Services Group, Inc. (NYSE:HIG - Free Report) by 13.1% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 161,133 shares of the insurance provider's stock after acquiring an additional 18,663 shares during the quarter. abrdn plc owned approximately 0.05% of The Hartford Financial Services Group worth $18,819,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the company. Trust Co. of Vermont raised its position in shares of The Hartford Financial Services Group by 27.9% during the 3rd quarter. Trust Co. of Vermont now owns 403 shares of the insurance provider's stock worth $47,000 after acquiring an additional 88 shares in the last quarter. Bailard Inc. raised its holdings in The Hartford Financial Services Group by 0.5% during the second quarter. Bailard Inc. now owns 19,378 shares of the insurance provider's stock worth $1,948,000 after purchasing an additional 101 shares in the last quarter. Dorsey & Whitney Trust CO LLC lifted its position in shares of The Hartford Financial Services Group by 3.1% during the 1st quarter. Dorsey & Whitney Trust CO LLC now owns 3,736 shares of the insurance provider's stock worth $385,000 after buying an additional 114 shares during the last quarter. Tectonic Advisors LLC boosted its holdings in shares of The Hartford Financial Services Group by 2.6% in the 3rd quarter. Tectonic Advisors LLC now owns 4,566 shares of the insurance provider's stock valued at $537,000 after buying an additional 114 shares in the last quarter. Finally, Covestor Ltd grew its position in shares of The Hartford Financial Services Group by 28.8% in the 1st quarter. Covestor Ltd now owns 519 shares of the insurance provider's stock valued at $54,000 after buying an additional 116 shares during the last quarter. 93.42% of the stock is owned by hedge funds and other institutional investors.

The Hartford Financial Services Group Price Performance

Shares of NYSE HIG traded down $0.34 during trading on Friday, hitting $110.10. 2,056,256 shares of the company were exchanged, compared to its average volume of 1,609,286. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.32 and a quick ratio of 0.32. The Hartford Financial Services Group, Inc. has a 1 year low of $72.87 and a 1 year high of $123.23. The company has a market cap of $31.92 billion, a price-to-earnings ratio of 11.03, a PEG ratio of 0.93 and a beta of 0.93. The firm's fifty day moving average price is $116.33 and its 200 day moving average price is $107.35.

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

The Hartford Financial Services Group Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, January 3rd. Shareholders of record on Monday, December 2nd will be given a dividend of $0.52 per share. 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 yield of 1.89%. The ex-dividend date is Monday, December 2nd. The Hartford Financial Services Group's dividend payout ratio is presently 18.84%.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. Bank of America boosted 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 report on Thursday, October 10th. Keefe, Bruyette & Woods raised their price target on The Hartford Financial Services Group from $133.00 to $135.00 and gave the stock an "outperform" rating in a research note on Tuesday. Barclays began coverage on The Hartford Financial Services Group in a research note on Wednesday, September 4th. They issued an "equal weight" rating and a $130.00 price objective for the company. Piper Sandler raised their target price on shares of The Hartford Financial Services Group from $112.00 to $125.00 and gave the stock an "overweight" rating in a research report on Monday, July 29th. Finally, Jefferies Financial Group upped 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 research report on Wednesday, October 9th. Ten investment 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 company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus 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.