Ceredex Value Advisors LLC Sells 199,100 Shares of The Hartford Financial Services Group, Inc. (NYSE:HIG)

Ceredex Value Advisors LLC trimmed its position in shares of The Hartford Financial Services Group, Inc. (NYSE:HIG - Free Report) by 57.3% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 148,600 shares of the insurance provider's stock after selling 199,100 shares during the quarter. Ceredex Value Advisors LLC owned 0.05% of The Hartford Financial Services Group worth $17,547,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Phillips Wealth Planners LLC purchased a new position in shares of The Hartford Financial Services Group during the third quarter valued at approximately $202,000. Farther Finance Advisors LLC grew its stake in shares of The Hartford Financial Services Group by 63.0% in the 3rd quarter. Farther Finance Advisors LLC now owns 4,746 shares of the insurance provider's stock worth $558,000 after acquiring an additional 1,834 shares in the last quarter. AustralianSuper Pty Ltd raised its holdings in shares of The Hartford Financial Services Group by 28.7% in the third quarter. AustralianSuper Pty Ltd now owns 331,850 shares of the insurance provider's stock valued at $39,029,000 after purchasing an additional 74,083 shares during the last quarter. First Trust Direct Indexing L.P. lifted its position in shares of The Hartford Financial Services Group by 19.1% during the third quarter. First Trust Direct Indexing L.P. now owns 10,665 shares of the insurance provider's stock valued at $1,254,000 after purchasing an additional 1,714 shares in the last quarter. Finally, GSB Wealth Management LLC grew its position in The Hartford Financial Services Group by 4.4% in the 3rd quarter. GSB Wealth Management LLC now owns 3,572 shares of the insurance provider's stock worth $420,000 after purchasing an additional 150 shares in the last quarter. 93.42% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

HIG has been the subject of several recent analyst reports. Bank of America upped their target price 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. Piper Sandler boosted their price target on shares of The Hartford Financial Services Group from $112.00 to $125.00 and gave the stock an "overweight" rating in a report on Monday, July 29th. Keefe, Bruyette & Woods raised their price objective on shares of The Hartford Financial Services Group from $133.00 to $135.00 and gave the stock an "outperform" rating in a report on Tuesday. Royal Bank of Canada boosted their target price 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, Barclays assumed 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 price target on the stock. Ten investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $120.88.

The Hartford Financial Services Group Price Performance

The Hartford Financial Services Group stock traded down $0.35 during midday trading on Friday, reaching $110.09. 2,056,261 shares of the stock were exchanged, compared to its average volume of 1,609,286. The company's fifty day moving average is $116.33 and its 200-day moving average is $107.41. 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 Hartford Financial Services Group, Inc. has a 52 week low of $72.87 and a 52 week high of $123.23. The firm has a market cap of $31.91 billion, a PE ratio of 11.03, a PEG ratio of 0.93 and a beta of 0.93.

The Hartford Financial Services Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 3rd. Investors of record on Monday, December 2nd will be paid 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. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $2.08 annualized dividend and a yield of 1.89%. The Hartford Financial Services Group's dividend payout ratio (DPR) is currently 18.84%.

The Hartford Financial Services Group declared that its board has authorized a stock buyback program 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 programs are typically an indication that the company's management believes its shares are undervalued.

The Hartford Financial Services Group Company Profile

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.