The Hartford Financial Services Group, Inc. (NYSE:HIG) Shares Bought by Principal Financial Group Inc.

Principal Financial Group Inc. increased its stake in The Hartford Financial Services Group, Inc. (NYSE:HIG - Free Report) by 1.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 353,873 shares of the insurance provider's stock after buying an additional 6,605 shares during the period. Principal Financial Group Inc. owned 0.12% of The Hartford Financial Services Group worth $41,619,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in the stock. New Covenant Trust Company N.A. bought a new position in The Hartford Financial Services Group during the 1st quarter worth about $26,000. DT Investment Partners LLC bought a new position in The Hartford Financial Services Group during the 3rd quarter worth about $26,000. Quest Partners LLC boosted its holdings in shares of The Hartford Financial Services Group by 2,750.0% in the 2nd quarter. Quest Partners LLC now owns 285 shares of the insurance provider's stock valued at $29,000 after buying an additional 275 shares in the last quarter. Bank & Trust Co bought a new stake in shares of The Hartford Financial Services Group in the 2nd quarter valued at about $30,000. Finally, Family Firm Inc. bought a new stake in shares of The Hartford Financial Services Group in the 2nd quarter valued at about $31,000. Hedge funds and other institutional investors own 93.42% of the company's stock.

The Hartford Financial Services Group Stock Performance

HIG traded up $0.27 during trading on Monday, reaching $117.70. 1,059,117 shares of the company's stock were exchanged, compared to its average volume of 1,605,057. The Hartford Financial Services Group, Inc. has a 1 year low of $73.92 and a 1 year high of $123.23. 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 stock has a market capitalization of $34.12 billion, a P/E ratio of 11.85, a price-to-earnings-growth ratio of 0.96 and a beta of 0.94. The company's fifty day simple moving average is $116.31 and its 200-day simple moving average is $108.03.

The Hartford Financial Services Group Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 3rd. Stockholders of record on Monday, December 2nd will be issued a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 1.77%. This is a positive change 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 payout ratio is 20.84%.

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

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on HIG. 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 price target on the stock. StockNews.com lowered shares of The Hartford Financial Services Group from a "buy" rating to a "hold" rating in a research report on Thursday. Piper Sandler increased their price objective on shares of The Hartford Financial Services Group from $112.00 to $125.00 and gave the company an "overweight" rating in a research report on Monday, July 29th. JPMorgan Chase & Co. increased their price objective on shares of The Hartford Financial Services Group from $122.00 to $125.00 and gave the company a "neutral" rating in a research report on Friday, October 25th. Finally, Argus raised shares of The Hartford Financial Services Group to a "strong-buy" rating in a research report on Friday, August 2nd. Eleven 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 currently has a consensus rating of "Hold" and an average price target of $120.88.

The Hartford Financial Services Group 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.