Quest Partners LLC Increases Stock Holdings in The Hartford Financial Services Group, Inc. (NYSE:HIG)

Quest Partners LLC boosted its position in shares of The Hartford Financial Services Group, Inc. (NYSE:HIG - Free Report) by 6,364.9% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 18,425 shares of the insurance provider's stock after buying an additional 18,140 shares during the quarter. Quest Partners LLC's holdings in The Hartford Financial Services Group were worth $2,167,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Trust Co. of Vermont increased its position in shares of The Hartford Financial Services Group by 27.9% in the third quarter. Trust Co. of Vermont now owns 403 shares of the insurance provider's stock valued at $47,000 after buying an additional 88 shares in the last quarter. Bailard Inc. lifted 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 valued at $1,948,000 after purchasing an additional 101 shares in the last quarter. Catalina Capital Group LLC increased its stake in shares of The Hartford Financial Services Group by 4.3% during the third quarter. Catalina Capital Group LLC now owns 2,488 shares of the insurance provider's stock worth $293,000 after purchasing an additional 102 shares in the last quarter. Tectonic Advisors LLC raised its position in shares of The Hartford Financial Services Group by 2.6% during the 3rd quarter. Tectonic Advisors LLC now owns 4,566 shares of the insurance provider's stock worth $537,000 after purchasing an additional 114 shares during the last quarter. Finally, Covestor Ltd lifted its stake in 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 in the last quarter. Hedge funds and other institutional investors own 93.42% of the company's stock.

Insider Activity

In other The Hartford Financial Services Group news, EVP Adin M. Tooker sold 6,865 shares of the business's stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $117.04, for a total transaction of $803,479.60. Following the completion of the transaction, the executive vice president now owns 25,820 shares in the company, valued at $3,021,972.80. The trade was a 21.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 1.60% of the company's stock.

The Hartford Financial Services Group Stock Down 1.1 %

The Hartford Financial Services Group stock traded down $1.31 during mid-day trading on Tuesday, reaching $116.82. 1,644,913 shares of the company's stock were exchanged, compared to its average volume of 1,595,834. The company has a fifty day moving average of $116.53 and a 200-day moving average of $108.90. The company has a market cap of $33.86 billion, a P/E ratio of 11.84, a P/E/G ratio of 0.97 and a beta of 0.94. The company has a quick ratio of 0.32, a current ratio of 0.32 and a debt-to-equity ratio of 0.26. The Hartford Financial Services Group, Inc. has a twelve month low of $75.83 and a twelve month high of $123.23.

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

The Hartford Financial Services Group Increases Dividend

The business also recently declared 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. The ex-dividend date is Monday, December 2nd. This represents a $2.08 dividend on an annualized basis and a yield of 1.78%. This is a positive change from The Hartford Financial Services Group's previous quarterly dividend of $0.47. The Hartford Financial Services Group's dividend payout ratio (DPR) is currently 18.84%.

Wall Street Analyst Weigh In

HIG has been the subject of a number of research analyst reports. UBS Group increased their target price on The Hartford Financial Services Group from $134.00 to $135.00 and gave the company a "buy" rating in a report on Tuesday, October 15th. JPMorgan Chase & Co. lifted 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 note on Friday, October 25th. Wells Fargo & Company raised their price target on shares of The Hartford Financial Services Group from $122.00 to $134.00 and gave the stock an "overweight" rating in a research note on Tuesday, September 17th. Jefferies Financial Group upped their price target on 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. Finally, Bank of America lifted their price objective on The Hartford Financial Services Group from $121.00 to $124.00 and gave the stock a "neutral" rating in a research report on Thursday, October 10th. Nine analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, The Hartford Financial Services Group currently has a consensus rating of "Moderate Buy" and a consensus price target of $120.88.

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.