Radnor Capital Management LLC acquired a new position in The Hartford Financial Services Group, Inc. (NYSE:HIG - Free Report) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 32,408 shares of the insurance provider's stock, valued at approximately $3,812,000.
Several other institutional investors and hedge funds have also bought and sold shares of HIG. New Covenant Trust Company N.A. purchased a new position in shares of The Hartford Financial Services Group in the 1st quarter worth about $26,000. DT Investment Partners LLC bought a new stake in The Hartford Financial Services Group during the third quarter valued at approximately $26,000. Quest Partners LLC increased its stake 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 worth $29,000 after purchasing an additional 275 shares in the last quarter. Bank & Trust Co bought a new position in shares of The Hartford Financial Services Group in the second quarter worth about $30,000. Finally, Family Firm Inc. purchased a new position in The Hartford Financial Services Group during the second quarter valued at approximately $31,000. 93.42% of the stock is currently owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
Several brokerages have commented on HIG. UBS Group boosted their price target on shares of The Hartford Financial Services Group from $134.00 to $135.00 and gave the stock a "buy" rating in a research note on Tuesday, October 15th. Barclays started coverage on shares of The Hartford Financial Services Group in a report on Wednesday, September 4th. They set an "equal weight" rating and a $130.00 price target on the stock. 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 research note on Tuesday, September 17th. Jefferies Financial Group raised their price objective on The Hartford Financial Services Group from $113.00 to $127.00 and gave the stock a "hold" rating in a report on Wednesday, October 9th. Finally, JPMorgan Chase & Co. boosted their price target on shares of The Hartford Financial Services Group from $122.00 to $125.00 and gave the company a "neutral" rating in a report on Friday, October 25th. Ten equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $120.88.
Get Our Latest Stock Report on HIG
The Hartford Financial Services Group Trading Up 4.6 %
Shares of NYSE HIG traded up $5.09 during trading on Wednesday, hitting $116.72. 2,182,935 shares of the company were exchanged, compared to its average volume of 1,609,058. 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 12-month low of $72.87 and a 12-month high of $123.23. The company has a fifty day moving average price of $116.26 and a 200-day moving average price of $107.68. The firm has a market capitalization of $33.84 billion, a PE ratio of 11.19, a P/E/G ratio of 0.90 and a beta of 0.94.
The Hartford Financial Services Group Increases Dividend
The company also recently declared 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. The ex-dividend date is Monday, December 2nd. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.78%. This is an increase 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%.
The Hartford Financial Services Group announced that its Board of Directors has authorized a share repurchase plan on Thursday, July 25th that authorizes the company to buyback $3.30 billion in shares. This buyback authorization authorizes the insurance provider to repurchase up to 10.9% of its stock through open market purchases. Stock buyback plans are typically an indication that the company's board of directors believes its shares are undervalued.
The Hartford Financial Services Group Profile
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Free Report)
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.
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