Sumitomo Mitsui Trust Group Inc. Has $93.04 Million Stock Position in The Hartford Financial Services Group, Inc. (NYSE:HIG)

Sumitomo Mitsui Trust Group Inc. lessened its holdings in The Hartford Financial Services Group, Inc. (NYSE:HIG - Free Report) by 0.6% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 791,054 shares of the insurance provider's stock after selling 4,649 shares during the period. Sumitomo Mitsui Trust Group Inc. owned about 0.27% of The Hartford Financial Services Group worth $93,036,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Dimensional Fund Advisors LP grew its position in The Hartford Financial Services Group by 1.2% in the second quarter. Dimensional Fund Advisors LP now owns 5,809,358 shares of the insurance provider's stock valued at $584,177,000 after acquiring an additional 69,007 shares in the last quarter. AQR Capital Management LLC grew its holdings in The Hartford Financial Services Group by 4.9% during the 2nd quarter. AQR Capital Management LLC now owns 1,497,960 shares of the insurance provider's stock valued at $150,605,000 after purchasing an additional 70,018 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its stake in The Hartford Financial Services Group by 2.4% during the 2nd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 1,367,400 shares of the insurance provider's stock worth $137,478,000 after buying an additional 31,806 shares during the period. Bahl & Gaynor Inc. lifted its holdings in The Hartford Financial Services Group by 3.4% in the 2nd quarter. Bahl & Gaynor Inc. now owns 1,229,133 shares of the insurance provider's stock worth $123,577,000 after buying an additional 40,400 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. boosted its position in The Hartford Financial Services Group by 22.7% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 1,199,542 shares of the insurance provider's stock valued at $141,078,000 after buying an additional 221,778 shares during the last quarter. Institutional investors and hedge funds own 93.42% of the company's stock.

Analysts Set New Price Targets

A number of brokerages recently commented on HIG. JPMorgan Chase & Co. increased their price target on 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. Piper Sandler raised 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 research report on Monday, July 29th. UBS Group upped their price target on shares of 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. Bank of America increased their price objective on shares of The Hartford Financial Services Group from $121.00 to $124.00 and gave the company a "neutral" rating in a research note on Thursday, October 10th. Finally, Keefe, Bruyette & Woods boosted their target price on shares of The Hartford Financial Services Group from $133.00 to $135.00 and gave the stock an "outperform" rating in a research report on Tuesday, October 29th. Eleven analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $120.88.

The Hartford Financial Services Group Stock Performance

The Hartford Financial Services Group stock traded down $1.22 during mid-day trading on Thursday, hitting $116.42. 373,157 shares of the company's stock traded hands, compared to its average volume of 1,596,457. The Hartford Financial Services Group, Inc. has a one year low of $74.69 and a one year high of $123.23. The company has a market cap of $33.75 billion, a PE ratio of 11.70, a price-to-earnings-growth ratio of 0.97 and a beta of 0.94. The firm has a 50 day moving average price of $116.41 and a 200 day moving average price of $108.39. 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 announced that its Board of Directors has authorized a share buyback program on Thursday, July 25th that allows the company to buyback $3.30 billion in shares. This buyback authorization allows the insurance provider to purchase up to 10.9% of its stock through open market purchases. Stock buyback programs are usually a sign that the company's board believes its stock is undervalued.

The Hartford Financial Services Group Increases Dividend

The company also recently announced 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. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $2.08 annualized dividend and a yield of 1.79%. This is a boost 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 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.