Sustainable Insight Capital Management LLC Sells 6,700 Shares of The Hartford Financial Services Group, Inc. (NYSE:HIG)

Sustainable Insight Capital Management LLC cut its stake in shares of The Hartford Financial Services Group, Inc. (NYSE:HIG - Free Report) by 19.6% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 27,400 shares of the insurance provider's stock after selling 6,700 shares during the quarter. The Hartford Financial Services Group makes up approximately 1.5% of Sustainable Insight Capital Management LLC's portfolio, making the stock its 29th biggest position. Sustainable Insight Capital Management LLC's holdings in The Hartford Financial Services Group were worth $3,223,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. New Covenant Trust Company N.A. bought a new stake in The Hartford Financial Services Group in the first quarter valued at approximately $26,000. DT Investment Partners LLC bought a new stake in shares of The Hartford Financial Services Group in the 3rd quarter valued at $26,000. Quest Partners LLC increased its position in shares of The Hartford Financial Services Group by 2,750.0% during the second quarter. Quest Partners LLC now owns 285 shares of the insurance provider's stock worth $29,000 after buying an additional 275 shares during the period. Bank & Trust Co bought a new position in The Hartford Financial Services Group during the second quarter worth $30,000. Finally, Family Firm Inc. bought a new stake in The Hartford Financial Services Group during the second quarter valued at $31,000. Institutional investors own 93.42% of the company's stock.

The Hartford Financial Services Group Stock Up 1.9 %

NYSE:HIG traded up $2.24 during trading hours on Friday, hitting $117.43. 1,615,147 shares of the company traded hands, compared to its average volume of 1,609,636. The Hartford Financial Services Group, Inc. has a one year low of $73.12 and a one year high of $123.23. 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 company has a market cap of $34.04 billion, a PE ratio of 11.77, a PEG ratio of 0.96 and a beta of 0.94. The firm's 50-day simple moving average is $116.31 and its 200-day simple moving average is $107.98.

The Hartford Financial Services Group announced that its Board of Directors has approved a share buyback program on Thursday, July 25th that allows the company to buyback $3.30 billion in outstanding shares. This buyback authorization allows the insurance provider to repurchase up to 10.9% of its stock through open market purchases. Stock buyback programs are usually a sign that the company's management believes its stock is undervalued.

The Hartford Financial Services Group Increases Dividend

The firm 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 $0.52 dividend. The ex-dividend date of this dividend is Monday, December 2nd. This is a positive change from The Hartford Financial Services Group's previous quarterly dividend of $0.47. This represents a $2.08 annualized dividend and a dividend yield of 1.77%. The Hartford Financial Services Group's dividend payout ratio is currently 18.84%.

Analyst Ratings Changes

A number of brokerages have recently issued reports on HIG. Royal Bank of Canada boosted their price objective on 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. UBS Group increased their price target on The Hartford Financial Services Group from $134.00 to $135.00 and gave the stock a "buy" rating in a report on Tuesday, October 15th. Bank of America boosted their target price on shares of The Hartford Financial Services Group from $121.00 to $124.00 and gave the company a "neutral" rating in a research report on Thursday, October 10th. Barclays initiated 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 for the company. Finally, Keefe, Bruyette & Woods upped their price objective on shares of The Hartford Financial Services Group from $133.00 to $135.00 and gave the company an "outperform" rating in a report on Tuesday, October 29th. Eleven investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, The Hartford Financial Services Group currently has an average rating of "Hold" and a consensus target price 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.