Diamond Hill Capital Management Inc. Sells 135,151 Shares of The Hartford Financial Services Group, Inc. (NYSE:HIG)

Diamond Hill Capital Management Inc. reduced its position in shares of The Hartford Financial Services Group, Inc. (NYSE:HIG - Free Report) by 4.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,999,369 shares of the insurance provider's stock after selling 135,151 shares during the period. Diamond Hill Capital Management Inc. owned approximately 1.03% of The Hartford Financial Services Group worth $352,756,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. Trust Co. of Vermont lifted its position in The Hartford Financial Services Group by 27.9% in the 3rd quarter. Trust Co. of Vermont now owns 403 shares of the insurance provider's stock valued at $47,000 after acquiring an additional 88 shares in the last quarter. Bailard Inc. lifted its stake in shares of The Hartford Financial Services Group by 0.5% in the 2nd quarter. Bailard Inc. now owns 19,378 shares of the insurance provider's stock valued at $1,948,000 after acquiring an additional 101 shares during the last quarter. Catalina Capital Group LLC increased its position in shares of The Hartford Financial Services Group by 4.3% in the third quarter. Catalina Capital Group LLC now owns 2,488 shares of the insurance provider's stock valued at $293,000 after acquiring an additional 102 shares during the period. Dorsey & Whitney Trust CO LLC grew its holdings in shares of The Hartford Financial Services Group by 3.1% during the 1st quarter. Dorsey & Whitney Trust CO LLC now owns 3,736 shares of the insurance provider's stock worth $385,000 after acquiring an additional 114 shares during the period. Finally, Tectonic Advisors LLC increased its position in 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 valued at $537,000 after buying an additional 114 shares in the last quarter. Institutional investors own 93.42% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on HIG shares. JPMorgan Chase & Co. upped their target price on shares of The Hartford Financial Services Group from $122.00 to $125.00 and gave the company a "neutral" rating in a research note on Friday, October 25th. Wells Fargo & Company upped their target price on shares of The Hartford Financial Services Group from $122.00 to $134.00 and gave the stock an "overweight" rating in a research report on Tuesday, September 17th. Barclays started 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. UBS Group increased their price objective on shares of The Hartford Financial Services Group from $134.00 to $135.00 and gave the stock a "buy" rating in a research report on Tuesday, October 15th. Finally, Keefe, Bruyette & Woods boosted 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 research report on Tuesday, October 29th. Eleven equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $120.88.

The Hartford Financial Services Group Stock Up 0.6 %

Shares of NYSE:HIG traded up $0.76 during midday trading on Monday, hitting $118.19. 249,816 shares of the company's stock were exchanged, compared to its average volume of 1,601,222. The Hartford Financial Services Group, Inc. has a 12 month low of $73.92 and a 12 month high of $123.23. The stock has a 50 day moving average price of $116.31 and a 200-day moving average price of $108.03. 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 company has a market cap of $34.26 billion, a PE ratio of 11.85, a price-to-earnings-growth ratio of 0.96 and a beta of 0.94.

The Hartford Financial Services Group Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 3rd. Investors of record on Monday, December 2nd will be issued 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 dividend yield of 1.76%. 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 20.84%.

The Hartford Financial Services Group announced that its Board of Directors has initiated a share repurchase plan on Thursday, July 25th that authorizes the company to buyback $3.30 billion in outstanding shares. This buyback authorization authorizes the insurance provider to reacquire up to 10.9% of its shares through open market purchases. Shares buyback plans are generally an indication that the company's leadership believes its stock is undervalued.

About The Hartford Financial Services Group

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.