Intech Investment Management LLC Purchases 5,254 Shares of The Hartford Financial Services Group, Inc. (NYSE:HIG)

Intech Investment Management LLC grew its position in The Hartford Financial Services Group, Inc. (NYSE:HIG - Free Report) by 5.0% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 110,270 shares of the insurance provider's stock after acquiring an additional 5,254 shares during the quarter. Intech Investment Management LLC's holdings in The Hartford Financial Services Group were worth $12,969,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in HIG. Trust Co. of Vermont increased its stake in The Hartford Financial Services Group by 27.9% during the third quarter. Trust Co. of Vermont now owns 403 shares of the insurance provider's stock worth $47,000 after acquiring an additional 88 shares during the last quarter. Bailard Inc. increased its stake 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 worth $1,948,000 after acquiring an additional 101 shares during the last quarter. Catalina Capital Group LLC increased its stake in 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 acquiring an additional 102 shares during the last quarter. Meeder Advisory Services Inc. increased its stake in The Hartford Financial Services Group by 1.9% during the third quarter. Meeder Advisory Services Inc. now owns 5,621 shares of the insurance provider's stock worth $661,000 after acquiring an additional 104 shares during the last quarter. Finally, Tectonic Advisors LLC increased its stake in The Hartford Financial Services Group by 2.6% during the third quarter. Tectonic Advisors LLC now owns 4,566 shares of the insurance provider's stock worth $537,000 after acquiring an additional 114 shares during the last quarter. Hedge funds and other institutional investors own 93.42% of the company's stock.

Insider Buying and Selling at The Hartford Financial Services Group

In other news, EVP Adin M. Tooker sold 6,865 shares of the company's stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $117.04, for a total transaction of $803,479.60. Following the completion of the sale, the executive vice president now owns 25,820 shares in the company, valued at approximately $3,021,972.80. This represents a 21.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 1.60% of the company's stock.

The Hartford Financial Services Group Trading Up 0.9 %

Shares of The Hartford Financial Services Group stock traded up $1.08 on Friday, reaching $120.72. 1,063,126 shares of the company were exchanged, compared to its average volume of 1,590,480. The stock has a fifty day moving average price of $116.71 and a 200-day moving average price of $109.17. The firm has a market capitalization of $35.00 billion, a price-to-earnings ratio of 11.99, a price-to-earnings-growth ratio of 0.96 and a beta of 0.94. The company has a current ratio of 0.32, a quick ratio of 0.32 and a debt-to-equity ratio of 0.26. The Hartford Financial Services Group, Inc. has a fifty-two week low of $76.65 and a fifty-two week high of $123.23.

The Hartford Financial Services Group declared that its board has approved a stock repurchase plan on Thursday, July 25th that permits the company to repurchase $3.30 billion in shares. This repurchase authorization permits the insurance provider to buy up to 10.9% of its shares through open market purchases. Shares repurchase plans are often an indication that the company's leadership 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. Shareholders of record on Monday, December 2nd will be paid a $0.52 dividend. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $2.08 dividend on an annualized basis and a yield of 1.72%. This is an increase from The Hartford Financial Services Group's previous quarterly dividend of $0.47. The Hartford Financial Services Group's payout ratio is 18.84%.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on HIG shares. Keefe, Bruyette & Woods boosted their price target on shares of The Hartford Financial Services Group from $133.00 to $135.00 and gave the stock an "outperform" rating in a research note on Tuesday, October 29th. Wells Fargo & Company boosted 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. Piper Sandler boosted 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 note on Monday, July 29th. JPMorgan Chase & Co. boosted their price target 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. Finally, Argus upgraded shares of The Hartford Financial Services Group to a "strong-buy" rating in a research note on Friday, August 2nd. Nine investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $120.88.

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.