State of New Jersey Common Pension Fund D Has $12.28 Million Holdings in The Hartford Financial Services Group, Inc. (NYSE:HIG)

State of New Jersey Common Pension Fund D trimmed its holdings in The Hartford Financial Services Group, Inc. (NYSE:HIG - Free Report) by 7.1% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 104,375 shares of the insurance provider's stock after selling 7,962 shares during the period. State of New Jersey Common Pension Fund D's holdings in The Hartford Financial Services Group were worth $12,276,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Tyler Stone Wealth Management increased its holdings in The Hartford Financial Services Group by 241.0% during the 3rd quarter. Tyler Stone Wealth Management now owns 1,879 shares of the insurance provider's stock worth $221,000 after purchasing an additional 1,328 shares during the last quarter. Axxcess Wealth Management LLC acquired a new stake in shares of The Hartford Financial Services Group during the 3rd quarter worth approximately $205,000. Verus Financial Partners Inc. acquired a new position in shares of The Hartford Financial Services Group during the third quarter valued at $205,000. Applied Finance Capital Management LLC increased its stake in shares of The Hartford Financial Services Group by 414.2% in the third quarter. Applied Finance Capital Management LLC now owns 32,114 shares of the insurance provider's stock valued at $3,777,000 after purchasing an additional 25,868 shares during the period. Finally, Source Financial Advisors LLC bought a new position in shares of The Hartford Financial Services Group in the third quarter worth $223,000. Institutional investors and hedge funds own 93.42% of the company's stock.

Wall Street Analyst Weigh In

HIG has been the subject of several research reports. Argus raised The Hartford Financial Services Group to a "strong-buy" rating in a research note on Friday, August 2nd. Jefferies Financial Group lifted their target price on The Hartford Financial Services Group from $113.00 to $127.00 and gave the company a "hold" rating in a research note on Wednesday, October 9th. Piper Sandler increased their price objective on The Hartford Financial Services Group from $112.00 to $125.00 and gave the stock an "overweight" rating in a report on Monday, July 29th. Keefe, Bruyette & Woods lifted their target price on shares of The Hartford Financial Services Group from $133.00 to $135.00 and gave the company an "outperform" rating in a research note on Tuesday, October 29th. Finally, Bank of America increased their price objective on The Hartford Financial Services Group from $121.00 to $124.00 and gave the company a "neutral" rating in a report on Thursday, October 10th. Eleven 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's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $120.88.

The Hartford Financial Services Group Price Performance

HIG traded up $0.27 during midday trading on Monday, reaching $117.70. 1,059,117 shares of the company's stock were exchanged, compared to its average volume of 1,605,057. The Hartford Financial Services Group, Inc. has a one year low of $73.92 and a one year high of $123.23. The firm has a market capitalization of $34.12 billion, a price-to-earnings ratio of 11.85, a price-to-earnings-growth ratio of 0.96 and a beta of 0.94. The business has a 50-day simple moving average of $116.31 and a two-hundred day simple moving average of $108.03. 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 Increases Dividend

The company 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. This is a positive change from The Hartford Financial Services Group's previous quarterly dividend of $0.47. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $2.08 annualized dividend and a dividend yield of 1.77%. The Hartford Financial Services Group's dividend payout ratio is presently 20.84%.

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

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.