Apollon Wealth Management LLC Sells 191 Shares of The Hartford Financial Services Group, Inc. (NYSE:HIG)

Apollon Wealth Management LLC reduced its position in The Hartford Financial Services Group, Inc. (NYSE:HIG) by 4.7% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 3,836 shares of the insurance provider’s stock after selling 191 shares during the quarter. Apollon Wealth Management LLC’s holdings in The Hartford Financial Services Group were worth $451,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. International Assets Investment Management LLC raised its holdings in shares of The Hartford Financial Services Group by 31,680.4% in the third quarter. International Assets Investment Management LLC now owns 694,084 shares of the insurance provider’s stock valued at $816,310,000 after buying an additional 691,900 shares during the last quarter. Swedbank AB bought a new position in shares of The Hartford Financial Services Group in the first quarter valued at about $53,980,000. Healthcare of Ontario Pension Plan Trust Fund raised its holdings in shares of The Hartford Financial Services Group by 301.2% in the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 333,000 shares of the insurance provider’s stock valued at $34,316,000 after buying an additional 250,000 shares during the last quarter. Robeco Institutional Asset Management B.V. raised its holdings in shares of The Hartford Financial Services Group by 22.7% in the third 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. Finally, Lighthouse Investment Partners LLC raised its holdings in shares of The Hartford Financial Services Group by 237.1% in the second quarter. Lighthouse Investment Partners LLC now owns 299,364 shares of the insurance provider’s stock valued at $30,098,000 after buying an additional 210,546 shares during the last quarter. 93.42% of the stock is owned by institutional investors.

The Hartford Financial Services Group Trading Up 1.3 %

NYSE:HIG opened at $117.95 on Monday. The Hartford Financial Services Group, Inc. has a fifty-two week low of $75.36 and a fifty-two week high of $123.23. 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 stock has a market capitalization of $34.19 billion, a PE ratio of 11.82, a price-to-earnings-growth ratio of 0.97 and a beta of 0.94. The business’s 50-day simple moving average is $116.51 and its 200-day simple moving average is $108.75.

The Hartford Financial Services Group declared that its board has authorized a stock buyback plan on Thursday, July 25th that allows the company to buyback $3.30 billion in outstanding shares. This buyback authorization allows the insurance provider to reacquire up to 10.9% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.

The Hartford Financial Services Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 3rd. Stockholders of record on Monday, December 2nd will be issued a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 1.76%. The ex-dividend date of this dividend is Monday, December 2nd. This is a boost from The Hartford Financial Services Group’s previous quarterly dividend of $0.47. The Hartford Financial Services Group’s payout ratio is 18.84%.

Analysts Set New Price Targets

HIG has been the subject of a number of research reports. JPMorgan Chase & Co. lifted their price objective on The Hartford Financial Services Group from $122.00 to $125.00 and gave the stock a “neutral” rating in a research report on Friday, October 25th. Piper Sandler lifted their price objective on 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. Jefferies Financial Group lifted their price objective on The Hartford Financial Services Group from $113.00 to $127.00 and gave the stock a “hold” rating in a research report on Wednesday, October 9th. Wells Fargo & Company lifted their price objective on 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. Finally, Bank of America lifted their price objective on The Hartford Financial Services Group from $121.00 to $124.00 and gave the stock a “neutral” rating in a research report on Thursday, October 10th. Nine equities research analysts have rated the stock with a hold rating, eight have issued 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 has a consensus rating of “Moderate Buy” and a consensus target price of $120.88.

The Hartford Financial Services Group 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.