Empowered Funds LLC Has $2.08 Million Stock Holdings in The Hartford Financial Services Group, Inc. (NYSE:HIG)

Empowered Funds LLC raised its stake in shares of The Hartford Financial Services Group, Inc. (NYSE:HIG) by 34.0% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 17,658 shares of the insurance provider’s stock after purchasing an additional 4,482 shares during the period. Empowered Funds LLC’s holdings in The Hartford Financial Services Group were worth $2,077,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the stock. Dimensional Fund Advisors LP grew its stake in The Hartford Financial Services Group by 1.2% in the second quarter. Dimensional Fund Advisors LP now owns 5,809,358 shares of the insurance provider’s stock valued at $584,177,000 after acquiring an additional 69,007 shares during the period. AQR Capital Management LLC boosted its holdings in shares of The Hartford Financial Services Group by 4.9% during the 2nd quarter. AQR Capital Management LLC now owns 1,497,960 shares of the insurance provider’s stock worth $150,605,000 after buying an additional 70,018 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its position in The Hartford Financial Services Group by 2.4% in the 2nd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 1,367,400 shares of the insurance provider’s stock valued at $137,478,000 after buying an additional 31,806 shares during the last quarter. Bahl & Gaynor Inc. raised its stake in shares of The Hartford Financial Services Group by 3.4% in the second quarter. Bahl & Gaynor Inc. now owns 1,229,133 shares of the insurance provider’s stock valued at $123,577,000 after buying an additional 40,400 shares during the period. Finally, Robeco Institutional Asset Management B.V. raised its position 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 worth $141,078,000 after buying an additional 221,778 shares in the last quarter. Institutional investors own 93.42% of the company’s stock.

Insider Activity at The Hartford Financial Services Group

In other The Hartford Financial Services Group news, EVP Adin M. Tooker sold 6,865 shares of the firm’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 transaction, the executive vice president now owns 25,820 shares of the company’s stock, valued at approximately $3,021,972.80. This trade represents a 21.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.60% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of research analysts have issued reports on HIG shares. StockNews.com upgraded The Hartford Financial Services Group from a “hold” rating to a “buy” rating in a research note on Friday, November 15th. Argus raised shares of The Hartford Financial Services Group to a “strong-buy” rating in a report on Friday, August 2nd. Piper Sandler lifted their price target on shares of The Hartford Financial Services Group from $112.00 to $125.00 and gave the company an “overweight” rating in a research note on Monday, July 29th. 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 report on Thursday, October 10th. Finally, Keefe, Bruyette & Woods upped their target price 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. Nine 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 MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $120.88.

The Hartford Financial Services Group Trading Up 1.2 %

Shares of NYSE HIG opened at $118.19 on Thursday. The stock has a market capitalization of $34.26 billion, a P/E ratio of 11.84, a PEG ratio of 0.97 and a beta of 0.94. The business’s 50 day moving average is $116.62 and its two-hundred day moving average is $109.10. The Hartford Financial Services Group, Inc. has a 1-year low of $76.25 and a 1-year 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 Hartford Financial Services Group announced that its board has approved a share repurchase program on Thursday, July 25th that permits the company to buyback $3.30 billion in shares. This buyback authorization permits the insurance provider to purchase up to 10.9% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.

The Hartford Financial Services Group Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, January 3rd. Stockholders of record on Monday, December 2nd will be paid a $0.52 dividend. This is an increase from The Hartford Financial Services Group’s previous quarterly dividend of $0.47. The ex-dividend date is Monday, December 2nd. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.76%. The Hartford Financial Services Group’s dividend payout ratio is presently 20.84%.

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.