The Hartford Financial Services Group, Inc. (NYSE:HIG) Shares Sold by Sigma Planning Corp

Sigma Planning Corp decreased its position in shares of The Hartford Financial Services Group, Inc. (NYSE:HIG) by 19.5% during the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 1,825 shares of the insurance provider’s stock after selling 442 shares during the period. Sigma Planning Corp’s holdings in The Hartford Financial Services Group were worth $215,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of HIG. New Covenant Trust Company N.A. purchased a new position in shares of The Hartford Financial Services Group during the 1st quarter worth $26,000. DT Investment Partners LLC purchased a new position in The Hartford Financial Services Group during the third quarter worth about $26,000. Quest Partners LLC boosted its stake in The Hartford Financial Services Group by 2,750.0% in the 2nd quarter. Quest Partners LLC now owns 285 shares of the insurance provider’s stock worth $29,000 after buying an additional 275 shares during the last quarter. Bank & Trust Co purchased a new stake in The Hartford Financial Services Group in the 2nd quarter valued at about $30,000. Finally, Family Firm Inc. acquired a new position in shares of The Hartford Financial Services Group during the 2nd quarter valued at about $31,000. Institutional investors and hedge funds own 93.42% of the company’s stock.

The Hartford Financial Services Group Trading Up 1.3 %

HIG opened at $117.95 on Monday. The firm has a market capitalization of $34.19 billion, a P/E ratio of 11.82, a P/E/G ratio of 0.97 and a beta of 0.94. The firm’s 50 day moving average is $116.51 and its 200-day moving average is $108.75. 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, Inc. has a 52-week low of $75.36 and a 52-week high of $123.23.

The Hartford Financial Services Group declared that its board has approved a stock buyback 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 reacquire up to 10.9% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s board believes its stock is undervalued.

The Hartford Financial Services Group Increases Dividend

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

Analysts Set New Price Targets

Several equities research analysts recently issued reports on HIG shares. Bank of America raised their target price on shares of 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. 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 note on Tuesday, October 29th. Argus upgraded The Hartford Financial Services Group to a “strong-buy” rating in a report 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 report on Wednesday, October 9th. Finally, Barclays assumed coverage on The Hartford Financial Services Group in a research note on Wednesday, September 4th. They set an “equal weight” rating and a $130.00 price target for the company. Nine investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, The Hartford Financial Services Group presently has a consensus rating of “Moderate Buy” and a consensus price target 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.