Moors & Cabot Inc. Raises Holdings in The Hartford Financial Services Group, Inc. (NYSE:HIG)

Moors & Cabot Inc. lifted its position in shares of The Hartford Financial Services Group, Inc. (NYSE:HIG) by 3.2% during the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 9,999 shares of the insurance provider’s stock after buying an additional 309 shares during the period. Moors & Cabot Inc.’s holdings in The Hartford Financial Services Group were worth $1,176,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Trust Co. of Vermont grew its position in The Hartford Financial Services Group by 27.9% in the third quarter. Trust Co. of Vermont now owns 403 shares of the insurance provider’s stock valued at $47,000 after acquiring an additional 88 shares in the last quarter. Bailard Inc. boosted its position in The Hartford Financial Services Group by 0.5% during the 2nd quarter. Bailard Inc. now owns 19,378 shares of the insurance provider’s stock valued at $1,948,000 after purchasing an additional 101 shares during the period. Catalina Capital Group LLC grew its position in shares of 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 shares of The Hartford Financial Services Group by 1.9% in the third quarter. Meeder Advisory Services Inc. now owns 5,621 shares of the insurance provider’s stock valued at $661,000 after purchasing an additional 104 shares during the period. Finally, Tectonic Advisors LLC raised its stake in The Hartford Financial Services Group by 2.6% during the 3rd quarter. Tectonic Advisors LLC now owns 4,566 shares of the insurance provider’s stock valued at $537,000 after acquiring an additional 114 shares in the last quarter. Hedge funds and other institutional investors own 93.42% of the company’s stock.

Insider Buying and Selling

In related news, EVP Adin M. Tooker sold 6,865 shares of The Hartford Financial Services Group stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $117.04, for a total value of $803,479.60. Following the completion of the transaction, the executive vice president now directly owns 25,820 shares in the company, valued at approximately $3,021,972.80. The trade was a 21.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.60% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

HIG has been the topic of several research analyst reports. Bank of America lifted their price target on The Hartford Financial Services Group from $121.00 to $124.00 and gave the company a “neutral” rating in a research report on Thursday, October 10th. Keefe, Bruyette & Woods increased 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 report on Tuesday, October 29th. Argus upgraded The Hartford Financial Services Group to a “strong-buy” rating in a research note on Friday, August 2nd. Jefferies Financial Group increased their price target on shares of The Hartford Financial Services Group from $113.00 to $127.00 and gave the stock a “hold” rating in a research note on Wednesday, October 9th. Finally, JPMorgan Chase & Co. boosted their price objective 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. Nine equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, The Hartford Financial Services Group presently has an average rating of “Moderate Buy” and an average target price of $120.88.

The Hartford Financial Services Group Price Performance

Shares of NYSE HIG opened at $119.70 on Friday. The stock has a market cap of $34.70 billion, a price-to-earnings ratio of 11.99, a PEG ratio of 0.96 and a beta of 0.94. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.32 and a current ratio of 0.32. 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 firm’s 50-day simple moving average is $116.71 and its 200 day simple moving average is $109.17.

The Hartford Financial Services Group declared that its Board of Directors has approved a share repurchase 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 purchase up to 10.9% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s board of directors believes its shares are undervalued.

The Hartford Financial Services Group Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 3rd. Investors of record on Monday, December 2nd will be given a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.74%. 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. The Hartford Financial Services Group’s dividend payout ratio (DPR) is presently 18.84%.

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.