Prime Capital Investment Advisors LLC Cuts Stock Holdings in The Hartford Financial Services Group, Inc. (NYSE:HIG)

Prime Capital Investment Advisors LLC reduced its stake in The Hartford Financial Services Group, Inc. (NYSE:HIG) by 2.3% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,990 shares of the insurance provider’s stock after selling 92 shares during the quarter. Prime Capital Investment Advisors LLC’s holdings in The Hartford Financial Services Group were worth $469,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also bought and sold shares of the company. Concurrent Investment Advisors LLC bought a new position in shares of The Hartford Financial Services Group during the 2nd quarter valued at about $213,000. Skandinaviska Enskilda Banken AB publ raised its stake in shares of The Hartford Financial Services Group by 27.6% during the second quarter. Skandinaviska Enskilda Banken AB publ now owns 221,896 shares of the insurance provider’s stock worth $22,309,000 after acquiring an additional 48,004 shares in the last quarter. Atria Investments Inc bought a new stake in shares of The Hartford Financial Services Group in the 1st quarter worth approximately $1,328,000. Lecap Asset Management Ltd. purchased a new stake in shares of The Hartford Financial Services Group in the 3rd quarter valued at $633,000. Finally, Canada Pension Plan Investment Board boosted its stake in shares of The Hartford Financial Services Group by 94.4% in the 1st quarter. Canada Pension Plan Investment Board now owns 195,017 shares of the insurance provider’s stock valued at $20,097,000 after purchasing an additional 94,717 shares in the last quarter. 93.42% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several analysts have weighed in on the stock. Jefferies Financial Group boosted 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. UBS Group increased their target price on The Hartford Financial Services Group from $134.00 to $135.00 and gave the company a “buy” rating in a report on Tuesday, October 15th. Argus raised The Hartford Financial Services Group to a “strong-buy” rating in a research note on Friday, August 2nd. Piper Sandler boosted their price objective on The Hartford Financial Services Group from $112.00 to $125.00 and gave the company an “overweight” rating in a research report on Monday, July 29th. Finally, StockNews.com upgraded shares of The Hartford Financial Services Group from a “hold” rating to a “buy” rating in a report on Friday. Nine 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’s stock. Based on data from MarketBeat.com, The Hartford Financial Services Group has a consensus rating of “Moderate Buy” and an average price target of $120.88.

The Hartford Financial Services Group Trading Up 1.3 %

HIG opened at $117.95 on Friday. 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 stock has a market cap of $34.19 billion, a PE ratio of 11.82, a PEG ratio of 0.97 and a beta of 0.94. The business has a 50 day moving average of $116.51 and a 200-day moving average of $108.59.

The Hartford Financial Services Group declared that its Board of Directors has initiated a stock buyback program on Thursday, July 25th that allows the company to repurchase $3.30 billion in shares. This repurchase authorization allows the insurance provider to repurchase up to 10.9% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board of directors believes its shares are 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 dividend of $0.52 per share. The ex-dividend date is Monday, December 2nd. This represents a $2.08 annualized dividend and a yield of 1.76%. This is a positive change from The Hartford Financial Services Group’s previous quarterly dividend of $0.47. The Hartford Financial Services Group’s dividend payout ratio (DPR) is currently 20.84%.

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.