Empirical Finance LLC Increases Position in The Hartford Financial Services Group, Inc. (NYSE:HIG)

Empirical Finance LLC boosted its position in shares of The Hartford Financial Services Group, Inc. (NYSE:HIG) by 1.8% in the third quarter, HoldingsChannel.com reports. The fund owned 10,787 shares of the insurance provider’s stock after purchasing an additional 192 shares during the period. Empirical Finance LLC’s holdings in The Hartford Financial Services Group were worth $1,269,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of HIG. DT Investment Partners LLC purchased a new position in The Hartford Financial Services Group in the third quarter valued at $26,000. New Covenant Trust Company N.A. purchased a new position in shares of The Hartford Financial Services Group in the 1st quarter valued at about $26,000. Clean Yield Group acquired a new position in shares of The Hartford Financial Services Group during the third quarter worth about $33,000. Quest Partners LLC increased its stake in shares of The Hartford Financial Services Group by 2,750.0% during the second 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 period. Finally, Bank & Trust Co acquired a new stake in The Hartford Financial Services Group in the second quarter valued at approximately $30,000. 93.42% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on HIG shares. StockNews.com upgraded shares of The Hartford Financial Services Group from a “hold” rating to a “buy” rating in a report on Friday. Royal Bank of Canada raised their price target on The Hartford Financial Services Group from $105.00 to $115.00 and gave the company a “sector perform” rating in a research note on Monday, July 29th. Jefferies Financial Group upped 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. Bank of America increased their price objective on 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, JPMorgan Chase & Co. boosted their target price on 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 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’s stock. According to data from MarketBeat.com, the stock currently has a consensus 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 $117.95 on Friday. The stock has a fifty day moving average price of $116.51 and a 200 day moving average price of $108.67. The Hartford Financial Services Group, Inc. has a 1-year low of $75.36 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 company has a market cap of $34.19 billion, a PE ratio of 11.82, a P/E/G ratio of 0.97 and a beta of 0.94.

The Hartford Financial Services Group announced that its Board of Directors has authorized a share buyback plan 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 shares through open market purchases. Shares repurchase plans are often a sign that the company’s management believes its shares are undervalued.

The Hartford Financial Services Group Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 3rd. Stockholders of record on Monday, December 2nd will be issued 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 annualized dividend and a dividend yield of 1.76%. The Hartford Financial Services Group’s payout ratio is presently 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.