The Hartford Financial Services Group, Inc. (NYSE:HIG) Shares Sold by First National Bank of Mount Dora Trust Investment Services

First National Bank of Mount Dora Trust Investment Services lessened its stake in shares of The Hartford Financial Services Group, Inc. (NYSE:HIG) by 5.9% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,041 shares of the insurance provider’s stock after selling 564 shares during the quarter. First National Bank of Mount Dora Trust Investment Services’ holdings in The Hartford Financial Services Group were worth $1,063,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in HIG. Norden Group LLC purchased a new stake in The Hartford Financial Services Group during the 1st quarter worth about $786,000. First Trust Direct Indexing L.P. increased its stake in shares of The Hartford Financial Services Group by 8.8% during the 1st quarter. First Trust Direct Indexing L.P. now owns 6,043 shares of the insurance provider’s stock valued at $623,000 after acquiring an additional 487 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of The Hartford Financial Services Group by 10.1% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 178,065 shares of the insurance provider’s stock valued at $18,350,000 after acquiring an additional 16,386 shares during the last quarter. Tokio Marine Asset Management Co. Ltd. increased its stake in shares of The Hartford Financial Services Group by 24.1% during the 1st quarter. Tokio Marine Asset Management Co. Ltd. now owns 6,887 shares of the insurance provider’s stock valued at $710,000 after acquiring an additional 1,337 shares during the last quarter. Finally, Fidelis Capital Partners LLC acquired a new stake in The Hartford Financial Services Group during the 1st quarter worth approximately $194,000. Hedge funds and other institutional investors own 93.42% of the company’s stock.

The Hartford Financial Services Group Stock Performance

HIG stock traded up $0.66 during mid-day trading on Monday, reaching $110.75. The company had a trading volume of 164,044 shares, compared to its average volume of 1,602,501. The Hartford Financial Services Group, Inc. has a one year low of $72.87 and a one year high of $123.23. The stock has a market capitalization of $32.11 billion, a P/E ratio of 11.03, a P/E/G ratio of 0.91 and a beta of 0.94. 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 stock’s 50-day simple moving average is $116.33 and its two-hundred day simple moving average is $107.50.

The Hartford Financial Services Group declared that its Board of Directors has initiated a share repurchase 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 shares through open market purchases. Shares repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.

The Hartford Financial Services Group Increases Dividend

The company also recently announced 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. The ex-dividend date is Monday, December 2nd. This represents a $2.08 annualized dividend and a yield of 1.88%. The Hartford Financial Services Group’s dividend payout ratio is 20.84%.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on HIG shares. Bank of America increased 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. Barclays started coverage on shares of The Hartford Financial Services Group in a research report on Wednesday, September 4th. They set an “equal weight” rating and a $130.00 target price for the company. Piper Sandler increased their target price on shares of The Hartford Financial Services Group from $112.00 to $125.00 and gave the stock an “overweight” rating in a research report on Monday, July 29th. Keefe, Bruyette & Woods increased 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 report on Tuesday, October 29th. Finally, Wells Fargo & Company increased their price objective on shares of The Hartford Financial Services Group from $122.00 to $134.00 and gave the company an “overweight” rating in a research report on Tuesday, September 17th. Ten investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price 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.