Aptus Capital Advisors LLC Increases Stock Holdings in The Hartford Financial Services Group, Inc. (NYSE:HIG)

Aptus Capital Advisors LLC boosted its holdings in shares of The Hartford Financial Services Group, Inc. (NYSE:HIG) by 10.3% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,768 shares of the insurance provider’s stock after acquiring an additional 353 shares during the quarter. Aptus Capital Advisors LLC’s holdings in The Hartford Financial Services Group were worth $443,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the business. Entropy Technologies LP bought a new stake in The Hartford Financial Services Group during the 3rd quarter valued at $4,044,000. Nations Financial Group Inc. IA ADV bought a new position in shares of The Hartford Financial Services Group in the 3rd quarter worth $474,000. Ashton Thomas Securities LLC purchased a new position in The Hartford Financial Services Group during the 3rd quarter worth $40,000. Tyler Stone Wealth Management grew its stake in The Hartford Financial Services Group by 241.0% during the 3rd quarter. Tyler Stone Wealth Management now owns 1,879 shares of the insurance provider’s stock worth $221,000 after buying an additional 1,328 shares during the last quarter. Finally, Axxcess Wealth Management LLC purchased a new position in The Hartford Financial Services Group during the 3rd quarter worth $205,000. Hedge funds and other institutional investors own 93.42% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the company. Barclays initiated 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 target price on the stock. JPMorgan Chase & Co. boosted their price target on The Hartford Financial Services Group from $122.00 to $125.00 and gave the company a “neutral” rating in a research note on Friday, October 25th. Bank of America boosted 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 note on Thursday, October 10th. UBS Group boosted their price target on The Hartford Financial Services Group from $134.00 to $135.00 and gave the company a “buy” rating in a research note on Tuesday, October 15th. Finally, Piper Sandler boosted their price target on The Hartford Financial Services Group from $112.00 to $125.00 and gave the company an “overweight” rating in a research note on Monday, July 29th. Ten equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, The Hartford Financial Services Group presently has an average rating of “Moderate Buy” and a consensus target price of $120.88.

The Hartford Financial Services Group Stock Performance

NYSE HIG opened at $117.95 on Friday. The stock has a market capitalization of $34.19 billion, a price-to-earnings ratio of 11.82, a PEG ratio of 0.97 and a beta of 0.94. The Hartford Financial Services Group, Inc. has a twelve month low of $75.36 and a twelve month high of $123.23. The company has a current ratio of 0.32, a quick ratio of 0.32 and a debt-to-equity ratio of 0.26. The stock has a 50-day moving average of $116.44 and a 200 day moving average of $108.45.

The Hartford Financial Services Group declared that its Board of Directors has approved a share repurchase plan on Thursday, July 25th that permits the company to buyback $3.30 billion in shares. This buyback authorization permits the insurance provider to buy up to 10.9% of its shares through open market purchases. Shares buyback plans are usually 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 issued 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 dividend on an annualized basis and a yield of 1.76%. The Hartford Financial Services Group’s dividend payout ratio is presently 20.84%.

About The Hartford Financial Services Group

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.