Moors & Cabot Inc. Boosts Stock Position in The Hartford Financial Services Group, Inc. (NYSE:HIG)

Moors & Cabot Inc. grew its holdings in The Hartford Financial Services Group, Inc. (NYSE:HIG) by 3.2% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 9,999 shares of the insurance provider’s stock after purchasing 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 filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. New Covenant Trust Company N.A. purchased a new stake in shares of The Hartford Financial Services Group in the first quarter valued at approximately $26,000. DT Investment Partners LLC bought a new position in shares of The Hartford Financial Services Group during the 3rd quarter worth $26,000. 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 valued at $29,000 after buying an additional 275 shares during the period. Bank & Trust Co bought a new stake in shares of The Hartford Financial Services Group in the second quarter valued at about $30,000. Finally, Family Firm Inc. purchased a new stake in The Hartford Financial Services Group in the second quarter worth about $31,000. 93.42% of the stock is currently owned by institutional investors.

The Hartford Financial Services Group Price Performance

HIG opened at $119.70 on Friday. 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’s 50 day simple moving average is $116.71 and its 200-day simple moving average is $109.17. The Hartford Financial Services Group, Inc. has a one year low of $76.65 and a one year high of $123.23. The stock has a market capitalization of $34.70 billion, a P/E ratio of 11.99, a price-to-earnings-growth ratio of 0.96 and a beta of 0.94.

The Hartford Financial Services Group declared that its Board of Directors has initiated a share repurchase plan on Thursday, July 25th that permits the company to repurchase $3.30 billion in outstanding shares. This repurchase authorization permits the insurance provider to repurchase up to 10.9% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s board of directors believes its stock is undervalued.

The Hartford Financial Services Group Increases Dividend

The business also recently declared 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 represents a $2.08 annualized dividend and a dividend yield of 1.74%. The ex-dividend date of this dividend is Monday, December 2nd. This is a boost from The Hartford Financial Services Group’s previous quarterly dividend of $0.47. The Hartford Financial Services Group’s dividend payout ratio is 18.84%.

Insider Buying and Selling

In other The Hartford Financial Services Group news, EVP Adin M. Tooker sold 6,865 shares of the firm’s stock in a transaction that occurred on Friday, November 15th. The stock was 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 $3,021,972.80. This trade represents a 21.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 1.60% of the stock is currently owned by company insiders.

Analyst Ratings Changes

HIG has been the topic of several analyst reports. Jefferies Financial Group lifted their target price on The Hartford Financial Services Group from $113.00 to $127.00 and gave the company a “hold” rating in a research note on Wednesday, October 9th. Bank of America boosted their price objective on shares of The Hartford Financial Services Group from $121.00 to $124.00 and gave the stock a “neutral” rating in a research note on Thursday, October 10th. JPMorgan Chase & Co. raised their target price on shares of 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. Keefe, Bruyette & Woods increased their price objective on The Hartford Financial Services Group from $133.00 to $135.00 and gave the company an “outperform” rating in a report on Tuesday, October 29th. Finally, Argus upgraded The Hartford Financial Services Group to a “strong-buy” rating in a research note on Friday, August 2nd. Nine equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $120.88.

The Hartford Financial Services Group Company 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.