Boston Family Office LLC Buys New Stake in The Hartford Financial Services Group, Inc. (NYSE:HIG)

Boston Family Office LLC purchased a new position in shares of The Hartford Financial Services Group, Inc. (NYSE:HIG) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 1,933 shares of the insurance provider’s stock, valued at approximately $227,000.

Other institutional investors have also modified their holdings of the company. New Covenant Trust Company N.A. purchased a new position in The Hartford Financial Services Group during the first quarter valued at approximately $26,000. DT Investment Partners LLC purchased a new position in shares of The Hartford Financial Services Group during the 3rd quarter valued at approximately $26,000. Quest Partners LLC lifted its stake in shares of The Hartford Financial Services Group by 2,750.0% in the 2nd quarter. Quest Partners LLC now owns 285 shares of the insurance provider’s stock valued at $29,000 after purchasing an additional 275 shares during the period. Bank & Trust Co purchased a new stake in The Hartford Financial Services Group during the second quarter worth $30,000. Finally, Family Firm Inc. acquired a new stake in The Hartford Financial Services Group during the second quarter valued at $31,000. Hedge funds and other institutional investors own 93.42% of the company’s stock.

Wall Street Analysts Forecast Growth

HIG has been the subject of a number of analyst reports. Wells Fargo & Company upped their price objective on shares of The Hartford Financial Services Group from $122.00 to $134.00 and gave the stock an “overweight” rating in a research report on Tuesday, September 17th. Royal Bank of Canada increased their price target on The Hartford Financial Services Group from $105.00 to $115.00 and gave the stock a “sector perform” rating in a research report on Monday, July 29th. Argus upgraded The Hartford Financial Services Group to a “strong-buy” rating in a research report on Friday, August 2nd. Piper Sandler increased their target price 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, Keefe, Bruyette & Woods upped their price objective on shares of The Hartford Financial Services Group from $133.00 to $135.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 29th. Nine equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, The Hartford Financial Services Group has an average rating of “Moderate Buy” and an average price target of $120.88.

Insiders Place Their Bets

In other news, EVP Adin M. Tooker sold 6,865 shares of the firm’s stock in a transaction that occurred on Friday, November 15th. The shares were 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 owns 25,820 shares of the company’s stock, valued at approximately $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 SEC, which can be accessed through the SEC website. Insiders own 1.60% of the company’s stock.

The Hartford Financial Services Group Price Performance

Shares of HIG opened at $121.53 on Tuesday. The Hartford Financial Services Group, Inc. has a 1-year low of $76.65 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 firm has a 50-day simple moving average of $116.91 and a two-hundred day simple moving average of $109.60. The stock has a market cap of $35.23 billion, a PE ratio of 12.18, a P/E/G ratio of 0.99 and a beta of 0.94.

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 an increase from The Hartford Financial Services Group’s previous quarterly dividend of $0.47. This represents a $2.08 annualized dividend and a yield of 1.71%. The ex-dividend date of this dividend is Monday, December 2nd. The Hartford Financial Services Group’s payout ratio is currently 18.84%.

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.