Fifth Third Wealth Advisors LLC Acquires 259 Shares of The Hartford Financial Services Group, Inc. (NYSE:HIG)

Fifth Third Wealth Advisors LLC increased its holdings in The Hartford Financial Services Group, Inc. (NYSE:HIG) by 6.8% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 4,088 shares of the insurance provider’s stock after purchasing an additional 259 shares during the period. Fifth Third Wealth Advisors LLC’s holdings in The Hartford Financial Services Group were worth $481,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. DT Investment Partners LLC purchased a new stake in shares of The Hartford Financial Services Group during the 3rd quarter valued at $26,000. New Covenant Trust Company N.A. bought a new stake in shares of The Hartford Financial Services Group during the 1st quarter valued at about $26,000. Clean Yield Group bought a new stake in shares of The Hartford Financial Services Group during the 3rd quarter valued at about $33,000. Quest Partners LLC boosted its stake in shares of The Hartford Financial Services Group by 2,750.0% during 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 in the last quarter. Finally, Bank & Trust Co purchased a new position in The Hartford Financial Services Group during the 2nd quarter valued at about $30,000. 93.42% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, EVP Adin M. Tooker sold 6,865 shares of The Hartford Financial Services Group stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $117.04, for a total value of $803,479.60. Following the transaction, the executive vice president now directly owns 25,820 shares of the company’s stock, valued at $3,021,972.80. The trade was a 21.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. 1.60% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

HIG has been the subject of several recent analyst reports. UBS Group lifted their target price on shares of The Hartford Financial Services Group from $134.00 to $135.00 and gave the stock a “buy” rating in a report on Tuesday, October 15th. Royal Bank of Canada boosted their price objective on shares of The Hartford Financial Services Group from $105.00 to $115.00 and gave the company a “sector perform” rating in a report on Monday, July 29th. StockNews.com raised shares of The Hartford Financial Services Group from a “hold” rating to a “buy” rating in a report on Friday, November 15th. Keefe, Bruyette & Woods increased 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 note on Tuesday, October 29th. Finally, Bank of America raised their target price on shares of 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. Nine investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, The Hartford Financial Services Group has an average 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 $118.19 on Thursday. 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 stock has a fifty day moving average price of $116.62 and a 200 day moving average price of $109.10. The Hartford Financial Services Group, Inc. has a 1-year low of $76.25 and a 1-year high of $123.23. The company has a market cap of $34.26 billion, a PE ratio of 11.84, a P/E/G ratio of 0.97 and a beta of 0.94.

The Hartford Financial Services Group declared that its Board of Directors has initiated 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 repurchase up to 10.9% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s leadership believes its stock is undervalued.

The Hartford Financial Services Group Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 3rd. Investors of record on Monday, December 2nd will be given a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 1.76%. The ex-dividend date 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 (DPR) is currently 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.