Adin M. Tooker Sells 6,865 Shares of The Hartford Financial Services Group, Inc. (NYSE:HIG) Stock

The Hartford Financial Services Group, Inc. (NYSE:HIG) EVP Adin M. Tooker sold 6,865 shares of the business’s stock in a transaction dated 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 in the company, valued at $3,021,972.80. The trade was a 21.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

The Hartford Financial Services Group Price Performance

Shares of The Hartford Financial Services Group stock opened at $119.70 on Friday. The stock has a 50 day moving average price of $116.71 and a 200-day moving average price of $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 cap of $34.70 billion, a price-to-earnings ratio of 11.99, a price-to-earnings-growth ratio of 0.96 and a beta of 0.94. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.32 and a current ratio of 0.32.

The Hartford Financial Services Group announced that its board has initiated a stock buyback program on Thursday, July 25th that permits the company to repurchase $3.30 billion in shares. This repurchase authorization permits the insurance provider to buy up to 10.9% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s management believes its shares are undervalued.

The Hartford Financial Services Group Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 3rd. Shareholders of record on Monday, December 2nd will be given a dividend of $0.52 per share. This is a boost from The Hartford Financial Services Group’s previous quarterly dividend of $0.47. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $2.08 dividend on an annualized basis and a yield of 1.74%. The Hartford Financial Services Group’s payout ratio is 18.84%.

Hedge Funds Weigh In On The Hartford Financial Services Group

A number of large investors have recently made changes to their positions in the company. Unigestion Holding SA raised its position in The Hartford Financial Services Group by 1,524.2% in the 3rd quarter. Unigestion Holding SA now owns 218,166 shares of the insurance provider’s stock worth $25,654,000 after purchasing an additional 204,734 shares during the period. Toronto Dominion Bank raised its holdings in shares of The Hartford Financial Services Group by 0.6% in the third quarter. Toronto Dominion Bank now owns 146,975 shares of the insurance provider’s stock worth $17,286,000 after buying an additional 824 shares during the period. Coldstream Capital Management Inc. lifted its stake in shares of The Hartford Financial Services Group by 18.8% during the 3rd quarter. Coldstream Capital Management Inc. now owns 7,268 shares of the insurance provider’s stock worth $855,000 after acquiring an additional 1,148 shares during the last quarter. MidWestOne Financial Group Inc. purchased a new position in The Hartford Financial Services Group during the 3rd quarter valued at $212,000. Finally, M&T Bank Corp grew its position in The Hartford Financial Services Group by 4.0% in the 3rd quarter. M&T Bank Corp now owns 41,166 shares of the insurance provider’s stock valued at $4,842,000 after acquiring an additional 1,600 shares during the last quarter. 93.42% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the company. Keefe, Bruyette & Woods lifted their target price on The Hartford Financial Services Group from $133.00 to $135.00 and gave the company an “outperform” rating in a research note on Tuesday, October 29th. Piper Sandler lifted their price objective on shares of 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. UBS Group upped 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 research report on Tuesday, October 15th. Jefferies Financial Group lifted their price target on shares of The Hartford Financial Services Group from $113.00 to $127.00 and gave the company a “hold” rating in a report on Wednesday, October 9th. 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 report on Tuesday, September 17th. Nine equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, The Hartford Financial Services Group has an average 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.