Entropy Technologies LP Purchases Shares of 34,385 The Hartford Financial Services Group, Inc. (NYSE:HIG)

Entropy Technologies LP acquired a new position in shares of The Hartford Financial Services Group, Inc. (NYSE:HIG) in the third quarter, HoldingsChannel.com reports. The institutional investor acquired 34,385 shares of the insurance provider’s stock, valued at approximately $4,044,000.

A number of other hedge funds have also modified their holdings of HIG. Trust Co. of Vermont grew its stake in shares of The Hartford Financial Services Group by 27.9% during the 3rd quarter. Trust Co. of Vermont now owns 403 shares of the insurance provider’s stock worth $47,000 after acquiring an additional 88 shares in the last quarter. Bailard Inc. lifted its position in The Hartford Financial Services Group by 0.5% during the 2nd quarter. Bailard Inc. now owns 19,378 shares of the insurance provider’s stock worth $1,948,000 after buying an additional 101 shares in the last quarter. Catalina Capital Group LLC lifted its position in The Hartford Financial Services Group by 4.3% during the 3rd quarter. Catalina Capital Group LLC now owns 2,488 shares of the insurance provider’s stock worth $293,000 after buying an additional 102 shares in the last quarter. Dorsey & Whitney Trust CO LLC boosted its stake in shares of The Hartford Financial Services Group by 3.1% during the 1st quarter. Dorsey & Whitney Trust CO LLC now owns 3,736 shares of the insurance provider’s stock worth $385,000 after buying an additional 114 shares during the last quarter. Finally, Tectonic Advisors LLC grew its holdings in shares of The Hartford Financial Services Group by 2.6% in the 3rd quarter. Tectonic Advisors LLC now owns 4,566 shares of the insurance provider’s stock valued at $537,000 after acquiring an additional 114 shares in the last quarter. 93.42% of the stock is currently owned by institutional investors.

The Hartford Financial Services Group Price Performance

Shares of NYSE:HIG opened at $117.70 on Tuesday. The firm has a market capitalization of $34.12 billion, a price-to-earnings ratio of 11.79, a PEG ratio of 0.96 and a beta of 0.94. The stock’s 50 day moving average is $116.31 and its 200-day moving average is $108.03. The company has a quick ratio of 0.32, a current ratio of 0.32 and a debt-to-equity ratio of 0.26. The Hartford Financial Services Group, Inc. has a twelve month low of $73.92 and a twelve month high of $123.23.

The Hartford Financial Services Group announced that its Board of Directors has approved a stock buyback plan 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 plans are usually an indication that the company’s board of directors 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. Shareholders of record on Monday, December 2nd will be paid a dividend of $0.52 per share. 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. This represents a $2.08 annualized dividend and a yield of 1.77%. The Hartford Financial Services Group’s dividend payout ratio (DPR) is 20.84%.

Analyst Ratings Changes

A number of research analysts have weighed in on HIG shares. StockNews.com downgraded The Hartford Financial Services Group from a “buy” rating to a “hold” rating in a research note on Thursday, November 7th. Bank of America increased their price objective on The Hartford Financial Services Group from $121.00 to $124.00 and gave the company a “neutral” rating in a report on Thursday, October 10th. JPMorgan Chase & Co. increased their price target 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. Royal Bank of Canada boosted 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. Finally, UBS Group boosted their target price on 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. Eleven equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $120.88.

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.