Tokio Marine Asset Management Co. Ltd. Boosts Stake in The Hartford Financial Services Group, Inc. (NYSE:HIG)

Tokio Marine Asset Management Co. Ltd. boosted its stake in shares of The Hartford Financial Services Group, Inc. (NYSE:HIG) by 10.9% during the third quarter, Holdings Channel.com reports. The firm owned 8,190 shares of the insurance provider’s stock after purchasing an additional 808 shares during the quarter. Tokio Marine Asset Management Co. Ltd.’s holdings in The Hartford Financial Services Group were worth $963,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Avantax Advisory Services Inc. boosted its stake in The Hartford Financial Services Group by 2.8% in the first quarter. Avantax Advisory Services Inc. now owns 4,543 shares of the insurance provider’s stock valued at $468,000 after acquiring an additional 122 shares in the last quarter. Koshinski Asset Management Inc. purchased a new position in The Hartford Financial Services Group during the 1st quarter worth $249,000. Blair William & Co. IL increased its position in The Hartford Financial Services Group by 6.4% during the 1st quarter. Blair William & Co. IL now owns 6,216 shares of the insurance provider’s stock valued at $641,000 after buying an additional 374 shares in the last quarter. Dorsey & Whitney Trust CO LLC boosted its holdings in The Hartford Financial Services Group by 3.1% in the first quarter. Dorsey & Whitney Trust CO LLC now owns 3,736 shares of the insurance provider’s stock worth $385,000 after acquiring an additional 114 shares in the last quarter. Finally, Twin Tree Management LP purchased a new stake in shares of The Hartford Financial Services Group during the first quarter worth about $3,133,000. 93.42% of the stock is currently owned by institutional investors.

The Hartford Financial Services Group Price Performance

HIG stock opened at $117.95 on Friday. The Hartford Financial Services Group, Inc. has a 52-week low of $75.36 and a 52-week high of $123.23. The business has a fifty day moving average of $116.44 and a two-hundred day moving average of $108.45. The stock has a market cap of $34.19 billion, a price-to-earnings ratio of 11.82, a price-to-earnings-growth ratio of 0.97 and a beta of 0.94. 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 Increases Dividend

The business also recently declared 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. 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 dividend on an annualized basis and a dividend yield of 1.76%. The Hartford Financial Services Group’s dividend payout ratio (DPR) is currently 20.84%.

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

Analyst Ratings Changes

Several analysts have weighed in on HIG shares. Wells Fargo & Company boosted their target price 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. Barclays started coverage on The Hartford Financial Services Group in a research note on Wednesday, September 4th. They issued an “equal weight” rating and a $130.00 target price for the company. Keefe, Bruyette & Woods raised their price objective on 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. Piper Sandler increased their price target on shares of The Hartford Financial Services Group from $112.00 to $125.00 and gave the stock an “overweight” rating in a report on Monday, July 29th. Finally, StockNews.com upgraded shares of The Hartford Financial Services Group from a “hold” rating to a “buy” rating in a research note on Friday. Ten 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 stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price 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.