Loring Wolcott & Coolidge Fiduciary Advisors LLP MA Has $117,000 Stake in The Hartford Financial Services Group, Inc. (NYSE:HIG)

Loring Wolcott & Coolidge Fiduciary Advisors LLP MA decreased its holdings in shares of The Hartford Financial Services Group, Inc. (NYSE:HIG) by 20.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 969 shares of the insurance provider’s stock after selling 247 shares during the quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA’s holdings in The Hartford Financial Services Group were worth $117,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the business. GSB Wealth Management LLC grew its position in shares of The Hartford Financial Services Group by 4.4% during the 3rd quarter. GSB Wealth Management LLC now owns 3,572 shares of the insurance provider’s stock worth $420,000 after buying an additional 150 shares during the period. MONECO Advisors LLC bought a new position in The Hartford Financial Services Group during the 3rd quarter worth approximately $342,000. abrdn plc grew its holdings in The Hartford Financial Services Group by 13.1% during the third quarter. abrdn plc now owns 161,133 shares of the insurance provider’s stock valued at $18,819,000 after purchasing an additional 18,663 shares during the period. Patriot Financial Group Insurance Agency LLC bought a new stake in The Hartford Financial Services Group in the third quarter valued at approximately $217,000. Finally, Summit Place Financial Advisors LLC increased its stake in The Hartford Financial Services Group by 4.6% in the third quarter. Summit Place Financial Advisors LLC now owns 25,910 shares of the insurance provider’s stock valued at $3,047,000 after purchasing an additional 1,150 shares in the last quarter. Institutional investors and hedge funds own 93.42% of the company’s stock.

The Hartford Financial Services Group Trading Up 0.5 %

Shares of NYSE:HIG opened at $112.72 on Thursday. The company’s 50-day moving average price is $116.41 and its two-hundred day moving average price is $107.24. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.32 and a quick ratio of 0.32. The Hartford Financial Services Group, Inc. has a one year low of $72.46 and a one year high of $123.23. The stock has a market capitalization of $32.68 billion, a PE ratio of 11.29, a price-to-earnings-growth ratio of 0.99 and a beta of 0.93.

The Hartford Financial Services Group announced that its Board of Directors has approved a stock repurchase program on Thursday, July 25th that allows the company to buyback $3.30 billion in outstanding shares. This buyback authorization allows the insurance provider to repurchase up to 10.9% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board of directors believes its stock is undervalued.

The Hartford Financial Services Group Increases Dividend

The firm 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 annualized dividend and a yield of 1.85%. The Hartford Financial Services Group’s payout ratio is 20.84%.

Analyst Ratings Changes

HIG has been the subject of several research analyst reports. Wells Fargo & Company boosted their price target 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. Argus raised The Hartford Financial Services Group to a “strong-buy” rating in a research note on Friday, August 2nd. Morgan Stanley decreased their target price on The Hartford Financial Services Group from $109.00 to $107.00 and set an “equal weight” rating for the company in a research note on Wednesday, July 10th. Royal Bank of Canada boosted their target price on The Hartford Financial Services Group from $105.00 to $115.00 and gave the company a “sector perform” rating in a research note on Monday, July 29th. Finally, Barclays assumed 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. Ten equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $120.88.

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.