The Hartford Financial Services Group, Inc. (NYSE:HIG - Get Free Report) EVP Adin M. Tooker sold 6,865 shares of The Hartford Financial Services Group stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $117.04, for a total value of $803,479.60. Following the completion of the sale, the executive vice president now directly owns 25,820 shares in the company, valued at $3,021,972.80. This represents a 21.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.
The Hartford Financial Services Group Trading Down 1.1 %
NYSE:HIG opened at $116.81 on Wednesday. The stock has a market cap of $33.86 billion, a price-to-earnings ratio of 11.70, a PEG ratio of 0.97 and a beta of 0.94. The business has a fifty day moving average of $116.53 and a 200-day moving average of $109.03. The Hartford Financial Services Group, Inc. has a 1 year low of $75.83 and a 1 year high of $123.23. 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 declared that its board has authorized a stock repurchase program on Thursday, July 25th that permits the company to repurchase $3.30 billion in outstanding shares. This repurchase authorization permits the insurance provider to purchase up to 10.9% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company's board of directors believes its stock is undervalued.
The Hartford Financial Services Group Increases Dividend
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The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 3rd. Stockholders 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 dividend yield of 1.78%. The ex-dividend date is Monday, December 2nd. This is an increase from The Hartford Financial Services Group's previous quarterly dividend of $0.47. The Hartford Financial Services Group's dividend payout ratio is 20.84%.
Wall Street Analyst Weigh In
A number of analysts have issued reports on HIG shares. StockNews.com raised The Hartford Financial Services Group from a "hold" rating to a "buy" rating in a research note on Friday, November 15th. Keefe, Bruyette & Woods upped their price target 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. Royal Bank of Canada raised their price target on shares of The Hartford Financial Services Group from $105.00 to $115.00 and gave the company a "sector perform" rating in a research report on Monday, July 29th. Barclays assumed coverage on shares of The Hartford Financial Services Group in a research note on Wednesday, September 4th. They set an "equal weight" rating and a $130.00 target price on the stock. Finally, Piper Sandler raised their price target on The Hartford Financial Services Group from $112.00 to $125.00 and gave the company an "overweight" rating in a research note on Monday, July 29th. Nine research 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 stock. According to data from MarketBeat, The Hartford Financial Services Group presently has a consensus rating of "Moderate Buy" and an average target price of $120.88.
Get Our Latest Report on HIG
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently modified their holdings of the business. New Covenant Trust Company N.A. acquired a new stake in shares of The Hartford Financial Services Group during the 1st quarter valued at about $26,000. DT Investment Partners LLC bought a new position in The Hartford Financial Services Group in the 3rd quarter worth approximately $26,000. Quest Partners LLC raised its stake in 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 during the last quarter. Bank & Trust Co acquired a new position in shares of The Hartford Financial Services Group during the second quarter valued at about $30,000. Finally, Family Firm Inc. bought a new position in The Hartford Financial Services Group during the second quarter valued at about $31,000. Hedge funds and other institutional investors own 93.42% of the company's stock.
About The Hartford Financial Services Group
(
Get Free Report)
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.
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