Quest Partners LLC Has $2.17 Million Stock Holdings in The Hartford Financial Services Group, Inc. (NYSE:HIG)

by · The Cerbat Gem

Quest Partners LLC increased its holdings in shares of The Hartford Financial Services Group, Inc. (NYSE:HIG – Free Report) by 6,364.9% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 18,425 shares of the insurance provider’s stock after acquiring an additional 18,140 shares during the period. Quest Partners LLC’s holdings in The Hartford Financial Services Group were worth $2,167,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in HIG. Avantax Advisory Services Inc. grew its stake in shares of The Hartford Financial Services Group by 2.8% in the 1st quarter. Avantax Advisory Services Inc. now owns 4,543 shares of the insurance provider’s stock valued at $468,000 after purchasing an additional 122 shares during the period. Blair William & Co. IL raised its stake in The Hartford Financial Services Group by 6.4% during the first quarter. Blair William & Co. IL now owns 6,216 shares of the insurance provider’s stock worth $641,000 after acquiring an additional 374 shares in the last quarter. Covestor Ltd lifted its holdings in shares of The Hartford Financial Services Group by 28.8% during the first quarter. Covestor Ltd now owns 519 shares of the insurance provider’s stock valued at $54,000 after acquiring an additional 116 shares during the period. UniSuper Management Pty Ltd boosted its stake in shares of The Hartford Financial Services Group by 325.8% in the 1st quarter. UniSuper Management Pty Ltd now owns 13,403 shares of the insurance provider’s stock valued at $1,381,000 after purchasing an additional 10,255 shares in the last quarter. Finally, Bessemer Group Inc. grew its holdings in shares of The Hartford Financial Services Group by 222.7% in the 1st quarter. Bessemer Group Inc. now owns 15,157 shares of the insurance provider’s stock worth $1,563,000 after purchasing an additional 10,460 shares during the last quarter. Institutional investors own 93.42% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on HIG shares. 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 research report on Tuesday, September 17th. Piper Sandler lifted their price objective on 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. JPMorgan Chase & Co. increased their target price on The Hartford Financial Services Group from $122.00 to $125.00 and gave the stock a “neutral” rating in a report on Friday, October 25th. UBS Group lifted their price target on The Hartford Financial Services Group from $134.00 to $135.00 and gave the company a “buy” rating in a report on Tuesday, October 15th. Finally, Royal Bank of Canada increased their price objective on shares of The Hartford Financial Services Group from $105.00 to $115.00 and gave the stock a “sector perform” rating in a report on Monday, July 29th. Nine 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 company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $120.88.

Check Out Our Latest Stock Analysis on The Hartford Financial Services Group

The Hartford Financial Services Group Trading Up 0.2 %

NYSE:HIG opened at $118.14 on Tuesday. The firm has a market capitalization of $34.25 billion, a price-to-earnings ratio of 11.84, a PEG ratio of 0.97 and a beta of 0.94. The Hartford Financial Services Group, Inc. has a 1-year low of $75.83 and a 1-year high of $123.23. The business’s 50-day moving average price is $116.53 and its two-hundred day moving average price is $108.90. The company has a current ratio of 0.32, a quick ratio of 0.32 and a debt-to-equity ratio of 0.26.

The Hartford Financial Services Group Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 3rd. Investors of record on Monday, December 2nd will be paid a dividend of $0.52 per share. This is a positive change 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 annualized dividend and a yield of 1.76%. The Hartford Financial Services Group’s dividend payout ratio (DPR) is presently 18.84%.

The Hartford Financial Services Group announced that its board has authorized a stock buyback 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 repurchase up to 10.9% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s board believes its stock is undervalued.

The Hartford Financial Services Group Company Profile

(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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