Catalina Capital Group LLC Has $293,000 Stake in The Hartford Financial Services Group, Inc. (NYSE:HIG)

Catalina Capital Group LLC raised its holdings in The Hartford Financial Services Group, Inc. (NYSE:HIG) by 4.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,488 shares of the insurance provider’s stock after acquiring an additional 102 shares during the period. Catalina Capital Group LLC’s holdings in The Hartford Financial Services Group were worth $293,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in HIG. Larson Financial Group LLC grew its stake in The Hartford Financial Services Group by 2,625.0% in the first quarter. Larson Financial Group LLC now owns 872 shares of the insurance provider’s stock valued at $90,000 after acquiring an additional 840 shares during the period. Geneos Wealth Management Inc. boosted its position in shares of The Hartford Financial Services Group by 3.2% during the first quarter. Geneos Wealth Management Inc. now owns 3,990 shares of the insurance provider’s stock worth $411,000 after buying an additional 123 shares during the period. Manchester Capital Management LLC boosted its position in shares of The Hartford Financial Services Group by 27.2% during the first quarter. Manchester Capital Management LLC now owns 935 shares of the insurance provider’s stock worth $96,000 after buying an additional 200 shares during the period. Leuthold Group LLC acquired a new position in shares of The Hartford Financial Services Group during the first quarter worth about $3,112,000. Finally, CFO4Life Group LLC acquired a new position in shares of The Hartford Financial Services Group during the first quarter worth about $769,000. 93.42% of the stock is owned by institutional investors and hedge funds.

The Hartford Financial Services Group Price Performance

Shares of NYSE HIG opened at $116.72 on Thursday. The firm has a market cap of $33.84 billion, a P/E ratio of 11.70, a price-to-earnings-growth ratio of 0.91 and a beta of 0.94. 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, Inc. has a 1-year low of $72.87 and a 1-year high of $123.23. The business’s 50 day moving average is $116.31 and its 200-day moving average is $107.75.

The Hartford Financial Services Group declared that its board has approved a share buyback program on Thursday, July 25th that authorizes the company to buyback $3.30 billion in outstanding shares. This buyback authorization authorizes the insurance provider to reacquire up to 10.9% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board of directors believes its shares are undervalued.

The Hartford Financial Services Group Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 3rd. Stockholders 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 represents a $2.08 dividend on an annualized basis and a dividend yield of 1.78%. This is a positive change from The Hartford Financial Services Group’s previous quarterly dividend of $0.47. The Hartford Financial Services Group’s dividend payout ratio (DPR) is 18.84%.

Analysts Set New Price Targets

HIG has been the subject of several recent research reports. Morgan Stanley reduced their price objective on The Hartford Financial Services Group from $109.00 to $107.00 and set an “equal weight” rating for the company in a research report on Wednesday, July 10th. JPMorgan Chase & Co. upped their price objective on The Hartford Financial Services Group from $122.00 to $125.00 and gave the stock a “neutral” rating in a research report on Friday, October 25th. Barclays assumed coverage on The Hartford Financial Services Group in a research report on Wednesday, September 4th. They set an “equal weight” rating and a $130.00 price objective for the company. Wells Fargo & Company increased their price target on 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. Finally, Keefe, Bruyette & Woods increased their price target on The Hartford Financial Services Group from $133.00 to $135.00 and gave the company an “outperform” rating in a research report on Tuesday, October 29th. Ten equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average 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.