Entropy Technologies LP Invests $4.04 Million in The Hartford Financial Services Group, Inc. (NYSE:HIG)

Entropy Technologies LP purchased a new stake in The Hartford Financial Services Group, Inc. (NYSE:HIG) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 34,385 shares of the insurance provider’s stock, valued at approximately $4,044,000.

Other hedge funds also recently made changes to their positions in the company. International Assets Investment Management LLC raised its position in The Hartford Financial Services Group by 31,680.4% in the third quarter. International Assets Investment Management LLC now owns 694,084 shares of the insurance provider’s stock worth $816,310,000 after purchasing an additional 691,900 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its holdings in shares of The Hartford Financial Services Group by 72.0% in the 1st quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 1,335,594 shares of the insurance provider’s stock worth $137,633,000 after buying an additional 559,019 shares in the last quarter. Swedbank AB bought a new position in shares of The Hartford Financial Services Group during the 1st quarter worth approximately $53,980,000. Healthcare of Ontario Pension Plan Trust Fund lifted its position in shares of The Hartford Financial Services Group by 301.2% during the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 333,000 shares of the insurance provider’s stock worth $34,316,000 after buying an additional 250,000 shares during the period. Finally, Robeco Institutional Asset Management B.V. boosted its stake in The Hartford Financial Services Group by 22.7% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 1,199,542 shares of the insurance provider’s stock valued at $141,078,000 after buying an additional 221,778 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 0.2 %

NYSE HIG opened at $117.70 on Tuesday. 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 12 month low of $73.92 and a 12 month high of $123.23. The company has a market capitalization of $34.12 billion, a PE ratio of 11.79, a P/E/G ratio of 0.96 and a beta of 0.94. The stock has a 50-day simple moving average of $116.31 and a 200 day simple moving average of $108.03.

The Hartford Financial Services Group declared that its Board of Directors has initiated a stock repurchase plan on Thursday, July 25th that permits the company to repurchase $3.30 billion in shares. This repurchase authorization permits the insurance provider to buy up to 10.9% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s leadership 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. Shareholders of record on Monday, December 2nd will be paid a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 1.77%. The ex-dividend date of this dividend 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 presently 20.84%.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on HIG shares. Royal Bank of Canada increased their price objective on The Hartford Financial Services Group from $105.00 to $115.00 and gave the stock a “sector perform” rating in a research note on Monday, July 29th. Barclays initiated coverage on shares of The Hartford Financial Services Group in a report on Wednesday, September 4th. They set an “equal weight” rating and a $130.00 price objective for the company. Wells Fargo & Company boosted their target price on The Hartford Financial Services Group from $122.00 to $134.00 and gave the stock an “overweight” rating in a report on Tuesday, September 17th. Keefe, Bruyette & Woods increased 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 report on Tuesday, October 29th. Finally, Argus upgraded The Hartford Financial Services Group to a “strong-buy” rating in a research report on Friday, August 2nd. Eleven research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average 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.