Tokio Marine Asset Management Co. Ltd. Purchases 808 Shares of The Hartford Financial Services Group, Inc. (NYSE:HIG)

Tokio Marine Asset Management Co. Ltd. lifted its position in shares of The Hartford Financial Services Group, Inc. (NYSE:HIG) by 10.9% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 8,190 shares of the insurance provider’s stock after purchasing an additional 808 shares during the period. Tokio Marine Asset Management Co. Ltd.’s holdings in The Hartford Financial Services Group were worth $963,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in HIG. Concurrent Investment Advisors LLC bought a new position in The Hartford Financial Services Group during the 2nd quarter worth $213,000. Skandinaviska Enskilda Banken AB publ raised its stake in The Hartford Financial Services Group by 27.6% during the second quarter. Skandinaviska Enskilda Banken AB publ now owns 221,896 shares of the insurance provider’s stock worth $22,309,000 after buying an additional 48,004 shares during the last quarter. Twin Tree Management LP bought a new position in shares of The Hartford Financial Services Group in the 1st quarter worth about $3,133,000. Atria Investments Inc bought a new position in shares of The Hartford Financial Services Group in the first quarter valued at approximately $1,328,000. Finally, Lecap Asset Management Ltd. bought a new stake in shares of The Hartford Financial Services Group in the 3rd quarter worth approximately $633,000. Institutional investors own 93.42% of the company’s stock.

The Hartford Financial Services Group Price Performance

HIG stock opened at $117.95 on Friday. The company has a market capitalization of $34.19 billion, a PE ratio of 11.82, a price-to-earnings-growth ratio of 0.97 and a beta of 0.94. The company’s fifty day moving average price is $116.44 and its 200-day moving average price is $108.45. The Hartford Financial Services Group, Inc. has a one year low of $75.36 and a one 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 announced that its Board of Directors has authorized a share buyback plan on Thursday, July 25th that permits the company to buyback $3.30 billion in shares. This buyback authorization permits the insurance provider to purchase up to 10.9% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s leadership believes its stock is undervalued.

The Hartford Financial Services Group Increases Dividend

The firm 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 is a positive change from The Hartford Financial Services Group’s previous quarterly dividend of $0.47. The ex-dividend date is Monday, December 2nd. This represents a $2.08 dividend on an annualized basis and a yield of 1.76%. The Hartford Financial Services Group’s dividend payout ratio (DPR) is presently 20.84%.

Wall Street Analyst Weigh In

HIG has been the topic of several analyst reports. StockNews.com upgraded The Hartford Financial Services Group from a “hold” rating to a “buy” rating in a research report on Friday. UBS Group boosted their price objective on shares of The Hartford Financial Services Group from $134.00 to $135.00 and gave the company a “buy” rating in a research report on Tuesday, October 15th. Argus upgraded The Hartford Financial Services Group to a “strong-buy” rating in a report on Friday, August 2nd. Barclays assumed coverage on The Hartford Financial Services Group in a research report on Wednesday, September 4th. They issued an “equal weight” rating and a $130.00 price objective on the stock. Finally, Bank of America boosted their price objective on shares of The Hartford Financial Services Group from $121.00 to $124.00 and gave the company a “neutral” rating in a research report on Thursday, October 10th. Ten equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, The Hartford Financial Services Group has an average rating of “Moderate Buy” 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.