Item 5. Market for the Hartford's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities

6K characters. Original on sec.gov · Markdown

Item 5. Market for the Hartford's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities

High and Low Closing Prices and Quarterly Dividends Declared per Share for the Common Stock of The Hartford



	1st Qtr.		2nd Qtr.		3rd Qtr.		4th Qtr.
2016
Common Stock Price
High	$	46.31	$	46.80	$	44.77	$	48.58
Low	$	37.63	$	40.98	$	39.85	$	42.50
Dividends Declared	$	0.21	$	0.21	$	0.21	$	0.23
2015
Common Stock Price
High	$	43.10	$	42.86	$	49.53	$	49.24
Low	$	38.90	$	40.77	$	43.03	$	42.11
Dividends Declared	$	0.18	$	0.18	$	0.21	$	0.21

On February 23, 2017, The Hartford’s Board of Directors declared a quarterly dividend of $0.23 per common share payable on April 3, 2017 to common shareholders of record as of March 6, 2017. As of February 22, 2017, the Company had approximately 12,692 registered holders of record of the Company's common stock. A substantially greater number of holders of our common stock are “street name” holders or beneficial holders, whose shares are held of record by banks, brokers and other financial institutions. The closing price of The Hartford’s common stock on the NYSE on February 22, 2017 was $48.69.

On June 14, 2016, the Company’s Chief Executive Officer certified to the NYSE that he is not aware of any violation by the Company of NYSE corporate governance listing standards, as

required by Section 303A.12(a) of the NYSE’s Listed Company Manual.

There are also various legal and regulatory limitations governing the extent to which The Hartford’s insurance subsidiaries may extend credit, pay dividends or otherwise provide funds to The Hartford Financial Services Group, Inc. as discussed in the Liquidity Requirements and Sources o f Capital section of Part II, Item 7, MD&A — Capital Resources and Liquidity.

For information related to securities authorized for issuance under equity compensation plans, see Part III, Item 12, Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters.

Repurchases of Common Stock by the Issuer for the Three Months Ended December 31, 2016



Period	Total Number of Shares Purchased	Average Price Paid per Share		Total Number of Shares Purchased as Part of Publicly Announced Plans or Programs	Approximate Dollar Value of Shares that May Yet Be Purchased Under the Plans or Programs [1]
					(in millions)
October 1, 2016 – October 31, 2016	2,300,136	$	43.41	2,300,136	$	1,480
November 1, 2016 – November 30, 2016	2,155,600	$	46.26	2,155,600	$	1,380
December 1, 2016 – December 31, 2016	1,674,947	$	47.98	1,674,947	$	1,300
Total	6,130,683	$	45.66	6,130,683


[1]	In October 2016, the Board of Directors authorized a new equity repurchase plan for $1.3 billion for the period commencing October 31, 2016 through December 31, 2017. The Company’s repurchase authorization permits purchases of common stock, as well as warrants or other derivative securities. Repurchases may be made in the open market, through derivative, accelerated share repurchase and other privately negotiated transactions, and through plans designed to comply with Rule 10b5-1(c) under the Securities Exchange Act of 1934, as amended. The timing of any future repurchases will be dependent upon several factors, including the market price of the Company’s securities, the Company’s capital position, consideration of the effect of any repurchases on the Company’s financial strength or credit ratings, and other corporate considerations. The repurchase program may be modified, extended or terminated by the Board of Directors at any time.

[1]

In October 2016, the Board of Directors authorized a new equity repurchase plan for $1.3 billion for the period commencing October 31, 2016 through December 31, 2017. The Company’s repurchase authorization permits purchases of common stock, as well as warrants or other derivative securities. Repurchases may be made in the open market, through derivative, accelerated share repurchase and other privately negotiated transactions, and through plans designed to comply with Rule 10b5-1(c) under the Securities Exchange Act of 1934, as amended. The timing of any future repurchases will be dependent upon several factors, including the market price of the Company’s securities, the Company’s capital position, consideration of the effect of any repurchases on the Company’s financial strength or credit ratings, and other corporate considerations. The repurchase program may be modified, extended or terminated by the Board of Directors at any time.

Part II - Item 5. Market for the Hartford's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities

Total Return to Shareholders

The following tables present The Hartford’s annual return percentage and five-year total return on its common stock including reinvestment of dividends in comparison to the S&P 500 and the S&P Insurance Composite Index.



Annual Return Percentage
	For the years ended
Company/Index	2012		2013		2014		2015		2016
The Hartford Financial Services Group, Inc.	41.01	%	64.12	%	17.13	%	6.12	%	11.76	%
S&P 500 Index	16.00	%	32.39	%	13.69	%	1.38	%	11.96	%
S&P Insurance Composite Index	19.09	%	46.71	%	8.29	%	2.33	%	17.58	%



Cumulative Five-Year Total Return
	Base
	Period		For the years ended
Company/Index	2011		2012	2013	2014	2015	2016
The Hartford Financial Services Group, Inc.	$	100	141.01	231.43	271.08	287.67	321.50
S&P 500 Index	$	100	116.00	153.57	174.60	177.01	198.18
S&P Insurance Composite Index	$	100	119.09	174.72	189.20	193.60	227.64

Part II - Item 6. Selected Financial Data

Previous: Item 3. Legal Proceedings · Next: Item 6. SELECTED FINANCIAL DATA