The Hartford Financial Services Group, Inc. (NYSE:HIG) Shares Sold by Independent Advisor Alliance

Independent Advisor Alliance decreased its holdings in The Hartford Financial Services Group, Inc. (NYSE:HIG) by 1.6% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,842 shares of the insurance provider’s stock after selling 98 shares during the quarter. Independent Advisor Alliance’s holdings in The Hartford Financial Services Group were worth $687,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Concurrent Investment Advisors LLC purchased a new stake in shares of The Hartford Financial Services Group during the second quarter worth about $213,000. Skandinaviska Enskilda Banken AB publ increased its holdings in shares of 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 valued at $22,309,000 after acquiring an additional 48,004 shares in the last quarter. Atria Investments Inc acquired a new position in shares of The Hartford Financial Services Group during the first quarter valued at about $1,328,000. Lecap Asset Management Ltd. acquired a new position in shares of The Hartford Financial Services Group during the third quarter valued at about $633,000. Finally, Manning & Napier Advisors LLC acquired a new position in shares of The Hartford Financial Services Group during the second quarter valued at about $11,060,000. 93.42% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, EVP Adin M. Tooker sold 6,865 shares of the stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $117.04, for a total transaction of $803,479.60. Following the transaction, the executive vice president now owns 25,820 shares in the company, valued at $3,021,972.80. This trade represents a 21.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 1.60% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the stock. BMO Capital Markets upped their price objective on shares of The Hartford Financial Services Group from $100.00 to $141.00 and gave the company a “market perform” rating in a report on Wednesday. UBS Group upped 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 report on Tuesday, October 15th. StockNews.com upgraded shares of The Hartford Financial Services Group from a “hold” rating to a “buy” rating in a report on Friday, November 15th. Keefe, Bruyette & Woods increased their price target on shares of The Hartford Financial Services Group from $133.00 to $135.00 and gave the stock an “outperform” rating in a report on Tuesday, October 29th. Finally, Argus upgraded shares of The Hartford Financial Services Group to a “strong-buy” rating in a report on Friday, August 2nd. Ten investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, The Hartford Financial Services Group currently has an average rating of “Moderate Buy” and a consensus target price of $122.00.

The Hartford Financial Services Group Price Performance

Shares of NYSE HIG opened at $123.74 on Thursday. The stock has a market capitalization of $35.87 billion, a price-to-earnings ratio of 12.40, a PEG ratio of 1.00 and a beta of 0.94. The Hartford Financial Services Group, Inc. has a 12 month low of $76.65 and a 12 month high of $124.90. The firm’s 50 day simple moving average is $117.16 and its 200-day simple moving average is $109.84. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.32 and a quick ratio of 0.32.

The Hartford Financial Services Group Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 3rd. Stockholders of record on Monday, December 2nd will be given 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 dividend on an annualized basis and a dividend yield of 1.68%. The Hartford Financial Services Group’s dividend payout ratio (DPR) is 18.84%.

The Hartford Financial Services Group 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.