MetLife Investment Management LLC Has $8.96 Million Stock Position in The Hartford Financial Services Group, Inc. (NYSE:HIG)

MetLife Investment Management LLC lessened its position in shares of The Hartford Financial Services Group, Inc. (NYSE:HIG) by 3.5% in the third quarter, according to its most recent filing with the SEC. The firm owned 76,180 shares of the insurance provider’s stock after selling 2,723 shares during the quarter. MetLife Investment Management LLC’s holdings in The Hartford Financial Services Group were worth $8,960,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in HIG. DT Investment Partners LLC acquired a new stake in shares of The Hartford Financial Services Group during the third quarter worth $26,000. Quest Partners LLC boosted its position in The Hartford Financial Services Group by 2,750.0% during the second quarter. Quest Partners LLC now owns 285 shares of the insurance provider’s stock valued at $29,000 after acquiring an additional 275 shares during the last quarter. Bank & Trust Co acquired a new stake in The Hartford Financial Services Group during the 2nd quarter worth about $30,000. Family Firm Inc. bought a new position in shares of The Hartford Financial Services Group in the 2nd quarter worth about $31,000. Finally, Clean Yield Group acquired a new position in shares of The Hartford Financial Services Group in the 3rd quarter valued at about $33,000. Institutional investors own 93.42% of the company’s stock.

Insider Activity

In related news, EVP Adin M. Tooker sold 6,865 shares of The Hartford Financial Services Group stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $117.04, for a total value of $803,479.60. Following the sale, the executive vice president now owns 25,820 shares of the company’s stock, valued at approximately $3,021,972.80. The trade was a 21.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 1.60% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on HIG. StockNews.com upgraded The Hartford Financial Services Group from a “hold” rating to a “buy” rating in a report on Friday, November 15th. Bank of America lifted 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 note on Thursday, October 10th. Barclays began coverage on shares of The Hartford Financial Services Group in a research note on Wednesday, September 4th. They set an “equal weight” rating and a $130.00 target price on the stock. JPMorgan Chase & Co. lifted their price target on shares of The Hartford Financial Services Group from $122.00 to $125.00 and gave the company a “neutral” rating in a research note on Friday, October 25th. Finally, BMO Capital Markets raised their target price on The Hartford Financial Services Group from $100.00 to $141.00 and gave the company a “market perform” rating in a research note on Wednesday. Ten analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $122.00.

The Hartford Financial Services Group Stock Performance

Shares of HIG stock opened at $123.74 on Friday. 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 firm has a 50-day moving average of $117.32 and a 200-day moving average of $109.94. The Hartford Financial Services Group, Inc. has a one year low of $76.65 and a one year high of $124.90. The company has a market cap of $35.87 billion, a P/E ratio of 12.40, a P/E/G ratio of 1.00 and a beta of 0.94.

The Hartford Financial Services Group Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 3rd. Investors of record on Monday, December 2nd will be given a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.68%. This is an increase from The Hartford Financial Services Group’s previous quarterly dividend of $0.47. The ex-dividend date is Monday, December 2nd. The Hartford Financial Services Group’s dividend payout ratio (DPR) is presently 20.84%.

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.