The Hartford Financial Services Group, Inc. (NYSE:HIG) Stake Lessened by Bank of Hawaii

Bank of Hawaii trimmed its stake in shares of The Hartford Financial Services Group, Inc. (NYSE:HIG) by 3.4% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 8,074 shares of the insurance provider’s stock after selling 285 shares during the quarter. Bank of Hawaii’s holdings in The Hartford Financial Services Group were worth $950,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the stock. International Assets Investment Management LLC lifted its position in shares of The Hartford Financial Services Group by 31,680.4% during 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 during the last quarter. Swedbank AB bought a new position in The Hartford Financial Services Group during the 1st quarter worth approximately $53,980,000. Robeco Institutional Asset Management B.V. grew its position in shares of 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 worth $141,078,000 after acquiring an additional 221,778 shares in the last quarter. Lighthouse Investment Partners LLC increased its holdings in shares of The Hartford Financial Services Group by 237.1% in the 2nd quarter. Lighthouse Investment Partners LLC now owns 299,364 shares of the insurance provider’s stock valued at $30,098,000 after acquiring an additional 210,546 shares during the last quarter. Finally, Achmea Investment Management B.V. raised its position in shares of The Hartford Financial Services Group by 168.8% during the 2nd quarter. Achmea Investment Management B.V. now owns 235,392 shares of the insurance provider’s stock valued at $23,666,000 after acquiring an additional 147,823 shares in the last quarter. 93.42% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, EVP Adin M. Tooker sold 6,865 shares of the stock in a transaction 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 completion of the sale, the executive vice president now owns 25,820 shares in the company, valued at approximately $3,021,972.80. This represents a 21.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.60% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several analysts have weighed in on the stock. Argus upgraded shares of The Hartford Financial Services Group to a “strong-buy” rating in a research note on Friday, August 2nd. Piper Sandler boosted their price objective on shares of The Hartford Financial Services Group from $112.00 to $125.00 and gave the company an “overweight” rating in a research report on Monday, July 29th. Wells Fargo & Company raised their target price on shares of 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. Barclays initiated coverage on The Hartford Financial Services Group in a report on Wednesday, September 4th. They set an “equal weight” rating and a $130.00 target price for the company. Finally, JPMorgan Chase & Co. raised their price target on The Hartford Financial Services Group from $122.00 to $125.00 and gave the stock a “neutral” rating in a report on Friday, October 25th. Nine investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $120.88.

The Hartford Financial Services Group Stock Up 0.9 %

Shares of HIG stock opened at $120.72 on Monday. The Hartford Financial Services Group, Inc. has a 1 year low of $76.65 and a 1 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 business’s fifty day moving average is $116.81 and its 200-day moving average is $109.46. The stock has a market cap of $35.00 billion, a PE ratio of 12.10, a price-to-earnings-growth ratio of 0.99 and a beta of 0.94.

The Hartford Financial Services Group Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 3rd. Investors of record on Monday, December 2nd will be issued a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 1.72%. This is a boost from The Hartford Financial Services Group’s previous quarterly dividend of $0.47. The ex-dividend date of this dividend is Monday, December 2nd. The Hartford Financial Services Group’s dividend payout ratio (DPR) is presently 18.84%.

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.