Fmr LLC Reduces Stock Position in The Hartford Financial Services Group, Inc. (NYSE:HIG)

Fmr LLC cut its holdings in shares of The Hartford Financial Services Group, Inc. (NYSE:HIG) by 2.7% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 13,880,877 shares of the insurance provider’s stock after selling 381,883 shares during the quarter. Fmr LLC’s holdings in The Hartford Financial Services Group were worth $1,632,530,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of HIG. International Assets Investment Management LLC grew its position in shares of The Hartford Financial Services Group by 31,680.4% in the 3rd quarter. International Assets Investment Management LLC now owns 694,084 shares of the insurance provider’s stock worth $816,310,000 after acquiring an additional 691,900 shares in the last quarter. Swedbank AB acquired a new position in shares of The Hartford Financial Services Group in 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 grew its position 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 worth $30,098,000 after acquiring an additional 210,546 shares in the last quarter. Finally, Achmea Investment Management B.V. grew its position in shares of The Hartford Financial Services Group by 168.8% in the 2nd quarter. Achmea Investment Management B.V. now owns 235,392 shares of the insurance provider’s stock worth $23,666,000 after acquiring an additional 147,823 shares in the last quarter. 93.42% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

HIG has been the subject of several research reports. JPMorgan Chase & Co. lifted their target price on The Hartford Financial Services Group from $122.00 to $125.00 and gave the stock a “neutral” rating in a research report on Friday, October 25th. Wells Fargo & Company boosted their price objective on The Hartford Financial Services Group from $122.00 to $134.00 and gave the company an “overweight” rating in a research report on Tuesday, September 17th. Bank of America boosted their price objective on 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. Keefe, Bruyette & Woods boosted their price objective on The Hartford Financial Services Group from $133.00 to $135.00 and gave the company an “outperform” rating in a research report on Tuesday, October 29th. Finally, Jefferies Financial Group boosted their price objective on The Hartford Financial Services Group from $113.00 to $127.00 and gave the company a “hold” rating in a research report on Wednesday, October 9th. Nine research 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’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $120.88.

The Hartford Financial Services Group Stock Up 0.9 %

HIG opened at $122.61 on Wednesday. The Hartford Financial Services Group, Inc. has a one year low of $76.65 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 stock’s fifty day moving average is $117.02 and its 200-day moving average is $109.75. The company has a market capitalization of $35.54 billion, a PE ratio of 12.29, a P/E/G ratio of 1.00 and a beta of 0.94.

The Hartford Financial Services Group Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 3rd. Stockholders of record on Monday, December 2nd will be paid a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.70%. The ex-dividend date of this dividend is Monday, December 2nd. This is an increase from The Hartford Financial Services Group’s previous quarterly dividend of $0.47. The Hartford Financial Services Group’s payout ratio is currently 18.84%.

Insider Transactions at The Hartford Financial Services Group

In other news, EVP Adin M. Tooker sold 6,865 shares of the business’s 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 sale, the executive vice president now directly owns 25,820 shares of the company’s stock, valued at $3,021,972.80. The trade was a 21.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 1.60% of the company’s stock.

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.