Adin M. Tooker Sells 6,865 Shares of The Hartford Financial Services Group, Inc. (NYSE:HIG) Stock

The Hartford Financial Services Group, Inc. (NYSE:HIG) 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 transaction 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

The Hartford Financial Services Group Stock Up 1.2 %

Shares of NYSE HIG opened at $118.19 on Thursday. The company has a quick ratio of 0.32, a current ratio of 0.32 and a debt-to-equity ratio of 0.26. The Hartford Financial Services Group, Inc. has a 52 week low of $76.25 and a 52 week high of $123.23. The firm’s fifty day moving average is $116.62 and its 200 day moving average is $109.10. The company has a market cap of $34.26 billion, a price-to-earnings ratio of 11.84, a PEG ratio of 0.97 and a beta of 0.94.

The Hartford Financial Services Group Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 3rd. Investors of record on Monday, December 2nd will be paid a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 1.76%. This is an increase 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 payout ratio is presently 20.84%.

The Hartford Financial Services Group declared that its Board of Directors has approved a stock repurchase program on Thursday, July 25th that permits the company to repurchase $3.30 billion in outstanding shares. This repurchase authorization permits the insurance provider to repurchase up to 10.9% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s leadership believes its shares are undervalued.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. Argus upgraded shares of The Hartford Financial Services Group to a “strong-buy” rating in a research report on Friday, August 2nd. Jefferies Financial Group lifted their target price on shares of 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. Wells Fargo & Company lifted their target price on shares of 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. StockNews.com upgraded shares of The Hartford Financial Services Group from a “hold” rating to a “buy” rating in a research report on Friday, November 15th. Finally, Keefe, Bruyette & Woods lifted their target price on shares of 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. Nine research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, The Hartford Financial Services Group presently has a consensus rating of “Moderate Buy” and a consensus price target of $120.88.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in HIG. International Assets Investment Management LLC increased its position in The Hartford Financial Services Group by 31,680.4% during the 3rd quarter. International Assets Investment Management LLC now owns 694,084 shares of the insurance provider’s stock valued at $816,310,000 after purchasing an additional 691,900 shares during the period. Swedbank AB purchased a new position in The Hartford Financial Services Group during the 1st quarter valued at $53,980,000. Caisse DE Depot ET Placement DU Quebec increased its position in The Hartford Financial Services Group by 42.1% during the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 935,298 shares of the insurance provider’s stock valued at $110,000,000 after purchasing an additional 277,295 shares during the period. Verition Fund Management LLC increased its position in The Hartford Financial Services Group by 7,564.9% during the 3rd quarter. Verition Fund Management LLC now owns 248,648 shares of the insurance provider’s stock valued at $29,243,000 after purchasing an additional 245,404 shares during the period. Finally, Robeco Institutional Asset Management B.V. increased its position in The Hartford Financial Services Group by 22.7% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 1,199,542 shares of the insurance provider’s stock valued at $141,078,000 after purchasing an additional 221,778 shares during the period. 93.42% of the stock is owned by hedge funds and other institutional investors.

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.