Advisors Asset Management Inc. Has $2.59 Million Stock Position in The Hartford Financial Services Group, Inc. (NYSE:HIG)

Advisors Asset Management Inc. cut its holdings in shares of The Hartford Financial Services Group, Inc. (NYSE:HIG) by 20.8% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 22,043 shares of the insurance provider’s stock after selling 5,775 shares during the period. Advisors Asset Management Inc.’s holdings in The Hartford Financial Services Group were worth $2,592,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. New Covenant Trust Company N.A. purchased a new stake in shares of The Hartford Financial Services Group in the first quarter valued at about $26,000. DT Investment Partners LLC bought a new stake in The Hartford Financial Services Group in the 3rd quarter worth about $26,000. Quest Partners LLC increased its stake in The Hartford Financial Services Group by 2,750.0% in the 2nd quarter. Quest Partners LLC now owns 285 shares of the insurance provider’s stock valued at $29,000 after buying an additional 275 shares during the last quarter. Bank & Trust Co bought a new position in shares of The Hartford Financial Services Group during the 2nd quarter worth approximately $30,000. Finally, Family Firm Inc. purchased a new position in shares of The Hartford Financial Services Group in the 2nd quarter worth approximately $31,000. Institutional investors and hedge funds own 93.42% of the company’s stock.

Insider Activity

In other news, EVP Adin M. Tooker sold 6,865 shares of The Hartford Financial Services Group stock in a transaction dated 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 trade represents a 21.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 1.60% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently commented on HIG shares. Jefferies Financial Group increased their price target 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. Royal Bank of Canada lifted their target price on The Hartford Financial Services Group from $105.00 to $115.00 and gave the stock a “sector perform” rating in a research note on Monday, July 29th. Bank of America boosted their price target on shares of The Hartford Financial Services Group from $121.00 to $124.00 and gave the stock a “neutral” rating in a report on Thursday, October 10th. Barclays began coverage on shares of The Hartford Financial Services Group in a report on Wednesday, September 4th. They set an “equal weight” rating and a $130.00 price objective for the company. Finally, Wells Fargo & Company boosted 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 note on Tuesday, September 17th. Nine investment 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’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $120.88.

The Hartford Financial Services Group Stock Performance

NYSE:HIG opened at $120.72 on Friday. The Hartford Financial Services Group, Inc. has a 52-week low of $76.65 and a 52-week high of $123.23. The business’s fifty day moving average is $116.81 and its 200 day moving average is $109.39. 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 firm has a market cap of $35.00 billion, a price-to-earnings ratio of 12.10, a PEG ratio of 0.98 and a beta of 0.94.

The Hartford Financial Services Group Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, January 3rd. Shareholders of record on Monday, December 2nd will be issued a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 1.72%. 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 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.