The Manufacturers Life Insurance Company Has $40.45 Million Stock Position in The Hartford Financial Services Group, Inc. (NYSE:HIG)

The Manufacturers Life Insurance Company trimmed its holdings in shares of The Hartford Financial Services Group, Inc. (NYSE:HIG) by 3.7% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 343,909 shares of the insurance provider’s stock after selling 13,350 shares during the period. The Manufacturers Life Insurance Company owned approximately 0.12% of The Hartford Financial Services Group worth $40,447,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently bought and sold shares of the business. Dimensional Fund Advisors LP raised its position in The Hartford Financial Services Group by 1.2% during the second quarter. Dimensional Fund Advisors LP now owns 5,809,358 shares of the insurance provider’s stock valued at $584,177,000 after buying an additional 69,007 shares during the period. AQR Capital Management LLC raised its position in The Hartford Financial Services Group by 4.9% during the second quarter. AQR Capital Management LLC now owns 1,497,960 shares of the insurance provider’s stock valued at $150,605,000 after buying an additional 70,018 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its position in The Hartford Financial Services Group by 2.4% during the second quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 1,367,400 shares of the insurance provider’s stock valued at $137,478,000 after buying an additional 31,806 shares during the period. Bahl & Gaynor Inc. increased its position in The Hartford Financial Services Group by 3.4% in the 2nd quarter. Bahl & Gaynor Inc. now owns 1,229,133 shares of the insurance provider’s stock worth $123,577,000 after purchasing an additional 40,400 shares during the last quarter. Finally, Robeco Institutional Asset Management B.V. increased its position in 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 purchasing an additional 221,778 shares during the last quarter. 93.42% of the stock is owned by institutional investors and hedge funds.

The Hartford Financial Services Group Price Performance

Shares of NYSE:HIG opened at $123.74 on Friday. The business has a 50 day moving average price of $117.32 and a 200 day moving average price of $109.94. The Hartford Financial Services Group, Inc. has a twelve month low of $76.65 and a twelve month high of $124.90. The company has a market cap of $35.87 billion, a price-to-earnings ratio of 12.40, a PEG ratio of 1.00 and a beta of 0.94. 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 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 paid a dividend of $0.52 per share. 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. This represents a $2.08 annualized dividend and a yield of 1.68%. The Hartford Financial Services Group’s dividend payout ratio is presently 20.84%.

Insider Activity at The Hartford Financial Services Group

In related news, EVP Adin M. Tooker sold 6,865 shares of the stock in a transaction that occurred 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 $3,021,972.80. This represents a 21.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 1.60% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several brokerages have weighed in on HIG. JPMorgan Chase & Co. upped 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. UBS Group upped their target price on The Hartford Financial Services Group from $134.00 to $135.00 and gave the stock a “buy” rating in a research report on Tuesday, October 15th. Bank of America upped their target price on The Hartford Financial Services Group from $121.00 to $124.00 and gave the stock a “neutral” rating in a research report on Thursday, October 10th. StockNews.com raised The Hartford Financial Services Group from a “hold” rating to a “buy” rating in a research report on Friday, November 15th. Finally, Wells Fargo & Company upped their target price on The Hartford Financial Services Group from $122.00 to $134.00 and gave the stock an “overweight” rating in a research report on Tuesday, September 17th. Ten 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 company’s stock. According to data from MarketBeat.com, The Hartford Financial Services Group has an average rating of “Moderate Buy” and an average price target of $122.00.

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.