Point72 Hong Kong Ltd Makes New $1.34 Million Investment in The Hartford Financial Services Group, Inc. (NYSE:HIG)

Point72 Hong Kong Ltd bought a new stake in The Hartford Financial Services Group, Inc. (NYSE:HIG) during the third quarter, Holdings Channel reports. The institutional investor bought 11,360 shares of the insurance provider’s stock, valued at approximately $1,336,000.

Several other hedge funds also recently modified their holdings of HIG. Erste Asset Management GmbH bought a new position in The Hartford Financial Services Group during the 3rd quarter valued at $1,133,000. Edgestream Partners L.P. raised its holdings in shares of The Hartford Financial Services Group by 124.6% in the third quarter. Edgestream Partners L.P. now owns 7,039 shares of the insurance provider’s stock valued at $828,000 after purchasing an additional 3,905 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec lifted its position in shares of The Hartford Financial Services Group by 42.1% during the third 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 in the last quarter. Verition Fund Management LLC boosted its holdings in The Hartford Financial Services Group by 7,564.9% during the third quarter. Verition Fund Management LLC now owns 248,648 shares of the insurance provider’s stock worth $29,243,000 after purchasing an additional 245,404 shares during the last quarter. Finally, Captrust Financial Advisors grew its position in The Hartford Financial Services Group by 6.4% in the 3rd quarter. Captrust Financial Advisors now owns 20,131 shares of the insurance provider’s stock worth $2,368,000 after purchasing an additional 1,214 shares in the last quarter. Hedge funds and other institutional investors own 93.42% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have commented on HIG shares. Keefe, Bruyette & Woods lifted their target price on shares of The Hartford Financial Services Group from $133.00 to $135.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 29th. BMO Capital Markets lifted their price target on The Hartford Financial Services Group from $100.00 to $141.00 and gave the stock a “market perform” rating in a report on Wednesday, November 27th. UBS Group raised their target price on The Hartford Financial Services Group from $134.00 to $135.00 and gave the company a “buy” rating in a research report on Tuesday, October 15th. StockNews.com raised shares of The Hartford Financial Services Group from a “hold” rating to a “buy” rating in a report on Friday, November 15th. Finally, Wells Fargo & Company raised their price objective 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. Ten investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, The Hartford Financial Services Group currently has an average rating of “Moderate Buy” and a consensus target price of $122.00.

The Hartford Financial Services Group Stock Down 0.3 %

Shares of NYSE HIG opened at $123.31 on Monday. The business has a 50-day simple moving average of $117.46 and a two-hundred day simple moving average of $110.23. The Hartford Financial Services Group, Inc. has a 52 week low of $76.65 and a 52 week high of $124.90. The company has a market cap of $35.75 billion, a P/E ratio of 12.36, a P/E/G ratio of 1.01 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 company also recently disclosed 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. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $2.08 annualized dividend and a yield of 1.69%. This is a boost 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%.

Insiders Place Their Bets

In related news, EVP Adin M. Tooker sold 6,865 shares of the business’s 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 transaction, the executive vice president now directly owns 25,820 shares in the company, valued at $3,021,972.80. The trade was a 21.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate 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.