Investment Management Corp of Ontario Boosts Holdings in The Hartford Financial Services Group, Inc. (NYSE:HIG)

Investment Management Corp of Ontario boosted its position in shares of The Hartford Financial Services Group, Inc. (NYSE:HIG) by 4.7% during the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 69,013 shares of the insurance provider’s stock after purchasing an additional 3,100 shares during the quarter. Investment Management Corp of Ontario’s holdings in The Hartford Financial Services Group were worth $8,117,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of HIG. DT Investment Partners LLC purchased a new stake in shares of The Hartford Financial Services Group during the third quarter valued at approximately $26,000. Clean Yield Group purchased a new stake in The Hartford Financial Services Group during the 3rd quarter valued at $33,000. Quest Partners LLC increased its holdings in shares of 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 worth $29,000 after purchasing an additional 275 shares in the last quarter. BNP Paribas bought a new position in shares of The Hartford Financial Services Group during the third quarter valued at $35,000. Finally, Family Firm Inc. purchased a new stake in shares of The Hartford Financial Services Group during the second quarter valued at $31,000. 93.42% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at The Hartford Financial Services Group

In other The Hartford Financial Services Group news, EVP Adin M. Tooker sold 6,865 shares of the business’s 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 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 legal filing with the SEC, which is available through this link. 1.60% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several equities analysts have issued reports on HIG shares. Wells Fargo & Company upped 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. Keefe, Bruyette & Woods increased their price objective 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. Jefferies Financial Group raised their target price on shares of The Hartford Financial Services Group from $113.00 to $127.00 and gave the stock a “hold” rating in a report on Wednesday, October 9th. StockNews.com upgraded shares of The Hartford Financial Services Group from a “hold” rating to a “buy” rating in a research note on Friday, November 15th. Finally, BMO Capital Markets increased their target price on The Hartford Financial Services Group from $100.00 to $141.00 and gave the company a “market perform” rating in a report on Wednesday, November 27th. Ten research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $122.00.

The Hartford Financial Services Group Trading Down 1.2 %

Shares of HIG stock opened at $121.28 on Tuesday. The stock’s 50-day moving average price is $117.55 and its 200-day moving average price is $110.36. The Hartford Financial Services Group, Inc. has a 12-month low of $77.59 and a 12-month high of $124.90. The stock has a market capitalization of $35.16 billion, a price-to-earnings ratio of 12.15, a price-to-earnings-growth ratio of 1.01 and a beta of 0.95. The company has a current ratio of 0.32, a quick ratio of 0.32 and a debt-to-equity ratio of 0.26.

The Hartford Financial Services Group Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 3rd. Stockholders of record on Monday, December 2nd will be given a dividend of $0.52 per share. This is an increase from The Hartford Financial Services Group’s previous quarterly dividend of $0.47. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.72%. The ex-dividend date of this dividend is Monday, December 2nd. The Hartford Financial Services Group’s dividend payout ratio is currently 18.84%.

The Hartford Financial Services Group Company 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.