The Hartford Financial Services Group, Inc. (NYSE:HIG) Shares Acquired by Harvest Fund Management Co. Ltd

Harvest Fund Management Co. Ltd boosted its stake in The Hartford Financial Services Group, Inc. (NYSE:HIG) by 56.4% in the third quarter, Holdings Channel.com reports. The firm owned 4,764 shares of the insurance provider’s stock after acquiring an additional 1,718 shares during the quarter. Harvest Fund Management Co. Ltd’s holdings in The Hartford Financial Services Group were worth $560,000 at the end of the most recent quarter.

Several other institutional investors also recently made changes to their positions in the stock. Tidal Investments LLC grew its stake in shares of The Hartford Financial Services Group by 108.4% in the first quarter. Tidal Investments LLC now owns 19,098 shares of the insurance provider’s stock valued at $1,968,000 after buying an additional 9,932 shares in the last quarter. Plato Investment Management Ltd lifted its position in shares of The Hartford Financial Services Group by 6,384.1% during the first quarter. Plato Investment Management Ltd now owns 17,961 shares of the insurance provider’s stock worth $1,851,000 after purchasing an additional 17,684 shares in the last quarter. New Covenant Trust Company N.A. purchased a new position in shares of The Hartford Financial Services Group in the first quarter valued at $26,000. Citizens Financial Group Inc. RI grew its holdings in The Hartford Financial Services Group by 7.2% during the 1st quarter. Citizens Financial Group Inc. RI now owns 5,220 shares of the insurance provider’s stock valued at $538,000 after purchasing an additional 352 shares in the last quarter. Finally, Virtu Financial LLC purchased a new stake in The Hartford Financial Services Group during the 1st quarter worth $2,788,000. 93.42% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

HIG has been the subject of several recent analyst reports. Bank of America lifted 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. JPMorgan Chase & Co. raised their price target on shares of 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. Keefe, Bruyette & Woods lifted their price target on The Hartford Financial Services Group from $133.00 to $135.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 29th. Barclays assumed coverage on shares of The Hartford Financial Services Group in a research note on Wednesday, September 4th. They set an “equal weight” rating and a $130.00 target price for the company. Finally, UBS Group increased their price target 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. Nine equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $120.88.

Insider Buying and Selling

In related news, EVP Adin M. Tooker sold 6,865 shares of the company’s stock in a transaction 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 transaction, the executive vice president now directly 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 1.60% of the company’s stock.

The Hartford Financial Services Group Price Performance

HIG stock opened at $122.61 on Wednesday. The firm has a 50-day moving average of $117.02 and a two-hundred day moving average of $109.75. The firm has a market capitalization of $35.54 billion, a PE ratio of 12.29, a P/E/G ratio of 0.99 and a beta of 0.94. 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, Inc. has a one year low of $76.65 and a one year high of $123.23.

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 $0.52 dividend. This is a positive change from The Hartford Financial Services Group’s previous quarterly dividend of $0.47. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $2.08 dividend on an annualized basis and a yield of 1.70%. The Hartford Financial Services Group’s dividend payout ratio (DPR) 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.