MidWestOne Financial Group Inc. Invests $212,000 in The Hartford Financial Services Group, Inc. (NYSE:HIG)

MidWestOne Financial Group Inc. acquired a new position in The Hartford Financial Services Group, Inc. (NYSE:HIG) during the third quarter, Holdings Channel.com reports. The firm acquired 1,800 shares of the insurance provider’s stock, valued at approximately $212,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Concurrent Investment Advisors LLC acquired a new stake in shares of The Hartford Financial Services Group in the second quarter worth $213,000. Skandinaviska Enskilda Banken AB publ increased its stake in shares of The Hartford Financial Services Group by 27.6% in the second quarter. Skandinaviska Enskilda Banken AB publ now owns 221,896 shares of the insurance provider’s stock worth $22,309,000 after acquiring an additional 48,004 shares during the period. Dai ichi Life Insurance Company Ltd boosted its holdings in The Hartford Financial Services Group by 3.3% during the third quarter. Dai ichi Life Insurance Company Ltd now owns 137,506 shares of the insurance provider’s stock worth $16,172,000 after buying an additional 4,449 shares in the last quarter. HighTower Advisors LLC grew its position in The Hartford Financial Services Group by 7.1% during the third quarter. HighTower Advisors LLC now owns 111,134 shares of the insurance provider’s stock valued at $13,063,000 after buying an additional 7,350 shares during the period. Finally, Lecap Asset Management Ltd. acquired a new stake in The Hartford Financial Services Group during the third quarter valued at $633,000. Institutional investors and hedge funds own 93.42% of the company’s stock.

The Hartford Financial Services Group Stock Performance

HIG opened at $112.99 on Wednesday. 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 firm’s 50-day moving average price is $117.83 and its 200 day moving average price is $110.98. The Hartford Financial Services Group, Inc. has a twelve month low of $78.33 and a twelve month high of $124.90. The firm has a market capitalization of $32.75 billion, a PE ratio of 11.32, a PEG ratio of 0.98 and a beta of 0.95.

The Hartford Financial Services Group Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 3rd. Shareholders of record on Monday, December 2nd will be paid a dividend of $0.52 per share. The ex-dividend date is Monday, December 2nd. 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 yield of 1.84%. The Hartford Financial Services Group’s payout ratio is 20.84%.

Insiders Place Their Bets

In other The Hartford Financial Services Group news, EVP Adin M. Tooker sold 6,865 shares of The Hartford Financial Services Group stock in a transaction dated Friday, November 15th. The shares were 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 $3,021,972.80. The trade was a 21.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 1.60% of the stock is owned by insiders.

Wall Street Analyst Weigh In

HIG has been the topic of several analyst reports. JPMorgan Chase & Co. raised their price target on shares of The Hartford Financial Services Group from $122.00 to $125.00 and gave the company a “neutral” rating in a research report on Friday, October 25th. Barclays initiated coverage on shares of The Hartford Financial Services Group in a research report on Wednesday, September 4th. They set an “equal weight” rating and a $130.00 price target on the stock. UBS Group raised their price target on shares of 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. BMO Capital Markets raised their price target on shares of The Hartford Financial Services Group from $100.00 to $141.00 and gave the company a “market perform” rating in a research report on Wednesday, November 27th. Finally, Keefe, Bruyette & Woods raised their price target 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. Ten 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 stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus 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.