Independent Advisor Alliance Decreases Stake in The Hartford Financial Services Group, Inc. (NYSE:HIG)

Independent Advisor Alliance lowered its position in The Hartford Financial Services Group, Inc. (NYSE:HIG) by 1.6% during the third quarter, according to its most recent filing with the SEC. The institutional investor owned 5,842 shares of the insurance provider’s stock after selling 98 shares during the period. Independent Advisor Alliance’s holdings in The Hartford Financial Services Group were worth $687,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Harvest Fund Management Co. Ltd lifted its holdings in The Hartford Financial Services Group by 56.4% in the 3rd quarter. Harvest Fund Management Co. Ltd now owns 4,764 shares of the insurance provider’s stock valued at $560,000 after purchasing an additional 1,718 shares in the last quarter. Fisher Asset Management LLC purchased a new position in shares of The Hartford Financial Services Group during the 3rd quarter worth $340,000. Daiwa Securities Group Inc. raised its holdings in shares of The Hartford Financial Services Group by 13.1% during the 3rd quarter. Daiwa Securities Group Inc. now owns 36,753 shares of the insurance provider’s stock worth $4,323,000 after acquiring an additional 4,254 shares during the period. Summit Trail Advisors LLC raised its holdings in shares of The Hartford Financial Services Group by 3.7% during the 3rd quarter. Summit Trail Advisors LLC now owns 3,445 shares of the insurance provider’s stock worth $407,000 after acquiring an additional 122 shares during the period. Finally, Swedbank AB raised its holdings in shares of The Hartford Financial Services Group by 7.5% during the 3rd quarter. Swedbank AB now owns 562,882 shares of the insurance provider’s stock worth $66,201,000 after acquiring an additional 39,035 shares during the period. Hedge funds and other institutional investors own 93.42% of the company’s stock.

The Hartford Financial Services Group Stock Performance

NYSE HIG opened at $123.74 on Thursday. The stock has a 50-day moving average of $117.16 and a two-hundred day moving average of $109.84. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.32 and a quick ratio of 0.32. The company has a market cap of $35.87 billion, a P/E ratio of 12.40, a P/E/G ratio of 1.00 and a beta of 0.94. The Hartford Financial Services Group, Inc. has a 1-year low of $76.65 and a 1-year high of $124.90.

The Hartford Financial Services Group Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 3rd. Stockholders of record on Monday, December 2nd will be paid a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 1.68%. The ex-dividend date is Monday, December 2nd. This is a boost from The Hartford Financial Services Group’s previous quarterly dividend of $0.47. The Hartford Financial Services Group’s dividend payout ratio (DPR) is presently 18.84%.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. Bank of America lifted their price target on The Hartford Financial Services Group from $121.00 to $124.00 and gave the stock a “neutral” rating in a report on Thursday, October 10th. UBS Group lifted their price target on The Hartford Financial Services Group from $134.00 to $135.00 and gave the stock a “buy” rating in a report on Tuesday, October 15th. Wells Fargo & Company lifted their price target on 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. Argus raised The Hartford Financial Services Group to a “strong-buy” rating in a research report on Friday, August 2nd. Finally, JPMorgan Chase & Co. raised their price objective 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. 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 company’s stock. According to MarketBeat, The Hartford Financial Services Group has a consensus rating of “Moderate Buy” and a consensus target price of $122.00.

Insider Activity

In other news, EVP Adin M. Tooker sold 6,865 shares of The Hartford Financial Services Group stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $117.04, for a total value of $803,479.60. Following the completion of the transaction, the executive vice president now owns 25,820 shares in the company, valued at approximately $3,021,972.80. This trade represents a 21.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 1.60% of the company’s stock.

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.