MetLife Investment Management LLC Sells 2,723 Shares of The Hartford Financial Services Group, Inc. (NYSE:HIG)

MetLife Investment Management LLC cut its stake in shares of The Hartford Financial Services Group, Inc. (NYSE:HIG) by 3.5% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 76,180 shares of the insurance provider’s stock after selling 2,723 shares during the period. MetLife Investment Management LLC’s holdings in The Hartford Financial Services Group were worth $8,960,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Tidal Investments LLC lifted its position in The Hartford Financial Services Group by 108.4% during the first quarter. Tidal Investments LLC now owns 19,098 shares of the insurance provider’s stock valued at $1,968,000 after purchasing an additional 9,932 shares during the last quarter. Citizens Financial Group Inc. RI boosted its holdings in shares of The Hartford Financial Services Group by 7.2% in the 1st quarter. Citizens Financial Group Inc. RI now owns 5,220 shares of the insurance provider’s stock worth $538,000 after purchasing an additional 352 shares in the last quarter. Atria Investments Inc bought a new position in shares of The Hartford Financial Services Group during the 1st quarter valued at about $1,328,000. Cetera Investment Advisers raised its holdings in shares of The Hartford Financial Services Group by 104.8% during the 1st quarter. Cetera Investment Advisers now owns 55,465 shares of the insurance provider’s stock valued at $5,716,000 after buying an additional 28,383 shares in the last quarter. Finally, Cetera Advisors LLC lifted its position in The Hartford Financial Services Group by 64.8% in the 1st quarter. Cetera Advisors LLC now owns 17,472 shares of the insurance provider’s stock worth $1,800,000 after buying an additional 6,872 shares during the last quarter. 93.42% of the stock is currently owned by hedge funds and other institutional investors.

The Hartford Financial Services Group Stock Performance

Shares of HIG stock opened at $123.74 on Friday. The company’s fifty day moving average price is $117.32 and its 200-day moving average price is $109.94. The stock has a market cap of $35.87 billion, a PE ratio of 12.40, a price-to-earnings-growth ratio of 1.00 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 12 month low of $76.65 and a 12 month high of $124.90.

The Hartford Financial Services Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 3rd. Shareholders of record on Monday, December 2nd will be issued a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 1.68%. The ex-dividend date of this dividend 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 is 20.84%.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. Barclays initiated coverage on shares of The Hartford Financial Services Group in a report on Wednesday, September 4th. They set an “equal weight” rating and a $130.00 target price on the stock. UBS Group lifted their price objective 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. Jefferies Financial Group increased their target price on The Hartford Financial Services Group from $113.00 to $127.00 and gave the company a “hold” rating in a report on Wednesday, October 9th. Keefe, Bruyette & Woods boosted their price objective on 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. Finally, Wells Fargo & Company lifted their target price on shares of The Hartford Financial Services Group from $122.00 to $134.00 and gave the stock an “overweight” rating in a research note on Tuesday, September 17th. Ten 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’s stock. According to data from MarketBeat, The Hartford Financial Services Group presently has a consensus rating of “Moderate Buy” and an average price target of $122.00.

Insider Activity

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 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 completion of the transaction, the executive vice president now owns 25,820 shares in the company, valued at approximately $3,021,972.80. The trade was a 21.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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.