Quarry LP Lowers Position in The Hartford Financial Services Group, Inc. (NYSE:HIG)

Quarry LP trimmed its holdings in shares of The Hartford Financial Services Group, Inc. (NYSE:HIG) by 39.5% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 363 shares of the insurance provider’s stock after selling 237 shares during the period. Quarry LP’s holdings in The Hartford Financial Services Group were worth $43,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of HIG. Sequoia Financial Advisors LLC lifted its position in The Hartford Financial Services Group by 9.6% during the second quarter. Sequoia Financial Advisors LLC now owns 5,893 shares of the insurance provider’s stock valued at $593,000 after buying an additional 514 shares in the last quarter. Wedmont Private Capital lifted its position in The Hartford Financial Services Group by 8.5% during the second quarter. Wedmont Private Capital now owns 3,978 shares of the insurance provider’s stock valued at $405,000 after buying an additional 312 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its position in The Hartford Financial Services Group by 19.5% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 72,992 shares of the insurance provider’s stock valued at $7,339,000 after buying an additional 11,934 shares in the last quarter. Baader Bank Aktiengesellschaft lifted its position in The Hartford Financial Services Group by 3.3% during the second quarter. Baader Bank Aktiengesellschaft now owns 7,438 shares of the insurance provider’s stock valued at $743,000 after buying an additional 238 shares in the last quarter. Finally, Wedge Capital Management L L P NC lifted its position in The Hartford Financial Services Group by 10.5% during the second quarter. Wedge Capital Management L L P NC now owns 430,770 shares of the insurance provider’s stock valued at $43,310,000 after buying an additional 40,975 shares in the last quarter. 93.42% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have recently commented on HIG. StockNews.com raised shares of The Hartford Financial Services Group from a “hold” rating to a “buy” rating in a research report on Friday, November 15th. Keefe, Bruyette & Woods boosted their target price on shares of The Hartford Financial Services Group from $133.00 to $135.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 29th. Barclays began 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 target price on the stock. UBS Group boosted their target price on shares of 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. Finally, Jefferies Financial Group boosted 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 research report on Wednesday, October 9th. Ten 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. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $122.00.

The Hartford Financial Services Group Stock Down 2.8 %

The Hartford Financial Services Group stock opened at $112.99 on Wednesday. The company has a 50-day simple moving average of $117.83 and a 200-day simple moving average of $110.98. The firm has a market capitalization of $32.75 billion, a P/E ratio of 11.32, a P/E/G ratio of 0.98 and a beta of 0.95. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.32 and a current ratio of 0.32. The Hartford Financial Services Group, Inc. has a one year low of $78.33 and a one year high of $124.90.

The Hartford Financial Services Group Increases Dividend

The company also recently declared 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. The ex-dividend date is Monday, December 2nd. This represents a $2.08 annualized dividend and a dividend yield of 1.84%. This is a positive change from The Hartford Financial Services Group’s previous quarterly dividend of $0.47. The Hartford Financial Services Group’s dividend payout ratio is currently 20.84%.

Insider Activity at The Hartford Financial Services Group

In related news, EVP Adin M. Tooker sold 6,865 shares of the stock in a transaction dated Friday, November 15th. The shares were 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 $3,021,972.80. This represents a 21.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 1.60% of the stock is currently owned by insiders.

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.