Point72 Hong Kong Ltd Takes Position in The Hartford Financial Services Group, Inc. (NYSE:HIG)

Point72 Hong Kong Ltd acquired a new position in shares of The Hartford Financial Services Group, Inc. (NYSE:HIG) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 11,360 shares of the insurance provider’s stock, valued at approximately $1,336,000.

Other large investors have also bought and sold shares of the company. DT Investment Partners LLC bought a new position in shares of The Hartford Financial Services Group in the third quarter worth about $26,000. Quest Partners LLC boosted its position in The Hartford Financial Services Group by 2,750.0% in the second quarter. Quest Partners LLC now owns 285 shares of the insurance provider’s stock valued at $29,000 after buying an additional 275 shares in the last quarter. Bank & Trust Co bought a new stake in shares of The Hartford Financial Services Group during the second quarter worth $30,000. Family Firm Inc. acquired a new position in shares of The Hartford Financial Services Group during the second quarter worth $31,000. Finally, Clean Yield Group bought a new position in shares of The Hartford Financial Services Group in the 3rd quarter valued at $33,000. 93.42% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

HIG has been the topic of a number of research reports. Wells Fargo & Company boosted their price objective on The Hartford Financial Services Group from $122.00 to $134.00 and gave the stock an “overweight” rating in a research report on Tuesday, September 17th. Jefferies Financial Group boosted their price target on The Hartford Financial Services Group from $113.00 to $127.00 and gave the stock a “hold” rating in a report on Wednesday, October 9th. UBS Group raised their price objective on shares of The Hartford Financial Services Group from $134.00 to $135.00 and gave the company a “buy” rating in a report on Tuesday, October 15th. JPMorgan Chase & Co. boosted their target price on shares of The Hartford Financial Services Group from $122.00 to $125.00 and gave the stock a “neutral” rating in a report on Friday, October 25th. 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 note on Tuesday, October 29th. Ten research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, The Hartford Financial Services Group presently has an average rating of “Moderate Buy” and a consensus price target of $122.00.

The Hartford Financial Services Group Price Performance

The Hartford Financial Services Group stock opened at $123.31 on Monday. The stock has a market capitalization of $35.75 billion, a price-to-earnings ratio of 12.36, a PEG ratio of 1.01 and a beta of 0.94. The Hartford Financial Services Group, Inc. has a 52-week low of $76.65 and a 52-week high of $124.90. 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 stock’s 50 day moving average price is $117.46 and its two-hundred day moving average price is $110.23.

The Hartford Financial Services Group Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 3rd. Shareholders of record on Monday, December 2nd will be paid a $0.52 dividend. This is an increase from The Hartford Financial Services Group’s previous quarterly dividend of $0.47. This represents a $2.08 annualized dividend and a yield of 1.69%. The ex-dividend date of this dividend is Monday, December 2nd. The Hartford Financial Services Group’s payout ratio is 18.84%.

Insider Transactions at The Hartford Financial Services Group

In other news, EVP Adin M. Tooker sold 6,865 shares of the business’s stock in a transaction that occurred 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 sale, the executive vice president now owns 25,820 shares in the company, valued at $3,021,972.80. The trade was a 21.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 1.60% of the company’s stock.

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.