Point72 DIFC Ltd Buys 31,342 Shares of The Hartford Financial Services Group, Inc. (NYSE:HIG)

Point72 DIFC Ltd increased its holdings in shares of The Hartford Financial Services Group, Inc. (NYSE:HIG) by 15,671.0% in the third quarter, according to its most recent filing with the SEC. The fund owned 31,542 shares of the insurance provider’s stock after acquiring an additional 31,342 shares during the period. Point72 DIFC Ltd’s holdings in The Hartford Financial Services Group were worth $3,710,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of HIG. DT Investment Partners LLC purchased a new position in shares of The Hartford Financial Services Group in the 3rd quarter worth approximately $26,000. Clean Yield Group acquired a new position in shares of The Hartford Financial Services Group during the 3rd quarter worth about $33,000. Quest Partners LLC grew its holdings in shares of The Hartford Financial Services Group by 2,750.0% during the second quarter. Quest Partners LLC now owns 285 shares of the insurance provider’s stock worth $29,000 after buying an additional 275 shares in the last quarter. BNP Paribas purchased a new position in The Hartford Financial Services Group in the 3rd quarter worth approximately $35,000. Finally, Family Firm Inc. acquired a new position in shares of The Hartford Financial Services Group during the 2nd quarter valued at about $31,000. Hedge funds and other institutional investors own 93.42% of the company’s stock.

Insiders Place Their Bets

In other news, EVP Adin M. Tooker sold 6,865 shares of the company’s stock in a transaction on 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 directly owns 25,820 shares in the company, valued at approximately $3,021,972.80. This represents a 21.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.60% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

HIG has been the topic of a number of research reports. StockNews.com upgraded The Hartford Financial Services Group from a “hold” rating to a “buy” rating in a research note on Friday, November 15th. Wells Fargo & Company upped their price target on The Hartford Financial Services Group from $122.00 to $134.00 and gave the company an “overweight” rating in a report on Tuesday, September 17th. JPMorgan Chase & Co. boosted their price target on 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 assumed coverage on 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. Finally, Keefe, Bruyette & Woods raised their price objective 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 investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $122.00.

The Hartford Financial Services Group Price Performance

HIG stock opened at $120.85 on Wednesday. The stock has a 50-day moving average price of $117.64 and a two-hundred day moving average price of $110.49. The company has a market cap of $35.03 billion, a PE ratio of 12.11, a price-to-earnings-growth ratio of 1.00 and a beta of 0.95. The Hartford Financial Services Group, Inc. has a 12-month low of $77.59 and a 12-month high of $124.90. 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 Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 3rd. Shareholders of record on Monday, December 2nd will be given a $0.52 dividend. The ex-dividend date is Monday, December 2nd. This is a positive change from The Hartford Financial Services Group’s previous quarterly dividend of $0.47. This represents a $2.08 annualized dividend and a yield of 1.72%. The Hartford Financial Services Group’s dividend payout ratio (DPR) is 20.84%.

The Hartford Financial Services Group 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.