Teachers Retirement System of The State of Kentucky Reduces Stock Holdings in The Hartford Financial Services Group, Inc. (NYSE:HIG)

Teachers Retirement System of The State of Kentucky cut its holdings in The Hartford Financial Services Group, Inc. (NYSE:HIG) by 7.0% in the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 22,599 shares of the insurance provider’s stock after selling 1,693 shares during the quarter. Teachers Retirement System of The State of Kentucky’s holdings in The Hartford Financial Services Group were worth $2,657,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in HIG. Blue Trust Inc. grew its position in The Hartford Financial Services Group by 43.5% during the 2nd quarter. Blue Trust Inc. now owns 3,188 shares of the insurance provider’s stock worth $329,000 after purchasing an additional 966 shares during the last quarter. Nisa Investment Advisors LLC increased its position in shares of The Hartford Financial Services Group by 1.4% in the 2nd quarter. Nisa Investment Advisors LLC now owns 87,606 shares of the insurance provider’s stock valued at $8,849,000 after acquiring an additional 1,180 shares during the period. Raymond James Financial Services Advisors Inc. raised its stake in The Hartford Financial Services Group by 17.0% in the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 120,991 shares of the insurance provider’s stock worth $12,164,000 after acquiring an additional 17,584 shares during the last quarter. Pallas Capital Advisors LLC lifted its position in The Hartford Financial Services Group by 26.8% during the 2nd quarter. Pallas Capital Advisors LLC now owns 3,152 shares of the insurance provider’s stock worth $331,000 after acquiring an additional 666 shares during the period. Finally, Fifth Third Bancorp lifted its position in The Hartford Financial Services Group by 6.3% during the 2nd quarter. Fifth Third Bancorp now owns 35,535 shares of the insurance provider’s stock worth $3,573,000 after acquiring an additional 2,091 shares during the period. Institutional investors and hedge funds own 93.42% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on HIG. StockNews.com upgraded The Hartford Financial Services Group from a “hold” rating to a “buy” rating in a research note on Friday, November 15th. JPMorgan Chase & Co. upped their price objective on shares of The Hartford Financial Services Group from $122.00 to $125.00 and gave the company a “neutral” rating in a report on Friday, October 25th. Barclays started coverage on shares of The Hartford Financial Services Group in a research note on Wednesday, September 4th. They issued an “equal weight” rating and a $130.00 price objective on the stock. BMO Capital Markets upped their price target on shares of The Hartford Financial Services Group from $100.00 to $141.00 and gave the company a “market perform” rating in a report on Wednesday, November 27th. Finally, Bank of America lifted their price objective on The Hartford Financial Services Group from $121.00 to $124.00 and gave the company a “neutral” rating in a research note on Thursday, October 10th. Ten research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock presently 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 firm’s 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 transaction, the executive vice president now directly owns 25,820 shares of the company’s stock, valued at approximately $3,021,972.80. This trade represents a 21.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Company insiders own 1.60% of the company’s stock.

The Hartford Financial Services Group Stock Up 1.0 %

HIG opened at $112.08 on Monday. The company has a market cap of $32.49 billion, a PE ratio of 11.23, a price-to-earnings-growth ratio of 0.93 and a beta of 0.95. The Hartford Financial Services Group, Inc. has a twelve month low of $78.33 and a twelve month high of $124.90. The company has a 50-day moving average price of $117.41 and a 200 day moving average price of $111.31. The company has a quick ratio of 0.32, a current ratio of 0.32 and a debt-to-equity ratio of 0.26.

The Hartford Financial Services Group Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 3rd. Shareholders of record on Monday, December 2nd will be issued a dividend of $0.52 per share. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.86%. 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 presently 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.