The Hartford Financial Services Group, Inc. (NYSE:HIG) Holdings Trimmed by Chevy Chase Trust Holdings LLC

Chevy Chase Trust Holdings LLC lessened its holdings in The Hartford Financial Services Group, Inc. (NYSE:HIG) by 2.7% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 157,739 shares of the insurance provider’s stock after selling 4,341 shares during the period. Chevy Chase Trust Holdings LLC’s holdings in The Hartford Financial Services Group were worth $18,552,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Point72 Asia Singapore Pte. Ltd. purchased a new stake in The Hartford Financial Services Group in the 3rd quarter worth about $1,840,000. Point72 Hong Kong Ltd purchased a new position in The Hartford Financial Services Group during the third quarter valued at approximately $1,336,000. Erste Asset Management GmbH acquired a new position in The Hartford Financial Services Group in the 3rd quarter valued at approximately $1,133,000. Edgestream Partners L.P. lifted its position in The Hartford Financial Services Group by 124.6% in the 3rd quarter. Edgestream Partners L.P. now owns 7,039 shares of the insurance provider’s stock worth $828,000 after buying an additional 3,905 shares in the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec boosted its stake in shares of The Hartford Financial Services Group by 42.1% during the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 935,298 shares of the insurance provider’s stock valued at $110,000,000 after buying an additional 277,295 shares during the period. Hedge funds and other institutional investors own 93.42% of the company’s stock.

The Hartford Financial Services Group Price Performance

Shares of NYSE:HIG opened at $120.85 on Wednesday. The business’s 50 day moving average is $117.64 and its 200-day moving average is $110.49. 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 firm has a market capitalization of $35.03 billion, a PE ratio of 12.11, a PEG ratio of 1.00 and a beta of 0.95. The Hartford Financial Services Group, Inc. has a 1-year low of $77.59 and a 1-year high of $124.90.

The Hartford Financial Services Group Increases Dividend

The firm also recently declared 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 annualized dividend and a yield of 1.72%. The ex-dividend date of this dividend is Monday, December 2nd. This is a positive change from The Hartford Financial Services Group’s previous quarterly dividend of $0.47. The Hartford Financial Services Group’s payout ratio is 20.84%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on HIG shares. StockNews.com raised shares of The Hartford Financial Services Group from a “hold” rating to a “buy” rating in a research note on Friday, November 15th. JPMorgan Chase & Co. lifted their price target on 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. BMO Capital Markets raised their price objective on shares of The Hartford Financial Services Group from $100.00 to $141.00 and gave the company a “market perform” rating in a research report on Wednesday, November 27th. Bank of America boosted their target price on shares of The Hartford Financial Services Group from $121.00 to $124.00 and gave the stock a “neutral” rating in a research report on Thursday, October 10th. Finally, Jefferies Financial Group raised their price target on shares of 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. Ten analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, The Hartford Financial Services Group has an average 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 Hartford Financial Services Group stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $117.04, for a total transaction of $803,479.60. Following the sale, the executive vice president now directly owns 25,820 shares in the company, valued at approximately $3,021,972.80. The trade was a 21.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 1.60% of the company’s stock.

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.