SMART Wealth LLC Invests $258,000 in The Hartford Financial Services Group, Inc. (NYSE:HIG)

SMART Wealth LLC acquired a new position in shares of The Hartford Financial Services Group, Inc. (NYSE:HIG) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 2,191 shares of the insurance provider’s stock, valued at approximately $258,000.

A number of other hedge funds have also bought and sold shares of the company. Peapack Gladstone Financial Corp bought a new position in shares of The Hartford Financial Services Group in the 3rd quarter worth about $420,000. Synovus Financial Corp grew its stake in The Hartford Financial Services Group by 4.0% during the third quarter. Synovus Financial Corp now owns 10,029 shares of the insurance provider’s stock worth $1,180,000 after purchasing an additional 384 shares during the period. Tidal Investments LLC increased its holdings in The Hartford Financial Services Group by 73.0% in the third quarter. Tidal Investments LLC now owns 17,774 shares of the insurance provider’s stock worth $2,090,000 after purchasing an additional 7,500 shares in the last quarter. Wilmington Savings Fund Society FSB acquired a new position in The Hartford Financial Services Group in the third quarter valued at approximately $514,000. Finally, World Investment Advisors LLC bought a new position in shares of The Hartford Financial Services Group during the 3rd quarter worth approximately $661,000. Institutional investors own 93.42% of the company’s stock.

Insider Buying and Selling

In related news, EVP Adin M. Tooker sold 6,865 shares of the company’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 value of $803,479.60. Following the transaction, the executive vice president now 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 1.60% of the stock is currently owned by corporate insiders.

The Hartford Financial Services Group Stock Up 1.0 %

HIG stock opened at $112.08 on Monday. The stock has a market cap of $32.49 billion, a P/E ratio of 11.23, a P/E/G ratio of 0.93 and a beta of 0.95. 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 stock’s fifty day simple moving average is $117.41 and its two-hundred day simple moving average is $111.31. The Hartford Financial Services Group, Inc. has a 1-year low of $78.33 and a 1-year high of $124.90.

The Hartford Financial Services Group Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 3rd. Investors 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 yield of 1.86%. 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 presently 20.84%.

Analyst Ratings Changes

Several research analysts recently issued reports on the stock. Jefferies Financial Group increased 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 note on Wednesday, October 9th. JPMorgan Chase & Co. raised their target price on The Hartford Financial Services Group from $122.00 to $125.00 and gave the company a “neutral” rating in a research note on Friday, October 25th. Bank of America upped their price target on The Hartford Financial Services Group from $121.00 to $124.00 and gave the stock a “neutral” rating in a research note on Thursday, October 10th. Wells Fargo & Company raised their price objective on The Hartford Financial Services Group from $122.00 to $134.00 and gave the company an “overweight” rating in a research note on Tuesday, September 17th. Finally, BMO Capital Markets upped their target price on The Hartford Financial Services Group from $100.00 to $141.00 and gave the stock a “market perform” rating in a research report on Wednesday, November 27th. Ten 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.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $122.00.

The Hartford Financial Services Group Company 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.