Citigroup Inc. Increases Holdings in The Hartford Financial Services Group, Inc. (NYSE:HIG)

Citigroup Inc. raised its stake in The Hartford Financial Services Group, Inc. (NYSE:HIG) by 3.5% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 314,849 shares of the insurance provider’s stock after buying an additional 10,566 shares during the period. Citigroup Inc.’s holdings in The Hartford Financial Services Group were worth $37,029,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Pacer Advisors Inc. boosted its position in shares of The Hartford Financial Services Group by 29.9% during the 3rd quarter. Pacer Advisors Inc. now owns 58,293 shares of the insurance provider’s stock valued at $6,856,000 after acquiring an additional 13,423 shares during the last quarter. Trustmark National Bank Trust Department grew its stake in shares of The Hartford Financial Services Group by 4.7% in the 3rd quarter. Trustmark National Bank Trust Department now owns 42,118 shares of the insurance provider’s stock valued at $4,953,000 after buying an additional 1,893 shares during the period. Intech Investment Management LLC increased its holdings in shares of The Hartford Financial Services Group by 5.0% during the 3rd quarter. Intech Investment Management LLC now owns 110,270 shares of the insurance provider’s stock worth $12,969,000 after buying an additional 5,254 shares during the last quarter. Moors & Cabot Inc. raised its position in shares of The Hartford Financial Services Group by 3.2% during the 3rd quarter. Moors & Cabot Inc. now owns 9,999 shares of the insurance provider’s stock valued at $1,176,000 after buying an additional 309 shares during the period. Finally, Strategy Asset Managers LLC acquired a new position in The Hartford Financial Services Group in the third quarter valued at approximately $708,000. 93.42% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at The Hartford Financial Services Group

In related news, EVP Adin M. Tooker sold 6,865 shares of the stock in a transaction 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 of the company’s stock, valued at $3,021,972.80. This represents a 21.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders own 1.60% of the company’s stock.

Analyst Ratings Changes

A number of research firms have commented on HIG. Piper Sandler lifted their target price on The Hartford Financial Services Group from $112.00 to $125.00 and gave the company an “overweight” rating in a research report on Monday, July 29th. Barclays started coverage on shares of The Hartford Financial Services Group in a research report on Wednesday, September 4th. They issued an “equal weight” rating and a $130.00 target price on the stock. UBS Group lifted their price target on shares of The Hartford Financial Services Group from $134.00 to $135.00 and gave the company a “buy” rating in a research report on Tuesday, October 15th. StockNews.com upgraded shares of The Hartford Financial Services Group from a “hold” rating to a “buy” rating in a report on Friday, November 15th. Finally, Bank of America lifted their target price on shares of The Hartford Financial Services Group from $121.00 to $124.00 and gave the company a “neutral” rating in a report on Thursday, October 10th. Nine equities 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. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $120.88.

The Hartford Financial Services Group Price Performance

HIG stock opened at $120.72 on Monday. The Hartford Financial Services Group, Inc. has a 1 year low of $76.65 and a 1 year high of $123.23. The firm has a market capitalization of $35.00 billion, a P/E ratio of 12.10, a P/E/G ratio of 0.98 and a beta of 0.94. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.32 and a quick ratio of 0.32. The business’s 50-day moving average is $116.81 and its two-hundred day moving average is $109.46.

The Hartford Financial Services Group Increases Dividend

The company 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 dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 1.72%. The ex-dividend date is Monday, December 2nd. This is a boost from The Hartford Financial Services Group’s previous quarterly dividend of $0.47. The Hartford Financial Services Group’s payout ratio 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.