Cohen Klingenstein LLC Lowers Stock Holdings in The Hartford Financial Services Group, Inc. (NYSE:HIG)

Cohen Klingenstein LLC lessened its stake in shares of The Hartford Financial Services Group, Inc. (NYSE:HIG) by 32.5% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 108,783 shares of the insurance provider’s stock after selling 52,400 shares during the period. Cohen Klingenstein LLC’s holdings in The Hartford Financial Services Group were worth $11,901,000 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 bought a new position in shares of The Hartford Financial Services Group during the 3rd quarter worth $26,000. Thurston Springer Miller Herd & Titak Inc. boosted its stake in The Hartford Financial Services Group by 3,342.9% in the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 241 shares of the insurance provider’s stock worth $26,000 after purchasing an additional 234 shares in the last quarter. Clean Yield Group purchased a new position in shares of The Hartford Financial Services Group in the third quarter worth $33,000. Quest Partners LLC increased its position in shares of The Hartford Financial Services Group by 2,750.0% in the 2nd quarter. Quest Partners LLC now owns 285 shares of the insurance provider’s stock valued at $29,000 after acquiring an additional 275 shares during the period. Finally, BNP Paribas purchased a new position in The Hartford Financial Services Group in the 3rd quarter worth $35,000. Hedge funds and other institutional investors own 93.42% of the company’s stock.

Insider Activity

In other The Hartford Financial Services Group 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 completion of the sale, the executive vice president now directly owns 25,820 shares in the company, valued at $3,021,972.80. This trade represents a 21.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 1.60% of the company’s stock.

The Hartford Financial Services Group Stock Down 0.5 %

Shares of HIG opened at $111.96 on Friday. The stock has a 50 day moving average price of $114.14 and a 200 day moving average price of $112.48. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.32 and a current ratio of 0.32. The stock has a market capitalization of $32.45 billion, a price-to-earnings ratio of 11.22, a PEG ratio of 0.76 and a beta of 0.98. The Hartford Financial Services Group, Inc. has a one year low of $81.87 and a one year high of $124.90.

The Hartford Financial Services Group Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, January 3rd. Stockholders of record on Monday, December 2nd were issued a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 1.86%. The ex-dividend date was 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 currently 20.84%.

Analyst Upgrades and Downgrades

HIG has been the topic of several research analyst reports. Barclays upgraded The Hartford Financial Services Group from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $130.00 to $135.00 in a research note on Monday, January 6th. Bank of America increased their price target on shares of The Hartford Financial Services Group from $121.00 to $124.00 and gave the stock a “neutral” rating in a report on Thursday, October 10th. 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. Keefe, Bruyette & Woods lifted their price objective on The Hartford Financial Services Group from $135.00 to $139.00 and gave the company an “outperform” rating in a research note on Friday, January 10th. Finally, UBS Group boosted their target price on shares of The Hartford Financial Services Group from $134.00 to $135.00 and gave the company a “buy” rating in a research note on Tuesday, October 15th. Nine investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $122.28.

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.