Martingale Asset Management L P Has $20.49 Million Holdings in The Hartford Financial Services Group, Inc. (NYSE:HIG)

Martingale Asset Management L P cut its stake in The Hartford Financial Services Group, Inc. (NYSE:HIG) by 13.9% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 174,224 shares of the insurance provider’s stock after selling 28,036 shares during the period. Martingale Asset Management L P’s holdings in The Hartford Financial Services Group were worth $20,490,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. DT Investment Partners LLC acquired a new stake in shares of The Hartford Financial Services Group in the 3rd quarter valued at $26,000. Clean Yield Group acquired a new stake in shares of The Hartford Financial Services Group in the 3rd quarter valued at $33,000. Quest Partners LLC boosted its stake 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 purchasing an additional 275 shares in the last quarter. Bank & Trust Co acquired a new stake in shares of The Hartford Financial Services Group in the 2nd quarter valued at $30,000. Finally, BNP Paribas acquired a new stake in shares of The Hartford Financial Services Group in the 3rd quarter valued at $35,000. 93.42% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on HIG. Barclays began 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 target price on the stock. StockNews.com upgraded shares of The Hartford Financial Services Group from a “hold” rating to a “buy” rating in a research report on Friday, November 15th. BMO Capital Markets upped their price target on shares of 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. Jefferies Financial Group upped their price target on shares of The Hartford Financial Services Group from $113.00 to $127.00 and gave the stock a “hold” rating in a research report on Wednesday, October 9th. Finally, Keefe, Bruyette & Woods upped their target price on shares of The Hartford Financial Services Group from $133.00 to $135.00 and gave the company an “outperform” rating in a research report on Tuesday, October 29th. Ten research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $122.00.

The Hartford Financial Services Group Stock Performance

Shares of HIG stock opened at $123.74 on Friday. 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 stock has a market cap of $35.87 billion, a PE ratio of 12.40, a price-to-earnings-growth ratio of 1.02 and a beta of 0.94. The stock has a 50-day moving average of $117.32 and a 200-day moving average of $109.94. The Hartford Financial Services Group, Inc. has a one year low of $76.65 and a one year high of $124.90.

The Hartford Financial Services Group Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 3rd. Investors of record on Monday, December 2nd will be paid a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 1.68%. This is a boost from The Hartford Financial Services Group’s previous quarterly dividend of $0.47. The ex-dividend date of this dividend is Monday, December 2nd. The Hartford Financial Services Group’s dividend payout ratio is presently 18.84%.

Insider Buying and Selling

In related news, EVP Adin M. Tooker sold 6,865 shares of the stock in a transaction that occurred on Friday, November 15th. The stock was 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 of the company’s stock, valued at approximately $3,021,972.80. This represents a 21.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.60% of the stock is owned by company insiders.

About The Hartford Financial Services Group

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.