Hotchkis & Wiley Capital Management LLC Trims Stake in The Hartford Financial Services Group, Inc. (NYSE:HIG)

Hotchkis & Wiley Capital Management LLC decreased its position in The Hartford Financial Services Group, Inc. (NYSE:HIG) by 30.5% in the 3rd quarter, Holdings Channel reports. The fund owned 3,462,507 shares of the insurance provider’s stock after selling 1,522,615 shares during the period. The Hartford Financial Services Group accounts for 1.4% of Hotchkis & Wiley Capital Management LLC’s holdings, making the stock its 27th biggest holding. Hotchkis & Wiley Capital Management LLC’s holdings in The Hartford Financial Services Group were worth $407,225,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. DT Investment Partners LLC acquired a new position in shares of The Hartford Financial Services Group in the 3rd quarter valued at about $26,000. Quest Partners LLC boosted its stake in The Hartford Financial Services Group by 2,750.0% in the second 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 last quarter. Family Firm Inc. acquired a new stake in shares of The Hartford Financial Services Group during the second quarter worth about $31,000. Clean Yield Group acquired a new position in The Hartford Financial Services Group during the third quarter worth $33,000. Finally, BNP Paribas bought a new position in shares of The Hartford Financial Services Group during the 3rd quarter worth approximately $35,000. 93.42% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

HIG has been the subject of a number of recent analyst reports. BMO Capital Markets increased their target price 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. Keefe, Bruyette & Woods lifted their price objective on The Hartford Financial Services Group from $133.00 to $135.00 and gave the stock an “outperform” rating in a report on Tuesday, October 29th. Barclays assumed coverage on shares of The Hartford Financial Services Group in a report on Wednesday, September 4th. They set an “equal weight” rating and a $130.00 target price for the company. Wells Fargo & Company lifted their price target on shares of The Hartford Financial Services Group from $122.00 to $134.00 and gave the stock an “overweight” rating in a research note on Tuesday, September 17th. Finally, UBS Group increased their price objective 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. Ten research 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’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $122.00.

Insider Buying and Selling

In other The Hartford Financial Services Group news, EVP Adin M. Tooker sold 6,865 shares of the firm’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 transaction of $803,479.60. Following the completion of the sale, the executive vice president now owns 25,820 shares in the company, valued at $3,021,972.80. This trade represents a 21.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 1.60% of the stock is currently owned by insiders.

The Hartford Financial Services Group Price Performance

Shares of HIG opened at $121.28 on Tuesday. The company has a market capitalization of $35.16 billion, a P/E ratio of 12.15, a P/E/G ratio of 1.01 and a beta of 0.95. The business’s 50-day moving average is $117.55 and its two-hundred day moving average is $110.36. The Hartford Financial Services Group, Inc. has a fifty-two week low of $77.59 and a fifty-two week high of $124.90. 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 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 given a dividend of $0.52 per share. This is a positive change from The Hartford Financial Services Group’s previous quarterly dividend of $0.47. The ex-dividend date is Monday, December 2nd. This represents a $2.08 annualized dividend and a yield of 1.72%. The Hartford Financial Services Group’s payout ratio is 18.84%.

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.