HighTower Advisors LLC Has $13.06 Million Stake in The Hartford Financial Services Group, Inc. (NYSE:HIG)

HighTower Advisors LLC boosted its stake in shares of The Hartford Financial Services Group, Inc. (NYSE:HIG) by 7.1% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 111,134 shares of the insurance provider’s stock after acquiring an additional 7,350 shares during the period. HighTower Advisors LLC’s holdings in The Hartford Financial Services Group were worth $13,063,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Concurrent Investment Advisors LLC bought a new position in shares of The Hartford Financial Services Group in the second quarter worth $213,000. Skandinaviska Enskilda Banken AB publ increased its holdings in The Hartford Financial Services Group by 27.6% in the 2nd quarter. Skandinaviska Enskilda Banken AB publ now owns 221,896 shares of the insurance provider’s stock valued at $22,309,000 after buying an additional 48,004 shares during the period. Dai ichi Life Insurance Company Ltd raised its position in shares of The Hartford Financial Services Group by 3.3% in the 3rd quarter. Dai ichi Life Insurance Company Ltd now owns 137,506 shares of the insurance provider’s stock valued at $16,172,000 after buying an additional 4,449 shares in the last quarter. Lecap Asset Management Ltd. bought a new stake in shares of The Hartford Financial Services Group during the 3rd quarter worth approximately $633,000. Finally, Wealth Enhancement Advisory Services LLC lifted its holdings in shares of The Hartford Financial Services Group by 19.5% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 72,992 shares of the insurance provider’s stock worth $7,339,000 after acquiring an additional 11,934 shares during the period. 93.42% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, EVP Adin M. Tooker sold 6,865 shares of The Hartford Financial Services Group stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $117.04, for a total value of $803,479.60. Following the completion of the transaction, the executive vice president now directly owns 25,820 shares of the company’s stock, valued at approximately $3,021,972.80. This trade represents a 21.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 1.60% of the stock is owned by insiders.

The Hartford Financial Services Group Stock Performance

Shares of HIG stock opened at $119.54 on Friday. The stock has a market capitalization of $34.65 billion, a PE ratio of 11.98, a PEG ratio of 0.99 and a beta of 0.95. The business’s 50 day simple moving average is $117.86 and its 200 day simple moving average is $110.81. 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 Hartford Financial Services Group, Inc. has a one year low of $77.82 and a one year high of $124.90.

The Hartford Financial Services Group Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 3rd. Stockholders of record on Monday, December 2nd will be given a dividend of $0.52 per share. The ex-dividend date of this dividend is Monday, December 2nd. This is a boost from The Hartford Financial Services Group’s previous quarterly dividend of $0.47. This represents a $2.08 annualized dividend and a dividend yield of 1.74%. The Hartford Financial Services Group’s dividend payout ratio is 20.84%.

Wall Street Analyst Weigh In

Several research analysts have commented on HIG shares. Wells Fargo & Company boosted their price objective on shares of The Hartford Financial Services Group from $122.00 to $134.00 and gave the company an “overweight” rating in a research report on Tuesday, September 17th. JPMorgan Chase & Co. upped their price objective on The Hartford Financial Services Group from $122.00 to $125.00 and gave the stock a “neutral” rating in a research report on Friday, October 25th. BMO Capital Markets raised their price objective on The Hartford Financial Services Group from $100.00 to $141.00 and gave the company a “market perform” rating in a research note on Wednesday, November 27th. Jefferies Financial Group boosted their target price on 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. Finally, Keefe, Bruyette & Woods raised their price target on shares of The Hartford Financial Services Group from $133.00 to $135.00 and gave the company an “outperform” rating in a research note on Tuesday, October 29th. Ten 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 stock. According to data from MarketBeat.com, The Hartford Financial Services Group has a consensus rating of “Moderate Buy” and a consensus price target 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.