Dai ichi Life Insurance Company Ltd Boosts Stock Holdings in The Hartford Financial Services Group, Inc. (NYSE:HIG)

Dai ichi Life Insurance Company Ltd boosted its stake in The Hartford Financial Services Group, Inc. (NYSE:HIG) by 3.3% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 137,506 shares of the insurance provider’s stock after purchasing an additional 4,449 shares during the quarter. Dai ichi Life Insurance Company Ltd’s holdings in The Hartford Financial Services Group were worth $16,172,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. SVB Wealth LLC increased its stake in The Hartford Financial Services Group by 4.1% in the 1st quarter. SVB Wealth LLC now owns 9,774 shares of the insurance provider’s stock worth $1,007,000 after acquiring an additional 386 shares during the last quarter. Dynasty Wealth Management LLC purchased a new position in shares of The Hartford Financial Services Group in the 1st quarter worth $643,000. Tidal Investments LLC raised its position in shares of The Hartford Financial Services Group by 108.4% during the 1st quarter. Tidal Investments LLC now owns 19,098 shares of the insurance provider’s stock valued at $1,968,000 after buying an additional 9,932 shares in the last quarter. Plato Investment Management Ltd lifted its holdings in shares of The Hartford Financial Services Group by 6,384.1% in the 1st quarter. Plato Investment Management Ltd now owns 17,961 shares of the insurance provider’s stock valued at $1,851,000 after acquiring an additional 17,684 shares during the last quarter. Finally, New Covenant Trust Company N.A. purchased a new position in The Hartford Financial Services Group in the first quarter worth about $26,000. Institutional investors own 93.42% of the company’s stock.

Insider Buying and Selling

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 on Friday, November 15th. The shares were sold at an average price of $117.04, for a total transaction of $803,479.60. Following the sale, the executive vice president now owns 25,820 shares of the company’s stock, valued at $3,021,972.80. The trade was a 21.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 1.60% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on HIG. Argus upgraded The Hartford Financial Services Group to a “strong-buy” rating in a report on Friday, August 2nd. UBS Group increased their price target on The Hartford Financial Services Group from $134.00 to $135.00 and gave the stock a “buy” rating in a research report on Tuesday, October 15th. Bank of America boosted their price objective on shares of The Hartford Financial Services Group from $121.00 to $124.00 and gave the stock a “neutral” rating in a research note on Thursday, October 10th. Wells Fargo & Company raised their price objective on 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. Finally, JPMorgan Chase & Co. boosted their price objective on shares of The Hartford Financial Services Group from $122.00 to $125.00 and gave the stock a “neutral” rating in a research note on Friday, October 25th. Nine 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 MarketBeat, The Hartford Financial Services Group has an average rating of “Moderate Buy” and an average price target of $120.88.

The Hartford Financial Services Group Price Performance

Shares of NYSE HIG opened at $121.53 on Tuesday. 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 firm has a fifty day moving average of $116.91 and a 200 day moving average of $109.60. The firm has a market cap of $35.23 billion, a PE ratio of 12.18, a PEG ratio of 0.99 and a beta of 0.94. The Hartford Financial Services Group, Inc. has a one year low of $76.65 and a one year high of $123.23.

The Hartford Financial Services Group Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, January 3rd. Stockholders of record on Monday, December 2nd will be paid a dividend of $0.52 per share. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.71%. 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 currently 18.84%.

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.