Advisors Asset Management Inc. Sells 5,775 Shares of The Hartford Financial Services Group, Inc. (NYSE:HIG)

Advisors Asset Management Inc. decreased its holdings in The Hartford Financial Services Group, Inc. (NYSE:HIG) by 20.8% in the third quarter, Holdings Channel.com reports. The firm owned 22,043 shares of the insurance provider’s stock after selling 5,775 shares during the period. Advisors Asset Management Inc.’s holdings in The Hartford Financial Services Group were worth $2,592,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in HIG. Trust Co. of Vermont boosted its position in The Hartford Financial Services Group by 27.9% during the third quarter. Trust Co. of Vermont now owns 403 shares of the insurance provider’s stock valued at $47,000 after buying an additional 88 shares during the period. Bailard Inc. boosted its holdings in The Hartford Financial Services Group by 0.5% during the 2nd quarter. Bailard Inc. now owns 19,378 shares of the insurance provider’s stock valued at $1,948,000 after acquiring an additional 101 shares during the period. Catalina Capital Group LLC boosted its holdings in The Hartford Financial Services Group by 4.3% during the 3rd quarter. Catalina Capital Group LLC now owns 2,488 shares of the insurance provider’s stock valued at $293,000 after acquiring an additional 102 shares during the period. Meeder Advisory Services Inc. grew its position in The Hartford Financial Services Group by 1.9% during the 3rd quarter. Meeder Advisory Services Inc. now owns 5,621 shares of the insurance provider’s stock worth $661,000 after acquiring an additional 104 shares during the last quarter. Finally, Tectonic Advisors LLC increased its stake in The Hartford Financial Services Group by 2.6% in the 3rd quarter. Tectonic Advisors LLC now owns 4,566 shares of the insurance provider’s stock worth $537,000 after purchasing an additional 114 shares during the period. Institutional investors own 93.42% of the company’s stock.

Insider Transactions at The Hartford Financial Services Group

In other news, EVP Adin M. Tooker sold 6,865 shares of The Hartford Financial Services Group stock in a transaction that occurred 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 completion of the transaction, the executive vice president now directly owns 25,820 shares in the company, valued at approximately $3,021,972.80. This trade represents a 21.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.60% of the company’s stock.

The Hartford Financial Services Group Trading Up 0.9 %

NYSE HIG opened at $120.72 on Friday. The firm has a market capitalization of $35.00 billion, a PE ratio of 12.10, a P/E/G ratio of 0.98 and a beta of 0.94. The stock’s 50 day moving average is $116.81 and its 200 day moving average is $109.39. The Hartford Financial Services Group, Inc. has a twelve month low of $76.65 and a twelve month high of $123.23. The company has a quick ratio of 0.32, a current ratio of 0.32 and a debt-to-equity ratio of 0.26.

The Hartford Financial Services Group Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 3rd. Stockholders of record on Monday, December 2nd will be issued a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.72%. 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. The Hartford Financial Services Group’s payout ratio is 18.84%.

Analysts Set New Price Targets

A number of research firms have recently weighed in on HIG. StockNews.com raised The Hartford Financial Services Group from a “hold” rating to a “buy” rating in a research note on Friday, November 15th. Royal Bank of Canada increased their price target on shares of The Hartford Financial Services Group from $105.00 to $115.00 and gave the company a “sector perform” rating in a research report on Monday, July 29th. Argus upgraded shares of The Hartford Financial Services Group to a “strong-buy” rating in a research report on Friday, August 2nd. Keefe, Bruyette & Woods upped their price objective 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. Finally, Wells Fargo & Company raised their target price on 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. Nine equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $120.88.

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.