The Manufacturers Life Insurance Company Sells 13,350 Shares of The Hartford Financial Services Group, Inc. (NYSE:HIG)

The Manufacturers Life Insurance Company lowered its position in The Hartford Financial Services Group, Inc. (NYSE:HIG) by 3.7% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 343,909 shares of the insurance provider’s stock after selling 13,350 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in The Hartford Financial Services Group were worth $40,447,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of HIG. Tidal Investments LLC lifted 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 worth $1,968,000 after buying an additional 9,932 shares during the period. Citizens Financial Group Inc. RI lifted its position in shares of The Hartford Financial Services Group by 7.2% during the 1st quarter. Citizens Financial Group Inc. RI now owns 5,220 shares of the insurance provider’s stock worth $538,000 after buying an additional 352 shares during the period. Atria Investments Inc bought a new position in shares of The Hartford Financial Services Group during the 1st quarter worth approximately $1,328,000. Cetera Investment Advisers lifted its position in shares of The Hartford Financial Services Group by 104.8% during the 1st quarter. Cetera Investment Advisers now owns 55,465 shares of the insurance provider’s stock worth $5,716,000 after buying an additional 28,383 shares during the period. Finally, Cetera Advisors LLC lifted its position in shares of The Hartford Financial Services Group by 64.8% during the 1st quarter. Cetera Advisors LLC now owns 17,472 shares of the insurance provider’s stock worth $1,800,000 after buying an additional 6,872 shares during the period. Institutional investors own 93.42% of the company’s stock.

The Hartford Financial Services Group Stock Up 0.9 %

Shares of The Hartford Financial Services Group stock opened at $123.74 on Friday. 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, Inc. has a 12 month low of $76.65 and a 12 month high of $124.90. The business has a fifty day simple moving average of $117.32 and a 200 day simple moving average of $109.94. The stock has a market cap of $35.87 billion, a PE ratio of 12.40, a price-to-earnings-growth ratio of 1.00 and a beta of 0.94.

The Hartford Financial Services Group Increases Dividend

The business also recently disclosed 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. The ex-dividend date 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 dividend on an annualized basis and a dividend yield of 1.68%. The Hartford Financial Services Group’s payout ratio is 20.84%.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on HIG shares. Keefe, Bruyette & Woods raised their target price on The Hartford Financial Services Group from $133.00 to $135.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 29th. Wells Fargo & Company raised their price target on The Hartford Financial Services Group from $122.00 to $134.00 and gave the company an “overweight” rating in a report on Tuesday, September 17th. JPMorgan Chase & Co. raised their price target on The Hartford Financial Services Group from $122.00 to $125.00 and gave the company a “neutral” rating in a report on Friday, October 25th. Bank of America raised their price target on The Hartford Financial Services Group from $121.00 to $124.00 and gave the company a “neutral” rating in a report on Thursday, October 10th. Finally, Jefferies Financial Group raised their price target on The Hartford Financial Services Group from $113.00 to $127.00 and gave the company a “hold” rating in a report on Wednesday, October 9th. Ten analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $122.00.

Insider Buying and Selling

In related news, EVP Adin M. Tooker sold 6,865 shares of The Hartford Financial Services Group stock in a transaction 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 $3,021,972.80. The trade was a 21.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.60% of the stock is owned by 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.