Miracle Mile Advisors LLC Buys New Position in The Hartford Financial Services Group, Inc. (NYSE:HIG)

Miracle Mile Advisors LLC purchased a new position in shares of The Hartford Financial Services Group, Inc. (NYSE:HIG) in the fourth quarter, HoldingsChannel.com reports. The firm purchased 4,759 shares of the insurance provider’s stock, valued at approximately $521,000.

A number of other hedge funds have also added to or reduced their stakes in HIG. DT Investment Partners LLC acquired a new stake in shares of The Hartford Financial Services Group in the 3rd quarter valued at about $26,000. Quest Partners LLC increased its holdings in shares of The Hartford Financial Services Group by 2,750.0% during 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 in the last quarter. Clean Yield Group acquired a new position in shares of The Hartford Financial Services Group during the third quarter worth approximately $33,000. BNP Paribas acquired a new position in shares of The Hartford Financial Services Group during the third quarter worth approximately $35,000. Finally, Ashton Thomas Securities LLC bought a new position in shares of The Hartford Financial Services Group in the 3rd quarter worth $40,000. 93.42% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have weighed in on HIG. BMO Capital Markets upped their price objective on shares of The Hartford Financial Services Group from $100.00 to $141.00 and gave the stock a “market perform” rating in a report on Wednesday, November 27th. Barclays raised The Hartford Financial Services Group from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $130.00 to $135.00 in a report on Monday, January 6th. Bank of America lifted their target price on The Hartford Financial Services Group from $121.00 to $124.00 and gave the company a “neutral” rating in a research report on Thursday, October 10th. StockNews.com raised The Hartford Financial Services Group from a “hold” rating to a “buy” rating in a research report on Friday, November 15th. Finally, Wells Fargo & Company cut their price objective on shares of The Hartford Financial Services Group from $134.00 to $130.00 and set an “overweight” rating on the stock in a report on Tuesday. Nine investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, The Hartford Financial Services Group presently has a consensus rating of “Moderate Buy” and a consensus price target of $122.28.

Insider Buying and Selling at The Hartford Financial Services Group

In other news, EVP Adin M. Tooker sold 6,865 shares of the company’s 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 transaction, the executive vice president now owns 25,820 shares of the company’s stock, valued at $3,021,972.80. This represents a 21.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 1.60% of the stock is owned by corporate insiders.

The Hartford Financial Services Group Stock Up 1.7 %

HIG opened at $111.27 on Thursday. The Hartford Financial Services Group, Inc. has a twelve month low of $81.87 and a twelve month high of $124.90. The company’s 50-day moving average price is $114.31 and its two-hundred day moving average price is $112.49. The stock has a market cap of $32.26 billion, a price-to-earnings ratio of 11.15, a PEG ratio of 0.92 and a beta of 0.98. 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 company also recently disclosed a quarterly dividend, which was paid on Friday, January 3rd. Investors of record on Monday, December 2nd were paid a $0.52 dividend. This is an increase from The Hartford Financial Services Group’s previous quarterly dividend of $0.47. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $2.08 annualized dividend and a yield of 1.87%. The Hartford Financial Services Group’s dividend payout ratio is presently 20.84%.

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.