Pensionfund Sabic Raises Stock Holdings in The Hartford Financial Services Group, Inc. (NYSE:HIG)

Pensionfund Sabic lifted its holdings in shares of The Hartford Financial Services Group, Inc. (NYSE:HIG) by 26.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 14,500 shares of the insurance provider’s stock after acquiring an additional 3,000 shares during the period. Pensionfund Sabic’s holdings in The Hartford Financial Services Group were worth $1,586,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of HIG. Trust Co. of Vermont increased its stake in The Hartford Financial Services Group by 27.9% in the third quarter. Trust Co. of Vermont now owns 403 shares of the insurance provider’s stock valued at $47,000 after purchasing an additional 88 shares during the period. Brooklyn Investment Group increased its position in The Hartford Financial Services Group by 4.0% in the 3rd quarter. Brooklyn Investment Group now owns 2,444 shares of the insurance provider’s stock valued at $287,000 after acquiring an additional 94 shares during the period. Catalina Capital Group LLC raised its stake 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 last quarter. Meeder Advisory Services Inc. lifted 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 period. Finally, Tectonic Advisors LLC grew its stake in shares of 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 valued at $537,000 after purchasing an additional 114 shares during the last quarter. 93.42% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the company. 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 report on Tuesday, October 15th. Barclays upgraded shares of The Hartford Financial Services Group from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $130.00 to $135.00 in a research note on Monday. Jefferies Financial Group increased their price target on shares of The Hartford Financial Services Group from $113.00 to $127.00 and gave the stock a “hold” rating in a report on Wednesday, October 9th. Wells Fargo & Company lifted their price objective 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. Finally, BMO Capital Markets increased their target price on The Hartford Financial Services Group from $100.00 to $141.00 and gave the stock a “market perform” rating in a research note on Wednesday, November 27th. Nine equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given 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.

The Hartford Financial Services Group Price Performance

Shares of The Hartford Financial Services Group stock traded up $0.96 on Monday, hitting $110.46. The company’s stock had a trading volume of 150,743 shares, compared to its average volume of 780,985. 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 firm has a fifty day moving average price of $114.75 and a 200-day moving average price of $112.22. The Hartford Financial Services Group, Inc. has a 52-week low of $81.04 and a 52-week high of $124.90. The company has a market capitalization of $32.02 billion, a P/E ratio of 11.07, a price-to-earnings-growth ratio of 0.92 and a beta of 0.95.

The Hartford Financial Services Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 3rd. Stockholders of record on Monday, December 2nd were paid a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.88%. This is a boost from The Hartford Financial Services Group’s previous quarterly dividend of $0.47. The ex-dividend date of this dividend was Monday, December 2nd. The Hartford Financial Services Group’s dividend payout ratio (DPR) is 20.84%.

Insider Transactions at The Hartford Financial Services Group

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

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.