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

Dai ichi Life Insurance Company Ltd boosted its position in shares of The Hartford Financial Services Group, Inc. (NYSE:HIG) by 3.3% in the third quarter, HoldingsChannel.com reports. The fund owned 137,506 shares of the insurance provider’s stock after purchasing an additional 4,449 shares during the period. Dai ichi Life Insurance Company Ltd’s holdings in The Hartford Financial Services Group were worth $16,172,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of HIG. Concurrent Investment Advisors LLC purchased a new stake in shares of The Hartford Financial Services Group during the second quarter worth $213,000. Skandinaviska Enskilda Banken AB publ grew its position in shares of The Hartford Financial Services Group by 27.6% during the second quarter. Skandinaviska Enskilda Banken AB publ now owns 221,896 shares of the insurance provider’s stock worth $22,309,000 after buying an additional 48,004 shares in the last quarter. Atria Investments Inc acquired a new stake in The Hartford Financial Services Group in the first quarter valued at approximately $1,328,000. Lecap Asset Management Ltd. purchased a new position in The Hartford Financial Services Group in the third quarter worth approximately $633,000. Finally, Manning & Napier Advisors LLC purchased a new position in The Hartford Financial Services Group in the second quarter worth approximately $11,060,000. 93.42% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on HIG. Argus upgraded The Hartford Financial Services Group to a “strong-buy” rating in a research note on Friday, August 2nd. StockNews.com upgraded shares of The Hartford Financial Services Group from a “hold” rating to a “buy” rating in a research report on Friday, November 15th. 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. Bank of America increased their price target on shares of 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, Royal Bank of Canada boosted their price objective on shares of The Hartford Financial Services Group from $105.00 to $115.00 and gave the stock a “sector perform” rating in a report on Monday, July 29th. Nine investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $120.88.

Insider Activity at The Hartford Financial Services Group

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 dated Friday, November 15th. The stock was sold at an average price of $117.04, for a total value 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 position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 1.60% of the stock is owned by corporate insiders.

The Hartford Financial Services Group Stock Performance

Shares of NYSE:HIG opened at $121.53 on Tuesday. The Hartford Financial Services Group, Inc. has a 1-year low of $76.65 and a 1-year high of $123.23. The stock has a market capitalization of $35.23 billion, a P/E ratio of 12.18, a P/E/G ratio of 0.99 and a beta of 0.94. The company has a current ratio of 0.32, a quick ratio of 0.32 and a debt-to-equity ratio of 0.26. The business has a 50-day moving average price of $116.91 and a two-hundred day moving average price of $109.60.

The Hartford Financial Services Group Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 3rd. Stockholders of record on Monday, December 2nd will be paid a $0.52 dividend. 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. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.71%. The Hartford Financial Services Group’s dividend payout ratio is 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.