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

Citigroup Inc. increased its position in shares of The Hartford Financial Services Group, Inc. (NYSE:HIG) by 3.5% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 314,849 shares of the insurance provider’s stock after buying an additional 10,566 shares during the period. Citigroup Inc. owned about 0.11% of The Hartford Financial Services Group worth $37,029,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. New Covenant Trust Company N.A. bought a new stake in shares of The Hartford Financial Services Group in the 1st quarter valued at about $26,000. DT Investment Partners LLC purchased a new position in The Hartford Financial Services Group during the third quarter valued at approximately $26,000. Quest Partners LLC raised its stake in The Hartford Financial Services Group by 2,750.0% in the second quarter. Quest Partners LLC now owns 285 shares of the insurance provider’s stock worth $29,000 after buying an additional 275 shares in the last quarter. Bank & Trust Co purchased a new stake in The Hartford Financial Services Group during the second quarter worth $30,000. Finally, Family Firm Inc. bought a new stake in The Hartford Financial Services Group during the 2nd quarter valued at $31,000. 93.42% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other The Hartford Financial Services Group news, EVP Adin M. Tooker sold 6,865 shares of the company’s stock in a transaction that occurred on 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 in the company, valued at approximately $3,021,972.80. This represents a 21.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 1.60% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

HIG has been the subject of a number of analyst reports. Argus upgraded The Hartford Financial Services Group to a “strong-buy” rating in a research note on Friday, August 2nd. Barclays initiated coverage on shares of The Hartford Financial Services Group in a research report on Wednesday, September 4th. They set an “equal weight” rating and a $130.00 price target for the company. Bank of America lifted their price objective on shares of The Hartford Financial Services Group from $121.00 to $124.00 and gave the stock a “neutral” rating in a research report on Thursday, October 10th. StockNews.com raised shares of The Hartford Financial Services Group from a “hold” rating to a “buy” rating in a research report on Friday, November 15th. Finally, UBS Group lifted their price target on shares of 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. Nine 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, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $120.88.

The Hartford Financial Services Group Stock Performance

Shares of NYSE HIG opened at $120.72 on Monday. The stock has a market cap of $35.00 billion, a price-to-earnings ratio of 12.10, a PEG ratio of 0.98 and a beta of 0.94. The Hartford Financial Services Group, Inc. has a 12 month low of $76.65 and a 12 month high of $123.23. The company has a 50 day simple moving average of $116.81 and a two-hundred day simple moving average of $109.46. 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 Hartford Financial Services Group Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 3rd. Shareholders of record on Monday, December 2nd will be issued a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 1.72%. This is a positive change from The Hartford Financial Services Group’s previous quarterly dividend of $0.47. The ex-dividend date is Monday, December 2nd. The Hartford Financial Services Group’s dividend payout ratio is presently 20.84%.

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.