Freedom Investment Management Inc. Increases Stock Position in The Hartford Financial Services Group, Inc. (NYSE:HIG)

Freedom Investment Management Inc. boosted its position in shares of The Hartford Financial Services Group, Inc. (NYSE:HIG) by 9.8% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,218 shares of the insurance provider’s stock after purchasing an additional 825 shares during the period. Freedom Investment Management Inc.’s holdings in The Hartford Financial Services Group were worth $1,084,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Tidal Investments LLC increased its position in shares of The Hartford Financial Services Group by 108.4% during the first quarter. Tidal Investments LLC now owns 19,098 shares of the insurance provider’s stock worth $1,968,000 after acquiring an additional 9,932 shares during the last quarter. New Covenant Trust Company N.A. acquired a new stake in shares of The Hartford Financial Services Group in the 1st quarter valued at about $26,000. Citizens Financial Group Inc. RI lifted its holdings in 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 last quarter. Swedbank AB acquired a new position in The Hartford Financial Services Group in the first quarter worth $53,980,000. Finally, Atria Investments Inc acquired a new position in shares of The Hartford Financial Services Group in the 1st quarter valued at about $1,328,000. Institutional investors and hedge funds own 93.42% of the company’s stock.

The Hartford Financial Services Group Trading Up 0.9 %

Shares of HIG stock opened at $123.74 on Thursday. 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 stock has a 50-day simple moving average of $117.16 and a 200 day simple moving average of $109.84. The Hartford Financial Services Group, Inc. has a fifty-two week low of $76.65 and a fifty-two week high of $124.90. The stock has a market capitalization of $35.87 billion, a P/E ratio of 12.40, a P/E/G ratio of 1.00 and a beta of 0.94.

The Hartford Financial Services Group Increases Dividend

The firm also recently disclosed 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 is Monday, December 2nd. This represents a $2.08 annualized dividend and a dividend yield of 1.68%. This is a boost from The Hartford Financial Services Group’s previous quarterly dividend of $0.47. The Hartford Financial Services Group’s payout ratio is currently 18.84%.

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 value of $803,479.60. Following the transaction, the executive vice president now directly owns 25,820 shares in the company, valued at $3,021,972.80. The trade was a 21.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 1.60% of the company’s stock.

Analyst Upgrades and Downgrades

HIG has been the subject of a number of analyst reports. Keefe, Bruyette & Woods boosted their price objective on The Hartford Financial Services Group from $133.00 to $135.00 and gave the company an “outperform” rating in a research report on Tuesday, October 29th. Wells Fargo & Company boosted their price target on shares of 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. Barclays started coverage on shares of The Hartford Financial Services Group in a report on Wednesday, September 4th. They issued an “equal weight” rating and a $130.00 price objective on the stock. BMO Capital Markets boosted their target price on shares of The Hartford Financial Services Group from $100.00 to $141.00 and gave the company a “market perform” rating in a research note on Wednesday. Finally, Bank of America upped their target price 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. Ten equities 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 company. According to MarketBeat.com, The Hartford Financial Services Group has a consensus rating of “Moderate Buy” and a consensus target price of $122.00.

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.