Vinva Investment Management Ltd Increases Holdings in The Hartford Financial Services Group, Inc. (NYSE:HIG)

Vinva Investment Management Ltd raised its stake in The Hartford Financial Services Group, Inc. (NYSE:HIG) by 13.5% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 13,640 shares of the insurance provider’s stock after buying an additional 1,618 shares during the period. Vinva Investment Management Ltd’s holdings in The Hartford Financial Services Group were worth $1,593,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. International Assets Investment Management LLC boosted its position in shares of The Hartford Financial Services Group by 31,680.4% during the 3rd quarter. International Assets Investment Management LLC now owns 694,084 shares of the insurance provider’s stock valued at $816,310,000 after acquiring an additional 691,900 shares during the last quarter. Robeco Institutional Asset Management B.V. boosted its holdings in The Hartford Financial Services Group by 22.7% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 1,199,542 shares of the insurance provider’s stock valued at $141,078,000 after purchasing an additional 221,778 shares during the last quarter. Lighthouse Investment Partners LLC grew its stake in shares of The Hartford Financial Services Group by 237.1% in the 2nd quarter. Lighthouse Investment Partners LLC now owns 299,364 shares of the insurance provider’s stock valued at $30,098,000 after buying an additional 210,546 shares during the period. Achmea Investment Management B.V. increased its holdings in shares of The Hartford Financial Services Group by 168.8% during the 2nd quarter. Achmea Investment Management B.V. now owns 235,392 shares of the insurance provider’s stock worth $23,666,000 after buying an additional 147,823 shares during the last quarter. Finally, RiverFront Investment Group LLC raised its position in shares of The Hartford Financial Services Group by 127.6% during the 2nd quarter. RiverFront Investment Group LLC now owns 215,832 shares of the insurance provider’s stock valued at $21,700,000 after buying an additional 121,019 shares during the period. 93.42% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, EVP Adin M. Tooker sold 6,865 shares of The Hartford Financial Services Group stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $117.04, for a total value of $803,479.60. Following the completion of the transaction, the executive vice president now owns 25,820 shares in the company, valued at $3,021,972.80. The trade was a 21.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 1.60% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the company. Wells Fargo & Company increased their price objective on The Hartford Financial Services Group from $122.00 to $134.00 and gave the stock an “overweight” rating in a research report on Tuesday, September 17th. Barclays initiated coverage on The Hartford Financial Services Group in a report on Wednesday, September 4th. They set an “equal weight” rating and a $130.00 price target for the company. StockNews.com upgraded shares of The Hartford Financial Services Group from a “hold” rating to a “buy” rating in a report on Friday, November 15th. Keefe, Bruyette & Woods increased their target price on shares of The Hartford Financial Services Group from $133.00 to $135.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 29th. Finally, JPMorgan Chase & Co. boosted their price target on shares of The Hartford Financial Services Group from $122.00 to $125.00 and gave the company a “neutral” rating in a research note on Friday, October 25th. Ten analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $122.00.

The Hartford Financial Services Group Stock Down 0.3 %

Shares of NYSE HIG opened at $123.37 on Friday. The stock has a market cap of $35.76 billion, a P/E ratio of 12.36, a PEG ratio of 1.02 and a beta of 0.94. The business’s fifty day simple moving average is $117.46 and its 200-day simple moving average is $110.10. The Hartford Financial Services Group, Inc. has a 12-month low of $76.65 and a 12-month high of $124.90. 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 business also recently declared a quarterly dividend, which will be paid on Friday, January 3rd. Shareholders of record on Monday, December 2nd will be given a $0.52 dividend. The ex-dividend date is Monday, December 2nd. This represents a $2.08 dividend on an annualized basis and a yield of 1.69%. This is a positive change from The Hartford Financial Services Group’s previous quarterly dividend of $0.47. The Hartford Financial Services Group’s dividend payout ratio (DPR) is currently 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.