Erste Asset Management GmbH Makes New Investment in The Hartford Financial Services Group, Inc. (NYSE:HIG)

Erste Asset Management GmbH bought a new stake in The Hartford Financial Services Group, Inc. (NYSE:HIG - Free Report) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 9,700 shares of the insurance provider's stock, valued at approximately $1,133,000.

Several other hedge funds and other institutional investors also recently modified their holdings of HIG. DT Investment Partners LLC purchased a new position in shares of The Hartford Financial Services Group in the 3rd quarter valued at approximately $26,000. Quest Partners LLC grew its stake in shares of The Hartford Financial Services Group by 2,750.0% in the 2nd quarter. Quest Partners LLC now owns 285 shares of the insurance provider's stock valued at $29,000 after purchasing an additional 275 shares during the last quarter. Family Firm Inc. purchased a new stake in shares of The Hartford Financial Services Group in the second quarter valued at approximately $31,000. Clean Yield Group purchased a new stake in shares of The Hartford Financial Services Group in the third quarter valued at approximately $33,000. Finally, BNP Paribas purchased a new stake in shares of The Hartford Financial Services Group in the third quarter valued at approximately $35,000. 93.42% of the stock is currently owned by hedge funds and other institutional investors.

The Hartford Financial Services Group Stock Down 0.2 %

Shares of HIG stock traded down $0.29 on Wednesday, reaching $120.55. 1,498,553 shares of the company's stock traded hands, compared to its average volume of 1,588,854. The company has a market capitalization of $34.95 billion, a P/E ratio of 12.08, a price-to-earnings-growth ratio of 1.00 and a beta of 0.95. The Hartford Financial Services Group, Inc. has a 12-month low of $77.82 and a 12-month high of $124.90. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.32 and a current ratio of 0.32. The business's 50 day moving average price is $117.71 and its two-hundred day moving average price is $110.56.

The Hartford Financial Services Group Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 3rd. Stockholders of record on Monday, December 2nd will be given a dividend of $0.52 per share. 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 1.73%. The Hartford Financial Services Group's payout ratio is currently 20.84%.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on HIG. Barclays began coverage on The Hartford Financial Services Group in a research note on Wednesday, September 4th. They issued an "equal weight" rating and a $130.00 price target on the stock. UBS Group boosted their target price on The Hartford Financial Services Group from $134.00 to $135.00 and gave the stock a "buy" rating in a research report on Tuesday, October 15th. Keefe, Bruyette & Woods boosted their target price on The Hartford Financial Services Group from $133.00 to $135.00 and gave the stock an "outperform" rating in a research report on Tuesday, October 29th. JPMorgan Chase & Co. boosted their target price on The Hartford Financial Services Group from $122.00 to $125.00 and gave the stock a "neutral" rating in a research report on Friday, October 25th. Finally, BMO Capital Markets boosted 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 report on Wednesday, November 27th. Ten research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $122.00.

Insider Activity

In related news, EVP Adin M. Tooker sold 6,865 shares of the business's 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 sale, the executive vice president now owns 25,820 shares of the company's stock, valued at $3,021,972.80. The trade was a 21.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.60% of the stock is currently owned by company insiders.

The Hartford Financial Services Group 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.