Franklin Resources Inc. Sells 13,914 Shares of The Hartford Financial Services Group, Inc. (NYSE:HIG)

Franklin Resources Inc. trimmed its position in The Hartford Financial Services Group, Inc. (NYSE:HIG - Free Report) by 0.6% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,184,647 shares of the insurance provider's stock after selling 13,914 shares during the period. Franklin Resources Inc. owned about 0.75% of The Hartford Financial Services Group worth $258,853,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in HIG. DT Investment Partners LLC acquired a new position in The Hartford Financial Services Group during the 3rd quarter worth $26,000. Quest Partners LLC grew its holdings in The Hartford Financial Services Group by 2,750.0% during the 2nd quarter. Quest Partners LLC now owns 285 shares of the insurance provider's stock worth $29,000 after acquiring an additional 275 shares in the last quarter. Family Firm Inc. acquired a new position in The Hartford Financial Services Group during the 2nd quarter worth $31,000. Clean Yield Group acquired a new position in The Hartford Financial Services Group during the 3rd quarter worth $33,000. Finally, BNP Paribas acquired a new position in The Hartford Financial Services Group during the 3rd quarter worth $35,000. 93.42% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other The Hartford Financial Services Group 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 directly owns 25,820 shares of the company's stock, valued at approximately $3,021,972.80. The trade was a 21.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 1.60% of the company's stock.

The Hartford Financial Services Group Trading Up 1.0 %

Shares of HIG stock traded up $1.16 during trading hours on Friday, reaching $112.08. The company's stock had a trading volume of 1,615,671 shares, compared to its average volume of 1,598,587. 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 stock has a market capitalization of $32.49 billion, a P/E ratio of 11.23, a P/E/G ratio of 0.93 and a beta of 0.95. The firm's fifty day simple moving average is $117.41 and its 200 day simple moving average is $111.23. The Hartford Financial Services Group, Inc. has a one year low of $78.33 and a one year high of $124.90.

The Hartford Financial Services Group Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, January 3rd. Stockholders of record on Monday, December 2nd will be given a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 1.86%. This is a boost 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 (DPR) is currently 20.84%.

Analyst Ratings Changes

Several research analysts have weighed in on the stock. Keefe, Bruyette & Woods raised their price objective on shares of The Hartford Financial Services Group from $133.00 to $135.00 and gave the stock an "outperform" rating in a report on Tuesday, October 29th. Jefferies Financial Group lifted their price target on shares of The Hartford Financial Services Group from $113.00 to $127.00 and gave the company a "hold" rating in a report on Wednesday, October 9th. Barclays began 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 target for the company. BMO Capital Markets lifted their price target on shares of The Hartford Financial Services Group from $100.00 to $141.00 and gave the company a "market perform" rating in a report on Wednesday, November 27th. Finally, JPMorgan Chase & Co. boosted their target price 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 equities research 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. According to MarketBeat.com, The Hartford Financial Services Group has a consensus rating of "Moderate Buy" and an average target price of $122.00.

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.