HighTower Advisors LLC Buys 7,350 Shares of The Hartford Financial Services Group, Inc. (NYSE:HIG)

HighTower Advisors LLC boosted its position in The Hartford Financial Services Group, Inc. (NYSE:HIG - Free Report) by 7.1% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 111,134 shares of the insurance provider's stock after purchasing an additional 7,350 shares during the period. HighTower Advisors LLC's holdings in The Hartford Financial Services Group were worth $13,063,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in HIG. Centiva Capital LP increased its stake in The Hartford Financial Services Group by 4.7% in the 3rd quarter. Centiva Capital LP now owns 8,256 shares of the insurance provider's stock worth $971,000 after purchasing an additional 374 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of The Hartford Financial Services Group during the third quarter valued at approximately $1,840,000. Point72 Hong Kong Ltd acquired a new position in The Hartford Financial Services Group in the 3rd quarter worth approximately $1,336,000. Erste Asset Management GmbH purchased a new position in The Hartford Financial Services Group during the 3rd quarter worth approximately $1,133,000. Finally, Edgestream Partners L.P. raised its stake in The Hartford Financial Services Group by 124.6% during the 3rd quarter. Edgestream Partners L.P. now owns 7,039 shares of the insurance provider's stock valued at $828,000 after purchasing an additional 3,905 shares during the period. 93.42% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

HIG has been the topic of a number of research analyst reports. JPMorgan Chase & Co. lifted their price target on The Hartford Financial Services Group from $122.00 to $125.00 and gave the company a "neutral" rating in a report on Friday, October 25th. StockNews.com upgraded The Hartford Financial Services Group from a "hold" rating to a "buy" rating in a report on Friday, November 15th. BMO Capital Markets raised their price target on shares of The Hartford Financial Services Group from $100.00 to $141.00 and gave the stock a "market perform" rating in a report on Wednesday, November 27th. Bank of America upped their price objective on shares of The Hartford Financial Services Group from $121.00 to $124.00 and gave the company a "neutral" rating in a research note on Thursday, October 10th. Finally, 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. Ten research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, The Hartford Financial Services Group has an average rating of "Moderate Buy" and an average target price of $122.00.

Insider Activity

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

The Hartford Financial Services Group Stock Performance

Shares of HIG traded down $1.68 during mid-day trading on Friday, hitting $119.54. The company's stock had a trading volume of 982,217 shares, compared to its average volume of 1,285,954. The stock's 50-day moving average is $117.86 and its two-hundred day moving average is $110.87. The firm has a market capitalization of $34.65 billion, a PE ratio of 11.98, a price-to-earnings-growth ratio of 0.99 and a beta of 0.95. 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 Hartford Financial Services Group, Inc. has a one year low of $77.82 and a one year high of $124.90.

The Hartford Financial Services Group Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 3rd. Stockholders of record on Monday, December 2nd will be issued a dividend of $0.52 per share. This is an increase from The Hartford Financial Services Group's previous quarterly dividend of $0.47. The ex-dividend date is Monday, December 2nd. This represents a $2.08 annualized dividend and a dividend yield of 1.74%. The Hartford Financial Services Group's 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.