Jacobs Levy Equity Management Inc. Sells 101,377 Shares of The Hartford Financial Services Group, Inc. (NYSE:HIG)

Jacobs Levy Equity Management Inc. reduced its stake in The Hartford Financial Services Group, Inc. (NYSE:HIG - Free Report) by 29.6% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 241,189 shares of the insurance provider's stock after selling 101,377 shares during the period. Jacobs Levy Equity Management Inc. owned approximately 0.08% of The Hartford Financial Services Group worth $28,366,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also made changes to their positions in the company. DT Investment Partners LLC bought a new stake in shares of The Hartford Financial Services Group in the third quarter valued at approximately $26,000. Clean Yield Group bought a new stake in The Hartford Financial Services Group during the third quarter worth $33,000. Quest Partners LLC lifted its stake in The Hartford Financial Services Group by 2,750.0% during the second quarter. Quest Partners LLC now owns 285 shares of the insurance provider's stock worth $29,000 after purchasing an additional 275 shares during the last quarter. BNP Paribas bought a new stake in The Hartford Financial Services Group during the third quarter worth $35,000. Finally, Family Firm Inc. bought a new stake in The Hartford Financial Services Group during the second quarter worth $31,000. 93.42% of the stock is currently owned by institutional investors.

Insider Buying and Selling at The Hartford Financial Services Group

In other The Hartford Financial Services Group 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 transaction of $803,479.60. Following the transaction, the executive vice president now owns 25,820 shares of the company's stock, valued at $3,021,972.80. This trade represents a 21.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 1.60% of the company's stock.

The Hartford Financial Services Group Stock Down 0.5 %

HIG stock traded down $0.56 during mid-day trading on Wednesday, reaching $120.28. 458,933 shares of the company traded hands, compared to its average volume of 1,584,251. The stock has a market cap of $34.87 billion, a price-to-earnings ratio of 12.11, a P/E/G ratio of 1.00 and a beta of 0.95. 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 Hartford Financial Services Group, Inc. has a fifty-two week low of $77.82 and a fifty-two week high of $124.90. The firm's 50 day moving average price is $117.64 and its 200 day moving average price is $110.49.

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 paid a dividend of $0.52 per share. The ex-dividend date is Monday, December 2nd. This represents a $2.08 dividend on an annualized basis and a yield of 1.73%. This is an increase from The Hartford Financial Services Group's previous quarterly dividend of $0.47. The Hartford Financial Services Group's payout ratio is 20.84%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on HIG shares. BMO Capital Markets increased their price target on 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, November 27th. StockNews.com raised The Hartford Financial Services Group from a "hold" rating to a "buy" rating in a research report on Friday, November 15th. Barclays began coverage on The Hartford Financial Services Group in a research report on Wednesday, September 4th. They set an "equal weight" rating and a $130.00 target price for the company. JPMorgan Chase & Co. raised 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, Bank of America raised their target price on 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 research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target 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.