Merit Financial Group LLC Raises Stake in The Hartford Financial Services Group, Inc. (NYSE:HIG)

Merit Financial Group LLC boosted its position in The Hartford Financial Services Group, Inc. (NYSE:HIG - Free Report) by 251.4% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 7,078 shares of the insurance provider's stock after purchasing an additional 5,064 shares during the quarter. Merit Financial Group LLC's holdings in The Hartford Financial Services Group were worth $774,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Renaissance Technologies LLC purchased a new stake in shares of The Hartford Financial Services Group during the second quarter worth about $2,755,000. Blair William & Co. IL grew its stake in shares of The Hartford Financial Services Group by 17.6% during the second quarter. Blair William & Co. IL now owns 7,310 shares of the insurance provider's stock worth $735,000 after acquiring an additional 1,094 shares during the last quarter. Pacer Advisors Inc. grew its stake in shares of The Hartford Financial Services Group by 114.4% during the second quarter. Pacer Advisors Inc. now owns 44,870 shares of the insurance provider's stock worth $4,511,000 after acquiring an additional 23,943 shares during the last quarter. Thrivent Financial for Lutherans grew its stake in shares of The Hartford Financial Services Group by 6.9% during the second quarter. Thrivent Financial for Lutherans now owns 69,814 shares of the insurance provider's stock worth $7,019,000 after acquiring an additional 4,481 shares during the last quarter. Finally, ProShare Advisors LLC grew its stake in shares of The Hartford Financial Services Group by 6.9% during the second quarter. ProShare Advisors LLC now owns 77,705 shares of the insurance provider's stock worth $7,812,000 after acquiring an additional 5,023 shares during the last quarter. 93.42% of the stock is currently owned by institutional investors.

Insider Transactions at The Hartford Financial Services Group

In related news, EVP Adin M. Tooker sold 6,865 shares of the 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 approximately $3,021,972.80. This represents a 21.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 1.60% of the company's stock.

The Hartford Financial Services Group Price Performance

Shares of HIG stock traded down $0.63 during trading hours on Thursday, hitting $110.93. 1,667,338 shares of the company's stock were exchanged, compared to its average volume of 1,560,503. 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 firm has a market cap of $32.16 billion, a P/E ratio of 11.11, a P/E/G ratio of 0.81 and a beta of 0.98. The firm has a 50 day moving average of $113.68 and a two-hundred day moving average of $112.92. The Hartford Financial Services Group, Inc. has a fifty-two week low of $85.34 and a fifty-two week high of $124.90.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on HIG. Barclays upgraded The Hartford Financial Services Group from an "equal weight" rating to an "overweight" rating and boosted their price target for the stock from $130.00 to $135.00 in a research note on Monday, January 6th. JPMorgan Chase & Co. boosted their price target on The Hartford Financial Services Group from $122.00 to $125.00 and gave the stock a "neutral" rating in a research note on Friday, October 25th. StockNews.com upgraded The Hartford Financial Services Group from a "hold" rating to a "buy" rating in a research report on Friday, November 15th. Jefferies Financial Group upped their target price on The Hartford Financial Services Group from $113.00 to $127.00 and gave the company a "hold" rating in a research report on Wednesday, October 9th. Finally, UBS Group upped their target price on The Hartford Financial Services Group from $134.00 to $135.00 and gave the company a "buy" rating in a research report on Tuesday, October 15th. Nine research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $122.28.

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.