Point72 Hong Kong Ltd Makes New $1.34 Million Investment in The Hartford Financial Services Group, Inc. (NYSE:HIG)

Point72 Hong Kong Ltd bought a new stake in The Hartford Financial Services Group, Inc. (NYSE:HIG - Free Report) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 11,360 shares of the insurance provider's stock, valued at approximately $1,336,000.

Several other large investors have also recently added to or reduced their stakes in HIG. Atria Investments Inc bought a new stake in The Hartford Financial Services Group during the first quarter worth about $1,328,000. Cetera Investment Advisers grew its stake in The Hartford Financial Services Group by 104.8% during the first quarter. Cetera Investment Advisers now owns 55,465 shares of the insurance provider's stock worth $5,716,000 after buying an additional 28,383 shares during the last quarter. Cetera Advisors LLC grew its stake in The Hartford Financial Services Group by 64.8% during the first quarter. Cetera Advisors LLC now owns 17,472 shares of the insurance provider's stock worth $1,800,000 after buying an additional 6,872 shares during the last quarter. EverSource Wealth Advisors LLC lifted its position in shares of The Hartford Financial Services Group by 34.4% during the first quarter. EverSource Wealth Advisors LLC now owns 473 shares of the insurance provider's stock worth $46,000 after purchasing an additional 121 shares in the last quarter. Finally, Massmutual Trust Co. FSB ADV lifted its position in shares of The Hartford Financial Services Group by 52.7% during the second quarter. Massmutual Trust Co. FSB ADV now owns 1,228 shares of the insurance provider's stock worth $123,000 after purchasing an additional 424 shares in the last quarter. 93.42% of the stock is owned by institutional investors.

The Hartford Financial Services Group Stock Down 0.7 %

Shares of HIG stock traded down $0.91 during trading hours on Monday, hitting $121.88. 324,559 shares of the company were exchanged, compared to its average volume of 1,584,606. The company has a market capitalization of $35.33 billion, a PE ratio of 12.18, a PEG ratio of 1.01 and a beta of 0.94. The Hartford Financial Services Group, Inc. has a 52 week low of $77.59 and a 52 week high of $124.90. The business has a 50 day moving average of $117.46 and a two-hundred day moving average of $110.23. 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 Hartford Financial Services Group Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 3rd. Investors of record on Monday, December 2nd will be given a $0.52 dividend. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $2.08 dividend on an annualized basis and a yield of 1.71%. This is an increase from The Hartford Financial Services Group's previous quarterly dividend of $0.47. The Hartford Financial Services Group's dividend payout ratio (DPR) is 20.84%.

Analyst Ratings Changes

HIG has been the topic of a number of research reports. Barclays initiated coverage on shares of 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 on the stock. StockNews.com upgraded shares of The Hartford Financial Services Group from a "hold" rating to a "buy" rating in a report on Friday, November 15th. UBS Group increased their price objective on shares of The Hartford Financial Services Group from $134.00 to $135.00 and gave the company a "buy" rating in a report on Tuesday, October 15th. Wells Fargo & Company increased their price objective 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. Finally, Jefferies Financial Group increased their price objective 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. Ten analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, The Hartford Financial Services Group presently has an average rating of "Moderate Buy" and an average target price of $122.00.

Insider Activity at The Hartford Financial Services Group

In related news, EVP Adin M. Tooker sold 6,865 shares of the firm's stock in a transaction on Friday, November 15th. The shares were 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 owns 25,820 shares of the company's stock, valued at approximately $3,021,972.80. This trade represents a 21.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.60% of the stock is owned by insiders.

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.