Park Avenue Securities LLC Has $2.18 Million Position in The Hartford Financial Services Group, Inc. (NYSE:HIG)

Park Avenue Securities LLC lifted its stake in shares of The Hartford Financial Services Group, Inc. (NYSE:HIG - Free Report) by 16.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 19,928 shares of the insurance provider's stock after purchasing an additional 2,837 shares during the period. Park Avenue Securities LLC's holdings in The Hartford Financial Services Group were worth $2,180,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the stock. Kathmere Capital Management LLC raised its position in shares of The Hartford Financial Services Group by 6.8% during the 4th quarter. Kathmere Capital Management LLC now owns 7,005 shares of the insurance provider's stock valued at $766,000 after acquiring an additional 446 shares during the last quarter. Assenagon Asset Management S.A. increased its holdings in The Hartford Financial Services Group by 437.9% in the fourth quarter. Assenagon Asset Management S.A. now owns 871,318 shares of the insurance provider's stock valued at $95,322,000 after purchasing an additional 709,324 shares during the last quarter. Board of the Pension Protection Fund acquired a new position in The Hartford Financial Services Group in the fourth quarter valued at about $394,000. Fifth Third Wealth Advisors LLC boosted its holdings in The Hartford Financial Services Group by 4.8% during the fourth quarter. Fifth Third Wealth Advisors LLC now owns 4,285 shares of the insurance provider's stock worth $469,000 after buying an additional 197 shares during the last quarter. Finally, Oak Thistle LLC increased its stake in shares of The Hartford Financial Services Group by 125.1% in the 4th quarter. Oak Thistle LLC now owns 6,528 shares of the insurance provider's stock valued at $714,000 after acquiring an additional 3,628 shares during the last quarter. 93.42% of the stock is owned by institutional investors.

Insider Transactions at The Hartford Financial Services Group

In other news, EVP Adin M. Tooker sold 6,865 shares of the company's stock in a transaction on Friday, November 15th. The stock was sold at an average price of $117.04, for a total transaction of $803,479.60. Following the completion of the sale, the executive vice president now directly owns 25,820 shares in the company, valued at approximately $3,021,972.80. This represents a 21.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 1.60% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on HIG shares. Wells Fargo & Company decreased their price objective on shares of The Hartford Financial Services Group from $134.00 to $130.00 and set an "overweight" rating for the company in a report on Tuesday. BMO Capital Markets upped their price objective on shares of The Hartford Financial Services Group from $100.00 to $141.00 and gave the company a "market perform" rating in a research report on Wednesday, November 27th. Bank of America lifted their target price on The Hartford Financial Services Group from $121.00 to $124.00 and gave the stock a "neutral" rating in a report on Thursday, October 10th. Keefe, Bruyette & Woods raised their price target on The Hartford Financial Services Group from $135.00 to $139.00 and gave the stock an "outperform" rating in a research report on Friday, January 10th. Finally, JPMorgan Chase & Co. boosted their price objective on The Hartford Financial Services Group from $122.00 to $125.00 and gave the company a "neutral" rating in a research report on Friday, October 25th. Nine analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $122.28.

The Hartford Financial Services Group Stock Performance

Shares of The Hartford Financial Services Group stock traded down $0.52 on Friday, hitting $111.96. The stock had a trading volume of 1,211,283 shares, compared to its average volume of 1,262,612. The stock has a market cap of $32.45 billion, a price-to-earnings ratio of 11.22, a price-to-earnings-growth ratio of 0.76 and a beta of 0.98. 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 twelve month low of $81.87 and a twelve month high of $124.90. The business's 50 day moving average is $114.03 and its two-hundred day moving average is $112.57.

The Hartford Financial Services Group Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, January 3rd. Stockholders of record on Monday, December 2nd were issued a dividend of $0.52 per share. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.86%. 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 currently 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.