Hotchkis & Wiley Capital Management LLC Sells 1,522,615 Shares of The Hartford Financial Services Group, Inc. (NYSE:HIG)

Hotchkis & Wiley Capital Management LLC lowered its position in shares of The Hartford Financial Services Group, Inc. (NYSE:HIG - Free Report) by 30.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,462,507 shares of the insurance provider's stock after selling 1,522,615 shares during the period. The Hartford Financial Services Group comprises about 1.4% of Hotchkis & Wiley Capital Management LLC's holdings, making the stock its 27th largest holding. Hotchkis & Wiley Capital Management LLC owned approximately 1.19% of The Hartford Financial Services Group worth $407,225,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. Trust Co. of Vermont lifted its holdings in The Hartford Financial Services Group by 27.9% in the 3rd quarter. Trust Co. of Vermont now owns 403 shares of the insurance provider's stock worth $47,000 after buying an additional 88 shares during the period. Brooklyn Investment Group increased its position in The Hartford Financial Services Group by 4.0% during the 3rd quarter. Brooklyn Investment Group now owns 2,444 shares of the insurance provider's stock valued at $287,000 after buying an additional 94 shares in the last quarter. Bailard Inc. boosted its stake in The Hartford Financial Services Group by 0.5% during the 2nd quarter. Bailard Inc. now owns 19,378 shares of the insurance provider's stock valued at $1,948,000 after purchasing an additional 101 shares during the last quarter. Catalina Capital Group LLC boosted its stake in The Hartford Financial Services Group by 4.3% during the 3rd quarter. Catalina Capital Group LLC now owns 2,488 shares of the insurance provider's stock valued at $293,000 after purchasing an additional 102 shares during the last quarter. Finally, Meeder Advisory Services Inc. boosted its stake in shares of The Hartford Financial Services Group by 1.9% in the 3rd quarter. Meeder Advisory Services Inc. now owns 5,621 shares of the insurance provider's stock worth $661,000 after buying an additional 104 shares during the last quarter. Institutional investors own 93.42% of the company's stock.

Insiders Place Their Bets

In related news, EVP Adin M. Tooker sold 6,865 shares of the stock in a transaction that occurred 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 sale, the executive vice president now directly owns 25,820 shares in the company, valued at $3,021,972.80. This trade represents a 21.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 1.60% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have commented on HIG shares. JPMorgan Chase & Co. raised 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. BMO Capital Markets boosted their target price on 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. UBS Group boosted their price target on 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. Keefe, Bruyette & Woods boosted their price objective on shares of The Hartford Financial Services Group from $133.00 to $135.00 and gave the stock an "outperform" rating in a research note on Tuesday, October 29th. Finally, StockNews.com raised The Hartford Financial Services Group from a "hold" rating to a "buy" rating in a research report on Friday, November 15th. Ten research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, The Hartford Financial Services Group presently has a consensus rating of "Moderate Buy" and a consensus target price of $122.00.

The Hartford Financial Services Group Price Performance

Shares of NYSE HIG traded down $0.37 during midday trading on Tuesday, reaching $120.85. The company's stock had a trading volume of 1,156,134 shares, compared to its average volume of 1,589,242. The company has a 50 day moving average price of $117.55 and a 200 day moving average price of $110.36. The company has a market cap of $35.03 billion, a price-to-earnings ratio of 12.11, a price-to-earnings-growth ratio of 1.00 and a beta of 0.95. 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, Inc. has a one year low of $77.59 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. Shareholders of record on Monday, December 2nd will be issued a dividend of $0.52 per share. 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 1.72%. This is a positive change from The Hartford Financial Services Group's previous quarterly dividend of $0.47. The Hartford Financial Services Group's dividend payout ratio is currently 20.84%.

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.