Retirement Systems of Alabama Trims Stake in The Hartford Financial Services Group, Inc. (NYSE:HIG)

Retirement Systems of Alabama lessened its position in shares of The Hartford Financial Services Group, Inc. (NYSE:HIG - Free Report) by 24.6% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 302,335 shares of the insurance provider's stock after selling 98,633 shares during the period. Retirement Systems of Alabama owned 0.10% of The Hartford Financial Services Group worth $35,558,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. DT Investment Partners LLC bought a new position in shares of The Hartford Financial Services Group in the 3rd quarter worth about $26,000. Clean Yield Group acquired a new position in The Hartford Financial Services Group in the third quarter valued at approximately $33,000. Quest Partners LLC boosted its holdings in shares of The Hartford Financial Services Group by 2,750.0% during the 2nd quarter. Quest Partners LLC now owns 285 shares of the insurance provider's stock worth $29,000 after buying an additional 275 shares in the last quarter. BNP Paribas bought a new position in shares of The Hartford Financial Services Group during the 3rd quarter worth approximately $35,000. Finally, Family Firm Inc. acquired a new stake in shares of The Hartford Financial Services Group during the 2nd quarter worth approximately $31,000. Institutional investors and hedge funds own 93.42% of the company's stock.

Insider Buying and Selling at The Hartford Financial Services Group

In other news, EVP Adin M. Tooker sold 6,865 shares of the firm's 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 $3,021,972.80. This trade represents a 21.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 1.60% of the company's stock.

The Hartford Financial Services Group Stock Performance

NYSE HIG traded up $1.16 on Friday, hitting $112.08. 1,615,671 shares of the stock traded hands, compared to its average volume of 1,598,587. The firm has a market capitalization of $32.49 billion, a price-to-earnings ratio of 11.23, a PEG ratio of 0.93 and a beta of 0.95. The business's fifty day moving average is $117.41 and its two-hundred day moving average is $111.15. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.32 and a current ratio of 0.32. The Hartford Financial Services Group, Inc. has a 12 month low of $78.33 and a 12 month high of $124.90.

The Hartford Financial Services Group Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 3rd. Investors of record on Monday, December 2nd will be paid a $0.52 dividend. This is a boost from The Hartford Financial Services Group's previous quarterly dividend of $0.47. This represents a $2.08 dividend on an annualized basis and a yield of 1.86%. The ex-dividend date of this dividend is Monday, December 2nd. The Hartford Financial Services Group's payout ratio is currently 20.84%.

Analysts Set New Price Targets

Several brokerages recently issued reports on HIG. Keefe, Bruyette & Woods increased their target price 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. Bank of America raised their target price on The Hartford Financial Services Group from $121.00 to $124.00 and gave the company a "neutral" rating in a research note on Thursday, October 10th. Barclays started coverage on The Hartford Financial Services Group in a research report on Wednesday, September 4th. They issued an "equal weight" rating and a $130.00 target price for the company. BMO Capital Markets increased their price target on The Hartford Financial Services Group from $100.00 to $141.00 and gave the stock a "market perform" rating in a report on Wednesday, November 27th. Finally, Jefferies Financial Group boosted their price objective on 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 research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, The Hartford Financial Services Group currently has an average rating of "Moderate Buy" and a consensus target price 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.