The Manufacturers Life Insurance Company Cuts Stock Position in The Hartford Financial Services Group, Inc. (NYSE:HIG)

The Manufacturers Life Insurance Company lowered its position in shares of The Hartford Financial Services Group, Inc. (NYSE:HIG - Free Report) by 3.7% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 343,909 shares of the insurance provider's stock after selling 13,350 shares during the period. The Manufacturers Life Insurance Company owned about 0.12% of The Hartford Financial Services Group worth $40,447,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of HIG. Trust Co. of Vermont lifted its position 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 last quarter. Bailard Inc. boosted its stake in shares of The Hartford Financial Services Group by 0.5% in 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 in the last quarter. Catalina Capital Group LLC grew its holdings in shares of 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. Meeder Advisory Services Inc. lifted its stake in The Hartford Financial Services Group by 1.9% in the third quarter. Meeder Advisory Services Inc. now owns 5,621 shares of the insurance provider's stock worth $661,000 after purchasing an additional 104 shares during the last quarter. Finally, Tectonic Advisors LLC boosted its position in The Hartford Financial Services Group by 2.6% during the third quarter. Tectonic Advisors LLC now owns 4,566 shares of the insurance provider's stock valued at $537,000 after buying an additional 114 shares during the period. 93.42% of the stock is currently owned by hedge funds and other institutional investors.

The Hartford Financial Services Group Stock Performance

NYSE HIG traded down $0.43 during trading hours on Friday, hitting $123.31. The company's stock had a trading volume of 816,386 shares, compared to its average volume of 1,590,110. The Hartford Financial Services Group, Inc. has a 12 month low of $76.65 and a 12 month high of $124.90. The company's 50 day simple moving average is $117.32 and its two-hundred day simple moving average is $109.94. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.32 and a quick ratio of 0.32. The company has a market cap of $35.75 billion, a P/E ratio of 12.40, a price-to-earnings-growth ratio of 1.02 and a beta of 0.94.

The Hartford Financial Services Group Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 3rd. Stockholders of record on Monday, December 2nd will be paid a $0.52 dividend. The ex-dividend date of this dividend is Monday, December 2nd. This is a positive change 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 dividend yield of 1.69%. The Hartford Financial Services Group's payout ratio is currently 18.84%.

Insider Activity

In other The Hartford Financial Services Group news, EVP Adin M. Tooker sold 6,865 shares of The Hartford Financial Services Group 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 completion of the sale, the executive vice president now owns 25,820 shares of the company's stock, valued at approximately $3,021,972.80. The trade was a 21.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 1.60% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

HIG has been the topic of several analyst reports. BMO Capital Markets lifted their price objective 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. Barclays began coverage on The Hartford Financial Services Group in a research note on Wednesday, September 4th. They issued an "equal weight" rating and a $130.00 price target for the company. Bank of America increased their price objective 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. Argus upgraded shares of The Hartford Financial Services Group to a "strong-buy" rating in a research note on Friday, August 2nd. Finally, 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. Ten investment 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's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $122.00.

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.