Zurcher Kantonalbank Zurich Cantonalbank Sells 163,355 Shares of The Hartford Financial Services Group, Inc. (NYSE:HIG)

Zurcher Kantonalbank Zurich Cantonalbank trimmed its position in shares of The Hartford Financial Services Group, Inc. (NYSE:HIG - Free Report) by 44.4% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 204,771 shares of the insurance provider's stock after selling 163,355 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank owned about 0.07% of The Hartford Financial Services Group worth $24,083,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Tidal Investments LLC increased its holdings in The Hartford Financial Services Group by 108.4% during the first quarter. Tidal Investments LLC now owns 19,098 shares of the insurance provider's stock valued at $1,968,000 after buying an additional 9,932 shares during the period. Atria Investments Inc purchased a new position in shares of The Hartford Financial Services Group during the first quarter worth about $1,328,000. Cetera Investment Advisers boosted its stake in shares of The Hartford Financial Services Group by 104.8% during the 1st quarter. Cetera Investment Advisers now owns 55,465 shares of the insurance provider's stock worth $5,716,000 after acquiring an additional 28,383 shares in the last quarter. Cetera Advisors LLC grew its position in shares of The Hartford Financial Services Group by 64.8% in the first quarter. Cetera Advisors LLC now owns 17,472 shares of the insurance provider's stock valued at $1,800,000 after purchasing an additional 6,872 shares during the period. Finally, EverSource Wealth Advisors LLC raised its position in The Hartford Financial Services Group by 34.4% in the first quarter. EverSource Wealth Advisors LLC now owns 473 shares of the insurance provider's stock valued at $46,000 after purchasing an additional 121 shares during the period. 93.42% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related 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 transaction of $803,479.60. Following the completion of the sale, 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 position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 1.60% of the company's stock.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the company. BMO Capital Markets increased their price target 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. Keefe, Bruyette & Woods increased their target price on 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. Argus upgraded shares of The Hartford Financial Services Group to a "strong-buy" rating in a report on Friday, August 2nd. JPMorgan Chase & Co. raised their target price 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. Finally, Bank of America boosted their price objective on shares of 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. Ten investment 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 stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $122.00.

The Hartford Financial Services Group Price Performance

Shares of HIG stock traded down $0.43 during mid-day trading on Friday, hitting $123.31. 816,408 shares of the stock were exchanged, compared to its average volume of 1,590,110. 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 firm has a fifty day moving average of $117.46 and a 200 day moving average of $110.10. The Hartford Financial Services Group, Inc. has a 52-week low of $76.65 and a 52-week high of $124.90. The company has a market cap of $35.75 billion, a PE ratio of 12.36, a price-to-earnings-growth ratio of 1.02 and a beta of 0.94.

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 dividend of $0.52 per share. The ex-dividend date of this dividend is Monday, December 2nd. This is an increase from The Hartford Financial Services Group's previous quarterly dividend of $0.47. This represents a $2.08 annualized dividend and a yield of 1.69%. The Hartford Financial Services Group's dividend payout ratio is 18.84%.

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.