Verition Fund Management LLC Buys 245,404 Shares of The Hartford Financial Services Group, Inc. (NYSE:HIG)

Verition Fund Management LLC increased its position in shares of The Hartford Financial Services Group, Inc. (NYSE:HIG) by 7,564.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 248,648 shares of the insurance provider’s stock after purchasing an additional 245,404 shares during the quarter. Verition Fund Management LLC’s holdings in The Hartford Financial Services Group were worth $29,243,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. DT Investment Partners LLC acquired a new stake in shares of The Hartford Financial Services Group during the 3rd quarter worth approximately $26,000. 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 valued at $29,000 after acquiring an additional 275 shares in the last quarter. Bank & Trust Co bought a new stake in The Hartford Financial Services Group during the 2nd quarter worth $30,000. Family Firm Inc. acquired a new position in The Hartford Financial Services Group in the 2nd quarter worth about $31,000. Finally, Clean Yield Group bought a new position in The Hartford Financial Services Group in the third quarter valued at about $33,000. 93.42% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, EVP Adin M. Tooker sold 6,865 shares of the business’s stock in a transaction on Friday, November 15th. The shares were sold at an average price of $117.04, for a total transaction of $803,479.60. Following the transaction, the executive vice president now owns 25,820 shares in the company, valued at $3,021,972.80. The trade was a 21.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.60% of the stock is currently owned by company insiders.

The Hartford Financial Services Group Trading Up 0.9 %

NYSE HIG opened at $123.74 on Friday. The stock has a market capitalization of $35.87 billion, a P/E ratio of 12.40, a P/E/G ratio of 1.02 and a beta of 0.94. The business has a 50 day simple moving average of $117.32 and a 200 day simple moving average of $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 Hartford Financial Services Group, Inc. has a one year low of $76.65 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. Stockholders of record on Monday, December 2nd will be given a dividend of $0.52 per share. This is an increase from The Hartford Financial Services Group’s previous quarterly dividend of $0.47. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $2.08 annualized dividend and a dividend yield of 1.68%. The Hartford Financial Services Group’s dividend payout ratio (DPR) is 18.84%.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on HIG. StockNews.com upgraded The Hartford Financial Services Group from a “hold” rating to a “buy” rating in a report on Friday, November 15th. JPMorgan Chase & Co. boosted their target price on shares of The Hartford Financial Services Group from $122.00 to $125.00 and gave the stock a “neutral” rating in a report on Friday, October 25th. BMO Capital Markets raised their price target 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 note on Wednesday. Jefferies Financial Group boosted their price objective on shares of The Hartford Financial Services Group from $113.00 to $127.00 and gave the stock a “hold” rating in a research note on Wednesday, October 9th. Finally, UBS Group increased their price objective 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. Ten investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus 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.